Red HOT Housing Market

Outdoor Gear Selling Out And So Are Houses

Reading the news today, it is just about impossible to find bicycles and kayaks. Since the pandemic began, outdoor gear has been flying off the shelves. And you know what? The garages and basements and houses where we live and store that gear has been selling like hotcakes too. We are in a red hot housing market these days.

Common attributes of a market like this include multiple offers and nonstop booked showing windows on homes.

Think back to just six months ago – it was a different world. Pre-pandemic it was common to be showing a house and bump into another showing or three scheduled at the same time. Not so today. For health reasons showings no longer take place simultaneously. And as a result, not everyone is always able to see any given listing that comes on the market. When I get that phone call, “Hey Bob can you show me a house” I jump. Its more imperative than ever to give our clients top service in getting into houses and being competitive when purchasing.

In some ways, it might be easier to buy a kayak. Once you are on the list, when it comes available, you get your chance. Houses, you know no two are the same. And finding the right place can be all emotions. So its more important than ever to have the best agent assisting you when it comes to looking at homes for sale.

Fidelity National Title Boulder Housing Market Update

Super helpful of the various title companies to supply monthly market updates. Funny though, no two are the same. Fidelity National Title talks about the red hot housing market in Boulder this month.

Median home prices are now hovering at one million, two-seventy-nine. Nearly one point three million bucks. When I started in the Boulder CO real estate market place back in the mid nineties, you could find homes for a fraction of that price.

The red hot Fidelity housing report also points out that Boulder is clearly in a Seller’s Market advantage now. What’s that mean?

Sellers Market Conditions

When you have more home buyers than sellers, more parties interested in purchasing houses than available inventory of houses for sale in Boulder Colorado, you find yourself in a Sellers Marketplace. And we are here now. This has never been more true than for the entry level portions of the marketplace.

Here you’ll find the red hot housing market in overdrive with the average priced home at about 3/4’s of a million dollars selling & closing in under two months. That’s fast. First time home buyers need to know they are likely to encounter multiple offers and Boulder county homes selling for better than full price.

In a red hot housing market its hard to find the right place to call home. But worse yet, in a pandemic it can be hard to find bikes and outdoor gear as well. This Corona-virus era is really something.

Denver too Experiencing Red Hot Housing Market In 2020

Its not just a Boulder thing. Down the turnpike (Hwy 36 to latecomers to the area) the Denver metro area is experiencing a similarly red hot housing market. Read about how everyone wants to move here and then not have anyone else relocate to the Colorado region. Last week I was making phone calls for a college event.

There are hundreds and hundreds of alumni from the small Midwestern school of Ohio Wesleyan University now living in the metro area. This is quite the change. A few years ago, when I first got involved, there were a fraction of the people here. Colorado is The Place to live these days.

Prepare, Plan, Execute

Your best bet in this market is be prepared. For instance;

  • Getting a mortgage? Get pre-approved and then go the extra step of getting final approval pending an appraisal and title policy.
  • Wondering how to compete in the market? Discuss appraisals, inspections and other deadlines before you find “The House.”
  • Using a co-signer? Make sure everything is all set before you start.
  • Buying from out of state? Have a local friend or family member on call to view favorites and Facetime!

My job, as your Realtor, is to help you navigate these red hot housing market waters and succeed in your bid to get your dream home under contract and sold. I’m Boulder real estate pro Bob Gordon and I look forward to helping you get your dream home.

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