About This Boulder Real Estate News
Reviewing the sales data for August, with a specific look at the city of Boulder Colorado and single family residential sales. Summing up August 2014 Boulder Home Sales : values are up, but volume is down year over year. Entry level and affordable home buyers are finding extreme competition and skyrocketing home values. And the luxury home market – for houses in lofty million dollar plus market – is doing well. This post reviews home sales with a focus on the residential luxury home market.
#1 Most Interesting Housing Stat of 2014
August 2014 Boulder Home Sales continue to build upon the most intriguing statistic of 2014. The number of homes that sell before ever entering the MLS. Four homes sold in this manner just in the city limits of Boulder. Two of the homes were Luxury million dollar plus properties. For me, this suggests the demand in Boulder is still on the rise, even if sales were overall slowing in August versus the prior year.
Missing Statistic For August 2014 Boulder Home Sales
There were only three expired listings in all of August. No withdrawn homes. Just a mere three houses that didn’t manage to sell. This is a stunning statistic.
What Sold In Boulder August 2014
There were eighty five home sales in the city of Boulder Colorado for the month of August. Of these, all but three sold through the local IRES mls. The other three August 2014 Boulder home sales were in metrolist, an MLS more focused on Denver.
Pricing ranged from $264,900 for a single family house with NO permanently affordable restrictions to $2,750,000 for a gorgeous Mapleton Hill Denver Square home. Seven homes were under contract inside of a week or less. The gross value of all August 2014 Boulder home sales is just a tad under $70 million dollars.
Luxury Boulder Residential Real Estate
During August, there were nineteen homes sold for one million dollars or more. This is a very strong segment of the market, representing nearly a quarter of all residential transactions for the month. And consider that the previous year, there were merely eleven million dollar or better home sales. August 2014 Boulder home sales saw a 73% jump in sales volume. The most expensive sale in 2013? It was about $400K less than this year.
The question then becomes, is the luxury home market doing better in Boulder or did more homes sell for over a million dollars? And if it is the later, are the price increases changing the dynamic of the market and reducing overall interest?
An additional point of interest: compare August 2013 to August 2014 Boulder home sales for timing, and you see luxury homes today are selling in 57 days compared with 90 a year ago. That’s about a month quicker. So, even though overall the market is less active this year, for luxury million dollar plus houses, it is faster with a higher price point and significantly better volume than the previous year.
Check back for part ii – focusing on the rest of the residential market place. Other posts you may appreciate include:
July Market Update
June Market Analysis
Alfalfas Louisville
2nd Quarter Louisville
August Attached DwellingsBoulder Condos 2nd Quarter