The calendar has turned once again and the March sales statistics are now available for Boulder Colorado and the surrounding area. The numbers for the month are not impressive but I will try to bring a bit a insight to the situation.
- Sales of single family homes were down 42% for the month and down 35% YTD.
- Inventory is down substantially as well. Down to levels we have not seen since the early 2000’s.
- Median prices on a month-to-month comparison are down a bit as well. This decrease is due to the nature of the sales we are having. The lower end of the market (below $250,000 in Longmont, below $500,000 in Boulder, and below $400,000 in Louisville, Lafayette and Superior) is where the activity is happening. There are very few sales above $1 million.
The market is slower than normal for this time of year but as I mentioned above there are segments in the market where there is ample activity. If you have a high priced home the reality is that the market price is most likely below where you thought you could sell it a few years back. Homes that are offering true value are the only one’s that are selling in the higher price ranges.
Here are some graphs that show the long term trends.
If you are curious where your home falls in today’s market please give me a call or send me an email.