There are at least a few opinions on what happens in any real estate market. Some is sheer speculation, and some is grounded in hard data and intimate knowledge of the local market. We intend to bring you the most honest possible assessment of the Boulder County market and welcome your feedback and questions anytime. Read on…
2018 WAS A GOOD YEAR
2018 was a good year. However, it could be classified as not as good as prior years or … if you are a buyer, you’re thinking, “thank goodness the appreciation train has slowed down to a more reasonable rate”!
While the number of sales are down by a small 2% margin (or 35 fewer home sales) to 1616 homes sold, this can be mostly attributable to fewer homes being listed for sale (2263 new listings, down 2.8% from 2017).
The average sales price is up 11% to $888,194. The median sales price is $715,000 up by 6.4%. FYI, this includes affordable housing sales and everything in between. And, more houses over $2 million sold in 2018 than ever before.
Days on market is down 12% All of this points to a very strong market, even with other markets nearby and nationally starting to cool off.
Seller’s market or buyer’s market?
Inventory and sales pace determine whether we are in a buyers’ market or sellers’ market:
3 months of inventory or less = sellers’ market
6 months of inventory or more = buyers’ market
Between 3-6 months of inventory = balanced market (very rare)
Thinking of buying or selling? Or both? When is the right time? What should you do to prepare yourself to maximize your value proposition? How do you make the best possible decisions? With education and information, of course. As Boulder local real estate experts we are here to serve all your residential real estate questions and needs. Give us a call at 720-295-1604 or email Jason@Homes-in-Boulder.com