Home sales are down 23% through the first three quarters of 2009 in Boulder County. The number of sales of homes for over $1 million has fallen 29% for the same time frame. More dramatically sales of homes in the higher range are down 53% from 2 years ago. There are some great deals out there and now is a great time to pick up a premier property in Boulder Colorado. Please contact me if you would like more information about luxury homes.
The slideshow below consists of 10 annotated slides showing the current real estate market conditions in Boulder County. The charts include: total sales, median price, inventory, under contract %, absorption rate by type and price range and sales by price range. Please let me know if you have any questions about Boulder CO real estate. For best viewing hit full screen.
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Boulder County Real Estate Market Trends September 2009 –
The real estate manager for ConocoPhillips appeared at a Louisville City Council meeting this week and shed more light on their highly anticipated corporate campus to-be. The meeting was the first in a series of what will prove to be quite a few public meetings and hearings surrounding the re-development of the 432-acre site in south Louisville bordering Highway 36. The major story lines of this meeting were the scope and overall vision of the land.
The project is to be constructed in phases and could take 25 or 30 years to be fully developed. At full capacity the site could employ 7,000 employees and is expected to house the global headquarters for research and development and be a global training center focussing on renewable energy.
The concept for the site is focus on design principles that will be consistent with the renewable energy theme. The company plans to work closely with the National Renewable Energy Lab and others to build a campus with a small footprint. The initial plan is to build on a relatively small portion of the land and surround the buildings with open space. HOK Architects are designing the plan and a spokesman said that they plan to build an astonishing, walkable campus on about half the acreage. Construction is slated to begin in 2011 with operations beginning in 2013.
The arrival of ConocoPhillips to our area will be not only a boon to the economy, directly and indirectly, but will spawn other companies and startups just as IBM’s arrival to the area in the 1970’s established Boulder County as a tech center. This should be exciting to watch and is another reason why investing in area real estate is a great idea. The map below shows and aerial view of the site.
September was a pretty good month for sales in Boulder County. The chart above shows the combined sales of all homes and condos by month since January 2004. Year-to-date sales are off 23% from last year, that is is bad news. The good news is that closings in September were down just 7%, the best showing of month over month sales so far this year.
when looking at the chart in general keep in mind that when looking at the years 2004 through mid 2007 you can discount the sales for comparative purposes because of the easy credit conditions of that time. Effectively, 25% of all sales were going to buyers that should not have been able to qualify for a loan. It is tough to compete with that now that our current norm is that 5 different underwriters scrutinize each file. Yes, we are down 23% from last year and that makes sense, but down 60% from 2006, that is just funny math.
Broker/Owner
Kearney Realty Co.
303.818.4055