After The Spring Snow
I made this quick video of what I hope are the last traces of winter.
Boulder County Market Update – By Area and Price Range
The market goes through normal cycles, busy in the spring/summer and slower in the winter. Every once in awhile I like to break it down and look at it more closely. Below you will find graphs comparing under contract percentages and absorption rate over time. One set compares these measures across the different areas in Boulder County. These include: Boulder, Louisville, Lafayette, Longmont, Superior, Suburban Mountains and Suburban Plains. I have also compared these statistics across different price ranges.
Loft in The Peloton $304,900
For more details on this listing and all the photos go to www.Peloton312.com
When you are thinking hip and modern real estate in Boulder you have to think about The Peloton. This is a true loft style condominium is the ultra cool Peloton. This 1052 square foot condo is wide open as any loft should be. It has a modern feel, plenty of light and good separation of space.
The Peloton has the best community area in town. It is a three story building which includes a full gym, meeting/casual area, a movie theater and a roof top pool and hot tub with a great view of the mountains. It is truly and lifestyle and everything is first class!
Boulder Real Estate Statistics February 2012
February was a good month in the Boulder real estate market.
- Sales were up 16% for the month (single family + condos)
- The under contract percentage is near market highs. As more listings hit the market that % will come down.
- The inventory is still very low as compared to the activity.
- The market has a good strong feel to it. People are starting to think more about real estate and planning for the future.
- This might be “the” time before interest rates and prices start climbing.
“Scotty we’ve got a serious shortage of listings”
The Boulder County real estate market is humming along. But it seems we are running a bit lean in one cylinder. It takes both buyers and sellers to make a market and right now buyers are out in force but sellers are still in winter hibernation mode.
If you are thinking about selling your home in 2012 there may be no better time than right NOW. Currently in the City of Boulder 29% of all listings are under contract. In Louisville and Lafayette nearly 40% of listed homes have already found a buyer. These are really high numbers and not surprisingly there are multiple offers happening. Buyers are problably wondering what the heck is happening.
Homer: “Marge I thought this was a buyers market. Do you still think we can buy this house for a 40% discount?”
Marge: “I don’t know Homie, we have missed out on three homes already.”
Lisa: “Mom and Dad, wake up and get with the program or we will never buy a house.”
This situation doesn’t mean that the market is back. We still have some recovering to do and one big piece of the puzzle is for sellers to show confidence in the market by listing their homes.
The video below gives a complete update of the market throughout Boulder County.
Why You Should Invest in Colorado Real Estate
Word is getting out through the media on why Colorado is a great place to buy real estate right now.
- People want to live here!!
- We have not had a real estate bust. (See the graph below)
- Low foreclosure rate. We don’t need to wade through tons of short sales and REO sales in order to start moving forward.
- Strong economy with a young motivated work force who want to stay in Colorado.
- Low inventory – new building started slowing in 2003 not in 2007 or 2008. There is not a stockpile of homes to sell.
But don’t take it from me. Watch this video from Fox Business News
This chart shows median prices in Boulder Colorado from 2000 to 2011. Small corrections but no collapse. We have a strong market with very few distressed sales. We should be one of the first areas to see a full recovery. For more graphs for communities like Louisville, Superior and Erie see this post.
Neil Kearney MBA
Broker/Owner
Kearney Realty Co.
303.818.4055