Is Real Estate In Boulder Getting Stronger? [Market Update]

Here's an update on real estate conditions in Boulder. Most of the following charts were published in the latest Silver Fern Report and apply to traditional, single family homes within the City of Boulder.

Sales Volume

49 properties sold in September. That's down 14% from last month and 4% fewer than September of last year. As you can see in the chart, our market is very seasonal with sales volume typically peaking in June or July and bottoming in January.

Over the last twelve months, 535 houses sold in Boulder, a decrease of 30% from the same period a year earlier. Over the last six months, 335 houses sold, a decrease of 26% from the same period a year earlier.

Only 4 properties sold that were priced above $1MM. There are 149 listings in Boulder with asking prices at or above $1MM listed on the MLS today.

Inventory

There were 509 houses on the market last month, a decrease of 10% from last month but up over 25% from the same period a year ago. In September, it dropped to 2006 levels but still remains high. Inventory is quite seasonal as well.

Inventory Distribution

This chart (new!) shows inventory distribution by price (not published in the SF Report). The slope of the line should give you a sense of the volume of inventory at various price points. 33% of September's inventory was priced above $1MM. The median price is $749,000.

Current Conditions Compared to Average

This chart shows inventory and sales volume compared to each month's four year average. As you can see, sales volume has actually been recovering from this Spring's dismal performance. It's still dramatically lower than the four year average, but it's clearly getting better (or less bad, as you Bears say).

In September, sales volume was off about 25% from the 4 year average and inventory was up about 15%.

------------

For more on the Boulder market, subscribe to The Silver Fern Report. Once a month you'll receive our report showing statistics like Days on Market, Median Price, Absorption, and much much more. It also covers Boulder Attached Dwellings, Broomfield, Erie, Lafayette, Louisville, Longmont, and Superior.

Don't forget - this analysis is just one way we can help you make a smarter real estate decision. We go much further for our buyers and sellers, providing exceptional service, expert negotiation, and straight talk about local real estate. In addition, Silver Fern Homes donates a full 5% of gross commissions to local non profit organizations. If you're thinking about buying or selling real estate, please give us a call at 303.746.6896.

---
The next BOULDER REAL ESTATE MEETUP is October 20th. I hope to see you there!
---
Note: Our goal is to provide exceptional service to our clients. The ideas and strategies in this blog are the opinion of the writer and subject to market uncertainties. Silver Fern Homes recommends careful and complete due diligence before buying or selling real estate or other investments. Consult with your professional advisers before making financial decisions. This article is not intended as legal, tax, or investment advice. Silver Fern Homes will not be held liable for investment choices derived from this article.