Louisville Archives - DUNBAR HARDYDUNBAR HARDY

Category: Louisville (5)

Apr

2012 1ST QUARTER SALES STATISTICS – BOULDER COUNTY

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.

Jan

2011 YEAR-END BOULDER COUNTY SALES STATISTICS (3 YEAR TRENDS)

Happy New Year! I hope the Holiday Season went well for you. With 2011 just ending, I have been able to gather all of the year-end data, conduct a 3-year comparison (2009 – 2011), and create a very good snapshot of current market conditions as we go into 2012.

In summary, Boulder County shows signs of being a relatively “stable” market over the last 3 years in terms of values/pricing largely holding even. This is encouraging as much of the national news is “doom & gloom” with tremendous loss of value. With the overall trend of Colorado and specifically Boulder County population growing, properties are indeed selling. Properties might be taking a little bit longer to sell over the last 3 years, but again, prices/values show a steady-flat trend line.

AVERAGE INVENTORY (2009 - 2011)

We have seen a downward trend in homes for sale (less inventory) in Boulder –specifically from 2009 – 2011. In Boulder-specifically, we have had a very comparable amount of inventory between houses for sale & condos/townhomes for sale. We are also seeing an overall general trend (from 2009 – 2011) of flat/even to slightly decreased inventory of properties for sale (both homes & condos/townhomes) in every Boulder County community.

Quantity of Homes Sold (2009 - 2011)

We have seen a similar amount of home sold in Boulder in 2011 vs. 2010, with less condos/townhomes sold in this same timeframe. Ultimately, more houses have sold vs. condos/townhomes in Boulder from 2010 – 2011. We have seen slight decreases in homes sold in Broomfield, Erie, Longmont, and Superior from 2009 – 2011, and slight increases in the quantity of homes sold in Lafayette, Louisville, in the Mountains, and Plains properties. While looking specifically at the condo/townhome market, we have seen a noticeable decrease in the properties sold in Boulder, Longmont, Louisville, and Superior from 2009 – 2011, with more or less stable condo markets in Broomfield, Erie and Lafayette.

Average Days to Contract (2009 - 2011)

We can see a noticeable increase in the number of days on market (DOM) for homes over 2009 – 2011 in Boulder (~85 DOM), Lafayette (~85 DOM), Louisville (~65 DOM), and Superior (~70 DOM). The condo/townhome market overall has a noticeable trend of longer days on market vs. houses-specifically. From 2009 – 2011 there is a dramatic increase in days on market for condos/townhomes in Boulder (~150 DOM), Broomfield (~135 DOM), Lafayette (~100 DOM), and Longmont (~105 DOM).

Median Sold Price (2009 - 2011)

There is a slight increase in the home prices that have sold in Boulder- specifically from 2009 – 2011 (~$550,000), with most other communities stabilizing/even over the 3-year trend. Worth noting is a slight decrease in median home prices in Superior and in the Mountains. The median sold prices of the condo/townhome market have seen some increases in Lafayette & Superior with stable prices overall in Boulder, Broomfield, Longmont, and Louisville.

Average Sold Price (2009 - 2011)

With the potential for greater discounting on higher-end & acreage properties, we have seen a slight increasing trend in the average sold prices of homes in Boulder (~$675,000) and on the Plains (~$625,000) from 2009 – 2011, whereas all other Boulder County communities are showing a stable/flat trend-line of average sold values. Minus a decrease in Erie condos/townhomes, we are seeing a relatively stable/flat trend-line of the average sold prices of condos/townhomes throughout Boulder County.

Please contact me if you you like more specific neighborhood/location statistics, as I would be glad to support you however I can!

Oct

BOULDER COUNTY 3RD QUARTER SALES STATISTICS 2011

Happy Fall! Here we are going into the 4th Quarter of 2011, and wow, this year went fast!! As we prepare to go into the Winter/Holiday season, 3rd Quarter Sales Statistics were just released and are definitely worth a review to look closely at the Boulder County market. In summary of the 3rd quarter of 2011, Boulder County has noticeably seen more houses & condos sold (compared to 3rd quarter 2010) specifically in Boulder, Broomfield, Longmont, and Louisville while maintaining values with a roughly even - flat trend line in terms of average sold prices of houses & condos throughout the County.

