May, 2006 - Boulder Sales Analysis (Preliminary)

by Osman Parvez

It's been a few days since I last blogged. Real estate activity with clients and terrific weather have kept me from the task. For those of you unfamiliar with Boulder in the summer, there's always something happening outdoors (today's adventure)

So what's happening in the market? Here's a sneak peak at Boulder's sales numbers for May and how current inventory is shaping up as we move into the peak summer selling season.

The good news is that the sluggishness of April and March seems to have dissipated. The market in May was very similar to May of 2005, and residential real estate appears quite healthy in the City of Boulder.

The official numbers aren't quite out. This is my preliminary analysis.

Home Sales
Sales Volume: 101 Homes sold in Boulder in May, 2006 up about 3% from the same period last year. Median Price: $565,500, down 2.5% from May '05. Median DOM: 61 days, 1 day more than May '05.

Home Inventory: 397 Homes currently available (not under contract) with median DOM of 45.

Condo and Townhome Sales
Sales Volume: 103 units sold, up about 4%. Median Price: $264,000, down about 1.7%. Median DOM: 77 Days, down 8.3%.

Condo and Townhome Inventory: 448 units currently available (not under contract) with a median DOM of 56.

Note, when I chart the data later this month, inventory numbers will appear higher because the data source I normally use treats properties under contract but accepting backup offers as "available."

If you have any questions or would like further details about the current market and how it might affect your real estate strategy, feel free to call me at 303.746.6896.

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.