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Dunbar@DunbarHardy.com
DUNBAR HARDY

Category: Sales Statistics (14)

Aug
08

SOLD – 636 VIRGINIA STREET, GOLDEN

This nice ranch home located below North Table Mountain in Golden just successfully sold. It went under contract in 6 days and sold in a total of 30 days (with a loan) at 96.5% of the list price with a final sales price of $259,500. Due to limited available inventory in Golden, it was not surprising that this property sold so fast, especially since it was priced within the range of the comparable properties sold data. Pleased to have represented the sellers on this successful transaction. On to the next one.... 636 Virginia Street, Golden - SOLD
Jul
26

2ND QUARTER 2011 BOULDER COUNTY SALES STATISTICS

Overview - Happy Summer! I hope you are doing well and I will attempt to answer the recurring question, "how's the market doing?" In an attempt to have an accurate perspective of current market trends from the 2nd Quarter of 2011, I have put together the last  3 years of 2nd quarter sales statistics to see how we really are doing right now throughout all Boulder County communities. Again, it is worth noting that throughout 2010 there was a Federal Tax Credit for 1st-time Homebuyers which drove a significant portion of transactions last year. So in a sense 2011 sales figures are not all affected by a Federal Tax Credit and the government, so we have a return to "normal" market conditions. In summary, things are indeed selling and values are largely holding overall (other than in the Mountains), but they are just taking longer to get to the closing table. Avg Inventory
Avg Inventory - We have seen steady high levels of inventory in Boulder single family homes & condos/townhomes, as well as Longmont single family homes over the 2nd quarter of the last 2 years. So in summary, there truly has been more on the market for sale and the amount of inventory will take awhile to be absorbed, which truly makes these specific areas a "buyer's market." We can also anticipate a decrease in inventory as we go into the 3rd quarter as some of this inventory will be purchased, others will come off market (Withdrawn), but mainly the peak sales season will be behind us going into Fall.
Days to Contract
Days to Contract - At the completion of the 2nd quarter of 2011 we have had a noticeable increase in Average Days to Contract on Boulder single family homes. Yes, Boulder houses are selling, but they are taking longer - Averaging ~90 Days of Market up from ~60 Days on Market 2nd quarter of 2010. Noticeable is also a steady trend line of Boulder condos/townhomes taking ~120 Days on Market. There have also been increases of Days on Market in 2nd Quarter 2011 vs. 2010 specifically in Broomfield (homes & condos), Lafayette (homes), Longmont (homes & condos), Louisville (homes), Superior (homes), and Mountain (homes). Nothing is really selling "fast" in Boulder County!
Median Sold Price
Median Sold Price - There is a consistent median value of Boulder homes over the 2nd quarter of the last 3 years running (~$550,000), also with noticeable increases in median values of Boulder condos, Lafayette homes, Superior condos, and Plains homes & condos. There is a very noticeable decrease in median values of Mountain homes, as well as "softening" of Superior home prices, Erie and Lafayette condo properties.
Avg Sold Price
Avg Sold Price - There is also a fairly consistent trend of Average Sold Prices for Boulder homes (~$650,000) and a slight increase in Boulder condos (~$325,000). We are also seeing some large properties out on the Plains sell with Average Sold Prices holding ~$600,000. Most communities have remained fairly consistent over this time period, however there are noticeable decreases in average sold prices of Mountain homes, Erie condos, Lafayette condos, and Louisville condos.
Quantity of Homes Sold
Quantity of Homes Sold - At the completion of the 2nd quarter of 2011, we have seen steady sales occur in Boulder (~225), Broomfield and Superior homes, but noticeable decreases in sales of Boulder condos (~160) compared to 2010 (tax credit influenced?) and Longmont homes & condos. We can anticipate further steady sales going into the 3rd quarter, as 2nd & 3rd quarter see the majority of sales activity when compared to the rest of the year. Properties are indeed selling and values are largely holding steady other than Mountain properties primarily.
Apr
12

1ST QUARTER 2011 – BOULDER COUNTY STATS

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.
Summary
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. 
Mar
15

FEBRUARY 2011 BOULDER COUNTY SALES STATISTICS

The New Year is off and running and we now have 2 months of Boulder County sales data to look over and analyze in attempting to answer the question "how's the market doing?" Average Inventory (2/11 vs. 2/10)There were overall fewer properties on the market (both single family & condos/townhomes) throughout the County in all locations with only a slight increase in Boulder & Broomfield condos/townhomes. We will undoubtedly see inventory increase throughout all locations as we got into March & April. Average Days to Contract (2/11 vs. 2/10)Overall the days to contract decreased for homes in Boulder, while increasing in most other locations in the county. Condos/townhomes sat on the market longer other than in Louisville & Superior units. Remember days on market been broken down further even to the specific neighborhood to more accurately determine. Quantity of Homes Sold (2/11 vs. 2/10)So far the trend line shows that largely throughout the county fewer homes sold other than in Louisville. With condos/townhomes, Broomfield & Erie saw increases in sales, while everywhere else was equal or less than Feb. 2010. Again, this is fairly typical as we see sales increases as we go into the 2nd & 3rd quarters of the year. Average Sold Prices (2/11 vs. 2/10)Boulder saw increases in both single family and condo/townhomes sold values. There were also nominal gains in the median sold prices in Longmont & Superior in both single family homes & condos/townhomes as well. Even with slightly decreased sold prices in other locations it is encouraging because there is not a dramatic drop-off in values.