The Spring Market

 

Locally, most areas are having a fairly good spring. This is typically the busiest time of year and I know it has been for me. The City of Boulder is doing especially well. Areas such as Martin Acres and Table Mesa are seeing low inventory and strong demand. I have noticed quite a few out of town buyers which is always good. While the inventory is down from last year, there are still enough homes on the market that allow a buyer to be picky. Only the best homes are being placed under contract.

 

A few good indicators of market strength are the under contract ratio and absorption rate. 25% of all single family homes on the market in Boulder County are currently under contract and 32% of all attached dwellings in the County are under contract. These are strong numbers and indicate good market activity. Total sales continue to be down but the number of houses for sale is down as well. It is a smaller but healthy market. Absorption rate measures how long it would take to sell all currently active homes on the market given the current sales rate. Nationally it would take roughly 10 months to sell all of the homes on the market if there were no new ones on the market. Locally our average is around 7 months. The charts below show the details.

 

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