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Under 100
For the first time in a long time, the sale to list price ratio is below 100%.
This statistic measures the final sales price versus the listing price.
During the super-active market of the last 24 months, this number averaged over 100%.
This was a result of multiple offers and bidding wars which caused buyers to offer more than list price.
Now, the sale to list price ratio has dropped to below 100% as a result of a more balanced market.
These are the specific numbers in each of our markets:
Larimer County = 98%
Weld County = 99%
Metro Denver = 97%
Half A Month
There is half of a month of inventory on the market. In other words, at the current pace of sales, it would take just two weeks to sell all of the homes currently listed for sale along the Front Range.
By definition, a market is balanced when there is 4 to 6 months of inventory. Anything less than that is a seller’s market.
The current inventory levels give us confidence about the future of price growth along the Front Range.
While we expect the pace of price appreciation to slow, the low supply of properties insulates us against any sort of price decline.
The Housing Market in 2019
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
The last time we saw a balanced market was late 1990s, meaning many sellers and buyers have never seen a normal housing market. Windermere Real Estate’s Chief Economist Matthew Gardner looks at more longer-term averages, what does he see for the future of the housing market?
