How's The Market? [Analyze This]

How's The Market?

The stand off between buyers and sellers continues, yet the market is far less dire in Denver and along the Front Range than many buyers would have hoped. Prices have fallen from the peak, mostly due to interest rate shock. Many buyers are waiting on the sidelines, disappointed by extremely limited and often overpriced inventory. 

The data and anecdotal reports from colleagues also show that many potential sellers are simply refusing to list during a down period. Given the run-up in value over the last few years and the much higher qualification standards since the Global Financial Crisis, most can afford to wait. New listings have been mostly estate sales, divorces, and work relocations.  

The chart on the left shows the median sale price (on a $/SQFT basis) of single family, detached homes in Denver. From the peak, prices are down 16.6% and down 2.9%, year over year. Boulder County has seen a drop of 23.4% from the peak and is also down 2.9%, year over year.

You'll find many more charts for Denver, the City of Boulder, and Boulder County on my Instagram with discussion on my Twitter feed. Charts for Lafayette, Louisville, Superior, Longmont, and Fort Collins are also available to clients by request. Just call me. 

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.