by neil kearney | Jul 7, 2009 | Boulder County Housing Trends, Statistics
June sales were up 25% from May but down roughly 15% from a year ago. This might not seem to be good news but June was actually a strong month for the Boulder County real estate market. Through May, sales were down 34% and in June the YTD number was cut by 6%. Not a 180 degree turn around but small steps are good too. 
The median price for sales in June were also very strong. The median price for single family properties sold during the month was $379,000, up from $318,000 in June. This doesn’t mean that prices jumped, it simply means that more, higher priced homes sold.
The following tables show comparative YTD sales data from both single family and condos sold 1st and 2nd quarters in Boulder County. Look at the relative strength in the Superior Market.
|
First Half of 2009 |
|
2008 |
2009 |
Change |
| ? $250,000 |
810 |
630 |
-22% |
| $250,001 – $400,000 |
673 |
494 |
-27% |
| $400,001 – $800,000 |
598 |
368 |
-38% |
| $800,001 – $1,200,000 |
82 |
55 |
-33% |
| ? $1,200,000 |
61 |
38 |
-38% |
| Combined |
2224 |
1585 |
-29% |
|
|
|
|
|
|
|
|
|
|
|
|
|
First Half of 2009 |
|
2008 |
2009 |
Change |
| Boulder |
786 |
529 |
-33% |
| Louisville |
142 |
118 |
-17% |
| Lafayette |
198 |
129 |
-35% |
| Longmont |
646 |
477 |
-26% |
| Suburban Mountains |
119 |
83 |
-30% |
| Suburban Plains |
293 |
200 |
-32% |
| Superior |
74 |
72 |
-3% |
by neil kearney | Jul 2, 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 |
This past week included the end of the month and closings always peak at the end of the month. So it was good to see a record number of closings since I started this report back in April. The number of homes that went under contract continued to hold strong, which is great news. Fewer homes hit the market this past week than any week since April. This coming week should be a little slow due to the 4th of July weekend.
by neil kearney | Jun 25, 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 |
We had another strong week in the market. In addition to the consistent number of homes going under contract, what I notice most about the week just past is the high number of price reductions. Sellers who have not received any interest are actively pursuing buyers and the best way to do that is to reduce the price. The number of showings dropped off this week in our office. This may be a sign that the market is cooling down a bit.
by neil kearney | Jun 18, 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 |
During the past week more homes were listed than any other week since April. New contracts on homes were down a bit, but still remain strong. The number of closings is still strong for a mid-month week and those that did sell had a higher median price than anytime since the end of April.
Most years, we see the big surge in contracts in May with the highest month of closings being June. This year we saw a late start in activity and it looks like the closings will continue to be strong into July. Let’s hope it extends beyond and into August and September.
by neil kearney | Jun 17, 2009 | Boulder County Housing Trends, Statistics
One of the most intriguing markets right now in the Boulder real estate market is the for those homes priced more than 1 million. Boulder County boasts some incredible properties with views, land and an beautiful home to boot. In 1997, six properties sold over the $1 million, today we have 476 properties listed above that magic number. The world has changed in 12 years and a million does not buy you nearly as much as it once did. However, during a recession it is difficult to get buyers to buy anything much less a luxury home.
So here is what is happening right now in the luxury market in Boulder County. So far this year 52 homes have sold for a price greater than $1,000,000. As I mentioned before there are currently 476 homes on the market and 22 of those are under contract. During 2008 154 homes and condos sold in that price range.
I see picky buyers looking for a great deal. I see most sellers as being resilient and willing to wait it out rather than lower their price drastically. I see negotiations as a percentage averaging double that of the market as a whole. I also see people still moving to Boulder with money which is a great sign for the future. It may just take a bit of time to reduce the inventory.
I think many of the new homes in this price range were conceived during 2006 and 2007, record years for the local luxury market. The chart below shows the total number of closings by year for residential homes in Boulder County.
by neil kearney | Jun 16, 2009 | Boulder County Housing Trends, Statistics, Uncategorized
According the the Federal Housing Finance Agency (FHFA), Boulder County ranked 23rd out of 294 metropolitan statistical areas in 1 year appreciation for the time period ending March 31, 2009. The yearly appreciation for our area was reported as 1.99%. As a nation the appreciation was -7.14%. As a state, Colorado ranked 13th with -1.7%.
The top states in the rankings were Alaska (4.79%), Oklahoma (.3%), North Dakota (.3%) and South Dakota (.29%). In fact these four were the only states to record a positive return for the year. The hardest hit states during the past year were; Nevada (-31%), Florida (-22.46%), California (-22.12%) and Arizona (-19.51%).
The first chart above shows how Boulder has compared to the nation in yearly appreciation each quarter since june of 2006. This shows how steady our market has been compared to the rest of the country. The second graph shows show we compare to the rest of the metropolitan areas. Even though our appreciation has been steady our ranking has jumped because of the declines seen across a majority of the country.
