It’s becoming a very difficult market for buyers. In February, 61% of all sales in Boulder County sold for a price in excess of the list price (up from 48% in January and 47% in December). The average sale price for all properties was 5.3% above the listing price. When a property sold for above list price then the average sale was 9.8% above the list price. 14% of all sales sold for 15% or more above the listing price. What all of this leads to is super-charged price appreciation. We have seen highly competitive markets before but what is new are buyers willing to pay 20% to 30% above the most recent area sale in order to secure a home. Boulder County has had the most stable real estate market in the nation since 1972. Prices rising at this pace remind me that real estate is cyclical and that at some point the market will cool. View the annotated slideshow below to see all the details.
