2015 Market Review
The real estate market in Boulder County was smoking hot in 2015. The inventory of available properties has been decreasing steadily over the last few years and the number of single family homes for sale in Boulder County decreased an additional 3.8% from a year ago, with attached dwelling inventory down an incredible 42.5%. Demand outpaced supply again this year and the 30-year fixed interest rate remained near record lows hovering around 4% all year, a recipe for appreciation. The median price went up 9% for single family homes in Boulder County this year and went up 15% for attached dwellings. Some highlights from around the county were single family homes in the City of Boulder with a median price up 15%, single family homes in Longmont up 14%, attached dwellings in Louisville and Longmont up over 20% and attached dwellings in Superior up 34%.
Although interest rates have recently started to rise,the rate increases will likely be gradual. All signs are that 2016 will look a lot like 2015: low inventory coupled with low interest rates resulting in a competitive buying environment and more appreciation. I'm predicting a very active first quarter, based on pent-up demand and very low inventory. The first quarter is traditionally an excellent time for sellers to be on the market and 2016 should be no exception. For buyers, being in the market early in the year in order 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 2015. Wishing you and your family a Happy Holiday Season and prosperous New Year! As always, thank you for your support, both through your business and your referrals.