RE/MAX of Boulder Radio talked stats this week with our resident “Guru of market stats”, D.B. Wilson. With the end of the 3rd Quarter, D.B. and Host Duane Duggan provide vital information on the Boulder County real estate market from the perspective of seasoned and successful REALTORS®.
Wilson organizes the stats through the 3rd Quarter by looking at 10 vital statistics for Boulder County in the category of attached dwellings and single family homes. These statistics include total active residential listings, median sales price, average sales price, sales price to list price ratio, average market time, number of sales(year to date), number of expired listings, number of months of inventory, percent under contract, and 30 year fixed rate mortgage. These numbers are then compared with those of last year and 2009.
These statistics for Boulder County are impressive when compared to previous years but even more astonishing when compared to national averages for the same categories. 5 to 7 months of inventory is considered stable, but the current average for Boulder County is 3 ½ months, indicating that this is a seller’s market.
With sale prices up and other categories trending in favor of a seller’s market, people are learning that now is a good time to sell. However, Inventory is at an all time low and will likely continue to be in the spring but Wilson does believe that the market will still continue to be strong for the foreseeable future. Since 2009 the value of homes in Boulder has continually gotten stronger than anyone ever thought imaginable which Wilson says “validates what a great investment real estate is.”
There is still hope for potential buyers in Boulder County, however. Mortgage rates are particularly low right now and certain cities offer more opportunity than others. Often the real estate market has to be localized and even “hyper-localize” to a city by city case or even a neighborhood by neighborhood case.
DB Wilson will be speaking and presenting this information at the Boulder Valley Fall Conference this year on November 20th. This year’s conference will feature many different speakers on both commercial and residential real estate and address issues such as the current lack of inventory. To register for the Annual Fall Conference go to https://www.regonline.com/Register/
To hear the complete stats for 2014 and learn more about the real estate market through the 3rd Quarter please listen to the full recording of RE/MAX of Boulder Radio below.