Current Market Conditions
I will present three recent statistics to give a snapshot of the market conditions in Boulder County. For simplicity, the I will only present data for single family homes.
Total Number of Sales:
During the month of April there were 276 residential closings. This was down just one unit from the same month last year. Year-to-Date we are down 6.3% when compared to last year.
A snapshot of median prices does not always tell the full story. However, it seems like we are having more sales in the lower end of the market than the upper end. Perhaps this is a result of tighter credit for larger loans. We have not seen a drop in prices across the board but many buyers are driving a very hard bargain, especially for homes that have been on the market for awhile.
Percentage of Homes Under Contract:
As of the end of April roughly 24% of residential homes that were on the market were under contract. this is a healthy number but it does not quite match the 30% at this time last year.
Overall, I think we are in a stable market with a healthy amount of inventory and activity.