Happy Spring Season! With the end of the 1st Quarter of 2012 already behind us, the market is literally taking off and roaring into the Summer Season! Gathering 2012 1st Quarter Sales Statistics, I have been able to put together a 4-year 1st Quarter (2009 - 2012) comparison to show "how's our market doing" right now. Buckle up, as we could be in for a BIG 2012!
In summary, sales are noticeably increased in the 1st Quarter (compared to 2011) throughout all of Boulder County, with Boulder and Longmont Sold homes specifically seeing 4-year highs. This increase in Solds is coupled with a 4-year low in the amount of available properties for sale in some markets within Boulder County. This dynamic has created is a bit of a "frenzy" with multiple offers on well-priced new properties placed on the market, and some properties even selling above their asking price. Boulder homes specifically saw a 4-year high in Median Sold Prices, with increases in Median Sold Prices of homes throughout almost all Boulder County communities. Buyers need to act quickly in pursuing new properties on the market. While sellers accurately pricing their homes when placing them on the market, can expect a busy 2nd Quarter of the year.
The market is busier than it has been over the last 4-years, and there is some good positive momentum going into Summer. We will see how Boulder County keeps going into the 2nd Quarter of the year…
Quantity of Homes Sold:
Sales are Up! Houses specifically in Boulder And Longmont saw 4-year highs in Solds for the 1st Quarter of 2012. There were increased homes sold in Broomfield, Lafayette, and Superior, while Boulder, Lafayette, and Superior condos/townhomes also saw an increase in Solds when compared to 1st Quarter 2011. All of these increased Sold volume in these markets throughout Boulder County are perhaps the most encouraging signs I am holding onto as we look at a "good" 2012!
Average Inventory:
Thin! That is the phrase for limited new inventory on the market throughout the 1st quarter of 2012. The 1st Quarter is historically a slow time of year for properties coming onto the market, but 2012 saw a 4-year low in terms of available homes for sale throughout all of Boulder County. The most significant declines in available inventory were houses specifically in Boulder and Longmont along with condos/townhomes in Boulder. This limited supply has created a demand in these specific markets as we now go into the 2nd Quarter of 2012.
Days to Contract:
The 1st Quarter of the year typically has slower traffic, as there are more buyers shopping for homes in the later Spring/Summer months, so 1st Quarter Days on Market typically are longer than most other quarters of the year. Of the homes that did sell in the 1st Quarter 2012, there were actual decreases in the Days on Market in for homes in Broomfield, Erie, Lafayette, and Superior along with condos/townhomes in Erie, Lafayette, Longmont, Louisville, and Superior when compared to 2011. There were increased Days on Market specifically for Boulder homes and condos/townhomes, as well as Broomfield condos/townhomes.
Average Sold Price:
Boulder proper specifically holds its place as the highest real estate values throughout Boulder County, followed by the Plains, which is considered to be larger properties/acreage of ranches and/or some unincorporated parts of the county. There was a ever-so slight decrease in the Average Sold Price of Boulder homes for the 1st Quarter of Solds in 2012, while there was a slight increase in the Average Sold Prices of Boulder condos/townhomes. Overall there were flat to slight increases in Average Sold Prices were seen in homes in Broomfield, Erie, Lafayette, Longmont, Louisville, and even in the Mountains for the 1st Quarter 2012.
Median Sold Price:
One of statistics out of the 1st Quarter Solds in 2012 that caused pause, was a very notable 4-year high in the Median Sold Prices of Boulder homes to $600,000+. This was pushed upward because of some discounted upper-end homes finally finding buyers and getting some great-valued large deals done. Boulder was not alone in this increase in Median Sold Prices, as homes in Broomfield, Erie, Lafayette, and Louisville also saw notable increases. In the condo/townhome world, there were slight increases (when compared to 2011) in Median Sold Prices specifically within Boulder, Lafayette, and Longmont markets.