2ND SELLING SEASON BEGINS- MARKET LOOKS HEALTHY

Friends,
Under-contracts this week are again slightly surpassing 2019 Year-over-Year numbers.

For your weekly diversion before digging into the real estate nitty-gritty, join incredible inventor Simone Giertz creating a scissors lamp.



BOULDER COUNTY REAL ESTATE MICRO DATA:


Boulder County Stats 8/23/2020-8/30/2020


THE AGGREGATE MARKET:
This week in Boulder County we saw a solid increase in inventory, up 14 properties from last week, and up 16 units from 2019 year over year.

Under-contracts were up 2 W-o-W, up 9 Y-o-Y.

Price changes are still down significantly. In 2019 we had 81 price changes for this time; last week we had 59.

Inventory and under-contracts show a little bit more of a buyer-friendly market, with a 94% new listing to under contract ratio, with 1.05 months of inventory, a little more balanced than last week.



THE MARKET BY PRICE BAND:
Inventory in the $0-500k market is incredibly low. Now is a great time to bring your property to market in this price range.

We’re seeing the most inventory in the $500-1mm range, with a continued high under-contract rate.

The $1-1.5mm continues to look healthy, with a jump up in inventory and under-contracts.

The luxury market had more inventory and fewer under-contracts in the $2-2.5mm range, with $2.5mm having a 1.25% sell-through rate – good activity in both oareas.



Local Real Estate In A Nutshell


It appears that the usual September secondary market has started a little early this year. We can expect to see good activity for 4-12 more weeks, depending on weather, COVID, election, etc.

Right now is a good time to sell in all bands.

Buyers, in the low market you’ll need to be on your toes as inventory is really tight. Also, you may also want to examine properties that came to market high and have been sitting on the market for a while; they may be receptive to an offer.

Next week we will publish an analysis of luxury inventory in top Boulder locations.


NATIONAL MACRO DATA:


Caliber Home Loan CEO Projects to the 2021 Housing Market



The Uncommonly Strong Case For Locking a Mortgage Rate

Examining Rental Housing in the US

Black Knight: Number of Homeowners in COVID-19-Related Forbearance Plans Decreased

U.S. is still in a ‘very significant recession’ despite job gains, Fed’s Rosengren says


Wishing you health. Call us with questions.


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Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.