by neil kearney | Feb 11, 2010 | Boulder County Housing Trends, Statistics
The real estate market is off to a quick start this year. I see three major reasons why we are seeing increased activity. The first is the extended tax credit. The second is low interest rates. The next reason is less quantifiable but just as valid. I see the third cause of the improved market so far this winter as an overall improved confidence. Many people have been slogging along over the past 18 months, listening to bad news, cutting their spending and hoping it doesn’t affect them too much. Just like a farmer’s tentative first steps out of the cellar after the tornado, most people pick up a few sticks and are glad the tornado hit the next town. It’s time to start living again.
Showings are very strong and contracts are just starting to react. You will see that total sales in Boulder County were just about the same as they were last January. Not great, the feel going forward is totally different. Last January the phones were silent and people were in shock. This year contracts are up and we are ready for an early spring.
It feels like we have a lot of “mass” behind the early sales. Most of the early activity is still in the lower price ranges. However, there are currently 16 homes under contract which are listed above $1,000,000 in Boulder County. Let me know if you questions. But for now I need to get back to work.
The slideshow is best when viewed in “full screen”. Just hit the second button in on the top right corner.
by neil kearney | Jan 12, 2010 | Boulder County Housing Trends, Statistics
http://viewer.docstoc.com/v2/
Boulder Real Estate Statistics – December 2009 –
Sales of all residential real estate were up 2.2% in December over last year. This marks three straight months of increases. Inventory is creeping up a bit, but I think this is mostly due to the surge of new listings we get after the Holidays. The above presentation includes: sales for single family and condos in Boulder County, Median Price of sales, Under Contract Ratio and Total Inventory.
Coming soon is the 2009 Boulder Real Estate wrap-up.
by neil kearney | Jan 10, 2010 | Boulder County Housing Trends, Statistics
The City of Louisville, Colorado has been a consistent performer on the local real estate scene. Louisville is a town of roughly 20,000 people located approximately 7 miles northeast of Boulder, Colorado. It has been honored by Money Magazine as the “Best Place to Live” in its size category for two straight years. Whenever I look at comparative statistics such as, under contract percentage or absorption rate (an indication of market flow), Louisville always ranks at, or near the top when compared to the rest of Boulder County.
There were 271 sales (single family, condos, investment) within Louisville during 2009, twelve more than were recorded in 2008. At any given time it is common to find low a inventory of homes on the market and in contrast to its close neighbor, you can find a very nice 3 bedroom home for the median price of $331,000. Median prices have increased every year over the past decade and were up almost 4% during 2009. The rest of Boulder County was down 3% last year.
The absorption rate is a measure of market flow which relates the current inventory to the number of homes that sell during an average month. In Louisville, the absorption rate is approximately 3.5 months. This means that it would take 3.5 months to sell all of the homes currently on the market given the sales rate over the past year (a theoretical study but interesting nonetheless). For comparison the average absorption rate in the City of Boulder is about 6.5 months.
Louisville has much going for it right now but the future looks especially bright. Conoco Phillips is in the process of building a major corporate campus on the old Storage Tek site. This campus’ first phase is scheduled to be completed in 2013 and will bring multiple thousand jobs to the area. If you are interested in making an investment in Louisville Colorado give me a call. All statistics are from data collected from IRES MLS and are compiled by Neil Kearney, Broker/Owner of Kearney Realty Co. Metro Brokers.
by neil kearney | Jan 8, 2010 | Boulder County Housing Trends, Statistics
Real estate sales within the city limits of Boulder were more deeply affected by the tough market conditions in 2009 than Boulder County as a whole. Total sales of all types of residential real estate were down 21% within Boulder while the broader market of Boulder County was down 15% when compared to 2008 sales. The main reason why the sales were down more in the city than in the county was price. The median price in the City of Boulder is nearly twice than those in the county as a whole and this year the lower price ranges were selling much better than the higher priced homes. 
Median prices within the City of Boulder for all residential sales was down just 1.8% at a combined price of $393,000. The median price of single family detached homes in the City of Boulder were $525,000. This represents a decrease of 2.4%. For condos the median price for all sales during the year was $242,000; this represents a decrease of 2.8% for the year.
Absorption rate is a statistic which analyzes both inventory and sales. The result of the equation is a number which shows the number of months it would take to sell all of the current inventory given the sales rate over the past year. The charts below show year end absorption rates for both single family homes and condos within Boulder Colorado. The closer you get to zero, the better the market (at least for a seller). Currently, it would take between six and seven months to sell all of the available homes. 
by neil kearney | Dec 10, 2009 | Statistics
Here are a few key charts from the latest real estate market statistics from Boulder Colorado and the surrounding area. For full details click here.
