July 2013 Boulder Area Market Sales Statistics
|
By clicking on this link, you'll access the Boulder Area Realty Associations July 2013 (BARA)statistics on Year over Year comparisons on Housing (Single Family Homes) and Condo/Townhome Sales broken down by town in Boulder County. These figures were just released from BARA, and I'm happy to share them with you and to interpret the various data points and their importance to owning property in Boulder County, Denver, and the Front Range. As the information notes, owning Real Estate in Boulder County or investing in property for Property Management purposes continues to enable positive appreciation gains.
The Median Sales Price provides a more accurate sales figure over the Average Sales Price, resulting in near across the board increases in price over 2012's figures, while the Average Days to Contract figure enjoys a near universal drop as well. Both of these data points reflect our continuing housing recovery trend, which we expect to realize well into the short term.
We experienced a frenzied real estate market earlier this year that has started to slow down; but while the market has cooled, it remains stronger and more active than it has been for years. Across all of Boulder County, inventory of available homes remains 22.4% below the levels we recognized last year. While inventory is down, buyer activity -as represented by the number of homes under contract- is up 20.2% over the levels we recognized last year. Interestingly, total sales are not up as much as the number of homes under contract. This year, sales through July are up 11.4% over the same period in 2012. While these metrics are still positive for price appreciation, we've started to see more supply and less demand than we had this spring, so expectations are that price appreciation will remain positive but moderate through the rest of the year.
The cooling we've started to experience has not been uniform across all price points, neighborhoods, or cities in Boulder County. The lower end of our pricing spectrum just about everywhere remains very active and in demand. Multiple offers, buyers competing over properties, and offers over Asking Price are still common. As we move up the pricing spectrum the market does start to show signs of slowing down, but there are some pockets in the over million dollar market that are very active. Naturally, some cities are much more active than others. Lafayette, Longmont and Louisville all remain bright spots with at least 50% of their homes for sale under contract.
Another interesting aspect to the current market change is that the market has shifted with more activity into the attached home market. At the start of this year, single family homes and attached homes were about equally active with each other. Now, attached homes are 52% under contract while single family homes are only 42% under contract. This change may not have much significance other than just a shift in what buyers are purchasing this summer, but it's an interesting data point to see if this is signaling some larger shift in demographics or buyer preference as we move forward.
If you have any questions or concern's on the value of your property, or are thinking about selling, please be sure to let us know; as I'm happy to serve as your reference and resource for your Real Estate needs. My email is Kevin Chard (kevin@phoenixrealtyinc.com) and I may be contacted in the office at 303-666-4300; I look forward to working with you!
*All data taken from September 2013 Boulder Area Realtor Association
|
