Thursday, April 28, 2016

Boulder House Inventory UP 20%, Condos DOWN 33% [Analyze This]

by Osman Parvez
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Time for a quick market update.  

Here's our latest inventory analysis for Boulder real estate markets compared to last year. 

Total inventory of attached dwellings (AD) in the City of Boulder is 33% lower. Boulder and Superior are both showing substantially higher inventory, while percentage under contract is mixed.   

 As Boulder County's largest real estate market, Longmont is the big story. It's a bastion of affordability and an important barometer of market conditions. In Longmont, inventory is 7% below last year while the percentage under contract has climbed markedly. 

Data for smaller markets like Louisville and Lafayette tend to be more highly volatile. Although percent under contract has dropped, this is more likely driven by a lack of selection rather than reduced buyer demand. 

As spring moves into the summer selling season, market conditions will likely remain heavily weighted towards sellers. If you're a buyer, your negotiation strategy and tactics should be based on a street level analysis of recent sales. Sellers need to exercise caution in pricing and marketing to maximize sale price.  If your Realtor can't or won't provide that sort of guidance, get a better Realtor

In this crazy market, real estate decisions are made under pressure. Mistakes are costly. In recent months, we've seen poorly advised sellers leave $100K+ on the negotiation table. We've also seen buyers ignore basic due diligence, regret their decision and look to immediately resell. Frequent bidding wars drive prices well above any semblance of intrinsic value and we've seen frightening inspection issues overlooked by desperate buyers. 

Remember, intelligent real estate decisions are based on a deep understanding of market conditions.  When you're ready to buy or sell, call us at 303.746.6896. Our goal is to help you make a smarter real estate decision.

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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. 

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