Boulder Real Estate Data June 2014

We are almost half way through 2014.  Just as I was reviewing the market for myself and several clients, I received fabulous and much appreciated feedback from a 2013 client.  “More Boulder real estate data blogged please!”  Hmm… I guess I do forget from time to time that the clients not currently looking, are also interested in more regular market updates.  (The clients working with me right now, get current Boulder real estate data, tailored to their needs for the market they are looking to buy or sell in.)

Boulder County Real Estate Data

 

 

 

Starting in 2012 when the market changed from a Buyers to a Sellers market almost overnight, we see increasingly lower inventory levels and a great proportion of the properties for sale actually selling.

Days on market which rises during winter and falls during summer every year here, has been getting lower and lower compared to the same month last year.

Specifically in the City of Boulder:

Are you seeing what I’m seeing?

The charts visually display what the Realtor’s and Buyers/Sellers have been noticing for quite some time.  Median home and condo prices are continuing to rise as inventory is low and buyers compete to purchase.  Only since April have we seen enough of a selection to “make a day of showings” with Buyers. Prior to that, 2014 has been a year of showing 1-2 available properties at a time.

 

May 2014

	Average Sold Price	Median Sold Price	Days to Contract
Boulder Detached	$851,560	$758,500	56
Boulder Attached	$309,850	$273,000	37

Last 12 Months

	Average Sold Price	Median Sold Price	Days to Contract
Boulder Detached	$777,140 (+13.9%)	$638,500 (+8.2%)	34 (-42%)
Boulder Attached	$328,268 (+7.6%)	$270,000 (+3.9%)	43 (-40%)

 

Days on market and number of days to an acceptable offer is received is still record-breaking low. Buyers need to get there quick, know the market and know what they are looking for. (It sounds easier than it is… It takes education and experience and often the first house is potentially the right one, but the Buyer doesn’t know it yet.)B

Buyers: 

Offers need to be crafted thoughtfully. Not only should they be “clean”, but little errors cost time to fix or counter and during that time, another offer may come in, resulting in a competitive situation or the loss of the property to a better qualified or more aggressive buyer.

On top of a good offer from a well qualified buyer, it’s advisable to come in with a few other advantages.  Knowing what the seller wants is a good start.  Knowing what you can offer, that the other buyers may not have thought of is even better!  (Of course Im not going to publish my tips and tricks! Being creative, mindful, experienced and even aggressive is what my clients benefit from. It’s hardly an advantage if I let their competition in on it. LOL)

Sellers: 

Knowing the marketing strategies that attract the buyer you require is vital. Being able to distinguish between buyers, to select the best price and the lowest risk buyer (or *creating them) is crazy valuable too.

Together we use all of our experience, networking, due diligence, gut instinct and real estate knowledge to set and achieve your real estate and personal goals. Strategically giving and withholding information… Using timing, interpreting body language and reading facial expressions to gather data.

When it comes to assessing contracts, it’s more black and white, but no less important.  Colorado contracts and indeed real estate law, change annually. Up to date market and contract information should go hand in hand. Intelligent decisions are made by well informed people.

There is only one way to safely buy or sell real estate in Colorado in this fast moving market.  Have the knowledge, experience and resources yourself… Or partner with a Realtor who does.  Your best interests are at stake!

 

NOTE: I will publish data for Louisville, Lafayette, Erie and Longmont this week too, so come back! 🙂