I just finished my annual analysis of the real estate market in Boulder County. In addition to the overall sales trends, I look at the real estate market in Boulder, Louisville, Lafayette, Longmont, Erie, Superior, Suburban Plains and Suburban Mountains. The annotated slide show gives all of the detail for each of these areas.
Here are a few of the important points:
- Total Sales across all categories in Boulder County fell by 2.6%.
- Median Price across all categories in Boulder County fell 1.5%.
- Sales in the City of Boulder were up slightly from last year.
- Sales in Louisville were up 16% from last year.
- Sales in Erie were up 23% over last year!
- Longmont bounced back with 9% more sales in 2011 than in 2010.
- FOR MUCH OF BOULDER COUNTY 2011 WAS A RECOVERY YEAR.
What does 2012 have in store? Here are a few of my ideas:
- One of the challenges right now is to build the inventory of active listings. Buyers are wishing there was more to choose from.
- Factors that point toward an improving market:
- The local economy is improving.
- Interest rates will continue to be favorable.
- Lending guidelines are expected to loosen in the coming year.
- Nationally, foreclosures need to move through the market in order to see overall improvement. Locally, foreclosures have not been a huge issue. This will help us to recover even more quickly.