Under Contract Ratio
Sales Activity Surges in November
Traditionally our market peaks out in May or June, goes soft in August, surges in September and October and then slows down considerably after Halloween. This year our fall surge came during late October and November. Sales data is not yet in but I also track the percentage of homes that are under contract and that seems to be a pretty good gauge of market activity.
The charts below show the percentage of homes that are under contract in different market segments on both October 8, 2007 and November 26, 2007.
The percentage of single homes under contract is up in Boulder, Longmont, Boulder County as a whole and Weld County. It is down in Louisville (still the hottest market by percentages) and just slightly in Lafayette.
The percentage of attached dwellings under contract is up in all areas but Louisville.
I’m hoping that these strong indicators lead to a strong finish to the 4th quarter in terms of total number of sales.
