Every morning I print out a report which details the activity which happened in the market during the past 24 hours. I see the new listings, those that have had price reductions, those that went under contract and the properties that closed. This information helps me keep my finger on the pulse of the market. Not only is it helpful to keep track of specific properties and prices, I find it is a good indicator to have a gauge on the number of houses in each category.
For example, I like to look at how many homes go under contract each day. This gives me a general idea of the market activity. I also find it interesting to look at the number of price reductions which is an indication of homes sitting on the market for longer than the sellers would have hoped. I also like to look at the properties that closed and look at not only how many but what prices are most prevalent and how much negotiation got the deal done.
Since I find this valuable I thought you might find this type of information useful as well. Daily might get a little tedious so starting today I will present the weekly activity index on Thursdays. As I collect more data we can do more with it. Today starts the baseline. Please give your feedback on what might be interesting to see from your perspective. You can comment below.
|# New||Price Drops||# U/C||# Sold||Median $ of Sold|
What stands out to me this week is the median price of the sold properties. A median price of $317,900 tells me that the strength in the market is still in the lower end.
This index uses all properties in Boulder, Louisville, Lafayette, Longmont, the Suburban Plains, the Suburban Mountains and Superior. Let’s see what it looks like next week.