This month’s Boulder Real Estate Report includes a summary of market activity to date, what it means if you are buying, and what it means if you are a seller. Finally, we will give you a quick glimpse into our crystal ball and tell you what we think is ahead. Do enjoy this Boulder Real Estate Market Report.
What’s Happening in Boulder Real Estate?
Spring is in the air and there are more new listings and homes for sale than last year, which is a good thing since the sales were down last year because there was so little inventory.
The short-version of what’s going on in the real estate market in the Boulder area is that we are still seeing a strong market that has cooled off to a *slightly* saner level of intensity. While we are seeing more inventory, we are also seeing more sales at slightly less appreciation than previous years.
A Look at Housing Stats
New listings and homes for sale are up 27.9% (39 more new listings) and 31.6% (+56 more homes for sale than this time last year).
Now to back up that assertion is the under contract numbers (number of homes that have accepted offers) .
We are up 28.7% from this time last year or 29 more homes under contract.
What does this mean for buyers?
The executive summary of what’s going on in the real estate market in the Boulder area is that we are still seeing a strong market that has cooled off a *little* bit – meaning that we are still seeing multiple bids on the “good” homes in the first week – just not as many people making offers and fewer homes are getting multiple offers. While we are seeing more inventory, we are also seeing more sales at slightly less appreciation than previous years.
So, while the Boulder area is still tough for buyers, with interest rates coming down again and home values not appreciating at the same rate as in previous years, this can be the perfect time to buy.
What does this mean for sellers?
Critically, looking at Months of Supply (the rate at which the current inventory will take to be depleted) is exactly the same as last year at a very low 1.8 months. This means while there is more inventory, there are more sales. Also, while low interest rates are most favorable to buyers, they are also very favorable to sellers since they increase buying power and thus can help push home values up incrementally. While this sounds great, the market as a whole is not homogeneous anymore so extra care is needed to create a marketing plan for your specific home, neighborhood, price point, ect. to make certain that you get the most for the sale of your home.
View Real-Time Detailed Listing & Sales Statistics Here
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