Sales in Boulder County continued the post tax credit trend. We have been recording between 250 and 290 sales each month in Boulder County and this month we posted 249 closed transactions. This represents a 20% drop from October 2009 and an eight unit drop from last month. Usually the seasonality in our market resembles a bell curve but this year it resembles a sharks fin.
It seems that activity is still fairly strong. There are buyers out there looking. We are at about the same level of contract activity now as we were at the end of August. This bodes well for closings staying steady until the end of the year.
Interest rates continue to be very low and some buyers are finding motivated sellers. Although a buyer can expect a fair deal, not every seller is ready to give away the farm.
Inventory usually starts falling this time of year as sellers get tired of having their houses on the market and take their homes off for the holidays.
Home appreciation is hard to track on a monthly basis but if you are looking at median price we are looking strong. The jumps in median price correspond directly to the tax credit expiration so I suspect that we are just selling fewer lower priced homes which makes it look like prices have jumped. In reality prices are holding steady.