In the next few days I’d like to present a few more recent statistics compiled from year end sales figures from IRES (our Northern Colorado MLS). Today I’d like to present inventory numbers by price range for Boulder County. Next I will present a graph that will show you the best months in which to sell your home.
As I have mentioned before, inventory as I figure it is a comparative statistic. If you take one figure itself it may not agree with other figures such as Days to Offer or Days on the Market. Inventory shows the relative strength of a given area, year and in this case price range. It freezes a point in time and says “given what we know, how will the future look”. In this case we know how many homes have sold for any given range during the past twelve months. We then compare this known on a monthly basis to another known, how many homes on the market. We then compare these two figures by dividing the number of active homes currently on the market by the average number of sales per month during the past tweleve months. This gives us the number of months it would take to sell all of the current listings assuming that there are no new listings coming on the market (of course this would never happen).
So for today I’d like to show the relative strength of different price ranges in Boulder County for both single family homes and attached dwellings and compare those numbers to what I compiled at the end of the third quarter.
Single Family Homes – In general you can see that as prices rise so does inventory. The price ranges through $700,000 are around 5 months of inventory while the prices above $1,000,000 are at least 10 months and up to 20 months for homes above 1.5 million. You can see that all inventory numbers are below those recorded at the end of September. We did have a reasonable fall but I think some of this has to do with sellers taking their homes off the market for the Holidays.
Attached Dwellings – There is less variability in condos and townhouses until you get to the luxury segment above $600,000. Most of the numbers are between 4 and 8 months with the average being 6.02 months.
Have a great week! Note the photo of the Flatirons shown above was shot this morning from the parking area of the 29th Street Mall
across from my office. Cold, but a beautiful blue sky!