The shaded area in the chart above represents the 3 year average, per month. The yellow line is the most current data. The error bars represent 1 standard deviation.
After the Covid lock down lifted, new listings spiked in May and the usual peak in new listings was pushed back by a month. Last month, new listings were nearly 24.9% above the 3 year average but down 4.3 % year over year.
Total inventory of town homes and condos in Boulder has been elevated for some time. In certain price ranges and locations, there is very little market activity. Meanwhile, a flood of newly constructed rental properties are expected to hit the market in the next 12-24 months. The high-end may be an exception, with spectacularly low inventory and few options.
92 town homes and condos sold last month, 29.6% above average and 13.6% higher, year over year. This is the highest monthly sales volume since July, 2015.
There were 79 pending sales in July, 63.4% above average and 43.6% higher, year over year. The data suggests we're going to have a robust late summer and early fall real estate season this year.
Remember: Intelligent real estate decisions are based on deep market knowledge. The charts above are for the City of Boulder. To understand the market for your specific property (or property search), you need to analyze conditions for the appropriate price range, location, and property type.
If you're thinking about buying or selling real estate in Boulder, give us a call. We serve the real estate market from Denver to Boulder, and all points in between. We occasionally also venture further afield for trusted clients.
Our goal is to help you make a smarter real estate decision.
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.
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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. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
