Throughout the Indian Peaks community real estate market in October 2016 we saw 22 houses move through the contract process. Five of these homes move through to final sale and 5 are under contract. This means that about 45% of the homes were unavailable for purchase and just over 54% were active on the market for sale. This is similar to what we saw in August as well showing a slight softening in the overall market.

Another indication of the softening in the market is that the absorption rate is hovering around 1 month of available inventory through August and September. That is a 47-60% increase since earlier part of this year. For example, the absorption rate in February was about ½ a month’s inventory. Note that the absorption rate says that if market conditions do not change and if no new listings come on the market, then in October it would take 1 months for the current inventory to sell at the current pace of the market. A balanced market’s absorption rate is typically between 5 – 7 months, so while the demand is softened a bit this is still strongly a Buyer’s Market.

If you have any question about this market analysis, or are looking at buying or selling in the neighborhood of Indian Peaks, contact Leanne Goff; she is an expert in this area!