I am starting to see more signs of activity in the market. More homes have gone under contract and the number of showings continue to climb. As I study the daily market updates I get at my desk, I notice that most of the activity is in the lower price ranges.
Just this weekend 17 homes went under contract in Boulder County. Fifteen of these homes are priced $335,000 or under. Of the two higher priced sales one is listed for $499,000 and the other is listed for $3,379,000. The later is a rarity. Currently there are 74 homes listed in Boulder County for $2.5 million or higher. Of those 5 are under contract. I have been showing a few of these homes and there are some beautiful homes out there.
I have established that the lower end of the price spectrum is getting most of the activity; but what of prices? I just ran a quick analysis that shows that prices are holding pretty well. I compared the median and average price of homes that are currently under contract to those of homes that have sold over the past twelve months. In order to compare apples-to-apples I adjusted the under contract price by the average negotiation rate for that area over the past year. Here is what I came up with for price change.
- Boulder – Avg. Price – up 3.3% Median Price – up .24%
- Louisville – Avg. Price – up 5.3% Median Price – up .37%
- Lafayette – Avg. Price – down 1.94% Median Price -down 13.9%
- Longmont – Avg. Price – down 5.02% Median Price – up .56%
- Superior – Avg. Price – down .97% Median Price – up 5.9%
- Plains – Avg. Price – up 25.67% Median Price – up 11.88%
- Mountains Avg. Price – down 2.3% Median Price – up 15.11%
These numbers are based on what has actually been selling. In order to get an offer homes must be in good condition and priced about right. Those that are in poor condition or are overpriced do not have much of a shot in today’s market conditions. Call me for an honest assessment of your homes current value. Neil 303-818-4055