Smaller Market – Strong Market
The number of real estate closings for single family residential homes in Boulder County was down 8.8% from March 2007. This continues a trend that has been steady for the last 18 months. There are fewer buyers and surprisingly there are fewer sellers. The market has been contracting but normally you would expect to see more homes for sale, increased inventory and a lower under contract percentage. But we are seeing a strong market. The inventory of available homes in the county is below 6% and the ratio of active homes that are under contract is near 30% in many locations. It is a strong market right now, it is just smaller than it has been in recent years.