Boulder Real Estate: A Mid-Year Summary and Review

Boulder Real Estate: A Mid-Year Market Update and Review.  How is the Boulder real estate market faring this year?  In the last 12 months?  The following statistics are taken from IRES as of 7/06/2010, and tend to reflect a residential re-sale market in Boulder that is offering some encouraging signs.  We wanted to present a number of charts this time, so we're using a new magazine-type format:

Browse Boulder Re-Sale Market Stats Using This Link

Overall, median and average Boulder home prices have remained basically flat over the last 12 months, at about $530,000 and $637,000, respectively.  What's encouraging is that the average days on market, or DOM, has been reduced by about 32% to 75 days, while at the same time the overall inventory is down from a year ago.  Also encouraging is that the number of units under contract is up by 5% from a year ago, and the number of units sold is up 11% - both very good signs.  While overall prices have remained relatively flat over the past year, volume tends to preceed price.  Basically, we are seeing a typical seasonal increase in the overall inventory in Boulder, but not quite as high as last year and . . . they're selling a little quicker.

Another interesting chart is the DOM breakout, which takes the overall DOM calculations and breaks them down into 3 categories, 0-90 days, 91-180 days, and 181+ days.  Here, it's positive to see the lower category increasing and the upper ones decreasing, and that's exactly what we see.  The 0-90 day category (homes that on average are selling in less than 90 days), is up 280%, while the 2 higher categories are down by 27% and 74%, respectively.  In a nutshell, this indicates that more homes are selling quicker and that fewer homes are taking longer to sell than a year ago.

Keep in mind that these are overall numbers and averages and that the results are different when broken down by price range in Boulder, but the mid-year numbers point to an encouraging overall trend.  If you are considering selling or buying a Boulder home or making a move to Boulder, CO, please feel free to contact us.