Entering Summer Season

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Here’s a quick recap of where we are this month in our market~

Information provided by IRES and Metrolist Information Services.

 

Boulder Single Family Homes, Market Recap:

 

  • Percentage of Homes Under Contract = Similar to last month
  • Year-to-Date Home Sales = Equal as compared to the same date as last year.
  • Monthly Single Family Home Inventory = down (-9.44%) as compared to the same month last year.  
  • The Days-to-Offer = down (-25.8%) from the same time last year.
  • Median Sales Price = Up (+19.4%) from the same time last year
  • Average Sales Price = Up (+24.1%) from the same time last year.

 

Price Range                           Activity Level

$0 to $1.5mm              =         Seller’s Market

$1.5mm to $2mm        =         Balanced Market

$2mm and up             =         Buyer’s Market

 

Boulder Attached Dwellings, Market Recap:

 

  • Percentage of Homes Under Contract = Higher in the lower price ranges, Lower in the higher price ranges
  • Year-to-Date Home Sales = Up (+2.7%) as compared to the same date as last year.
  • Monthly Single Family Home Inventory = down (-34.1%) as compared to the same month last year.  
  • The Days-to-Offer = down (-45%) from the same time last year.
  • Median Sales Price = Up (+18.3%) from the same time last year
  • Average Sales Price = Up (+23.5%) from the same time last year.

 

Price Range                           Activity Level

$0 up to $1mm                        =         Seller’s Market

$1mm and up              =         Balanced Market

           

Denver Single Family Homes, Market Recap:

 

  • Percentage of Homes Under Contract = Similar to last month
  • Year-to-Date Home Sales = Up (+12.2%) as compared to the same date as last year.
  • Monthly Single Family Home Inventory = Up (+28.6%) as compared to the same month last year.  
  • The Days-to-Offer = down (-29.5%) from the same time last year.
  • Median Sales Price = Up (+16.5%) from the same time last year
  • Average Sales Price = Up (+13.1%) from the same time last year.

 

Price Range                           Activity Level

$0 to $750,000            =         Seller’s Market

$750,000 to $1.5mm   =         Balanced Market

$1.5mm and up           =        Buyer’s Market

 

Denver Attached Dwellings, Market Recap:

 

  • Percentage of Homes Under Contract = Similar to last month
  • Year-to-Date Home Sales = Equal as compared to the same time last year.
  • Monthly Home Sales = Up (+10.4%) as compared to the same month last year.  
  • Monthly Single Family Home Inventory = Up (+54.5%) as compared to the same month last year.  
  • The Days-to-Offer = down (-28.6%) from the same time last year.
  • Median Sales Price = Up (+16.9%) from the same time last year
  • Average Sales Price = Up (+14.9%) from the same time last year.

 

Price Range                           Activity Level

$0 to $750000             =         Seller’s Market

$750,000 to $1mm      =         Balanced Market

$1mm and up              =         Buyer’s Market

Overall Market Recap:

 

The Boulder/Denver real estate data for spring/early summer continues to show the equally high buyer demand in almost all market segments.  Normally, we experience a temporary slowdown in Buyer demand after Memorial Day; however, this did not occur in 2015 as Buyer demand remains strong.

 

One significant difference we are experiencing between the Boulder and Denver real estate markets is the amount of inventory available for sale.  Boulder’s inventory levels remain weak and are significantly lower than this time last year.  As a result of the limited inventory, Boulder’s prices have again reached a new all-time high, with the average price at $987,565.  Conversely, Denver is bringing a significant amount of new single family home and attached dwelling inventory to the marketplace.  Regardless of the added inventory, Denver’s prices are also continuing to rise at a double digit pace, just not as quickly as Boulder.

 

With this current market activity, it is no surprise that the amount of time it takes for a broker to procure an acceptable offer has dropped between 25% and 55% as compared to this time last year.  Sales volume remains equal on a month to month basis for single family homes, but we are experiencing an increase in sales volume for attached dwellings.

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