By Rob Kelly, LRA Owner & Managing Broker
Louisville, Colorado remains a hot seller's market, with very little inventory on hand for eager buyers who want in. The median list price of a single family home jumped from $625,000 in December 2017 to a whopping $699,000 in early May this year. Louisville's inventory did not change much from the dead of winter to early spring and currently sits at 43 homes for sale, which is actually only a slight increase from 39 homes in December 2017.
Some of the metrics we pay attention to include "Days on Market" (DOM), which for Louisville decreased greatly from 86 days in December 2017 to 59 days in early May 2018, which includes time to close the transaction, so it is not a true reflection of how long a home sits on the market. Interestingly, 28% of sellers were offering price reductions in early May, which is a bit more friendly to buyers, up from 9% in March 2017. As it stands now, it is virtually impossible to purchase a single family home in Louisville for under $300,000. The table below (courtesy of Chicago Title) reflects a 90 day rolling average as of May 2, 2018.
Every week real estate professionals at Louisville Realty Associates review the market inventory for Boulder and East Boulder County and we pay close attention to trends in prices, days on market, price reductions and more. Each quarter, LRA publishes a summary of what we have observed and reiterate what we believe may be important to both home buyers and sellers in order to understand in an easy-to-read format offering a brief commentary of the most tracked statistics for single family homes in Louisville, Superior, Lafayette and Erie. We invite you to read this summary here.
While it is easy to get lost in the multitude of statistics available for everyone to look at online, we always keep our data sweet and simple. At LRA, our wonderful agents have the experience, energy and depth of knowledge to help you list your home for the best price. You can reach us anytime at @email@example.com.
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