Real Estate on The Front Range

Real Estate Sales Dip Sharply In July

Boulder County Real Estate Statistics - July 2010 -

The numbers are in for July and they aren't pretty.  Many wondered if the First Time Homebuyer Tax Credit had an impact on the market and I can now say emphatically, yes!  Real Estate sales in July dropped 40% compared to July in 2009 for all residential properties and 26% for single family homes.  Quite a drop for mid-summer.  As you might recall the original deadline to close on tax credit eligible transactions was June 30th.  This deadline led to a pretty serious hangover in July.

How do we look going forward?  Good question.  From what I can see, we have stabilized for the moment and have drawn a new baseline of activity (not great but acceptable).  This will change when one of the following happens: interest rates change (once the signal is given that 4-5% interest rates are on the way out buyers will hurry to take advantage) and true, widespread economic recovery.  In my view the economy has been sideways for a long time.  Not a lot of hiring, spending or investing going on and not much will change in the Boulder area real estate market until we see real improvement in the economy.

For historical Boulder Real Estate Statistics check out my statistics tab.

Boulder Real Estate Statistics June 2010

• Sales for June reflected the residual sales from the tax credit.   
• All residential sales are up 23% year-to-date.  June sales were up just .5% compared to June 2009.
• The momentum has shifted and sales will slow going forward.
• Interest rates and move-up buyers continue to fuel growth.

The numbers are in for real estate sales in Boulder County.  Sales during May showed continued strength and were a result of the good sales activity in March and April.  Sales of all residential property in Boulder County are up 32% year-to-date and May sales were up 27.6% compared to May 2009. Sales of single family homes are up 34% year-to-date and 32% from last March.  The sales activity was mostly due to carryovers from past months.  New activity fell with the expiration of the tax credit. Interest rates and move-up buyers continue to fuel growth. 

Lately the activity has waned a bit but it seems that the baseline of the market has increased even without the tax credit.  Interest rates are still outstanding and being early summer there are great new properties coming on the market often. 

The tax credit is in the books and the spring selling season is in full swing.  Watch the video below to get the year-to-date update for the Boulder County real estate market. 

April 2010 Boulder County Real Estate Update from neil kearney on Vimeo.

March 2010 Statistics

Real estate sales in Boulder County increased dramatically during March. Scroll through the slideshow to get the details.