Market Update For Boulder County December 2022
The news is surprising. Remember, this is county-wide, including all Boulder County December 2022 communities. From tiny homes to mountain homes on acres of land. But, the big number is that average home prices declined year over year.
The average now stands at $973,912. That number is a mere one point four percent less than the same time last year. But the Boulder real estate news is clear: it’s less than last year.
Watch Or Read About Boulder County December 2022 Update Market Conditions
Boulder CONDO Prices SURGE
If there is a yin to the yang (Hey, it is the Lunar New Year), when talking about Boulder County December 2022, it has to be Boulder condominiums. Condos and attached home prices massively jumping nearly fourteen percent year over year in December.
Boulder condos are up 13.8% to be exact. Dollars-wise that’s $585,367 for an average Boulder condo price point.Source: Anthony Meisner, Land Title
Part of the reason has to be that condos are now the most affordable way to buy into the market. Especially true in the city of Boulder but becoming a fact all over the county.
Financing Your Boulder Move
When you consider Boulder as a whole, the county offers a lot of different styles of living. Brownsville feels like the country, while Downtown Boulder, it’s Boulder! LOL. Depending upon where you live, there are all sorts of mortgage programs, from FHA to USDA and whatnot. There are even down payment assistance programs such as CHFA. I can recommend mortgage lenders, please give me a call or text.
Days On Market Boulder County December 2022 Lengthen
We saw homes taking forty-five days to go under contract in December. This is a continuing slowing of the marketplace. It’s a double-edged sword. Home sellers are adjusting to their homes not simply going under contract with multiple offers instantly. And home buyers are having an opportunity to view some inventory before leaping into a new home.
On The Fence? Get off your butt and take advantage of this momentary pause. This is the ideal market for wanna-be home buyers to act. Plus a lender buddy tells me this week that the CHFA down payment assistance program is down to a mere 6.25% this week. Great time to take advantage of our market.
Federal Reserve Interest Rate Hikes Impacting Local Market
Fed rate hikes, which we had so many of last year, caused home mortgage rates to generally increase. Right now, rates are actually softening. As a result, this is a great time to act and find your perfect home.
At the end of December, we were seeing rates that were nearly double what they had been earlier in the year. Higher mortgage rates might have you waiting. Don’t. You can always refinance when mortgage rates come back down.
New Listings Down
New homes coming to the market for Boulder county December 2022 fell to lows we last saw in 2018. That’s not good news. However, we did see an uptick in overall inventory for the county year over year.
What to watch for. If inventory continues to remain tight, Buyers beware. Could be another tough year for purchasers.
Open Houses Are Back
Have you noticed all the Open House signs around town? Open Houses are back in a big way. With the market slowing down, it’s a great way to get the word out about a home for sale. Over the weekend, I viewed a couple of properties just to see what’s coming on the market. I like to keep apprised of what’s out there for sale, for clients, like you!
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Thank you for checking out my blog. I’m Bob Gordon. Realtor, blogger, licensed agent since 1995. I look forward to helping you with your Boulder real estate needs. Happy Lunar New Year!