Yesterday, I shared with you how different price ranges are currently selling in the Boulder County home market.  Today we are going to look at the same indicators but today, we will use the data to find out which town has the strongest real estate market.

Under Contract Percentage:

This is simply the number of homes currently under contract divided by the number of homes on the market.  The higher the number the stronger the market. The areas that have the highest percentage of homes under contract (Louisville and Superior) also happen to have the fewest homes on the market.  Few homes on the market, steady demand = strong market.

  • Boulder           14%
  • Louisville       24%
  • Lafayette        22%
  • Longmont      20%
  • Superior          25%
  • Mountains      14%
  • Plains                13%

Absorption Rate:

Absorption rate compares the number of homes that sell during an average month (I use 12 months) to the number of homes currently on the market.  For example if on average 10 homes sell per month and there are 120 homes on the market, the absorption rate would be 12 months.  Another way of saying it would be, that it would take 1 year to sell all of the current inventory.  A low number shows quick turnover and a strong market.  During the late fall and winter when many would-be sellers remove their homes from the market the absorption rates are unusually low.   Again, Superior and Louisville show the healthiest market and the mountains show the weakest market.

  • Boulder           6.9 months
  • Louisville       4.3 months
  • Lafayette        5.9 months
  • Longmont      6.1 months
  • Superior          4.2 months
  • Mountains      12.4 months
  • Plains               9.2 months

Average Negotiation Off Of List Price:

The areas that showed the strongest indicators in the statistics above also had the smallest average negotiation off of the list price.

  • Boulder           4.74%
  • Louisville       2.63%
  • Lafayette        2.65%
  • Longmont      2.95%
  • Superior          2.84%
  • Mountains      6.28%
  • Plains                4.78%

Overall Ranking of Strength of Market:

When you average out these results and rank for total strength, here are the strongest real estate markets in Boulder County right now.

1.  Louisville and Superior (tie)

2.  Lafayette

3.  Longmont

4.  Boulder

5.  Suburban Mountains and Suburban Plains (tie)

Of course more goes into it than just these three statistics.  So when you are ready to buy or sell real estate in Boulder County call a professional real estate agent like me.  Neil Kearney 303.818.4055

 

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