One year ago this week I thought it would be cool to get a sense for the market activity on a weekly basis. Every Thursday morning for a year I have done a specific search which identifies the specific activity in the real estate market in Boulder County. During the past year there have been 8,304 new listings, 7,808 price reductions, 5,642 homes go under contract and 4,181 homes get to the closing table. The graph below shows two of those categories on a weekly basis; the number that went under contract and the number that sold.
When a house goes under contract it becomes a leading indicator of a future closing. But from the data over the past year it appears that a quarter of all homes that go under contract do no make it to the closing table.
The trend this year has been pretty clean since the first of January. Our trend for increased sales is still on an upward trajectory. It will be interesting to see what the next few weeks have in store since the tax credit stimulus expires tomorrow.
