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The health of the Boulder housing market is getting a lot of interest. Here's a sneak peak from my latest real estate update.For March, the preliminary number shows 35 home sales in Boulder, compared with 60 that occurred last year - a 42% decline, year over year. Sold property ranged in value from $345,000 to $2,625,000.
There are currently 498 homes in inventory on the Boulder market, 57 of which are under contract. This implies 12-14 months of inventory.
As regular readers know - there's a huge difference between the market for luxury and basic homes in Boulder. For example - the top three sales last month (average price: $1.7MM) show a pattern of being listed two or more times before a successful sale, with average days on market of 244. Meanwhile, the three lowest priced sold property (average price: $358K) were on the market an average of 100 days. The average for the three lowest could have been much lower than 100, but one of the three was on the market for longer than the other two combined (seller originally asking too much - i.e. walk of shame).
If you'd like to learn more about real estate conditions, strategies for getting the best deal, or other local real estate issues - attend my monthly Boulder Real Estate Meetup. During the meeting, I'll share my latest analysis on market conditions and provide participants with a list of sold property. You'll also have an opportunity to ask me and other real estate professionals questions about your specific real estate situation.
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The next Boulder Real Estate Meetup is April 6th. It's am opportunity to talk about real estate issues in Boulder with professionals in the field. The Meetup features a friendly, zero sale pressure environment with short, boredom free presentations on real estate related topics. We discuss everything from property values, to insurance issues, to local non-profits. You're invited! Please RSVP here. I hope to see you there.
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image: miyukiutada
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Ready to buy or sell? Schedule an appointment or call 303.746.6896.
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As always, your referrals are deeply appreciated.
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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.
Ready to buy or sell? Schedule an appointment or call 303.746.6896.
You can also like our Facebook page or follow us on Twitter.
As always, your referrals are deeply appreciated.
--
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.
