Boulder realtor Catherine Burgess offers another informative market update for you, friends!
In a nutshell: The Boulder real estate agents at Burgess Group report that last week our local market behaved typically for this time of year; We are ending the year with over 600 more under-contracts than in 2018. Nationally, rents rose 7% in a month, up 21% from 2020.
Quick Market Recap
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Local Market Update:
Boulder County realtors had 33 new listings come to market last week, vs 37 in 2018, 29 in 2019, and 34 in 2020.
46 properties went under contract, in contrast with 43 in 2018, 60 in 2019 and 55 in 2020.
We had .63 months supply of inventory, which was slightly higher than 2018 (.47), 2019 (.38), and 2020 (.41).
Year-to-date under-contracts show the overall strength of this year’s market, with 4797 in 2021, 4183 in 2018, 4375 in 2019, and 4660 at this time in 2020.
So, we’ll be ending the year with ~ 614 more under-contracts than in 2018, ~424 more than in 2019, and ~ 137 more than in 2020. Phew! Our Boulder realtor team will have to watch to see if the market maintains momentum, or if we’re going to see a return to the lower transaction levels of previous years.
Activity By Price Band:
After luxury buyers went under contract at a fairly frenetic pace for the past several weeks, last week luxury buyers slowed down, evidenced by the 50% sell-through rate. All the price bands from $2mm down had more (buyer) under-contracts than (seller) new listings.
National News: Important Headlines
Rents Up 7% in a Month, 21% Higher than in 2020
As some buyers priced out of the sale market and started looking to rent, the rental market has fielded additional demand.
There is so much additional demand that rents are now up 21% from 2020 year-over-year, and 7% up month-over-month.
People who have already purchased are likely to appreciate their fixed housing expenses.
For those of you who are just learning about real estate, especially at times of significant inflation, it is a tremendous asset to have fixed housing costs as a result of a fixed-rate mortgage or cash property purchase.
Happy Holidays & CHEERS To The New Year
The Boulder realtor team at Burgess Group | Compass wishes you a very Happy Holiday season and a peaceful and prosperous New Year.
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