Across the board for all property types (single family houses & condos/townhomes) in all communities of Boulder County, there is a noticeable lower amount of properties for sale on the market. Inventory of Boulder homes specifically, shows a steady year-to-year decline over the last 4 years. I have literally been working with numerous buyers who feel like "there is nothing to buy" as they have seen all available inventory with their criteria. This "thin" inventory of properties for sale has led to competing offers as demand has exceeded supply in some price ranges & neighborhoods.
Days to Contract
Almost all Boulder County communities and property types (single family houses & condos/townhomes) saw decreases in the Days on market (from Day 1 on Market to Closing Date) in 2012 vs. 2011. There were only slight increases in Days on Market for the 3rd Quarter 2012 vs. 2011 for Broomfield and Louisville homes only. Boulder houses, specifically, decreased from ~80 Days on Market from 2012 vs. 2011 and averaged less than 60 Days on Market. This is remarkably fast in that most financed purchases will take 30-45 days just to close the loan, which means the "available" time a property is for sale before it goes under contract decreased to ~15-30 days throughout Boulder!
Quantity of Homes Sold
The sales season was upon us for the 3rd Quarter!! This is the true graph that shows a positive upward trend throughout the Boulder County real estate market, as every community and product type (single family houses & condos/townhomes) saw more sales in 2012 vs. 2011. This is worth repeating: every single community in Boulder County sold more in the 3rd Quarter of 2012 vs. 3rd Quarter of 2011. This is VERY encouraging, as we continue to see more buyers successfully purchasing & sellers successfully selling local real estate (even in the Mountains). Let's think positively towards a continued upward trend in this category as we move forward into 2013!
Average Sold Prices
Median Sold Prices
When I truly want to know what "price points" are selling, and what is the trend line doing value-wise for a community, I stare closely at the Median Sold Prices each quarter. Throughout almost all Boulder County communities for the 3rd Quarter we are seeing what is selling increase in price, as Median Prices show slight increases. Boulder houses that Sold in the 3rd Quarter, specifically, show an increase 2012 vs. 2011 in Median Price to ~$565,000, while Boulder condos/townhomes that Sold in the 3rd Quarter, specifically, also saw slight increases 2012 vs. 2011 to ~$255,000.