Unlike last month we are even more inventory constrained than this time last year and there are some anomalies in the data...We are down 15.6% for new single-family home listings from this time last
June 2023 Boulder Real Estate Review
Dated: June 9 2023
Views: 264
Here's the executive summary: Sellers are finally starting to sell, and buyers are still buying...
Yes, there is more inventory, longer days on the market, (slightly) lower average sales price, fewer homes sold - BUT, the housing market is not declining (we're not even close to tanking since appreciation is up 1.9% from 2022-2023) and we're still seeing multiple offers. #marketconfusion
So what are the numbers really telling us?
The short version is that yes, while we have more inventory, the core of the market is still deeply undersupplied. If you look at the price bands inside the city of Boulder, there is a glut of near-luxury ($1.8-3.5m) homes. 5 came on the market last week. 3 were sold. Compare that to the entry-level (sub $1m) home, 8 came on last week, 7 sold. Those higher-priced homes are more affected by higher interest rates and lagging stock portfolios. Hence multiple offers on the lower-priced homes.
While YoY we do have more homes than last year, because of the slope of the graph, we are on track to be as or more undersupplied than last year.
That declining sales number? Since sales numbers are a lagging indicator, all that shows is how inventory-constrained the market still is.
Longer days on the market? Yes, many homes are still selling in the first week, but not all, and certainly not the overpriced homes which are sitting. This shows that there is a disconnect between buyer and seller expectations.
And home prices?
Well, all that is reflecting is that we are finally getting some of the lower-priced-band homes to come to market. HINT: the average price of a home in Boulder is NOT $2.385M, but it was the average price of the inventory available to buy a few weeks ago!
So to wrap up, we are starting to see single-family homes head towards a more normal, balanced, market. Meanwhile, condos and townhomes are still very much inventory constrained.
As usual, all of this is still relative to which micro-market you're in. If you're looking to update your property's equity data, reach out. We are happy to help you with that!
Call or text us at 720-295-1604 or send an email to info@homes-in-boulder.com
Jason Kay & Trish Giassa
Since 2013 Jason has been honing the skills to provide you with one of the best experiences in selling or buying your home: one that is as smooth and as stress free as possible. He's gotten so good th....
Latest Blog Posts
What does the housing market is "tight" mean? ...it's complicated ;-)Below is a cool snip-it from the July 11th Market Briefs newsletter (click to subscribe to Market Briefs for free)Tighter housing
Here's the executive summary: Sellers are finally starting to sell, and buyers are still buying...Yes, there is more inventory, longer days on the market, (slightly) lower average sales price, fewer
​​The last few years of non-normal have totally disrupted the real estate market and cadence, and yet we’re trending to what was “normal.” For Colorado, Boulder
Information deemed reliable but not guaranteed by the MLS. © 2026 Information and Real Estate Services, LLC.
Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules. © Copyright IRES.
The information being provided is for the consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing.
The IRES, LLC Data on this
