The sales statistics for the Boulder Colorado area continue to be strong but closings are only part of the story. Real estate transactions have a lag time and this months closings are a result of past months activity. We are just a day away from the original closing deadline for the tax credit so the stimulus effect officially ends this week.
It looks as though we were helped immensely by the tax credit but as it expired our market slowed down again. Showings seem to be down quite a bit but what is dramatic and telling is the under contract percentage. Here is breakdown of under contract % by area:
The activity has dropped in every local locality since early May. Most dramatic are 12% drops in Louisville, Lafayette and Longmont. Boulder dropped 11%. Not a very good indicator for the coming months.
The table above shows the under contract percentage in Boulder County by price range. Not suprisingly, the largest decrease was in lowest price range where the tax credit had the most effect.
Here is the data with a few more dates in a visual format.