This Month in Real Estate

Market Summary:

 

  • % Of Units Under Contract: (larger markets – Boulder/Denver)

 

  • Single Family Homes:
    • Boulder’s single family home market activity remains very strong in the more affordable ranges (below $1mm), is balanced in the mid-range ($1mm – $2mm) but is slow above $2,000,000
    • Denver’s single family home market activity remains very strong in the more affordable ranges (below $750K), is balanced in the mid-range ($750K – $1.5mm) and is slower in the upper price ranges ($2,000,000)

 

  • Attached dwellings (condo/townhome):
    • Boulder’s attached dwelling market activity remains very strong in the more affordable ranges (below $750K), is balanced in the mid-range ($750K – $1mm) and has become very strong in the upper markets as well, which is a substantial change from last month.
    • Denver’s attached dwelling market activity remains very strong in the more affordable ranges (below $750K), is balanced above $750K.

 

  • Current Inventory: Inventory is building, and is higher in almost all markets as compared February 2016.

 

  • Units Sold: The number of units sold in February was similar to the same month last year (2016)

 

  • Days to Offer: For single family homes, the “Days to Offer” has decreased slightly in the Mountains and Longmont, but is equal or has increased in all other markets.  With the exception of Lafayette, the “Days to Offer” for attached dwelling has increased for in all sub markets, in some cases these increases are substantial.

 

  • Appreciation: (12 months, all markets)

 

APPRECIATION IS TRENDING DOWNWARD SLIGHTLY

 

  • Single Family Homes: 11.11 % (last month = 8%). Although the trend is up, Boulder, Lafayette, Erie and Superior are down, Longmont, Louisville and the Mountains are up

 

  • Attached Dwellings: 669% (last month = 20.31%)

 

  • Market Talking Points:

 

  • Denver Metro Area Market Summary: The Denver Metro area is trending very similar to the same time last year (volume sold, number of listings, etc.)

 

Here are a few interesting Denver Metro area statistics:

 

  • Denver Real Estate: The days on market has increased.  In 2016 the average days on market was 26 days.  In 2007 year to date, this number has increased to 37 days.

 

 

  • Year End Market Summary: In many ways, 2017 is starting out to be very similar to 2016. The overall single family home market is appreciating between 8.5% – 11%, and the condominium market is appreciating between 9% – 22% (depending on the sub-market).  The more affordable price ranges are currently a “Seller’s Market”, and the upper price ranges are a “Buyer’s Market”.

 

A couple interesting points for 2016:

 

  • The inventory of single family homes and attached dwellings for sale is slightly higher than it was at the same time last year.

 

  • Although the attached dwelling market experienced incredible appreciation in 2016, the attached dwelling market “days to offer” has increased substantially in Boulder County as compared to the same time last year. The Denver attached dwelling “days to offer” remains the same as last year.

 

  • The mountain communities continue to be the most improved submarket in the metro area.

 

Although Denver’s upper end market is performing stronger than this time last year, Boulder’s single family home market has slowed significantly over the last 2 months in the upper price ranges.  However, Boulder upper end attached dwellings have become significantly more active since last month.

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