Boulder Market Update

Post Flood Whats Next Boulder Market Update

As the flood waters recede, and we trade pictures of ferocious rivers where once there were fun streams or more likely just roads, we find ourselves asking a simple question. How will the flooding effect Boulder’s real estate market?  This Boulder market update addresses August sales.

Market Continues To Tighten

One school of thought as I write this Boulder market update – the inventory will continue to shrink while demand increases and the Boulder real estate news will be a very strong market.  Factors for this school of thought include:

  1. Tighter rental market as displaced families rent up homes.
  2. Less inventory as some flood effected areas are not for sale.
  3. Increased buyer demand as folks continue to look for a home.

Alternative Viewpoint

The flip opinion for this Boulder market update is that families that were going to buy hold off.   The lack of sales in flooded areas slows the market down.  More families are forced to rent because they cannot sell their flooded homes or lost everything.

So what’s the answer? Hopefully by my next Boulder market update, the answer will shake lose.  Meanwhile, here is the scoop on inventory, days on market and sold property for Boulder Colorado.

Boulder Market Update collage of five houses
Homes in Boulder Market Update by Bob Gordon

 

City by City Sold Update

In August 2013, Boulder Colorado had ninety three home sales.  The inventory was 265 houses.  This indicates Boulder is operating as a Seller’s Market.  The average sales price was $705,854.  Boulder homes went under contract in just 33 days on average.

Lafayette had 32 residential single family sales in August.  This was just under 50% of the available inventory.  A very hot market.  According to the latest stats for the Boulder market update, the average sales price in Lafayette was $422,061.

Longmont’s market saw 113 single family sales in August.  The average sold price was just under $300K.

Louisville remains very competitive and hot!  29 Sold homes for August.  Inventory at 56 units.  Average days to offer is 44.  Average sold price in Louisville is $474,426

Superior Colorado had about one out of two single family homes sell.  Average days on market for August 2013: just 13 — less than two weeks.    The average sold price in Superior/Rock Creek is now $488,627.  This is very close to the median price of $490,000 indicating Superior is a red hot real estate market.  Do you have a property in Superior? Give me a call, let’s get it sold.

View homes for sale in Rock Creek here.
View homes for sale in Louisville here.
View homes for sale in Dakota here.

Thanks for checking out this issue of the Boulder Market Update.  Your feedback is greatly appreciated.

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