The market is very strong right now. We are in the midst of the spring buying season, interest rates are low and we are coming off a prolonged slow period. In the last few days we have placed a few very popular listings on the market. On Monday Jo Kearney (don’t forget Mother’s Day), listed 375 Erie Drive. It is a home in Frasier Meadows in Boulder that has great bones but needed a cosmetic remodel. It was listed for $550,000 and obviously it was viewed as a good opportunity. By Tuesday evening there were six offers on the table! The home went for well above asking price. Yesterday, I listed 984 Dahlia Street in Louisville for $409,000. After 9 showings on the first day we had two offers on the table. It too went for above list price. This feels like old times.
But not every seller is so lucky. The market rally is broad but it is not market wide. Below are a few graphs that will help show where the activity is in the Boulder area real estate market.
The chart below shows weekly data of homes that have gone under contract over the past 3 years.
The chart above shows strong activity in all areas but the Suburban Mountains.
The chart above shows clearly that as the price range rises the activity in the market falls.