Sales figures have been down across Boulder County most of the year as compared with 2004 and 2005. The average drop in the total number of sales for single family homes and attached dwellings in Boulder County has been around 10% per month. The highest variances were 17% drops in closings during July and September.
Days on Market
Other statistics that shows the relative strength of the market are Days to Offer and Days on the Market. This is simply how many days it takes for a listing to sell and close. Days to Offer measures the time it takes to receive and accept an offer. Days on the Market measures the total time from new listing to the closing. Taking the difference of the two measures the average time a seller has to move out while the Buyer does inspections and obtains financing.
From the graph above you can see that the Days to Offer and Days on Market statistics are very similar to the numbers we have been seeing for the past few years. The average time to contract is roughly 75 days with another 25 to 30 days in order to close. A few things to keep in mind when looking at this particular statistic. 1) Not all listings sell. The numbers only reflect those listings that were good enough to attract a buyer. 2) Some listings sell during a second or third listing period. If a listing does not sell within the first couple of months the MLS listing is withdrawn and added again (many times with a new price). This original listing does not show up or add to the listing period shown when it does not sell. Therefore, the numbers shown are unquestionably low. For these reasons this statistic is best used for comparison to past years, not as a prediction of how long a home will take to sell.
