Increase in values, fewer days on market, multiple offers….

Interest Rates have gone up lately, but are still historically low.

200 Year Historical Rates On 30-Year Fixed-Rate Mortgage Chart

30 Year FHLMC Rates On 30-Year Fixed-Rate Mortgage Chart

Graphs provided by Mitchell Friedman, Citywide Home Loans

 Mortgage Type
 National
 Local
 15 Year Fixed
3.29%
3.375%
 30 Year Fixed Jumbo
4.82%
4.875%
 30 Year Fixed
4.27%
4.25%
 5/1 Arm
3.15%
3.375%
 5/1 Arm Jumbo
3.99%
4.125%
 FHA 30 Year Fixed
4.5%
4.25
Examples and are based on market conditions as of August 6th, 2013. Local rates include 1 point paid to Lender. This is not a guarantee of any kind.  Interest Rates are subject to daily change based on market conditions and a variety of specific qualifications for borrowers.

 

 1856 Mallard Dr
 UNDER CONTRACT!
 Superior, Colorado
 

 1850 22nd Street #1
 $485,000
 Boulder, Colorado

 584 Juniper Court
 SOLD!
 Louisville, Colorado

100 W Park Ave Unit 604
SOLD!
Denver, Colorado

Year to Year Comparison:  (January 1st – July 31st, 2012 vs 2013)

Residential

Location             Total #Sold

Avg. Sales Price

Avg. Days to Contract

Median Sales Price

2012

2013

2012

2013

2012

2013

2012

2013

Boulder

511

   524

$669,000

$747,000

78

37

$570,000

$641,000

Denver

17,951

21,388

$298,000

$331,000

70

45

$248,000

$275,000

Louisville

156

150

$431,000

$468,000

58

31

$385,000

$469,000

Lafayette

211

218

$372,000

$382,000

67

44

$335,000

$382,000

Broomfield

483

570

$330,000

$313,000

64

37

$295,000

$313,000

Superior

104

105

$420,000

$430,000

43

31

$386,000

$430,000

Erie

257

344

$339,000

$342,000

71

45

$325,000

$342,000

Mountains

782

937

$393,000

$365,000

136

109

$341,000

$365,000

Longmont

642

767

$258,000

280,000

67

46

$232,000

$259,000

Attached Dwelling

Location          

Total #Sold 

Avg. Sales Price

Avg. Days to Contract 

Median Sales Price

2012

2013

2012

2013

2012

2013

2012

2013

Boulder

439

507

$315,000

$323,000

113

50

$255,000

$270,000

Denver

5,862

7,494

$189,000

$211,000

76

46

$148,000

$168,000

Louisville

31

42

$217,000

$245,000

92

28

$200,000

$211,000

Lafayette

80

93

$189,000

$208,000

69

43

$191,000

$210,000

Broomfield

128

149

$216,000

$222,000

109

58

$223,000

$213,000

Superior

28

32

$203,000

$209,000

49

46

$180,000

$193,000

Longmont

166

179

$175,000

$194,000

85

51

$160,000

$185,000

Information Provided by IRES, Information and Real Estate Services and Metrolist. All reported sales were not necessarily listed or sold by Four Star Realty and Property Management, Inc. and are intended only to show trends in the area.

Summary of YTD Sold Statistics:

Single family Homes: Both Average and Median home prices are up from 2012.  In addition, the Days to Offer are down considerably.  Although the unit sold volume is also higher, the number of units sold could be much higher if there was a greater inventory of homes to sell.

Attached Dwellings: Like Single family homes, Average and Median prices are also up, and attached dwellings are selling in fewer days than in 2012.  The inventory is low, so the volume of attached dwellings sold is considerably lower than it could be with adequate inventory.

With the reduced inventory for all types of residential properties we are experiencing greater increases in values, fewer days on market and often times multiple offers from Buyers.

Local Business News

Pearl Street Mall to get flip-flop seller  Longmont resident Amy Neb, who owns the Flip Flop Shops store at Park Meadows Mall in Lone Tree, is opening a second store in Colorado Aug. 15 on the Pearl Street Mall in Boulder. Read More

Dillard’s wants jury to decide store’s value   Dillard’s Inc. wants a jury to decide the value of its property in Longmont in an eminent-domain case, a company lawyer said Thursday. Boulder District Court Judge D.D. Mallard said she would issue a written decision about the jury request.
Read More

Erie extends waivers for historic downtown  The town of Erie’s board of trustees approved extending an ordinance waiving certain fees for building permits in historic downtown Erie through 2016. The permit fees to be waived are for building, electrical, mechanical and plumbing. It also includes miscellaneous fees for demolition, fence, reroofing, solar energy systems fee and plan-check fees. Read More

Boulder City Council to vote on a future without Xcel The Boulder City Council will vote tonight on moving forward with plans to create a city-owned utility to provide electricity to residents and businesses in place of Xcel Energy Inc.  Read More

Area apartment vacancy rate up slightly  The apartment vacancy rate for Boulder and Broomfield counties increased slightly in the second quarter of this year, according a report released Wednesday by the Colorado Division of Housing and the Apartment Association of Metro Denver. The local vacancy rate of 3.8 percent is lower than the rate for Colorado – 4.2 percent, a 13-year low.  Read More

Parade of Homes kicks off Thursday The 2013 edition of the Parade of Homes, organized by the Home Builders Association of Metro Denver, begins its run Thursday and ends Labor Day, Sept. 2. Read More

Trader Joe’s picks Greenwood Village for 3rd Colorado store Trader Joe’s has signed a lease for what will be its third Colorado store, in Greenwood Village, a company official confirmed. The Monrovia, Calif.-based specialty grocer store will open its store in a 10,000-square-foot space at the Cherry Hills Marketplace at 5901 S. University Blvd., near the corner of University and Orchard Road. Read More

 

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