As summer activities reach their July peak, home buying in Boulder County wanes, succumbing to the allure of family vacation, uninterrupted play time, and preparing for the start of school.
Photo courtesy of Robson Hatsuka Morgan on Unsplash
Sales of single family homes in the Boulder-area markets dropped 13.5 percent in July 2017 compared to June with 448 homes sold vs. 518. Condominiums and townhomes July 2017 sales also slowed, decreasing 7.1 percent – 130 units sold vs. 140.
“It’s pretty typical to see a slowdown in sales at the beginning of the third quarter, so this reflects the trend of past years. In July, people focus less on home buying and more on summer vacations,” says Ken Hotard, vice president of public affairs for the Boulder Area Realtor® Association.
Hotard says home prices are holding, though may have slowed the ongoing rise that has characterized Boulder County real estate in recent years.
Countywide, single-family home sales year-to-date are unchanged, falling a scant .03 percent through July 2017 compared to the prior year through July – 2,605 homes sold vs. 2,612.
Representing a generally lower price-point, condominium and townhome sales in the Boulder-area markets improved 9.2 percent year-to-date for the same period – 854 units sold vs. 782.
Hotard notes that inventory in the Boulder-area markets has stabilized, though compared to demand there are relatively fewer homes for sale. Inventory of single family homes for sale in Boulder County improved .17 percent in July 2017 compared to June, with 1,183 homes available for sale vs. 1,163. In townhomes and condos, inventory dropped 4.3 percent for the same period with 197 units for sale compared to 206.
But Hotard says the July slowdown doesn’t mark the end of the summer home buying season.
“If history teaches, I would expect to see positive gains in sales as we head into fall. School gets started, schedules settle, and the market typically gets more active.”