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Here we are going into the "busy season" of Spring & Summer with an anticipated increase in inventory and of successful transactions in the 2nd & 3rd quarters. Before the "busy-ness" of Spring/Summer overtakes us, I just received the 1st Quarter Sales Statistics of Boulder County and these are worth reviewing to see how exactly 2011 is shaping up in comparison to the 1st Quarter of 2010. Quantity of Homes Sold (1st Q 2011 vs. 2011) Most areas of Boulder County saw less sales overall, with the most significant drop-off in Boulder itself in both single family homes & condos/townhomes. A few increased number of sales occurred in Louisville single family homes and all types of properties on the Plains. Average Sold Price (1st Q 2011 vs. 2010) Sales Prices overall were relatively stable with increases in single family homes in Boulder, Lafayette, Superior, and the Plains. There were very nominal increases in condo/townhomes sales only in Longmont and Louisville.
Median Sold Price (1st Q 2011 vs. 2010)
The median pricing of 1st quarter sales for single family homes stayed fairly consistent, with increases only in Superior and the Plains. Condos/townhomes saw increases in median pricing in Broomfield, Louisville and Superior.
Average Days to Contract (1st Q 2011 vs. 2010) 1st quarter is typically a slow time of year, however there was a decrease in the days on market-to-contract for single family homes in Boulder, Erie and Longmont. Condos/Townhomes saw a notable decrease in days-to-contract in Boulder, Louisville and Superior.
We have been a bit sluggish to start the year so far, but new inventory is coming onto the market every day. With well-priced properties for sale in this "peak market" time of year, average days on market tend to decrease and the number of solds tend to increase. The real question remains "at what value will these sales occur?" Market value will always be determined by what qualified buyers can & will successfully pay for properties. The "market value" trends are what I will monitor on a daily basis this time of year...
To download 2011 1st Quarter Boulder County Sales Statistics click here