by neil kearney | Jan 14, 2008 | Statistics
Boulder Real Estate – Year in Review
Million Dollar Market Keeps Growing
The value of our housing stock keeps increasing. Every year I am amazed by the beautiful homes on the market. Luckily we have an affluent population which is growing. During 2007 there were 214 sales that were for $1 Million or more in Boulder County. This is an increase of 29 units over last year or a 16% increase. As you can see by the graph below this is a continuation of a trend that began in earnest in 2003. Where will it stop? I don’t think it will. The Boulder area is attracting people who appreciate the lifestyle and want a house to match. The only question is how many homes can the market support at once. 
by neil kearney | Jan 11, 2008 | Statistics
Boulder Real Estate Year in Review
Number Listed vs. Number Sold
In the current real estate market a seller needs to be realistic about price and have their home in top showing condition. If they don’t have both of these essentials in place their house will not sell. It’s not a matter of how long, it is whether it will ever happen. In many parts of the country the inventory of homes on the market has soared to record levels. Locally our inventory is down from six months ago and we continue to eat into our inventory.
One statistic that I have been looking at for the past few years compares the total number of homes (or condos) listed and the total number sold during that same time frame. It goes along with inventory and helps to understand where we are headed in terms of supply and demand. The larger the difference between the number listed and the number sold, the more inventory piles up.
The City of Boulder over the past year has done well. During 2007, 1009 single family homes were listed and 934 were sold. Taken alone this would indicate that we have very little inventory left. In actuality the first half of the year was spent working down the large differential held over from 2006. During 2006, 1663 homes were listed and 990 sold. Currently we have 303 homes on the market in Boulder, this indicates a 3.86 month supply, a great number. Much lower and we wouldn’t have that much to show.
For condos and townhomes in Boulder the story is much the same. During 2006 the differential between the number listed and the number sold was 639 units. During 2007 it was just 145 units. The charts below show the trend.
Basic supply and demand tells me that we are on the upswing and NOW is a great time to buy! With low interest rates, good rental activity and prices which have been unnaturally stagnant for too long. Now is the time to buy that larger home or investment property. I’d love to help you take advantage of the current opportunity.
by neil kearney | Jan 9, 2008 | Statistics, Uncategorized
Boulder Real Estate Year In Review
Median Prices of Attached Dwellings
The word that characterizes the prices of attached dwellings in Boulder County during 2007 is flat. Overall the median prices of condos and townhomes county wide for the year was exactly the same as the previous year.
This is an interesting fact since there were many expensive condos coming online during the year and these sales did not move the median prices up. I know that many condo developments saw price drops during the year and many older complexes are 10% below their peak a few years ago. Attached dwellings actually did well in the number of sales for the year (just about equalling last year) and the inventories have been dropping. I think these along with a stronger rental market are good indicators for an upswing in values over the next 12 – 15 months. Here are the 1 year changes in the median prices in select areas.
City of Boulder – No change
City of Louisville – +14% (New, expensive loft development added to a small market)
City of Lafayette -2.6%
City of Longmont – +1%
Entire Boulder County – No Change
by neil kearney | Jan 7, 2008 | Statistics, Uncategorized
Boulder Real Estate Year in Review
Median Prices of Single Family Homes
This is the first in a series of posts highlighting the real estate statistics of 2007 for communities in Boulder County. I’d rather spend a little time highlighting each statistic rather than give you a huge data dump and be done with it. I hope you continue to come back to check out the new posts.
Today I’m going to present a chart that shows the median sales price of single family homes in various communities throughout Boulder County.
As a whole, the County held its own this year. Positive 2.76% is not too shabby when you hear about the 20% losses in other areas of the country. Here is how the specific towns did during the year.
Boulder +1%
Louisville +7.25%
Lafayette -3.6%
Longmont -1%
Louisville does not have enough volume to skew the overall numbers up to 2.76% alone, so it must be the unincorporated areas of Boulder County that are also doing well.
You can tell by looking at the chart below that the City of Boulder has seen the best gains over the past ten years, while the values in Longmont have lagged. 
by neil kearney | Dec 13, 2007 | Statistics |
November Sales Statistics
The number of sales in November was down approximately 14% from 2006. This continues the trend we have been seeing for the last 18 months. For the year Boulder County has seen approximately 10% fewer sales.
The median price continues to creep upwards. During November the median price of single family sales was $350,640. This represents a 4.7% increase from last November. 
by neil kearney | Dec 10, 2007 | Statistics
The 10 Hottest and Weakest Markets in America
The OFHEO quarterly report gives housing appreciation information and ranks the 287 largest metropolitan statisical areas. They rank them according to appreciation during the most recent four quarters and also provide quarterly and 5 year numbers. Boulder ranked 126th in the most recent report with 3.06% appreciation during the past year.
Here are the top 10 markets over the past 12 months.
Wenatchee, WA 15.7%
Provo – Orem, UT 14.35%
Grand Junction, CO 14.05%
Ogden- Clearfield, UT 13.95%
Salt Lake City, UT 13.37%
Idaho Falls, ID 11.69%
Austin – Round Rock, TX 9.67%
Beaumont – Port Arthur, TX 9.44%
Asheville, TX 9.44%
Billings, MT 9.07%
Here are the bottom 10 markets over the past 12 months.
Merced, CA -13%
Punta Gorda, FL -11.79%
Santa Barbara, CA -11.63%
Yuba City, CA -11.13%
Stockton, CA -10.03%
Fort Myers, FL -9.67%
Sarasota, FL -9.63%
Modesto FL -8.95%
Palm Bay, FL -8.93%
Sacramento, CA -8.41%
