- There were a ton of vacant houses and condos for sale. This is a result of the softer than normal rental market. Many landlords have decided that selling was a better idea than trying to get a tenant only to find that it was a pretty tough year to find a buyer. Especially when the property was not in pristine shape.
One of the statistics I love for comparison purposes is “months of inventory”. This statistic relates houses currently on the market to the number sold during the last 12 months. The chart below shows the amount of inventory in months for the different sub-areas in Boulder County. The inventory is derived by dividing the number of current listings by the average number of sales per month during the preceding 12 months. It answers the question, “how long would it take to sell the homes currently on the market?”. The inventory is the greatest in the mountain areas and the lowest in Louisville. Both Erie and the mountain areas showed improvement from December 2005.
Although the figures for the County are similar, in general the inventory is higher for attached dwellings.
I will continue highlighting year end statistics in the coming days. Stay tuned!