MARKET STATS FOR February 2023 Year over Year comparison

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.

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Current as of March 3, 2023. All data from REcolorado® and IRES®.