I just received the 7 county RE Colorado stats for June. Supply of homes for sale is dropping again which is not a good sign as inventory levels are dropping as we see fewer new listings. Price increases are slowing down too which is good. Here are some highlights—
Completed sales dropped 6.1% from last June to 5,396 sales. Sales were down just 0.8% from June 2016 though. Still June sales were the least seen in the last 5 years.
Sales dropped 0.8% from May.
New listings dropped 3.1% from last June to 6,844 new listings. This number is down 4.9% from June 2016.
New listings also dropped 4.3% from May. This is not a good sign.
49.66% of our new listings came in the $300k-$500k price range.
Buyers placed 5,573 homes and condos under contract last month, an increase of 1.3% from June 2017 and an increase of 2.9% from June 2016.
We ended the month with just 6,413 homes and condos for sale, down 5.5% from last June and down a whopping 11.8% from June 2016.
We ended the month with 1.19 months of inventory.
The Median CDOM was again at 6 days just like the last 2 years.
The average sales price last month on an attached home was $359,160, an increase of 9.2% from last June and an increase of 23.7% from June 2016
The median sales price last month on an attached home was $300k exactly, an increase of 9.1% from last year and an increase of 21.5% from June 2016.
The average sales price last month for a detached home was $530,416, an increase of 7.8% from last June and an increase of 15.2% from June 2016.
Average home prices for detached homes rose last month by 0.8% compared to May, after dropping from April to May.
The median sales price of a detached home was $450k, an increase of 7.1% from June 2017 and an increase of 13.9% from June 2016
For both home types the average sales price rose to $483,476, an increase of 8.1% from last June and an increase of 16.3% from June 2016.
For both home types the median sales price rose to $417k, an increase of 7.6% from last June and an increase of 15.5% from June 2016.
The Sales to List Price Ratio last month dropped to 100.5% from 100.7% last June and 101.2% in June 2016.
Here are some year to date numbers for you—
We have had 34,625 new listings this year, an increase of 1.5% from last year. This is the highest number since 2013.
So far, 25,855 homes and condos have changed hands this year. This is down 2.7% from last year; but higher than the sales counts from 2014, 2015, and 2016.
The year to date Closed to List Price Ratio is 100.51% which is slightly above last year and slightly below 2016 figures.