The Boulder-area real estate market saw substantial improvement across the board in month-over-month sales and inventory for both single-family and attached homes, which could bode well for the summer buying season.
“April was a very, very good month for the area real estate market,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association. “We certainly hope this trend continues at least into summer. We are having a pretty active start to this year’s buying season.”
Single-family home sales increased 29.9 percent in April – 352 units – compared with March’s 271 units. The 140 condominiums and townhome that sold in April represented a 45.8 percent increase from the 96 units that sold in March.
And while year-over-year single-family homes sales dropped 10.2 percent compared with the 392 units that sold in April 2013, condo/townhome sales increased 9.4 percent over the 128 units that sold a year ago.
Both categories of homes saw inventory increases of about 20 percent in April compared with March, though single-family inventory dropped 3.3 percent compared with April 2013 and attached-unit inventory fell 14.6 percent compared with a year ago.
All Boulder-area communities saw improvements of both average and median sales prices on single-family homes, though Broomfield, Erie and the mountains had decreases in the average sales price of condos/townhomes and Broomfield saw a decrease in its median sales price, as well.
“I think we’re doing better than the markets nationwide,” Hotard says. “Reports are showing sales are flat since January across the nation but we’re seeing steady improvement month over month. We’re doing better than much of the nation in terms of our sales volume and prices holding.”
He notes that the lack of inventory is “definitely affecting pricing, no question about it; it continues to be a seller’s market despite the month over month improvement we saw.”
And sales are strong across all price ranges, including of homes priced at $900,000 or above with 27 selling in April and 29 in March, Hotard says.
Owner and Founder
RE/MAX of Boulder