Typically, in the Front Range Market, the number of new listings will exceed the number of closings on a monthly basis.
Meaning, the amount of properties that hit the market in a given month will be higher than the amount of properties that sell in that month.
It is normal to have the ‘inflow’ exceed the ‘outflow’ because some properties never sell for a variety of reasons.
As a result, the market remains stocked with inventory.
Starting about 5 years ago, we saw months where the number of new listings was roughly the same as the number of closings.
Then, in late 2020, these numbers inverted. Closings started to exceed new listings.
This culminated in December 2020 when we saw the most drastic difference we have ever seen.
Here are the specific numbers for December:
- Larimer County = 267 New Listings / 426 Closings
- Weld County = 293 New Listings / 530 Closings
- Metro Denver = 3028 New Listings / 4807 Closings
What this means is the market needs new listings. This also means that your home is likely worth more than you might think. If you want to see your home’s current value, even if you aren’t thinking of selling soon, we would be happy to show you.
Temperatures may be cooling off but the Front Range real estate market is not.
Typically the market starts to slow down a bit in the Fall after a hot Spring and Summer.
Not this year.
The indicator we use to measure future closed sales is current pending sales.
Simply, we look at the number of properties under contract and scheduled to close versus the same time last year.
Current pending sales are way up along the Front Range when measured against 2019:
Metro Denver up 34.1%
Larimer County up 48.6%
Weld County up 50.2%
Based on these numbers, closed sales numbers over the next 60 days will be very strong.