September 2019 - Real Estate Market Report for Boulder CO

Dated: October 20 2019

Views: 129

Fall is here! We love Fall … and Winter, and Spring, and Summer! It’s all fantastic here in Colorado and we enjoy the change of seasons as we look forward to snow sports! The snow is flying already at altitude, while we enjoy warm days and cool nights here in the Front Range! The real estate market is “holding its own”.
Boulder Market Statistics

While we continue to see more price adjustments and longer days on market than last year at this time, homes that are strategically marketed and priced are selling well.

Number of sales in Boulder and the surrounding towns is slightly down (4.4%) from a year ago and there are 51 fewer sales from last month (down 11.6% to 390 sales).

The average price is $695,000, up 13.0% from this time last year. And the Median price is $522,000, up 1.2% from last year.
(what this means is that the upper end market is what’s driving prices up, more so than appreciation of all homes, which is nearly flat compared to prior years.

The median Days on Market is also up by 9.3% to 47. (Keep in mind that we’re still seeing homes priced well in good condition sell in the first weekend, it’s just not happening as often or in all markets or segments. We’re also seeing homes get 1 or 2 offers in multiple-bid situations vs 7-10 from last year.)

Interestingly, the top of our market is doing well – The over $2m market is still strong with the most growth in the $2-3m band (75% increase from last year to 7 sales last month). The over $3m is flat (6 sales) from last year, and by comparison, the $1.5-$2m market is off 53.3% (down to only 7 sales this year) yet the $1m-$1.5m market is up 13.3% to 34 sales!

So what does all this mean? The market is fractured and different towns, neighborhoods, streets and price-points are behaving very differently from each other, so if you really want to know what’s going on in your market for your home, you should really contact a professional who does this for a living. We’d be happy to come by and give you a free assessment!

A Quick Review of Boulder’s Housing Stats

How long does it take a home to sell in the Boulder area? Well, days on market is up by 16%, from 36 days to 42 days on average. This is an average. Some homes will sell in 3-7 days, others will linger longer.

What does this mean for home buyers in Boulder CO?

buying a home real estate agent and coupleIt’s sale season. As we near the holiday season, listings that have been on the market for an extended period are likely to be more negotiable if the seller wants or needs to sell before the end of the year. While the inventory is a bit slim, there are still plenty of great homes on the market! With interest rates so low, the buy-in cost is lower than it has been for a while, especially here in Boulder County. Give Jason a call to discover your true buying power. You will be pleasantly surprised!

What does this mean for home sellers in Boulder CO?

While the stats show that we are still in a “seller’s market” with 1.6 months of inventory, this is only true if you line up your sale properly. By that I mean, a strategic and aggressive marketing plan that is carefully executed to showcase the best features of your home to the appropriate target market. These are not the days to put a sign on front lawn, put it in MLS and get a sale. This is when your realtor has an opportunity to truly shine by partnering with you to place you in a strong position

If you’re in the market to sell, give us a call to talk. Because real estate is hyper-local, we will look at your home and hyper-local market to help you determine the best path for you. Our professional consultation is confidential and free.

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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. Prior to real estate....

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