AVERAGE INVENTORY (3rd Quarter 2011)

Average Inventory: There is a noticeable trend of less inventory of homes for sale specifically in Boulder (!), Erie, Longmont, Louisville, and on the Plains. THe condo/townhome inventory throughout the County has largely maintained and is similar to 3rd Quarter 2010. This decreased amount of inventory of houses in the 3rd quarter can possibly be affected by some "more ideal" houses being sold earlier in the year within the 2nd quarter, but also with relatively flat appreciation it is not an ideal time to sell, so some sellers are just "waiting it out" and not even putting their homes on the market for sale.

QUANTITY OF HOMES SOLD (3rd Quarter 2011)

Quantity of Homes Sold: There are noticeable increases in homes sold specifically in Boulder, Broomfield, Lafayette, Longmont (!) and Louisville. While there are also noticeable increases in condos/townhomes sold in Boulder, Lafayette, Longmont, and Louisville. For the limited amount of housing inventory on the market, houses are indeed selling. Boulder houses/condos sold strong through the Summer, while Longmont houses saw the greatest increase in summer sales activity. This can be accounted for Longmont houses typically having the lowest average & median homes prices throughout Boulder County.

DAYS TO CONTRACT (3rd Quarter 2011)

Days to Contract: Yes properties are selling, but there are some increases in Days on Market (compared to 3rd Quarter 2010) specifically with houses in Boulder (averaging ~80 days on market), Lafayette (averaging ~95 days on market. Other communities actually saw slight decreases to equal amount of days on market compared to 3rd Quarter 2010. The condo/townhome market saw some very different trends in the 3rd Quarter with very noticeable increases in days on market in Broomfield, Erie, Longmont, and Louisville. The Boulder condo market stayed on par with 3rd quarter 2010 averaging 120 days on market. Overall it can be seen that condos/townhomes take longer to sell than houses.

AVERAGE SOLD PRICE (3rd Quarter 2011)

Average Sold Price: Houses specifically held values overall throughout Boulder County in the 3rd quarter of 2011 vs. 2010. There were nominal increases in average sold prices of homes in Boulder, Broomfield, and Lafayette. The highest home values are specifically in Boulder and in the Plains (larger acreage properties). The condo/townhome market largely throughout the County held even in terms of average sold pricing.

MEDIAN SOLD PRICE (3rd Quarter 2011)

MEDIAN SOLD PRICE: When looking more closely at solds in the 3rd quarter of 2011, we can answer the question "what price point has been selling?" Boulder-specific home median values have held even with 3rd quarter 2010 (~$550,000), while slight decreases in median sold home values can be identified in Broomfield, Erie, Longmont, Louisville, Superior, and definitely in the Mountains. Median values for condos/townhomes saw increases in the 3rd quarter specifically in Boulder, Lafayette, and Superior, while slight decreases in median sold values could be seen in Broomfield, Erie, and Longmont.

In summary of 3rd Quarter 2011 sales statistics, some general themes are that properties are indeed selling more than last year, they are taking longer to sell, and they are overall holding values throughout Boulder County.

Sep

BOULDER COUNTY SUSTAINABLE HOME TOUR – 10/2/11

For his year's tour, the Center for Resource Conservation has partnered with other non-profits and government groups in Boulder County to showcase technologies, tactics, and services that help make our community more sustainable. Energy conservation, water conservation, waste diversion, local food production, transportation, community programs, and more will be featured from the perspective of the homes and community centers that will be on tour in Boulder, Louisville, and Lafayette. There are a total of 20 homes and community points of interest featured on the 2011 tour. The tour is scheduled for Sunday, October 2, 2011 10am - 4pm. For additional information click here. Tickets are available at the following locations: Center of Resource Conservation Office 2639 Spruce Street Boulder, Co. 80302 & Steinbaugh Pavillion 824 Front Street Louisville, Co. 80027

Jul

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.