I just checked. 25% of the houses on the market in Boulder County are under contract. Buyers are out there trolling for good homes and many are just not finding quite what they are looking for. There seems to be a shortage which is kind of strange in a market that has been kind of slow for a few years. So, I asked myself what is happening. The answer is very simple, not enough listings are coming on the market and more listings are being snapped up by buyers. Therefore there is a shortage.
The following two graphs give a clear view of the situation. The green line is this year. The red line is 2010 and the blue line is last year. The first graph shows new listings over the last three years. This is the most active year for sales so far but we have the fewest new listings. The second graph shows the number of homes that have gone under contract on a weekly basis and shows that the activity is much more robust than a year ago and similar to 2010 during the last few months of the tax credit.