Last June I reported that the typical summer market slowdown was not happening despite the pandemic and quarantine and the market was in full swing heading into the July 4th weekend. This year is following the same trend with our hot spring market continuing to remain active into summer. Multiple offers above list price and buyer concessions to the seller are still the norm. Normally, we would be slowing as we approach July 4th, but this year's low inventory seems to have continued to create pent-up buyer demand.
Despite my experience with multiple offers continuing, some local news sources are reporting that the Colorado real estate market is starting to cool off. I haven't seen a cool down in the Boulder County market yet, but I know the rate of rapid appreciation we've been experiencing this year can't continue indefinitely. If the market is cooling down, I feel it will become evident sometime shortly after the 4th of July or by the time school starts in August.
Boulder County's economy and lifestyle continue to attract out-of-state buyers. The latest SmartAsset report ranks Boulder in the top 3 housing markets in the nation for growth and stability. Interest rates have started to rise, but are still near historic lows and buyer demand continues to be robust. If buying or selling makes sense for you now, I would encourage you to move ahead. Please contact me anytime if you want to discuss the current market and how I can help make it work for you.
Best,
Rich
