Boulder realtor Catherine Burgess offers another exciting market update for you, friends! 🤓
1️⃣ LOCALLY, new listings, under-contracts, and inventory were in the ballpark of what we’ve seen in the last three years
.
2️⃣ NATIONALLY, more movers are single-income households, and 83% of people feel happier after relocating!
Quick Market Recap
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Local Market Update:
Boulder real estate agents had 66 new listings come to market last week, vs 63 in 2018, 50 in 2019, and 63 in 2020.
80 properties went under contract, in contrast with 77 in 2018, 68 in 2019 and 91 in 2020.
We had .79 months supply of inventory, which was significantly lower than 2018 (.97), 2019 (.86), and 2020 (.69).
So, these numbers are in the ballpark of what we’ve seen in the past three years.
Year-to-date under-contracts show the overall strength of this year’s market, with 4437 in 2021, 3850 in 2018, 4003 in 2019, and 4269 at this time in 2020.
Price change numbers, a coincident indicator showing seller confidence, show a very different seller confidence today vs in the last three years. Last week there were 22 price changes, with 57 in 2018, 75 in 2019 and 40 in 2020. Sellers are feeling pretty darn confident right now.
Activity By Price Band:
Both $1.5-2mm and 0-$500k had a lot of activity, with 167% and 185% sell through rates respectively. Above $2mm was quiet, so you should see more inventory/opportunity here.
National News: Important Headlines
34% of Recent Movers Live In Single-Income Households, Up From 29% Before the Pandemic; More than three-quarters of respondents report feeling happier after relocating.
The number of households living with dual incomes has declined from 62% pre-pandemic to 58%.
During the pandemic thousands of people lost their jobs, many parents had to leave the workforce to care for their children, and remote work allowed many people to relocate to more affordable locations.
A lot of the families that were able to move down to one income during the past 18 months have been high earners, who tend to have the flexibility to work remotely.
They relocated to less expensive places such as Atlanta, San Antonio, and Tampa, all locations with median home prices well below the national level.
Low-wage earners, must show up to work every day, have less ability to relocate to lower-cost locations.
Early retirement may have also decreased the number of households with dual-incomes; the Federal Reserve Bank of St Louis reports that
3 million baby boomers went into early retirement as a result of the pandemic.
83% of people report that they feel much happier post-move. Many people moving are getting more for their money, and sometimes more space, better weather/schools, and less travel time to work.
Holiday Vibe Check!
The Holidays are upon us, and a local Boulder realtor here is pleased to present a couple new blogs that are sure to help you through the hectic season ahead…
Got some non-skiers coming to town?
Our beautiful landscape provides us with so many opportunities for snow day fun, but if
skiing/ snowboarding isn’t your thing, we’ve recommended a few amazing snowventures to try this winter!
Click Here For Our S
nowy Suggestions
Yippie pie-yay!
A foodie and Burgess Group Boulder realtor has rounded up the best places to grab your Thanksgiving Pies (and full meals!) in Boulder and beyond!
We’ve listed the flavors available and contact information for all our favorite bakeries! It’s your one-stop (pie) shop!
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.
