|# New||Price Drops||# U/C||# Sold||Median $ of Sold|
You know when you are driving down the highway at full speed but your gas light has been on for awhile and you begin to regret passing the last gas station? You are still moving along with no outside indications of slowing down but you have a growing feeling that something needs to come up to keep you rolling along, and fast. So it is with the local real estate market, at least from my seat. Markets are all about momentum and I have the vague feeling that we have lost some of the momentum we have been enjoying over the past two months. It may be just a passing feeling, a bit of a 4th of July weekend slowdown, but I’m not so sure.
The chart above shows weekly market activity for the month in Boulder County since the end of April. This past week we saw the fewest number of properties go under contract in the past 11 weeks. Showings are also lagging. My advice to sellers is to take advantage of the market now by pricing your homes to sell, before you know it, the summer selling season will be over.