1st Quarter Real Estate Update

Market Summary:

 

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

 

  • Single Family Homes:
    • Boulder’s single family home market activity remains very strong up to $1.5mm, and is balanced above $1.5mm
    • Denver’s single family home market activity remains very strong up to $1mm, is balanced above $1mm

 

  • Attached dwellings (condo/townhome):
    • Boulder’s attached dwelling market activity remains very strong in the more affordable ranges up to $750K, and is balanced above $750K
    • Denver’s attached dwelling market activity remains very strong in the more affordable ranges up to $750K, and is balanced above $750K

 

  • Current Inventory: Inventory is building as is seasonally expected, and is similar in almost all markets as compared March 2016.

 

  • Units Sold: The number of units sold in March 2017 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 has increased in all other SFH markets.  With the exception of Lafayette, the “Days to Offer” for attached dwelling continues to increase in all other sub markets, in some cases these increases are substantial.

 

  • Appreciation: (12 months, all markets)

 

APPRECIATION IS TRENDING DOWNWARD SLIGHTLY FOR SFH

 

  • Single Family Homes: 86% (last month = 11.11%).

 

APPRECIATION IS TRENDING UPWARD SLIGHTLY FOR ATTACHED DWELLINGS

 

  • Attached Dwellings: 48% (last month = 19.669%)

 

  • Market Talking Points:

 

 

  • Year End Market Summary: The overall single family home market is appreciating between 9.45% – 13.8%, and the condominium market is appreciating between 17.45% – 26.4% (depending on the sub-market). The more affordable price ranges are currently a “Seller’s Market”, and the upper price ranges are a “Balanced 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. Most notably condominiums in Boulder and Denver

 

  • The “days to offer” has increased in almost all markets compared to the same time last year (with the exception of Lafayette and the Mountains)
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