Market Update [Analyze This]

Market update for Boulder. Accompanying charts tell the story:

Preliminary data shows sales volume for detached SFR was down 24.4% last month in #Boulder County, compared to the same time period a year ago. 323 fewer houses sold during the full quarter 3Q22 compared to the average of the past three years. This is the fourth month in a row of below average sales volume.

New listings hitting the market were 13% below average last month, and down about 10% year over year.

Pending sales plunged in September. Only 224 homes went under contract in Boulder County, 36.7% below average and down 36.4% year over year.

The median sale was $321/SQFT last month in #Boulder County, down 18.5% from the peak but still up 7.4% YoY. Inflation (CPI) was 8.3% in August. This suggests prices have begun to decline in real terms.

The annual peak in prices typically occurs during summer months. By the end of the year, it's quite normal for the median sale price to have dropped (historic range: -5% to -11%).

Meanwhile, the median $/SQFT was $321 in #Boulder County last month, down 18.5%. The peak also occurred earlier during the year, in March.

Keep in mind that this data is preliminary, particularly for sales volume. It's not uncommon for Realtors (and their offices) to need a few days to update the MLS.

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.  

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.