Boulder Real Estate Sales Analysis

Surprise! The local real estate market in August showed strength, despite the gloom and doom about real estate in general. Here's how things looked in Boulder.

Single Family Home Inventory:

There were 522 homes on the market in August. That's down about 5% from last month but continuing about 23% more than last year. As the inventory chart so nicely illustrates, Boulder's market is seasonal. Expect inventory to continue to decline steadily for the rest of year.

Single Family Home Sales Volume:

There were 99 sales in August. That's an increase of about 7% from July and about 1% less than August of 2005. Overall, the market appears to be sustaining sales at about the same pace as last year. From January through August there were 684 homes sold. Last year's so called "hot" market saw 699 homes sold during the same period. That's 2% difference year/year. Not terribly different in my eyes.

Single Family Homes Days to Offer:

For the third month in a row, we've had slightly elevated DTO numbers from the previous few years. The average sold home in Boulder was under contract in 41 days. That's still the lowest DTO of the year. The previous lowest was August of 2005. Of course, now that the frenzy of summer's selling season is over, we should start to see it creep upwards through the end of the year.

My overall impression of Boulder's market is one of continuing strength. As I pointed out in my recent post on the breakdown of Boulder's market by price range, most segments of the single family home market have less than 5 months of inventory.

For luxury home buyers, there's more selection. If you're shopping at prices above $1MM, the numbers suggest you can take your time because for every buyer in the past three months there are several homes available. Homes in the $1.6 to 1.9MM range are the softest segment of the market (and thus the best segment to shop).

Meanwhile buyers at the low to mid range are continuing to snap up the most desireable properties. If you're shopping for homes between $300,000 and $700,000 and happen to find your dream home , I recommend moving fast. If you like it, chances are so will others. In Boulder's market, newly listed properties that are well priced continue to go under contract quickly.

Tags:Boulder Colorado Real Estate Boulder Real Estate Market Analysis Single Family HomesSales
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