The Participants' Advantage

When you look at the Boulder Valley real estate picture since 2001, the difference is staggering. The number of single family homes on the market has decreased by nearly 75%. Demand far exceeds supply, and that makes the market challenging (but not impossible) for new entrants.

From RE/MAX of Boulder's Annual Real Estate Report. If you'd like a copy, please email me at richgribbon@boulderco.com.

My take? If you own Boulder Valley real estate, pat yourself on the back. You have invested in something REAL, in the #1 market in the country for holding long-term value. In just one example, single-family homes in Boulder have increased in value by 276% in the last 25 years. 

As we look ahead this year, keep a few things in mind. First, intelligence in a fast-paced market yields better outcomes for everyone. Kicking off my 26th year in the business, I'm very proud to have helped so many buyers find, negotiate and successfully purchase homes here in Boulder County. I've also helped many sellers with measured guidance that results in low-drama, high-yield sales.

In 2019, it continues to be important for both sellers and buyers to put experience on their side. If you or anyone you know is considering selling, buying or investing in real estate, I'm happy to help.  Please call me anytime, 303-931-6979.

Best,

Rich

2018 Review & Predictions

Our real estate market was hot again in 2018, marking 7 straight years of appreciation! A few highlights:

Single Family Homes, Median Price. Looking at Boulder County as a whole, the median price of single family homes increased by an average of 8.5%.  In Boulder and Louisville , it increased 6.4%. In Lafayette and Longmont, it increased 11.9% and 9.5% respectively. Boulder and Louisville's lower appreciation compared to the rest of the county should be seen as a reflection of affordability, not desirability.

Attached Dwellings (Condos and Townhomes), Median Price. The median price of attached dwellings in Boulder County overall increased by an average of 6.7%.  Boulder and Longmont outpaced this increase at 9.8% and 11.1% respectively.  Superior saw an astounding increase of 32.8%, mostly attributable to new construction of higher-end condos in Superior Town Center. 

Single Family Homes, Inventory. The inventory of single family homes for sale decreased throughout our market in 2018 as did the number of sales. Low inventory, combined with robust demand, was the key factor in across-the-board price increases.

Interest Rates.The 30-year fixed interest rate started the year at 4.25% and is ending at 4.875%. This increase has not slowed buyer activity in our market up to this point. Historically the rates are still very low, but we'll have to see if further expected increases impact the market in 2019. 

Considering the future:

• I have stayed extremely busy right up to the end of this year. It is hard to say how the overall economy will affect the real estate market through 2019, but I'm predicting a very active first quarter, based on the number of buyers and sellers I'm seeing now.

• In my best estimation, all signs are that 2019 will look a lot like 2018: low inventory coupled with low interest rates (by historic standards) resulting in a competitive buying environment.

• This rule of thumb will remain: the lower the price, the hotter the market.

• The first quarter is traditionally an excellent time for sellers to be on the market and 2019 should be no exception. For buyers, looking early to get ahead of appreciation is a good idea. If you or anyone you know is considering selling or buying, I'm happy to help.

I hope you had a great 2018. Wishing you and your family a happy holiday season and prosperous New Year! As always, thank you for your support through your business, referrals and friendship.  - Rich 

Boulder Tops for Growth & Stability

FOR THE FOURTH YEAR IN A ROW, analysts at  SmartAsset.com pegged the Boulder Metro Area (Boulder County) as the #1 real estate market for growth and stability in the U.S.  Their research shows that the average home has grown 276% in value over the past 25 years.  Over that same time period, they estimate there was a 0% chance that a homeowner saw a 5% loss in home value within 10 years from the purchase date.  Colorado's Front Range showed strength across the board, with Fort Collins ranking at #4 and Denver ranking at #9. Read the full report.

Current stats show that appreciation is slowing in Boulder County, going from an average 12.5% annually over the last 5 years, to 8.25% in the last year. This leveling off feels healthy to me. Again, ours is the most  stable real estate  market in the country!  

If you want to discuss current market trends and ways to make the market work for you, please contact me. I am always here to help you, your friends, family and co-workers with any real estate need, even if they just want to ask a question. I hope you are having a great start to the school year. - Rich