The numbers for October are in and they are positive. The number of sales thoughout Boulder County increased when compared to the same month last year for the first time since August of 2007. I see a few causes for this: first remember last October sales were affected by the early stages of the global economic meltdown, second, the first time homebuyer tax credit is definitely helping sales locally, and third, the overall economic and credit environments are much improved.
Sales are still down over 20% for the year but if you look at the first two graphs that show sales by month, you will see that the shape of the sales curve has changed this year. We are having more consistent sales and there has not been such a drastic drop off from the summer highs. I’d love see this continue and the continuation of the homebuyer tax credit will definitely help if that gets passed.
Other stats you will find in the above presentation (click on full screen to get the best viewing) are under contract % and inventory. Overall the under contract % is still above the 15% level which usually means a healthy market. Inventory continues to stay in check.
There is no substitute for an individual analysis. So if you are considering selling or buying in the near future give me a call and I can run numbers for your specific area and price range.