Certified Appraisals, Inc. Blog

Below is a graph of Mortgage rates versus Mortgage applications for the period between February 1, 2019, and February 1, 2024.  

Below is data representing monthly sales volume from January 2014 through December 2023. Only six times during this 10-year period has monthly sales volume been less than 700 units and only three times has sales volume been less than the volume in December 2023.  For the year 2023 monthly sales volume was below 700 units three times. 

At the end of November 2023 months of inventory where similar to the months of inventory from 2015. Sales prices continue to remain somewhat stable, though there may be a downward trend. Will see how this trend plays out over the next two months. 

Below is a graph depicting sales volume and months on inventory for the period of January 2022 through December 2022. Months of inventory have not reach 4.0 months in the past two years. Actually, looking back further, months of inventory has not been this high in El Paso County since 2015 (graph is included).  Sales prices year to date continue to be relatively steady with no major impact as of the end of November.  

Below is a graph showing the trend of sales volume to number of active listings for the period January 2021 through October 2023. These trends indicate a slowing sales market and potentially a buyers' market. 

Just ran statistics for the calander months of January thru October for the period of 2013 thru 2022. The average sales volume for January thru October for the period of 2013 thru 2022 is 13,018 units. The sale volume for the period of January thru October 2023 is 9,683 units, a difference of 3,335 units. Sales volume for the period of January thru October 2022 was 13,197 units, a drop of 3,514 units year over year. Current interest rates are not helping this situation. 

Below is a data chart showing sales volume for the past 10 years for single family dwellings in El Paso County.  Overall sales volume for 2023 is most similar to the data from 2013.  The sales volume for 2023 is approximately 2500-3000 units below an average year for the 10-year period of January 2013 thru August 2023. 

Below is a graph depicting sales volume for El Paso County for the period between January 2017 and August 2023.  Overall sale volume is down considerably in 2023. 

The Graph below depicts days on market and sale volume for the period of August 2018 thru August 2023.  Days to sell only exceeds sales volume twice during this period. 

Below is a graph for El Paso County showing the median sale price and sale volume for the period of January 2022 thru August 2022.  Though volume is fluctuating, sale prices are relatively stable.