In this post and video I will outline the fundamentals of the Louisville Colorado real estate market by reviewing demand (sold and under contract listings) and supply levels (active and new listings) within the city of Louisville for the month of January 2019 as well as review where the market has been via lagging indicators (sales price), and current market health with month’s supply of inventory, days on market and list to sales price ratio.
Oh, by the way, do not forget to check out how the overall metro Denver Real Estate market is doing by clicking here!
Louisville Colorado Real Estate Single Family Homes
This week the median list price for Louisville, CO is $728,500 with the market action index hovering around 42. This is less than last month’s market action index of 44. Inventory has held steady at or around 34.
Market Action Index
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer. Today is 42 which shows a Slight Seller’s Advantage
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up persistently, prices are likely to resume an upward climb.
This week the median list price for Louisville, CO is $429,900 with the market action index hovering around 34. This is an increase over last month’s market action index of 27. Inventory has held steady at or around 18. Click here to stay informed with the Louisville market!
Market Action Index
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer. Today’s number is 34 which is a Slight Seller’s Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
|Year to Year||Month to Month|
|Feb-18||Feb-19||% change||Jan-19||Feb-19||% change|
|New Listings||20||24||17%||New Listings||34||24||-42%|
|Homes for Sale||23||39||41%||Homes for Sale||39||39||0%|
|Under Contract||17||20||15%||Under Contract||25||20||-25%|
|Closed Sales||13||18||28%||Closed Sales||17||18||6%|
|Average Days on Market||60||55||-9%||Average Days on Market||38||55||31%|
|Months Supply of Inventory||1.4||2||30%||Months Supply of Inventory||1.6||2||20%|
|Average Sale Price||$ 597,047||$ 665,895||10%||Average Sale Price||$ 519,151||$648,138||20%|
|Average Percent of Original List Price||99.70%||99.60%||0%||Average Percent of Original List Price||99.50%||99.60%||0%|
|Avg. Price Per Tot Sq Ft||280||278||-1%||Avg. Price Per Tot Sq Ft||362||278||-30%|