We Find Ourselves In A Truly Unique Boulder Housing Market
Yesterday I was a reading an article about how badly real estate agents outnumber listings in today’s housing market. The article was still buzzing in my mind this morning when I opened the Sunday Daily Camera.
Side note – do you get the Sunday paper? It is such a smaller, tinier affair than a few years back. It used to the Sunday newspaper felt as thick as a telephone book. Well, dating myself here, Phone books are relics and most advertising is out of the paper and onto the internet.
Back to the issue. Lack of inventory and its odd impact on the market today.
Re/Max Alliance Runs 2 Ads That Tell The Story
In today’s Sunday Daily Camera (4/25/2021), there are two Boulder real estate ads that really tell the story. In the first ad, Remax Alliance shows fifteen listings for sale. Take a closer look, and you’ll notice four are lots – not even houses. So, effectively that is eleven listings for sale.
Kudos to them. That’s eleven more than I have at this moment. But it is also six offices of Boulder Realtors, so not quite two homes for sale per office.
The second advertisement, which is a full page long, has every agent pictured. I counted them up. 108 Boulder county real estate agents. With eleven listings between them.
People! This is the story that is impacting our nation, state and local real estate market today. There are simply no homes for sale. Or, at least relative to “normal years” just a complete lack of available Boulder homes for sale.
The Remax agents outnumber listings ten to one. Crazy.
Nationally, Statewide, Locally Agents Outnumber Listings
What’s really spectacular about this market is that it isn’t just happening here. The lack of homes for sale is occurring everywhere. Why? Well, for all the ‘work from home/work from anywhere’ hype, the thing is people are still drawn to the same places they were before the pandemic. They just want more house to live their lives.
So we aren’t seeing Millennials take their work from home and move out to the middle of nowhere. Nope. Millennial home buyers want to be in metro urban locations. So Boulder and Denver Colorado continue to see large influx of new residents.
I do hear through the grapevine that renters can find killer deals for apartments in downtown locations. I imagine as the pandemic comes to a close, we’ll see a rebirth of that lifestyle where your school, job, gym and dining are outside of your home in the city around you. But that’s not quite here, not just yet.
How are you re-acclimating to the world out there? I hear that is the next challenge. Trusting in the vaccines and going back to our not-so-long-ago lifestyle. Have you ventured onto an airplane recently? Watching Real Time with Bill Maher a guest mentioned flying for the first time in a year.
What Today’s Home Buyers and Home Sellers Need To Know
Buyers. Another article I read spoke to the reality of submitting offer after offer and being beaten out. I’ve seen a Tik Tok with an apple analogy. The $5 apple eventually sells for a hundred bucks. The first guy to ask about the apple is dumbstruck the entire video.
Boulder real estate home buyers need to understand that multiple offers are more common than not. And homes have a median sales price above list these days. With this sort of competition, a good Buyer’s Agent is going to go a long ways.
Sellers. And those of you on the fence thinking about selling your house. Right now, this moment, is the time to get your house up for sale. Low home mortgage interest rates have buyers in a tizzy. The lack of inventory is going to benefit your sale. A seasoned pro agent is going to help you get top price, in the shortest amount of time with the fewest concessions. I’m here to discuss your home selling needs!