Thursday, June 27, 2013

Pending Sales and Inventory Availability [Market Update]

by Osman Parvez

Here's a quick look at pending sales and inventory availability across Boulder County.    The key metric:   Percent of inventory currently under contract.    


The chart above shows inventory of homes under contract with a buyer for Boulder, Boulder Attached Dwellings (town homes and condos), Longmont, Superior, Louisville, and Lafayette.      

Perhaps a surprise to many, Boulder has 40% under contract; less than adjacent markets.     Louisville is leading the region with 61% under contract. If you're a buyer, flip that around.    Boulder has more available inventory than any other local market.     If you're shopping in Louisville, good luck.  You may have to look at unlisted and upcoming properties, like this one

The majority of homes under contract will close within 30-45 days.  Buyer remorse is increasingly a factor, largely driven by bidding wars.    Just because you lost the bidding war doesn't mean you won't get the house.    A backup offer may be warranted.  Talk to your agent for details.  

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