Sunday, June 04, 2006

May, 2006 - Boulder Sales Analysis (Preliminary)

by Osman Parvez


It's been a few days since I last blogged. Real estate activity with clients and terrific weather have kept me from the task. For those of you unfamiliar with Boulder in the summer, there's always something happening outdoors (today's adventure)

So what's happening in the market? Here's a sneak peak at Boulder's sales numbers for May and how current inventory is shaping up as we move into the peak summer selling season.

The good news is that the sluggishness of April and March seems to have dissipated. The market in May was very similar to May of 2005, and residential real estate appears quite healthy in the City of Boulder.

The official numbers aren't quite out. This is my preliminary analysis.

Home Sales
Sales Volume: 101 Homes sold in Boulder in May, 2006 up about 3% from the same period last year. Median Price: $565,500, down 2.5% from May '05. Median DOM: 61 days, 1 day more than May '05.

Home Inventory: 397 Homes currently available (not under contract) with median DOM of 45.

Condo and Townhome Sales
Sales Volume: 103 units sold, up about 4%. Median Price: $264,000, down about 1.7%. Median DOM: 77 Days, down 8.3%.

Condo and Townhome Inventory: 448 units currently available (not under contract) with a median DOM of 56.

Note, when I chart the data later this month, inventory numbers will appear higher because the data source I normally use treats properties under contract but accepting backup offers as "available."

If you have any questions or would like further details about the current market and how it might affect your real estate strategy, feel free to call me at 303.746.6896.



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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

2 comments:

  1. MaybeBoulderIsMyNextStop6/05/2006 07:11:00 PM

    Looking forward to the charts. (I like apples to apples.)

    Quick note on your statistics:

    On 100 homes sold, you would expect statistical variation to be +/- 10 homes. So the 3% increase in homes sold is noise.

    The median decrease won't tell me too much. Look forward to the $/sq ft #'s.

    Thanks for the stats.

    ReplyDelete
  2. I agree.

    With such small sample sizes, small variations from month to month are not statistically significant. Median price in particular is notoriously erratic.

    If you have a specific investment objective or type of property in mind for when you might move here, perhaps I can work up something for your situation. It will be much more relevant for you than overall $/sqft. Feel free to contact me if you'd like to discuss.

    ReplyDelete