As we enter a new year in our constantly evolving industry, we’re introducing ‘Stat Shot’ to present important data on the current state of the market. It’s also a reminder that you have tools available at your fingertips that provide a wealth of data to help serve your clients.
Closed Residential Units
This month, we’re zooming in on Closed Residential Units. As you can see in the graph, closed sales are trending up in the last half of 2024, compared to 2023. This data includes residential property covered by the data share (IRES and REColorado). In July through December 2023, there were 30,450 closed sales compared to 32,231 during the same time period in 2024. This suggests that the changes that resulted from the NAR settlement did not impede an upward change in the market in the last half of 2024. Closed sales are also trending up for the full year, with 63,162 closed sales in 2023 compared to 64,242 in 2024.
It can be easy to focus on the negative, particularly during times of change. But we see this data as encouraging. Despite the adjustments to commission and compensation rules, agents are still selling houses and moving inventory. We should all be cautiously optimistic that the market is heading in the right direction.
You Have Access to This Data
As an IRES subscriber, you have access to this same data and more on InfoSparks. This data can be a helpful tool as you analyze changes to the market, look into neighborhood-specific data for your clients and try to tell a story about what’s going on in the market while placing it in context with historical data.
If you need a refresher on InfoSparks, check out the tutorials on the Help & FAQ page.
IRES MLS: Come Home to Colorado 