A semi-dry April has been followed by a very rainy May for the Front Range. This is a great thing, despite the threat of floods, as we’ll have a nice colorful Spring and beginning of Summer! It is sad to say goodbye for now to ski season but a fun filled summer of activities awaits.
Concerning Boulder/Denver real estate, the data for spring continues to show increased buyer demand in most market segments. The limited housing supply has driven prices above the last market peak of 2007/2008. With the exception of Boulder proper, we are seeing improved housing inventory numbers as compared to both last month as well as last year. Denver again showed the strongest month to month inventory gains. The inventory of attached dwelling units remained level in most market segments as compared to April. The exceptions were Denver, which showed an increase in inventory, and Boulder which showed a decrease.
Sales volume remained fairly level on a month to month basis. Although we are only using 4 months of data points for the YTD sales info, both median and averages prices have increased substantially in Boulder and Denver. Boulder single family home price increases range between 20% and 26% as compared to this time last year, and Denver ranges between 15% and 19%. For attached dwellings, Boulder increases range between 8% and 16%, and Denver ranges between 19% and 20%.
Single family homes
*Boulder up to $1.5mm is a sellers market
*Denver up to $750k is a seller market
*Boulder up to $1mm is a sellers market
*Denver up to $750k is a sellers market