After reviewing the latest real estate statistics for Boulder County it’s clear that the market has shifted. But it’s also clear that the slowdown hasn’t been as dramatic as it could be. Sales are down 23% for the year and have been down nearly 40% on a month over month basis over the past two months but inventory isn’t increasing as much as one would think. Interest rates are not only discouraging potential buyers as they call off home searches, they are dissuading sellers from selling as well. Sellers are reluctant to sell because a majority of them would be trading in their current, very low interest rate for a higher rate if they were to sell and then buy a new home. As a result of the relatively low inventory sales have dropped but prices have been resilient so far.
The number of sales in Boulder County is down 23% for the year. Since June sales have been at levels that are the lowest in five years.
Since June sales have decreased by 30% and the time it takes to get an offer have doubled but inventory is holding a normal seasonal pattern.
