We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The association released its first quarterly market statistical report this week, using statewide Multiple Listing Services, or MLS, data to take a snapshot of Colorado. The report covers the third quarter, which ended Sept. 30. The data does not include the sale of homes by their owners or the sales of new homes.
Statewide, combined sales of single-family homes, condominiums and townhomes totaled to 23,987, a 14 percent increase compared with the third quarter of 2011. During the same period, the median sale price statewide rose 12 percent, to $224,000. Properties spent an average of 83 days on the market.
The report also broke out regional data. Boulder County was in the northeast region, along with Larimer, Logan, Morgan and Weld counties. In the region, 5,216 homes were sold, a 19 percent increase, and the median sales price grew by almost 6 percent to $224,000. The average number of days on the market decreased by 9 percent to 103.
The report was prepared by 10K Research and Marketing, a Minneapolis-based real estate technology company, and is based on data provided by MLS. The report represents approximately 90 percent of all MLS-listed residential real estate transactions in the state, according to the association.
The report and regional reports are available at www.ColoradoREALTORS.com/HousingStatistics.