by Neil Kearney | Jan 16, 2012 | Boulder County Housing Trends, Statistics
I just finished my annual analysis of the real estate market in Boulder County. In addition to the overall sales trends, I look at the real estate market in Boulder, Louisville, Lafayette, Longmont, Erie, Superior, Suburban Plains and Suburban Mountains. The annotated slide show gives all of the detail for each of these areas.
Here are a few of the important points:
- Total Sales across all categories in Boulder County fell by 2.6%.
- Median Price across all categories in Boulder County fell 1.5%.
- Sales in the City of Boulder were up slightly from last year.
- Sales in Louisville were up 16% from last year.
- Sales in Erie were up 23% over last year!
- Longmont bounced back with 9% more sales in 2011 than in 2010.
- FOR MUCH OF BOULDER COUNTY 2011 WAS A RECOVERY YEAR.
What does 2012 have in store? Here are a few of my ideas:
- One of the challenges right now is to build the inventory of active listings. Buyers are wishing there was more to choose from.
- Factors that point toward an improving market:
- The local economy is improving.
- Interest rates will continue to be favorable.
- Lending guidelines are expected to loosen in the coming year.
- Nationally, foreclosures need to move through the market in order to see overall improvement. Locally, foreclosures have not been a huge issue. This will help us to recover even more quickly.
by Neil Kearney | Jan 9, 2012 | Boulder County Housing Trends, Statistics
The year ended more slowly than I thought it would. December sales for all types of real estate were down 9% for the month. This pulled the year end total 4% behind 2010.
Sales of single family homes were down 13% for the month. Looking back, the only other December in recent history that had sales under 200 units was 2008. As I recall the later months of 2008 the optimism was not high. However, I am excited for the possibilities of 2012. I expect to have a great year selling real estate. Interest rates continue to be favorable and the overall economy is gaining traction. Locally, business seem to be doing well and people keep moving to town. If you are considering a move to the Boulder area I would love to show you why buying real estate in this area is a great investment.
Here are the charts showing the monthly sales activity for Boulder County. Also, included are weekly trends of homes going under contract, total inventory trends and percentage of homes under contract on a monthly basis. For all of your real estate needs call me, I’d love to help.
by Neil Kearney | Oct 6, 2011 | Statistics
The month end real estate statistics for Boulder County during September did not keep up the pace we had seen over the past few months. Sales were almost exactly equal to what we saw one year ago. Sales year-to-date continue to lag 2010 by approximately 7%. We are now heading into fall where we normally expect sales to start decreasing as the holidays approach. The weekly numbers of properties that have recently gone under contract show promise that we will still have a chance to eclipse 2010’s year end sales totals by the end of the year.
Interest rates are still super low so I’m sensing that there are buyers out there taking advantage of this great opportunity to lock in a low payment.
by Neil Kearney | Jul 7, 2011 | Boulder County Housing Trends, Statistics
It really feels like we are making some progress in the market lately. During many years, we have already peaked by July
1st and have already started experiencing the summer stall. This year it has a different feel to it. Buyer’s are out in force and we are still selling at brisk pace. At the end of June 20% of the active listings were under contract. This is a good pace for this time of year. Last year at the end of June 14% of listings were under contract.
For the year, sales are still down 16% but we are making gains and eating into an early deficit caused by the tax credit of 2010. Last month we were 20% behind last year. I expect that we will make even better gains during July since last July was one of the worst summer closing months I can remember.
Here are the keys I see for the market going forward:
- No dramatic interest rate increases. I think everyone expects rates to gradually rise but too much at one time will shock the market. Buyers are still looking for deals.
- The economy seems to be moving in the right direction. We are getting many new residents to the area and the unemployment rates and vacancy rates are very low. This bodes well for the future. As long as we don’t have a huge change in status on a national level I expect to see continued improvement.
- Improvements in short sale processing and credit underwriting. I guess this is more of a wish than a prediction.
To view the latest statistics in graphic form view the slides below. View in full screen for best results.
by Neil Kearney | May 10, 2011 | Statistics
Click on the presentation above to see graphically the statistics for Boulder County real estate for April 2011. On first glance it will appear that the market is struggling. Afterall, sales are down 19% year to date when compared to last year. But remember that last year our market was heavily influenced by the tax credit. Our early sales were very strong but it ended up that we borrowed sales from later in the year. I like to compare this year to 2009. In 2009 we had similar market conditions. Sales so far in 2011 are up 8% from 2009. Inventory is creeping up to healthy levels and market activity as measured by the number of homes under contract remains very strong.
