New podcast discussing the current state of the market. As we move into fall we continue to see the market form an upward plateau with our higher-priced markets such as Fort Collins, Windsor and Longmont posting small gains or losses, depending on what data set you use. While our more moderately priced areas such as Loveland and Greeley are still making significant price gains. Inventory has increased but remains low with the absorption rate sitting at 2 months. That means the market can absorb or sell its current supply of homes in about 2 months. A market balanced between buyers and sellers is said to have an absorption rate of 6 months. This tells us that demand is still high and the market is still gobbling up its available inventory at a rapid clip. Average days on market is 46 which means a typical home sells in about 2 weeks considering a 30 day escrow period. Multiple offers and over list price sales still occur but we are seeing fewer of those situations especially as we move into fall which is notoriously slow and a great time for buyers to pick up deals. In November and December, we see the market pick back up slightly and then it typically softens again in the first quarter of the new year.
