No surprise that the Indian Peaks townhouses are on fire, as usual. Four of them came to the market in May and they are all under contract. It will be interesting to see what they sell for. So far the jury is out on that data!

The average price per square foot for an Indian Peaks single family house climbed back up to $200 each on average. That is a 3.6% increase over the past two months. We last saw the price per square foot at $204 in January of this year. Glad to see that is back!

There are currently 8 active homes in Indian Peaks and 14 that are under contract, 5 of them were sold in May. That means that 42% of the market is available with 58% of the market under contract or sold. However, the absorption rate has increased from 0.69 last month (just over 1/2 a month for the current demand to absorb all homes in the market) to 0.81, which is still under one month but an increase in the time for homes to be sold. That would be a reflection of the increase in inventory over the past few months. That is a normal progression for this time of year.

The days on market has decreased a bit since last month with just 52 days on average from list to closing for a new home coming to the market. That is 17 days on average until going under contract, which is down from last month which was 41 days.