Most Recent Boulder Real Estate Sales Data

Overview Boulder Sales Data

Real estate is selling in Boulder Colorado. Fast, and for better prices than in previous years.  By now, you’ve heard – inventory is down; houses are selling faster and with multiple offers.   I’m going to break down the most recent Boulder real estate sales data.

Here is the information you need

In October, Boulder had 68 house sales. These ranged in price from a low of  $210,344 for a three bedroom home in the City of Boulder Permanently Affordable program to a high of $3,400,000 for a stunningly gorgeous house on 21st Street.  The average sales price was just under $800K.  The graphic shows that the average home went under contract in 38 days. What it doesn’t show is that six of those houses were under contract in under 10 days.  Fall is a slower market and yet, homes continue to come on the market and sell rapidly.  Why?

• extremely low inventory
• great interest rates that are starting to increase significantly
• pent up demand

Not counting the City of Boulder PA program house, the most affordable sale in Boulder in October rang in at $365,000. This was discounted from $385,000 list price.  Another reminder of why it is a great time to consider a home purchase in the Fall/Winter – lower consumer demand can lead to deals for buyers during the holidays.  Sixty South 31st Street was one of the properties to go under contract in under ten days in October.  It was a well priced, original condition – i.e. needs work – home.  The buyer got a deal. Similar houses from the summer of 2013 were taking multiple offers and selling for better than list price while at a higher price point.

Breaking down the most recent Boulder real estate sales data

• Broomfield has the fastest segment of the market.  Homes average 30 days to contract.
• Longmont has the highest unit volume, but also the lowest ratio of inventory to sold homes, with slightly less than one in three selling.  Erie comes in second in this category.  What does this suggest? More sellers are coming to the market in outlying portions of the Boulder Colorado market.
• Superior and Louisville are hot real estate markets.  About one in two homes sells in each city. And quickly, averaging 32 days on the market.  With a strong price point that is close to FHA limit.
• Sales are slow in the mountains and on the plains.  Keeping the flood in mind, these numbers may change suddenly as the area dries out and recovers from the major flooding we experienced.

 What To Expect

Interest rates are going up.  Rates are mostly being propelled by the stock market – over 16000 and fear of a change to Federal Reserve policy.  No change has been made, but every time the “minutes” from a meeting are released, rates go up.

Meanwhile, sellers, beware.  All this good news is creating a lot interest in selling for top dollar. I expect to see an increase in the amount of inventory available this Spring. End result – market will probably  balance from Seller’s market to neutral.  More on the most recent Boulder real estate sales data this week as I break down attach dwelling units and more.  I will add links here in the coming days.

The National Association of Realtors met recently as well. At that meeting, Chief Economist Lawrence Yun predicted a steady market, continued demand, more. Read an in-depth article here.