The following are comments from Kyle Snyder with www.longmonttitle.com
The Longmont single-family sales results for February 2020 are a virtual repeat of January 2020… just a fuzz better. Monthly sales are higher-always good. Year-to-Date sales are up over last year. More goodness. Average days on market are up less than inventory (shouldn’t they be about the same?). And my two favorite stats (Average and Median Sales Prices) are hanging right where we want them for another year or so… up just a little. There just isn’t anything here to be concerned with, especially with low-interest rates going into the busy season. Lots of goodness.
Longmont attached homes are another great story. The only slight concern is the drop in active listings. The drop in supply can pinch demand and push prices up in this category, which can then push prices up for single-family homes. It’s my prediction that when current attached owners see how much house they can afford these days, we may see some move-up buyers, creating the inventory we need for first-time homebuyers to get into those attached homes.