If you're thinking of selling your Boulder County home, indicators show this is a good time to do so.
The fact is home sellers in Boulder County are a rare species. Few home sellers, coupled with the lack of construction, mean available inventory is low, but is poised to rise on increased pricing in 2017. And that lack of inventory is driving the market, according to Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.
Case in point: October's condominium and townhome sales in Boulder County saw a 20.1 percent bump, with 139 units sold compared to 115 in September.That spike likely resulted from the inventory increase of late summer, according to Hotard.
Even so, he says overall there is little change in the Boulder-area market's pattern of low inventory, increasing prices and decreasing sales.
- October's month-over-month available condo/townhome inventory fell 11 percent in October – 154 units versus last month's 173.
- Year-to-date attached dwellings sales fell 13.8 percent through October 2016 compared to the same period last year, with 1,196 units sold in 2,016 versus 1,388.
- Single-family homes month-over-month sales volume dropped a scant .2 percent in October compared to September 2016 – 341 versus 348 units.
- Year-to-date single-family home sales in the Boulder-area markets dipped 11.4 percent through October 2016 – 3,756 homes sold – compared to the 4,239 sold in the same period last year.
- Single-family inventory dipped 12.7 percent from October to September 2016 in Boulder County, with 821 units available for sale this month compared to 941 in September.
Looking ahead, Hotard expects the pattern to continue. "I'm confident that we'll finish the year out and head into 2017 with the same trends. I would expect seller's market conditions to continue at least through the first quarter." Hotard adds that in this kind of market his best advice is to work with a knowledgeable Realtor, whether you are selling or buying. "It's competitive, and in a competitive market it's important to have the best advice you can get."