Get the facts, make a smarter real estate decision.
It's never been more important to adjust your real estate strategy to rapidly changing market conditions. Here's how the market really looks in the City of Boulder:
72 single family, detached houses sold last month, down 37% year over year and 29% below average for September. This breaks a 6 year record low. 244 houses sold in the City of Boulder during the quarter, 95 fewer houses than average for the period.
49% fewer homes went under contract compared to last year. September was the 5th straight month of below average pending sales in Boulder.
There were a little over 200 homes in active status on the MLS at the end of September, 17% below average but up a massive 64% year over year.
The median house was on market for 43 days in September, up 16% YoY and just slightly above average.
Note: Denver and Boulder report DOM differently. For Boulder, this chart represents the time from listing activation to closing.
Single family, detached houses in Boulder sold for $504/T.SQFT in September, up 6.3% YoY, well below CPI. Still, even with ups and downs, Boulder real estate has performed exceptionally well in the long-term. The median sale price was $1,191,500 last month.
In addition to pending sales, new listings are a leading indicator for where the market is headed. Boulder sellers brought only 113 new listings to market last month, 16% below average and down 12% YoY. This is the third straight month of below average listing activity.
In our next Newsletter we'll be discussing effective strategies for this uncertain market. Sign up for our Fresh Listings Newsletter, 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.
