July 5th: Real Estate Summary

Active inventory in Mesa county is almost at 500!

It's kind of unreal that we are closing in on 500 active listings. We were hovering right around 200 active listings through April this year. As soon as rates started racing up, we saw inventory increase simultaneously. 

Luckily, there is still plenty of buyer demand. The current market absorption rate is at 1.2 months. This means that if there were zero new listings coming to the market, our inventory would run out in 1.2 months. The first quarter of the year was around .5 months. A balanced market is 6 months. Anything lower is considered a sellers market and anything above is considered a buyers market.

• There are currently 477 active homes on the market in Mesa County. This is a 8% increase compared to last week

• The average sold price YTD is $422,888 and the median sold price YTD is $385,000.

• There have been 95 price reductions in the last 7 days.

• The average DOM for the active homes is 62.

Last Weeks New Listings 

Last Weeks Sold Listings

Click the photo to be linked to the article

Also, go check out my new Podcast with Coldwell Banker Distinctive Properties CEO, Todd Conklin! 

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