• Rich Gribbon

Quick Market Update

I'm following up again this month about the slowing real estate market since that is the hot topic these days. It's too soon to prove it statistically, but the Boulder County market appears to have topped out around mid-May of this year. Your property may not be worth quite as much as it was a couple of months ago, but it's still worth more than it was a year ago. The market traditionally slows in summer and this year feels a bit slower than usual as buyers proceed with caution because of the higher interest rates. As we get further into the year and I have more stats, I'll be able to tell you about any market changes more accurately. In the meantime, I want to provide you with some information to keep everything in perspective. We are coming out of the craziest real estate market I've ever experienced and slowing down is healthy in my opinion. These stats show that the real estate market is still very strong and stable:

Based on the current stats, the Boulder County real estate market is still very strong. For sellers, you will need to price your home more aggressively in order to get it sold, but it should still be a premium price compared to a year ago. For buyers, there are more homes to look at and prices are more negotiable. The higher interest rates will reduce your purchasing power, but getting a better home for a lower price can offset the higher rate. Please reach out if you want to discuss the current market and how I can help make it work for you, whether you are buying, selling or both. All the best, Rich

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