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New Listings were down 22.0 percent for single family homes and 22.0 percent
for townhouse-condo properties.
Under Contracts decreased 8.8 percent for single family homes and 15.5 percent
for townhouse-condo properties.
The Median Sales Price was down 5.2 percent to $621,500 for single family
homes but increased 0.2 percent to $401,000 for townhouse-condo properties.
Days on Market increased 269.2 percent for single family homes and
158.8 percent for townhouse-condo properties.
With buyer demand down from peak levels, home price growth has continued
to slow nationwide, although prices remain up from a year ago. Sellers have
been increasingly cutting prices and offering sales incentives in an attempt to
attract buyers, who have continued to struggle with affordability challenges this
winter. The slight decline in mortgage rates earlier this year convinced some
buyers to come off the sidelines, but with rates ticking up again in recent weeks,
buyers are once again pulling back, causing sales activity to remain down
heading into spring.
CLICK ON THE THUMBNAIL ABOVE LEFT FOR THE FULL FEBRUARY REPORT
Current as of March 3, 2023. All data from REcolorado® and IRES®.
Report© 2023 ShowingTime
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