RE Stats: 4/10-4/17

The march stats from the Colorado Association of Realtors have just been released! These stats help paint a clear picture of what we're seeing and have been talking about in regards to real estate in the valley.

• There are currently 433 active homes on the market in Mesa County. This is a 2% increase from 424  last week.

• The average sold price YTD is $411,240 and the median sold price YTD is $365,400.

• There have been 65 price reductions in the last 7 days.

• There have been 95 new listings in the last 7 days.

• There have been 103 pending listings in the last 7 days.

• The average DOM for the active homes is 87.

Last Weeks New Listings

Last Weeks Sold Listings

NATIONAL MARKET UPDATE

Freddie Mac noted that falling mortgage rates, decelerating inflation, and tight labor markets “are creating increased optimism among prospective homebuyers as the housing market hits its peak in the spring and summer.”

Thanks to those lower rates, the Mortgage Bankers Association reported purchase mortgage applications jumped 8% last week, noting “the likelihood of even lower rates in the months ahead should lead to increased demand.”

In line with these reports, Black Knight found that rate locks on purchase loans grew 44% month-over-month in March. Even refinance lock activity grew, with cash-outs up 31% and rate-and-term locks up 36%, as rates eased.

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