Hot Local Markets Revealed

 

I have seen a big surge in activity in the market the past few weeks. We have seen multiple offer situations on many homes and May is living up to its billing as the busiest month for sales. One tool I use to gauge the relative strength of markets is the Active to Under Contract Ratio. This simply measures how many homes are under contract in any market and compares that as a percentage to the total of listings available. A low percentage would indicate ample supply and low appreciation potential in the short term and conversely a high percentage would indicate a higher demand and possible upside appreciation in the short term. I have listed below the under contract percentage for the local areas for both single family attached and condos and townhomes. But first a summary; The three hottest markets for detached homes are in order: Louisville (36.5%), Boulder (29.6%) and Superior (28.4%). The softest markets for detached homes are: Weld County as a whole (9.46%) and Erie (10.9%). The hottest markets for condos are: Louisville (30.6%) and Boulder (26.4%). There are two markets that are very slow in the sale of condos; Erie has 38 active listings and only 1 under contract and Superior has 33 active listings and only 1 under contract.

 

 

Here is the data:

 

Single Family/Detached Homes

  • Louisville – 36.5%
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  • City of Boulder – 29.6%
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  • Superior – 28.4%
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  • Lafayette – 23%
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  • Boulder County – 19.6%
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  • Longmont – 14.7%
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  • Suburban Plains – 14.7%
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  • Suburban Mountains – 11.2%
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  • Erie – 10.9%
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  • Weld County – 9.46%

 

Condos and Townhomes

  • Louisville – 30.6%
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  • City of Boulder – 26.4%
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  • Boulder County – 20.4%
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  • Lafayette – 18.1%
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  • Suburban Plains – 17.3%
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  • Longmont – 10.3%
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  • Weld County – 9.8%
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  • Superior – 3%
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  • Erie – 2.6%

 

 

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