How is the real estate market in Superior?
In this post and video I will outline the fundamentals of the Superior Colorado real estate market by reviewing demand (sold and under contract listings) and supply levels (active and new listings) within the city of Superior 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!
Superior Colorado Real Estate
Single Family Homes
This week the median list price for a home Superior, CO is $709,750 with the market action index hovering around 51. This is less than last month’s market action index of 53. Inventory has held steady at or around 16.
Market Action Index 51
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. Strong Seller’s Market
The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Attached Dwellings (Townhome and Condos)
This week the median list price for Louisville, CO is $439,900 with the market action index hovering around 28. This is an increase over last month’s market action index of 27. Inventory has held steady at or around 23.
Market Action Index 28
The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer. Slight Buyer’s Advantage
The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.
|Year to Year|
|Homes for Sale||9||13||31%|
|Average Days on Market||117||40||-193%|
|Months Supply of Inventory||0.6||1.3||54%|
|Average Sale Price||$ 453,836||$ 560,764||19%|
|Average Percent of Original List Price||99.80%||98.20%||-2%|
|Avg. Price Per Tot Sq Ft||251||272||8%|
|Month to Month|
|Homes for Sale||12||13||8%|
|Average Days on Market||40||40||0%|
|Months Supply of Inventory||1.7||1.3||-31%|
|Average Sale Price||$ 659,531||560764||-18%|
|Average Percent of Original List Price||99.60%||0.982||-1%|
|Avg. Price Per Tot Sq Ft||235||272||14%|