September was a pretty good month for sales in Boulder County. The chart above shows the combined sales of all homes and condos by month since January 2004. Year-to-date sales are off 23% from last year, that is is bad news. The good news is that closings in September were down just 7%, the best showing of month over month sales so far this year.
when looking at the chart in general keep in mind that when looking at the years 2004 through mid 2007 you can discount the sales for comparative purposes because of the easy credit conditions of that time. Effectively, 25% of all sales were going to buyers that should not have been able to qualify for a loan. It is tough to compete with that now that our current norm is that 5 different underwriters scrutinize each file. Yes, we are down 23% from last year and that makes sense, but down 60% from 2006, that is just funny math.