Friends,
Locally, inventory is getting low as buyers are continuing to go under contract. We’re seeing good activity at all price points.
Nationally, we’re seeing a massive uptick in second home mortgages, with a considerable uptick in primary residence mortgages.
If you’d like to see other appreciation around the country to compare, please reach out to us. We’re happy to provide appreciation charts from any other metro area in the country.
2020 Highlight Reel
We are so thankful to have enjoyed steady business throughout the challenging year that was 2020.⠀In fact, thanks to your friendship, referrals, and continuous support, last year was our best yet!
Take a peek at our Highlight Reel below to see just a few of the homes we had the pleasure of selling last year.
And, as always, if you know anyone who is thinking of buying or selling in 2021 and beyond, we’d be grateful to receive your introduction!
Thank You,
The Burgess Group Compass Team
Now, To The Numbers…
Aggregate Boulder County Market
1/31 – 2/7, 2021
Inventory continues to be the name of the game.
Last week we had 1.35 months of inventory Year-over-Year (YoY), while 2020 had 2.18, 2019 had 3.21, and 2018 had 2.0 months of inventory YoY.
We continue to have high buyer demand, as demonstrated by our under-contracts for the year. 2021 has 378 under-contracts year-to-date, 2020 459 u-c YTD; 2019 had 368 u-c YTD; and 2018 had 358 u-c YTD.
Remember, the reason we look at under-contracts instead of sales is that u-c’s are a coincident indicator of market behavior; sales are a lagging indicator, demonstrating market behavior 30-45 days prior.
On trend with the second half of last year, seller price changes remain lower than normal, as overpriced sellers wait for the market to rise to their pricing.
<- Data nerds, click up there
How Is The Local Market
By Price Band?
We had robust buyer activity in all price bands last week, with sell-through rates ranging from 103-200%. Buyer activity in all these areas remains strong.
Sellers, it is anticipated that inventory will increase by the second half of 2021, so now is the optimal time to get your home to market.
<- Data nerds, click here
National Real Estate Data
Vacation Home Purchases Continue Dramatic Rise
The mortgage industry tells us that vacation home mortgages were up roughly 80% YoY in January, with primary mortgages up 36% YoY.
See our video to hear how this has affected Boulder and the Denver Metro area.
Burgess Group Compass Exclusive Listings
Click anywhere below to check out our current exclusive listings.
Burgess Group Blog
Boulder County COVID Testing &
Blood / Plasma Donation
Donate COVID-19 Plasma & Blood:
Boulder County is in great need of plasma and blood; if you’ve already had COVID-19, your donation is even more valuable; join our team members Kevin (pictured here) and Andy in giving regularly.
Learn more here to help our community.
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
Share of Mortgage Loans in Forbearance Declines to 5.35%
Are Low Rates Enough to Offset Rising Prices? Builders Say Yes
How factory-built homes could help solve the affordable housing crisis
The Fun Stuff: 60 YEAR OLD KILLS HIP-HOP ROUTINE
CATHERINE BURGESS
Associate Real Estate Broker
303.506.5669
[email protected]
Associate Real Estate Broker
303.301.4718
[email protected]
© Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC
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.
