How's The Market?One of the most important things many fail to understand about real estate is its hyper-locality. From a big picture perspective, this is evident if you are to compare County vs City statistics in Boulder. Across the County, there were 17.4% more single family home listings this October than the previous year. In the City of Boulder (COB), there were 35.7% more houses for sale, more than double the increase.
Prices have fallen across the board. Last month, the median sale price for a single family house in the County was $354/SF - a drop of 10.1% from the peak. In the COB, the median sale price was $546/SF, a drop of 8.5% from the peak. Meanwhile, some sellers are still getting bidding wars, though this activity is rare. It only exists for certain price ranges, property types, and neighborhoods. It's also sometimes an indicator of intentional underpricing as a tactic for a fast sale. In some cases, it's sheer stupidity, often encouraged by an unethical and dishonest buyer's agent.
Sales volume in the COB was surprisingly robust last month. 73 detached houses transacted, an increase of 19.7% Year over Year. Boulder County saw 235 transactions, an increase of 12.4% year over year.
Market segmentation and variance is not just city vs the county. Home type, updates, year of construction, neighborhood, and of course price range have a massive influence. Longmont is not Boulder, and Louisville and Lafayette also behave distinctly from each other. When it comes to understanding the market, the importance of local and property specific factors simply cannot be overstated. It varies right down to the street level.
If you're a client, past or present, and you're thinking about selling your home - don't hesitate to reach out for an analysis of what's happening in the market for your potential listing. We're always happy to hear from you, and our priority remains to serve you, even years from when you last purchased or sold a home.
If you're thinking about buying next year, my advice is to start looking now. Look, but don't necessarily buy. There are signals that the market may have bottomed, and the fourth quarter has always been when we're able to negotiate the best terms for our buyers. Across the Front Range and in all the markets that we serve, right now, you also have far, far more selection than in previous years. Just remember, you have another 30 days or so before optimism takes over and the seasonal pendulum swings the other way.
The best way to reach me is to call. You can find me at 720.310.5007. | 
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.