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.
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.