October 2009 Boulder County Real Estate Statistics

http://viewer.docstoc.com/
Boulder County October 2009 Real Estate Statistics

The numbers for October are in and they are positive.  The number of sales thoughout Boulder County increased when compared to the same month last year for the first time since August of 2007.  I see a few causes for this: first remember last October sales were affected by the early stages of the global economic meltdown, second, the first time homebuyer tax credit is definitely helping sales locally, and third, the overall economic and credit environments are much improved.

Sales are still down over 20% for the year but if you look at the first two graphs that show sales by month, you will see that the shape of the sales curve has changed this year.  We are having more consistent sales and there has not been such a drastic drop off from the summer highs.  I’d love see this continue and the continuation of the homebuyer tax credit will definitely help if that gets passed.

Other stats you will find in the above presentation (click on full screen to get the best viewing) are under contract % and inventory.  Overall the under contract % is still above the 15% level which usually means a healthy market.  Inventory continues to stay in check.

There is no substitute for an individual analysis.  So if you are considering selling or buying in the near future give me a call and I can run numbers for your specific area and price range.

Boulder County Weekly Activity Index

The table below details the real estate market activity in Boulder Colorado.  I created this weekly activity index at the end of April and have been tracking and commenting on this and other market data on this blog since that time.  Basically what we have been seeing in the market is pretty steady activity.  We are down from the past few years but we are holding up okay.  Sales of all residential property in Boulder County is down roughly 23% through the end of September.

What is interesting about this index is that you can easily compare the number of homes that go under contract to those that actually close.  I’ve found through my research that 24% of homes that go under contract don’t make it to the closing table.  Another interesting statistic is the median price of the homes which have closed.  The median price of sales has consistently been under $300,000.  The average price of sales is also down so far this year.  There are two reasons causing the lower sales prices; low interest rates for loans less than $417,000 and the first time homebuyer credit.

Weekly Activity Index for Boulder Colorado Real Estate

Activity in the market has been moderate.  The number of listings that are going under contract in Boulder County continue near the 100 unit mark.  There have been fewer sales lately, but that is to be expected given the time of year.  We are approximately one month away from the expiration of the First Time Homebuyer Tax Credit so it will be interesting what that does to the market going forward.

Boulder County – Million Dollar Sales

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.

 

September 2009 – Boulder County Real Estate Sales Statistics

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.

 

http://viewer.docstoc.com/
Boulder County Real Estate Market Trends September 2009

Boulder County Real Estate Sales – September 2009

 

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.