Boulder Real Estate News & National Statistics – August 12, 2022

Local Market Update – Boulder County

71 properties went under contract, in comparison with 70 in 2018, 96 in 2019, 102 in 2020, and 99 in 2021. This is similar to 2018, but substantially below the following three years, reflecting a more temperate buyer approach right now.

Year-to-date under-contracts remain lower, with 2470 thus far in 2022.  This info totally coincides with the local chart below and the chart in the national section below, showing that although inventory is rising, overall we still have low inventory.

Boulder County price changes were close to 100 for the past two weeks. From a trending perspective, the rapid rise in price reductions (that resulted from the abrupt decrease in buyer demand in Q2) that Boulder County realtors saw from April into July has slowed. Price reductions are holding fairly steady, indicating a leveling off of this pricing correction and a leveling in seller confidence.

TO SUM IT UP:

Locally, buyers have more options than they had at the start of the year. Yes, interest rates are higher, but competition is much lower and prices are softer.  So, buyers, remember the adage “Marry your house, date your interest rate.” Move forward now with an awesome property and refinance when rates drop.

Sellers have not flooded the market with inventory, so most of our market is still functioning as a seller’s market.  There is more competition than before, so home prep and accurate market-level pricing is more important than ever.

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