Listing Inventory Report for Boulder County
Supply and demand is an economic concept for which most people have a fairly good understanding. As there are more products on hand each becomes less valuable and the more time it may take to sell all of them. If there are just a few products available (think X-box 360 or Cabbage Patch Kids on Christmas Eve) the value people place on them increases and they are snatched up in a fury. The same type of supply demand thinking can be used with regard to real estate. Supply is the number of homes on the market at any given time and the demand is the rate in which those houses typically sell.
The supply and demand in real estate can be boiled down to the phrase “how long is it going to sell my house?” The chart below shows the results of my recent investigations by area and price range. The current numbers are compared to September and December of 2006. The average amount of time to sell a house is in the 5.5 month range. As the price of the home goes up, the time on the market goes up. The chart below shows data for all single family homes in Boulder County.
The chart below compares the City of Boulder to Boulder County and Weld County. Weld county has higher inventory rates at almost all price ranges. Above the huge spike at $800,000 there are so few homes for sale the numbers get funny. What about the big spike you may ask? Last year in Weld County 2 houses sold that were priced between $800,000 and $900,000. Currently there are 25 houses on the market in that price range. Hopefully some high net worth buyers want to relocate to Weld County.