Inventory Dips
The current inventory of properties on the market remains low, creating a sense of urgency for buyers. This is especially the case in Boulder, Louisville and Lafayette, with 42% of median priced properties on the market under contract. This is a high percentage of contracts. The average number at any given point during the year is usually around 30% - even in the summer months.
The current inventory of single family homes as well as townhomes/condos is at the lowest point since 2000. With that in mind, now is a good time to act if you're considering selling. Buyers should be cautious about waiting for more inventory, as current demand may result in price increases. Buyers can take advantage of low interest rates and favorable pricing for now.