There’s been a significant change in the Boulder real estate market this year.
While prices haven’t dropped, and values remain strong; we expect to see a potential continuation of the plateau in the market locally even in Boulder.
One of the predictions leans towards the idea that we’re in a typical cycle of a couple of years of slower growth.
Check out the graph in this post to get a better sense of what’s happening.
It may surprise some people to learn that the number of sold homes is down significantly over the last six months (almost 20% fewer homes sold). With such a volatile market in favor of sellers for the last few years, it’s been a difficult adjustment for many people to make as they wrap their heads around the idea that it’s not an aggressive seller’s market any more.
Now, keep in mind that an ‘even’ market is one where we have an absorption rate (the time it would take to sell all the homes currently on the market for sale) of about five to six months. Up until about June of 2017 we had an absorption rate of around 1.7 to 1.9 months. Now we may be around three months. Still a seller’s market… as long as you’re priced right.
With the exception of the entry level priced homes in the area (Boulder’s entry level price is about $625,000 to $650,000 right now), sellers now have to be careful to not over-price as there are no longer a dozen or so buyers for every home that comes on the market for sale.
Thinking about buying a new home, or getting ready to sell? Call me today!
Zachary Epps, GRI®, ABR®, MCNE®, CLHMS®, SRES®, REALTOR®,
RE/MAX Hall of Fame, RE/MAX Platinum Club
I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.
Also, I’m never too busy for your referrals. As a real estate professional intent on giving back to the community, my relationship-based approach is exactly what you’ve been looking for in a helpful RE/MAX Professional.