In the real estate industry like many market driven industries, it is hard to project the Telluride real estate market analysis for its direction and momentum.
The most widely used and reliable gauge of course is sold/closed transactions, and these are the tools appraisers use to show historic behavior.
Many of us who have weathered the last great recession and melt down of the real estate market can attest to the fact that backwards historical records of closings and values do not reflect forward looking future trends. Our colleagues at Telluride Consulting and the various title companies have done a great job making historic data and information available to the real estate professionals. Although we can get a reasonable indication from this historic data of where the market is going, as we all know and have observed this market can turn on a dime.
Having discussed this dilemma and concern in our office of how we can get more data looking forward for trends in our market my colleague, friend and obviously data geek, Scott Bennett, has come up with a method to give us and our clients a better understanding of market momentum and behavior looking forward. Scott has come up with a method/charts that show the volume of open new real estate contracts initiated each month in our MLS area. These charts show the monthly volume of new contracts year over year and give us a good more current indication of market volume of transactions and increase or decreases in dollar volume.
The charts will be updated at the beginning of each month for the previous month, please bookmark our website and visit regularly.
Buying real estate is an incredibly important milestone that should not be taken lightly...
The current real estate market makes people worry about selling their home or business...