We're still about a week from the official data release for February. Let's take a look at the preliminary numbers for Boulder Real Estate. The following analysis is for single family detached homes (i.e. no condos or town homes).
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Sales Volume
42 houses sold in Boulder last month, about the same as the previous year. Over the last six months, 334 sales have occurred - an increase of 5%.
Inventory
Inventory remains excruciatingly low. Only 166 single family houses are currently on market of which 95 are actually available (not under contract). Inventory is more than 30% lower than last year at this time. As the season picks up, more sellers will come to market but don't expect a big flood. Ultra low inventory appears to be the new reality, note the 3+ year trend shown in the chart above.
Absorption
No surprise, strong sales and low inventory translate to high absorption. The preliminary number is 30% for February, well above the long term average high for the year (which typically occurs in June).
Strategy
If you're thinking about buying or selling Boulder real estate, call me. I can help you get the most from current market conditions and make a smarter decision. ph: 303.746.6896.
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