by neil kearney | Jul 22, 2009 | Statistics
I just prepared a table which shows the 2nd quarter sales broken down into price ranges and compared with 2nd quarter 2008. Overall, the number of sales was down 26% across all price ranges and property types. The yellow box shows all sales. The green box shows only sales of single family homes which were down 27%. The blue box shows attached dwellings whose sales were down 22%.
| Combined |
|
|
|
|
2008 |
2009 |
Change |
| <$499K |
1070 |
842 |
-21% |
| $500 – $749K |
198 |
112 |
-43% |
| $750K – $999k |
64 |
34 |
-47% |
| $1MM – $1.249MM |
12 |
11 |
-8% |
| $1.25MM – $1.5MM |
12 |
6 |
-50% |
| >$1.5MM |
19 |
17 |
-11% |
| Total |
1375 |
1022 |
-26% |
|
|
|
|
|
|
|
|
| Single Family |
|
|
|
|
2008 |
2009 |
Change |
| <$499K |
679 |
540 |
-20% |
| $500 – $749K |
183 |
97 |
-47% |
| $750k – $999K |
58 |
33 |
-43% |
| $1MM – $1249MM |
10 |
10 |
0% |
| $1.25MM- $1.449MM |
12 |
4 |
-67% |
| $>1.5MM |
18 |
16 |
-11% |
| Total |
960 |
700 |
-27% |
|
|
|
|
| Condos |
|
|
|
|
2008 |
2009 |
Change |
| <$499K |
391 |
302 |
-23% |
| $500 – $749K |
15 |
15 |
0% |
| $750K – $999k |
6 |
1 |
-83% |
| $1MM – $1.249MM |
2 |
1 |
-50% |
| $1.25MM – $1.499MM |
0 |
2 |
200% |
| >$1.5MM |
1 |
1 |
0% |
| Total |
415 |
322 |
-22% |
by neil kearney | Jul 21, 2009 | Boulder County Housing Trends, Statistics
One good measure to gauge the strength of the real estate market is to see how many of the offered houses are under contract. Not only does this give a number which is comparable across time it also gives a good indication about what sales will be in the near future. A leading indicator of sorts.
The Mason-Dixon line of real estate is 15% of the current market under contract. That is of each 100 houses currently on the market 15 of those have a buyer. Below 15% and the market is considered slow and above that number the situation gets progressively better.
Right now, if you look at all areas and price ranges, Boulder County has an under contract ratio of 13%, a slow market by the standards we just discussed. But let’s look at this a bit more closely. I have been telling you for months that the real estate market in Boulder County is drawn differently across different price ranges. The lower price ranges doing better and the higher price ranges doing worse. Under $1 million, 23% of all homes offered for sale are under contract. This is a strong market. The charts below break this ratio into different areas (both single family and attached dwellings) and price ranges.
by neil kearney | Jul 16, 2009 | Boulder County Housing Trends, Statistics
|
# New |
Price Drops |
# U/C |
# Sold |
Median $ of Sold |
| 30-Apr |
166 |
142 |
125 |
81 |
$ 317,900 |
| 7-May |
182 |
170 |
141 |
90 |
$ 294,700 |
| 14-May |
211 |
170 |
126 |
46 |
$ 301,950 |
| 21-May |
220 |
169 |
140 |
92 |
$ 275,950 |
| 28-May |
167 |
165 |
137 |
66 |
$ 272,450 |
| 4-Jun |
213 |
204 |
131 |
141 |
$ 324,500 |
| 11-Jun |
210 |
198 |
155 |
74 |
$ 296,400 |
| 18-Jun |
222 |
191 |
125 |
94 |
$ 339,950 |
| 25-Jun |
178 |
223 |
131 |
100 |
$ 339,900 |
| 2-Jul |
163 |
158 |
132 |
150 |
$ 299,000 |
| 9-Jul |
157 |
181 |
102 |
81 |
$ 332,900 |
| 16-Jul |
187 |
197 |
121 |
93 |
$ 289,900 |
The activity over this past week is encouraging. Increases in closings, and properties that went under contract is a good sign. Many years we reach the end of June and the market activity dries up quickly. The week over week increases are not huge but it is important to keep going strong for another month or two.
by neil kearney | Jul 14, 2009 | Uncategorized
I was interviewed yesterday for a story on the Boulder area real estate market that appeared in the Boulder Daily Camera this morning. The photo that accompanies the story shows me from the back (some would say this is best) pointing out a feature to my client. To view 
the article click here. For more detailed market information contact me directly.
by neil kearney | Jul 14, 2009 | Uncategorized
We have seen some good buyer activity lately but I’m noticing a trend regarding buyer offers. In the past the process was:
- View a handful of houses
- Pick out one you love
- Buy it by making a reasonable offer.
Today the process has changed a bit. Home buying circa 2009 usually goes something like this:
- View a bunch of homes
- Pick out one you love (and a backup or two just in case the sellers are looking to get market value)
- Insult the sellers by making a low-ball offer.
- Negotiate until the seller is hobbled or if seller won’t succumb to the pressure move on to house number two and go back to step 3.
What is getting lost in the mix is that the goal is to find a place to live. A place to connect to. A place to make memories with family and friends. The home buying experience is so much richer when you end up with the house you want. Not just the house where you felt like you got a “below market” price.
I wonder about our number of offers written compared to the number of offers accepted. I bet it is at an all-time low. Enjoy the pretty picture below and take a deep breath…
