Last week, the Boulder County real estate market has performed almost exactly like it did in 2019 year over year (YoY).
Boulder County Real Estate Statistics and National Real Estate News
Burgess Group Compass Exclusive Listings
Five Questions With…
Our new blog series, “Five Questions With…” will introduce you to the diverse set of humans who make up the Burgess Group Real Estate Team.
This week, Tricia Dessel chats about her love for skiing with her family and the Winter Park Area.
Click here to learn how Tricia got into skiing and how this hobby elevates his real estate career.
And in case you missed it, here is last week’s interview with Andy Burgess and cycling.
Burgess Group Blog
Boulder County Real Estate Statistics
December 13, 2020 to December 20, 2020
Last week’s new listings and under-contracts looked almost exactly as they did in 2019.
At this time of year, inventory typically gets very low. Last week had .39 months of inventory – super low!! That said, the same week in 2019 had .38 months inventory, and 2018 had .3 months inventory. As we’ve seen every year in the early winter months, inventory will increase with time.
Last week we hit 401 more closed transactions than in 2019 and 570 more than in 2018. Wow!
(Click the chart below to see stats for all of 2020.)
THE MARKET BY PRICE BAND
Holy crow. Buyers were fully engaged in all market segments last week, with luxury buyers creating a sell-through rate of 300% and entry-level buyers creating a sell-through rate of 200%. Robust buyer demand continues.
Local Real Estate in a Nutshell
Buyers, if you’ve had your eye on a property, the quiet end of December can be a good time to go under contract without much competition.
Sellers, as seen above, buyer demand is enormously outpacing inventory. If you’re planning to sell, get your house ready now and come to market. The early January market will likely be robust.
National Real Estate Data
Luxury Home Sales Surge
U.S. luxury home sales increased 60.7% year over year from September through November, an enormous jump. Reflecting a ‘k-shaped recovery’, this growth outpaced the 14.8% increase in sales of mid-priced homes and the 6.8% uptick in sales of affordable homes.
Luxury sales are occurring in every location. The vacation home market is especially on fire, as buyers purchase get-away spaces during this time of difficult travel.
Luxury inventory is up 31.5% nationally YoY, as many luxury property owners have the ability to move elsewhere during this pandemic. This increase in inventory is more than double that of any other tier.
It is anticipated that builders are focusing on luxury new builds nationally, so supply will likely continue to increase.
Nationally, the average time to sell for luxury properties has decreased by 27 days. Additionally, 2020 price growth evened out between the various price bands, with only a .5% split between the low and high ends at the end of November.
Burgess Group Blog
Boulder County COVID Testing
The Stazio Ballfields off 63rd and Stazio reopened for drive-up COVID-19/other tests. It can be very efficient, quick, and easy to pre-register online.
More Real Estate News
Why home prices likely won’t go down over the winter
Refis Continue to Dominate Mortgage Apps
Rental assistance in new Covid relief plan is not enough, experts warn
The Fun Stuff: Some Good News Holiday Edition with John Krasinski
Associate Real Estate Broker
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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.