Mesa Verde 2018 Summer Sales Report – Whew! The humidity looks like it’s finally gone, as is the summer real estate market in Mesa Verde for this summer selling season. Well, how did we do? It’s looks as if we did quite, quite well, thank you very much.
I am sticking 3 very boring charts in here for June, July, and the August months for the Mesa Verde 2018 Summer sales report. You can see the trending activity, average prices have risen quite a lot since last year, and inventory is also rising.C1- Mesa Verde-June
Prices UP UP UP
The first thing I notice, as you probably did too in the Mesa Verde 2018 Summer Sales Report is that prices are up – WAY up. By August our median sales price is now $930,000 for Mesa Verde and the average sales price is now over a million dollars. Which is amazing. This Mesa Verde market has never seen that kind of price performance.C1- Mesa Verde-July
Inventory UP UP UP
As you can also see, unfortunately, by August we have a newer trend, one that this market has not seen for more than 5 years. Inventory is up. WAY up, just like prices. But as you know from your basic economics class, prices and inventory both cannot sustain themselves being way way up. If you notice in the charts, the August period in the Mesa Verde 2018 Summer Sales Report shows a 75% spike in new inventory. Perhaps, as I mentioned in my Costa Mesa Real Estate Predictions blog back in January, home sellers waiting for the absolute last minute of high prices are finally putting their homes out on the market.C1- Mesa Verde-August
Pending Activity – where are you?
The one unfortunate trend that I also see in August is the change in pending inventory- it’s down more than 7%. The other big trend is that the closings are down too – this is down more than 20% for the August period, showing that maybe this market might be losing a bit of wind from it’s sails.
Now What? Fall Predictions for the Mesa Verde Market 2018
Now that summer has come and gone, we will certainly see a bit of a slowdown, which is pretty typical regardless of how hot or cold the market is at any point in time. In the first weeks of September we have already seen more homes come on the market at high prices. I think homes priced “right” or beautiful homes in the right locations will still sell for quite a bit in this market. I also think that post Halloween you are going to see some homes that are perceived to be way overpriced come off of the market, particularly those in the highest price points of Mesa Verde. Also, see my Fearless Fall Predictions for Costa Mesa.
If you are looking to connect with a great Mesa Verde Realtor, connect with Colin Delaney by phone/text at 714.743.9882 or by email.