Friday, June 27, 2014

Eye Candy and Boulder Sales Volume - Analyze This

by Osman Parvez
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Ready for more analysis of Boulder real estate?    Check out the following. 

You're looking at sales volume for the period January 1 to June 15 for the past several years.     Houses are green, town homes and condos are orange (a nice peas and carrots effect, don't you think?)

Real estate closings have slowed.   Condos and town home sales have dropped about 4% but home sales have fallen far more.  Sales volume is down nearly 21%.   Don't trust one of my competitors telling you differently.   They're selling you something (or clueless).   

It's not a one month aberration either.  April was the only month with sales higher than last year.   Take a look at the table on the right showing a break down of monthly sales volume for houses (click for a larger image).  The % change only refers to 2014/2013.    

A good part of this is driven by a lack of selection.   As of this writing, there are only 179 houses and 147 condos/town homes on the market (not under contract).  

What Choice Do You Have?

Available houses start at $60K (for a double wide on Valmont) to $6.8MM for a 9,000+ SF of mind blowing trophy home on nearly an acre at 5th and Kalmia.  The median asking price is $920K with an average ask of $1.3MM.   Here's the full list of what's available

Condos start at $108K and stretch to $3.9MM.   The median price is $347K the average is $517K.    Here's what currently available

Note the skew between median and average.    It's another big factor slowing down sales in Boulder.   If you're limited to the lower end of the market in price, your options are slim to none.  

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Ready to buy or sell? Make a smarter real estate decision.  Call me at 303.746.6896. As always, your referrals are deeply appreciated.  

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