September Market Wrap-Up

We have been having beautiful fall weather, the Rockies and advancing in the playoffs and the Colorado Buffaloes are winning games, all is good!

The results are for September and the numbers are not as strong as I had hoped. Once again, total number of sales for the month the was lower than September 2006. Our market has been plodding along at a steady pace that much of the country would envy, but we are not keeping up with the last few years in terms of numbers of transactions. What this means is that the pool of buyers is smaller and this makes for a very competitive environment for sellers. Many good looking homes are going un-noticed. This forces sellers to either be very patient or very aggressive in pricing. My sense is that the majority of sellers in our market are the patient types. We see many price reductions on a daily basis but the overall median prices in the area are not dropping. See the charts below for details.