What's Happening in Local Real Estate? [Boulder Colorado]

What's Happening in Local Real Estate?
Inventory has cratered to new historic lows.

Boulder: There were only 49 single family houses available for purchase in the City of Boulder last month, down 59% year over year. For attached dwellings (i.e. town homes and condos), there were only 24 properties available, down 79%. 

Denver: 160 single family houses were active on the market last month, down 65% year over year. 185 attached dwellings were available, down 74%. 

Buyers are facing an incredibly aggressive and competitive market. The majority of homes are selling for more than list. This creates a precarious situation and high risk for buyers who waived inspection, only to later find the home they purchased has serious issues, or those who have overpaid for properties that didn't deserve a bidding war in the first place. As Warren Buffet once said, "When the tide goes out, you find out who is swimming naked."

Sellers face different risks and rewards. In addition to increased potential liability, it's not uncommon for sellers to leave significant money on the table from mishandled bidding wars. Some sellers who did not pre-inspect their listing may also find themselves selling for far less when the first buyer bails out on the deal. 

If you're in this market, choose your real estate advisor carefully - why us.

Like this content? Check out Fresh ListingsIt's our review of the most compelling new listings to hit the Boulder and Denver real estate market | Subscribe  

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.