Market Update: Inventory Dives
The current inventory of properties on the market remains very low, creating a high sense of urgency for buyers. Multiple offers are occuring frequently. This is the case all over Boulder County and the lower the price range, the hotter the market.
Currently, more than 50% of the houses in Boulder County priced at or below median range are under contract. In the City of Boulder, 72% of the houses priced at or below the median are under contract.
The market is improving at the higher ranges too - 42% of Boulder County houses priced above the median are under contract. This is a significant percentage; the average number at any given point during the year is usually around 30% - even in the summer months. The shortage of inventory is resulting in an improvement in the townhome/condo market as well. In the City of Boulder, 50% of townhomes/condos are under contract regardless of price range.