Interesting Sales Trends
Comparing year-to-date figures with year end figures leaves much to conjecture. Figures show that through the first three quarters the market for single family homes in Boulder County is off roughly 13% in total sales. I was curious if this was still true after a few slower than normal months and also to see which areas are doing better than others in terms of sales and price stability. So in order to answer these questions I compared sales of all residential and land real estate from January 1st through November 16th for each of the last 8 years over 7 market areas. Here is what I found!
- Sales are down in all market areas, but most profound in the City of Boulder.
- Sales peaked in 2005 in most areas.
- Median prices are holding stable! See the chart below and you will notice just a slight decline in prices in Longmont, Lafayette and Boulder County as a whole but overall we are looking unusually resilient.
- YTD sales are down 17% in Boulder, just 5% in Longmont, and 27% in the mountain areas. This shows that Longmont is recovering off of a terrible year last year and the market is now absorbing the inventory.