Boulder Valley is full-on into fall, accompanied by an end of summer slowdown in home sales through September.
"Sales in single-family and townhomes/ condominiums fell significantly in September,"says Ken Hotard, senior vice president of public affairs for the Boulder Area REALTOR® Association. “We saw a noticeable drop in sales month over month, while year over year is holding steady, bolstered by a healthy increase in townhome and condominium sales.”
Single-family home sales in September 2017 dropped 19.7 percent with 350 homes sold compared to 436 sold in August 2017. Condominium and townhome sales decreased 22.0 percent month-over-month in September 2017 – 111 units vs. 142.
Year-to-date, Boulder-area single-family home sales were virtually unchanged, falling a hardly detectable .001 percent through September 2017 compared to the same period in 2016 with 3,439 homes sold compared to 3,435. Condo/townhome sales improved 5.6 percent over the same period – 1,118 units vs. 1,059.
“Statistically, it is a fall-like market,” says Hotard. “Year-to-date we are holding ground, and we need to see the market respond well if we’ll finish out thisyear ahead of last year.”
He adds that inventory plays a big role in sales activity and inventory is down in both categories, modestly in single-family and noticeably in attached.
The inventory of single family homes for sale in Boulder County held pace with last month, dropping a modest .07 percent in September 2017 compared to August 2017 – 1,149 vs. 1,157. Condo/townhome inventory dropped 4.6 percent in September 2017 compared to August 2017 with 228 units for sale compared to 239.
Hotard says the real estate pattern is beginning to feel like a broken record, with sales and inventory fluctuating side-by-side and prices moving upward.
The one change is the rate of price appreciation, which data shows has moderated considerably. Nonetheless demand is strong.
“The only thing that will change this market pattern is an increase in the supply of new housing properties of all types and price categories,” he adds.
And since he predicts we are at a point where interest rates are likely to trend up, Hotard advises, "It’s a good time to go ahead and buy."
Owner and Founder
RE/MAX of Boulder