Third Quarter Stats

Boulder County third quarter sales statistics show that low inventory and high buyer demand are driving price increases in all segments. Comparing today's market with 2009 is instructive, with inventory decreases every year since. Consider:

Single-family homes

The number of homes on the market in 2014 is down 49% compared to 2009The number of sales in 2014 is up 32.9% over 2009The median price is up 23.9%  since 2009

Condos and townhomes:

The number of units on the market in 2014 is down 69.5% compared to 2009The number of sales in 2014 is up 13.2% over 2009The median price is up 14.1% since 2009.

I believe these stats demonstrate overall strength and stability in our market. A key figure to focus on is the median price of single family homes, which is up an average 4.8% per year over the last five years, and 3% in the last year alone. The median price of attached dwellings is up an average of 2.8% per year over the last five years, and up 3.5% in the last year alone.

The Boulder County real estate market appreciated steadily through the 2000's without any dramatic annual increases like were seen in other markets, which eventually crashed hard after 2008. Even though our market has been hot over the last few years with fast sales and multiple offers, steady growth, a strong jobs market, and limited inventory together create stability. What's more, our price increases feel rational. High buyer demand and low inventory do not seem to be driving an irrational rise. There are pockets within the market where prices have jumped into double digits in the last year, but overall the Boulder County market is increasing steadily and reasonably. Contact me to find out how to make the market work for you.

Read my OCT 2014 e-newsletter.

Mid Year Check In

Second quarter statistics show continued market strength. The median sales price is up 2.4% in Boulder County for single family homes and 8.1% for condos as compared to 2013 (also a big year). The biggest gains in single family homes were seen in the city of Boulder (up 7.2%), the Plains (up 7.9%), and Longmont (up 5.8%). For condos, the big winner is Louisville (up 12.1%).

Properties are selling quicker too. Single family homes are selling 11% faster and condos are selling 23% faster as compared to 2013. The number of active listings in Boulder County is down 6.6% for single family homes and 11.6% for condos compared with 2013. Overall, the number of sales has been steady in 2014; Boulder and Louisville single family homes being the exception due to lack of inventory.

It's clear that the current market is rewarding sellers who are reasonably priced and ready to go. Buyers can actually realize value too - - with the right approach. Give me a call if you are considering selling or buying. I can help you maximize your opportunities.

Read my JULY 2014 e-newsletter.

The Fix & Flip is Back

With the real estate market remaining hot, the Fix & Flip is once again popular. Buyers who are not interested in taking on a remodel are very happy to buy a home that is already done.  Since interest rates are remaining low, many Buyers can afford to pay more for a remodeled home without their monthly mortgage payment going through the roof. This is a Win-Win for everyone involved. The only problem is the lack of inventory. There simply aren't enough homes on the market to satisfy the demand. This is a great opportunity for sellers who do not want to remodel their home in order to get it sold. If you or anyone you know has been dragging their feet on selling because preparing their property for the market is daunting, please give me a call. I have buyers just waiting for a Fix & Flip opportunity.  

Read my JUNE 2014 e-newsletter.