Boulder County continues to experience sharply reduced housing inventory for sale. Interest rates remain very favorable to home buyers. Covid-19 is reshaping the way we use our homes and the trend is expected to outlive the pandemic.
Last week I blogged on the city of Boulder. Read that post here.
Louisville Colorado Realty Update
Extremely strong Seller’s Market. Think – that moment when Wily Coyote gets zapped. Crazy explosive moment in Louisville. So few homes for sale, each house is experiencing multiple offers as it hits the marketplace. Fidelity Title, one of my recommended go-to service recommendations provides a handy tool. It ranks the market.
Median Price: Stand out characteristic of market in Louisville
The Louisville median home price has jumped around this year. Up, stratospheric, down but still up and currently almost forty percent higher than at the start of this year. Why? My guess would be inventory. Homes started to come on the market this year business as usual. And then suddenly homes were not listed in the same numbers as a year ago.
For Louisville home sellers, this is an excellent market to get your house listed and sold. Contact Bob Gordon now to discuss selling your house. Why now? Why now say versus waiting for all ships to rise in a rising tide a year from now? Okay, here are some good reasons to list your Louisville home for sale right this moment.
- In a good Seller’s market it pays to have your house looking just right – new carpet, paint, improved landscaping, working appliances. All that goes out the window in this moment when inventory is so exceedingly low.
- In normal times, quick closing deals are preferred. Today, you don’t have to worry about your lease. There are buyers ready to take on the lease and wait for the tenant to vacate. In a normal strong market, buyers prefer homes without leases – there are choices. Not so today. Contact Bob!
- The money you will get for selling. Ninety days ago we were in a normal regular Seller’s Market. Median home prices were a fraction of what they are today. If you are going to pick between selling on January 1st – good seller’s market or today – radical seller’s market…this isn’t really a choice. Now is the time to sell your Louisville Colorado home.
And think about it. It’s not like this has been happening for awhile. It’s been happening for a few months. Heck, the best median price point has come and gone. For Louisville Co that was a week in mid February when median prices hit $1.2 million dollars. Compared to that moment, a seller is looking at a 25% loss in median home price.
You can see if you timed the market to sell in early February, there was no competition. A higher priced house or a home selling with issues – not ideal condition, or having a tenant and lease – such factors did not matter when median prices shot up.
Lafayette Colorado Realty Update
Inventory. This would define the Lafayette home market. We have houses for sale. Whereas Louisville had maybe two listings any given day the last several months, Lafayette has had more choices. The year started off with twenty properties listed for sale.
We are at half that number in mid April.
Listen, the common street knowledge is you wait for Spring to list your house and buyers wait for Spring for inventory. Well, anyone following that script is in for a world of hurt in 2021.
Available homes for sale is declining as we race into Tax Season. Just the opposite of what has generally happened in the past. And at an extreme ratio relative to prior years. Sure, home inventories have generally been declining year over year. But this year, it is an extreme where you can say there is literally a fraction of the number of homes for sale.
The good news for Boulder county home buyers seeking Boulder Valley School District is there are houses for sale in Lafayette. For a client that wants to be in Boulder county but is priced out of the city of Boulder, Louisville is commonly the go to spot. Not this year. There are so few homes for sale. So, the smart money is on Lafayette. Just a few extra minutes to Boulder, a lot more inventory to select from.
Longmont Colorado Realty Update
What jumps out for me looking at Longmont are the days on market for homes. Step back to the beginning of this year – seriously, that’s three months ago. At that time it was sixty days on market for an average Longmont home. And now? Two weeks.
63 days plummets to 14 days. There is just no easy way to say that. Sellers are getting their homes sold lickity split. The reason for this is that people are making a move in Longmont. They are selling their house, but still need a place to move to. The seller client gets bombarded with offers. One of the perks buyers offer is a super quick closing and then an extended move out. Say two months. Maybe rent free the entire time. That adds to the owner’s bottom line. And gives them time to go out, find a replacement home, contract & close.
Best Market Conditions To Sell Your Boulder County Home
This is it. The market you wait for. If you are a surfer, maybe you’ve been at the beach on just the right day, at just the right moment to catch an amazing wave. It’s not something that rolls in everyday.
Or, you are a skier. I can recall the perfect day I caught. We drove up to Winter Park early, there was great fresh snow. But, adding to it, the crowds never materialized. Why? Unfortunately, there had been an avalanche that blocked the main route to ski resort. The upside, we had one of the best, least crowded days of skiing I’ve ever experienced. Making fresh tracks well past noon on popular runs.
Of course, I also remember scrambling for a hotel room, because that same freak condition that gave us an incredible day on the mountain, blocked our ability to drive home afterwards.
Once the road was cleared the following day, hordes of skiers descended on Winter Park. Same great snow conditions, but a completely different experience. Boulder county home sellers will be wise to understand, the thing blocking more sellers is going to evaporate and these killer conditions are going to change.
About The Author Bob Gordon Realtor
I’ve been blogging for years now. Selling homes in Boulder Co since 1995. I’m dedicated to giving clients just like you impeccable service, solid communication, always placing your best interests first and foremost. The majority of my business is repeat/referral. But I’m never too busy to assist a new client! In fact, I just helped new clients Rachel and Dylan beat this market on the buy side. They are under contract for merely full price right this moment! Wonder how? Give me a shout!