On Saturday May 9th Colorado transitioned into “Safer at Home” regulations. Certain stores and services were able to reopen and Realtors were given the ability to resume showings on occupied properties. This came with added safety measures such as cleaning surfaces before and after showings, social distancing during showings, wearing masks and gloves. The good news was that many buyers (and agents) were ready to go out into the world and view those properties they had been eyeing online. On Saturday we had a big spike. The spike was followed by a general improvement in showings and general activity. The graphs below tell the showing story.
Showings in the broad Boulder area market (Boulder Valley and St. Vrain School Districts) recorded by day. Note the big spike on may 9th.
Total showings for the week in the overall Boulder Area Market set through ShowingTime.
Showings in the City of Boulder by day since March 10, 2020 set by ShowingTime showing service.
Number of Accepted Contracts Continued to Climb
The increased showings resulted in an increase in accepted contracts for the week. Last week there were 87 properties that went under contract and this week that number grew to 97. One year ago this week 116 properties went under contract. In my opinion this is really good activity!
The chart above shows the number of properties that went under contract on a weekly basis. The red line is 2020.
New listings increased significantly as Sellers who have been delaying got back in the market.
Sales are a lagging statistic. Since it typically takes 30-60 days to move from contract to closing, we are now starting to see the results of the activity in March and April. I expect the red line will be moving downward for a number of weeks.
Overall, I’m pleased with the activity in the market. It feels like we are moving forward. I’m starting to get more calls and am having planning meetings with sellers who will shortly be listing their properties. Stay safe out there and have a good weekend! Next week I may show you my haircut.
