The Berkshire Hathaway HomeServices Colorado Properties 2016 Q1 Market Trend Report has been released!
Overall I believe our market is quite healthy with residential contracts about 30% higher than this time last year. In Q1 residential closed dollar volume is down about 17% and unit sales are up 13%. I think it is important to keep in mind that this is simply a snapshot of the first quarter and much can change in 2016. Undoubtedly there are “off market” properties and FSBOs that account for additional dollar volume and unit totals, however, when we compare our MLS data year over year, those variables should balance out.
Of note is the strength geographically on the “valley floor” as well as in price points under $1,000,000. Many of the resort numbers are lagging below those of 2015 and 2014 while the balance of the market continues to trend in a positive direction.
As a reminder, these are overall trends in the market and in general neighborhoods. Complexes, smaller subdivisions, etc. may be wholly unique from their neighboring properties so it is important to speak with one of our real estate brokers to dig deep and find out more information with regards to the specifics of each neighborhood, complex, and subdivisions.
If you have any questions, please feel free to contact us at any of our 7 offices.
Michael Slevin, President
Berkshire Hathaway HomeServices Colorado Properties