During September the market continued to lag. Sales were down 20% from the same month last year and after making such strong gains earlier in the spring sales in Boulder County are up just 1.7% year-to-date. Despite the slow sales lately inventory is falling. It seems that sellers are taking their homes off the market after realizing what it takes to sell in a tough market. Just so you know, what it takes is a very low price and a house in good condition.
Median prices show that they have gained ground lately but I suspect this has more to do with the sales mix rather than actual home appreciation in the Boulder area. Once the the incentive for first time home buyers expired that segment of the market dropped and of the remaining sales higher priced homes had a larger piece of the pie. It feels to me that there is some negative price pressure on the market right now as sellers push to sell homes to buyers who seem unmotivated. Take a look at the slideshow (fullscreen is best) to get a graphical display of the market and more insights.
