The Boulder County real estate market is still looking fairly healthy/balanced relative to some of the national market. Also, urban purchases are on the rise.
Aggregate Boulder County Market
2/28 – 3/07, 2021
Great news! New listings went up 12 units week-over-week putting them squarely in alignment with the 2020, 2019 and 2018 new listing numbers year-over-year.
Under-contracts were about 6 units higher Y-o-Y, depleting inventory.
New listings and under-contracts created a 92.2% sell-through rate, which shows more buyer opportunity than we saw in most of the last 6 weeks.
Similarly, inventory popped up to 1.79 months, a more robust number than we’ve seen in most of the last 6 weeks.
Price changes remain super low.
How Is The Local Market
The sell-through rate last week told us that there is a little more inventory for buyers this week in all price bands except $500-1mm.
National Real Estate Data
Home Prices in Cities Rise 16%, Surpassing Suburban and Rural Price Growth For the First Time Since Pre-Pandemic
As the vaccine rollout continues, home buyers are becoming more optimistic about living healthily (in houses) in cities again. For the first time since the pandemic began, there has been more price growth in cities than in suburban or rural locations.
The key take-away: nationally, single-family homes in cities appear to have bottomed and are climbing steadily again. If you haven’t already bought your city property, now is a better time to buy than later, as we will likely see prices accelerate more quickly as people become more and more confident that they’ll be able to enjoy city amenities/living again soon.
What Is Buying Like In Different Cities?
Many cities with lower median home sale prices are seeing enormous Y-o-Y price gains. Conversely, many of our most expensive cities are seeing relatively modest price gains. Note that Denver comes in 10th on that ‘lowest urban price growth’ list, with close to an 11% Y-o-Y urban price growth. This is a relatively modest price gain relative to the national perception of what has happened with housing prices.
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