Happy New Year!
I hope that this New Year has started well for you. I am wishing everyone in Boulder County affected by the floods form last Fall continued strength and support in recovery. In trying to dive into this new year with the increasing speed of the real estate market already this year, it is worth looking closely at how 2013 ended and what we can anticipate for 2014...
In summary, throughout all of Boulder County more properties sold in 2013 vs. 2012 and with less inventory for sale overall properties sold MUCH faster. There is also a noticeable increase in median sold prices across all Boulder County communities. Professionally, my own sales volume increased ~65% increase from year-end 2013 vs. 2012. It was a good year last year, and with one successful closing already this year 2014 looks to be even better!
Currently, as we are into the 1st quarter of this new year the major theme in the Boulder County real estate market is VERY limited inventory/properties for sale. So for owners, this can be a great time to sell your property. Interest rates for qualified buyers are still experiencing lows. Limited supply coupled with affordable financing means it will be a very busy or fast-paced year as I anticipate continued increases in sold values along with decreasing days on market for properties.
I sincerely appreciate the trust and confidence you have in me to assist you in successfully buying & selling Boulder County real estate. I am available to support your needs or answer any questions you may have. I am closely watching market statistics and properties on a daily basis to have the most accurate and current information to share. Please keep in touch or refer me to anyone who is looking for a pro-active teammate! Have a good beginning of 2014!
A Full-Time Boulder County EcoBroker
To download 2013 YEAR-END BOULDER COUNTY SALES STATISTICS CLICK HERE!
AVERAGE INVENTORY - VERY slim pickins! Boulder County is experiencing ~7+ year lows in available properties for sale. This can clearly be seen in all communities and in both houses & condos/townhomes. 2013 ended with a ~17% decrease in Active properties for sale vs. year-end 2012 (679 vs. 814). Here is a dramatic 3-year trend specifically in Boulder: there were only 233 houses for sale at year's end in 2013 vs. 285 at year's end 2012 and 411 at year's end 2011. As we slip into the spring months and into the 2nd quarter, more properties will indeed be coming onto the market, but 2013 year-end statistics clearly show a steady decrease in properties for sale since 2010 (679 vs. 1,353).
QUANTITY OF HOMES SOLD - More properties sold in 2013 vs. 2012! There are noticeable increases in sold volume in all Boulder County communities. Specifically, single-family homes in Boulder sold were up 4.9% (809 vs. 768) and condos/townhomes sold were up ~20% (725 vs. 635) in Boulder in 2013 vs. 2012. This is positive momentum as we anticipate similar to increased sales volume in 2014 a along as properties come onto the market as we go into spring/early summer.
AVERAGE DAYS TO CONTRACT - Muy rapido! With limited inventory in 2013, the pace of the market picked up and the overall number of days on market noticeably decreased throughout all communities of Boulder County. Specifically for Boulder houses the overall average days on market for 2013 year-end was only 40 days vs. 76 days year-end 2012 and 89 days on market year-end 2011. In summary, this means that properties sold twice as fast in 2013 vs. 2011! Boulder condos dropped dramatically from 100 days on market in 2012 to 53 days on market in 2013!
AVERAGE SOLD PRICE - Gains! 2013 also ended with slight increases in the overall average sold prices throughout all of Boulder County. As a whole the local Boulder County market expanded with a 9.25% increase in the 2013 year-end average price of single-family homes vs. 2012 year-end. Boulder specifically had a 2013 average sold single-family home price of ~$755,500 (highest in the county) compared to ~$664,000 in 2012 vs. Longmont average sold single-family home price of ~$286,000 (lowest in the county) compared to ~$256,000 in 2012. Boulder condos average sold price was ~$320,000 in 2013 vs. ~$311,000 in 2012. Boulder County's average home price is ~$481,500 at year-end 2013.
MEDIAN SOLD PRICE - Values are going up! The true statement of the local market value is looking at the median prices, which is at what value/price did most sales occur. It can be seen that there were overall increases in median sold prices throughout all of Boulder County for 2013 vs. 2012. Specifically in Boulder, single-family homes median sold value in 2013 was ~$635,000 vs. ~$579,000 in 2012. Boulder condos median sold value for 2013 was ~$268,000 vs. ~$253,000 in 2012. Louisville homes 2013 median sold price was ~$425,000 vs. ~$400,000 in 2012. Equity is being gained across almost all communities and property types of Boulder County!
To download Dunbar's 2013 year-end newsletter CLICK HERE!