Percentage of Homes Under Contract
One of the best measures of the strength of a market is the percentage of active listings that are under contract. This statistic gives a good barometer to the market and if anything is actually selling. One of the measures of a declining market (one that cannot sustain values) according to Fannie Mae is a market that has fewer than 15% of active listings under contract. Thankfully we are above that percentage in all of our local areas. In some areas such as attached dwellings in Boulder the under contract percentage is just under 40%. Strong in any market. This doesn’t mean that we have switched to a sellers market it just says that there is activity in the market. More than that we cannot ask.