The hard showing restrictions were lifted on a State level as on Monday the 27th and then they locally they were dialed back. Where we stand now in Boulder County is that we can show “vacant Homes only, provision of gloves and masks, detailed log and cleaning/disinfecting after each showing.” We did see a spike in activity in terms of showings (especially on Monday and Tuesday the 27th and 28th) as seen in the chart below. But we’ll see if the latest restriction, which was released by Boulder County snuffs out the activity.
For the week showings were up significantly, most of those showings took place earlier this week. For the week, in the greater Boulder market area there were 480 showings set through Showingtime, compared to 52 last week.
More importantly we saw an uptick in properties going under contract. This past week 79 properties went under contract compared to 39 a week ago.
Many property owners who were looking to sell this spring have been delaying putting their homes on the market and some who were already on the market earlier in the year but withdrew their listing over a month ago. Collectively, they are waiting for the right time to put their homes on the market. With the lifting of showing restrictions (or so they thought), we saw a big jump in new listings this week.
We’ll see if there is enough buyer demand to meet the supply. We are also starting to see a drop off in closings. Remember that it takes 30 – 45 days to work from contract to closing, so I’m expecting to see low sales numbers over the next few months.
The latest showing restriction is in place in Boulder County through May 8th. We’ll then see if buyers are ready to start coming out to see some of the beautiful homes coming on the market. Until then, have a great week.
