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Happy Autumn, dear blog readers.
Hot off the presses, here's our latest inventory analysis of Boulder real estate market conditions through October 1st. Think you know what's happening? You might be surprised...
The typical seasonal pattern shows a significant drop in both inventory and percent under contract. This year is far from typical. Total inventory has remained steady and the percentage under contract has trended higher.
The drop in inventory at this time of year is well established for the Boulder market, which makes the current market behavior unusual. If seasonally adjusted, this chart would show an increase. It appears more sellers are getting motivated and listing their homes. Perhaps sellers are fearful of an economic downturn or rising rates before the end of the year, both scenarios which point to a cooling housing market (on a national level). This is nothing like the end of the last real estate cycle, by the way, where inventory had ballooned massively and transaction volume started to trail off.
This second chart shows inventory of condos and town homes in Boulder. Again, the brown line represents the total inventory and the blue line is the percentage of inventory under contract. In this case, the market is following a more typical seasonal pattern. Inventory has been trending downward but the percentage of inventory under contract has remained steady.
Buyers and sellers should note the relative differences between these markets. The selection is much higher and competition lower for houses. Condos and town homes have far less inventory and much higher relative demand.
Remember, this is a 30,000 foot analysis. If you're serious about buying or selling Boulder real estate, you need to know detailed market conditions and negotiation norms for your specific neighborhood, property type, and price range. Smart real estate decisions are based on deep knowledge of market conditions. If you're tired of losing out in bidding wars or want to maximize the value of your real estate sale, give us a call. We're happy to talk to you about your unique real estate situation. ph: 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.
Want to get blog updates via email? Click HERE.
Ready to buy or sell? Schedule an appointment or call 303.746.6896.
You can also like our Facebook page or follow us on Twitter.
As always, your referrals are deeply appreciated.
--
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.
