How's the Market? [Analyze This]




How's the Market?
Welcome to extreme real estate. Our increasingly dire problem of too little supply and strong demand has reached new levels. Inflation, mobile workers, expectations for higher mortgage rates in the near future, and a new influx of buyers from the Marshall Fiire have resulted in a frenzy unlike any I have experienced in my nearly 20 years of real estate. We're still finding success for our buyers, but let's just say it's been a lot more fun for our sellers.

January data is still preliminary, but for the areas in which we focus our business activity (select parts of Boulder and Denver), 80% of new listings that closed in January sold for a premium to the list price.  The median premium to list in our dataset was 8.6%.  The high water mark was 28.3%. Only 8% of new listings sold for less than list. 

Typically, about 30% of homes sell for a premium, which was considered normal in the recent past. This new normal is something else, and it's happening across the board - at all price ranges and locations. 

Note: My data set is arbitrary, but I did take the time to sort homes sold prior to listing, non arms-length, or otherwise not open market transactions.  

What does this mean for your buying or selling strategy?  Give us a call. I'm happy to talk to you about your specific situation and how to successfully navigate these turbulent waters. 
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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Thinking about buying or selling and want professional advice?  Call us at 303.746.6896. 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. House Einstein strongly recommends 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.