How About Those Autumn Deals? [Analyze This]

--- by Osman Parvez

Last month marked the beginning of bargain season.  Are there still deals out there? 

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Properties scored this week: 

1602 Violet Ave
2232 Holyoke Dr
4775 McKinley Dr
2665 Sherwood Cir
766 Furrow Way

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From writing the offer to sitting down at the closing table, most non-cash transactions take 30-45 days. In order for a low offer to be compelling, it must close before the end of the year. If you wait much longer, most sellers will decide to take their chances with next year's crop of buyers than deal with a low offer now. 

Market Update 
First things, first. 

Intelligent real estate decisions are based on deep market knowledge and the Boulder real estate market is doing interesting things. 

As the chart above shows, inventory for attached dwellings (i.e. town homes and condos) is a whopping +41% above average for October. Buyers in the city have plenty of selection and should feel confident walking away from the negotiation table if they can't get a fair price. Stale listings offer more potential for steep discounts, just be sure you know the comps before you make your offer. 

Pending sales for attached dwellings were down almost 13% for attached dwellings last month. Don't expect a flurry of closings in November. We advise sellers to take every offer seriously. Yes, even the low balls. 

The situation is not quite so dire for detached dwellings. Inventory was 32% above average last month. Most of this glut is concentrated at higher price points. 

Pending sales for detached homes spiked upward in October - 23% above average (outside 1 standard deviation, if you're still reading T.) 

County wide, Inventory was +22% above average in October (attached and detached dwellings, combined). Pending sales were up +11% above average. 

Whether you're buying in the County or in the City, bargain shoppers have unusually good selection fourth quarter. Take advantage of it.  

Note: It's still early in the month to publish accurate sales volume for October. Agents are still updating the MLS. I'll publish the complete series later this month on our Insta.

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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.