THE MARKET BY PRICE BAND:
$0-500k had a slower under-contract rate, making a little more inventory in this category. Buyers, you may have a slightly easier time going under contract at the low-end right now.
$500k-1mm was bonkers last week, with a 185% sell-through rate. Inventory is stretched ultra-tight in this category. Buyers, you may be competing with other buyers for your property. Sellers, hustle to market ASAP in this category.
There was balance in the $1-2mm markets last week, with an equal number of new listings and under contracts. Neither segment had many new listings; sellers, there is opportunity here too.
The $2mm-$2.5mm and $2.5mm+ markets seemed fairly quiet last week, with more listings coming to market than buyers going under contract, creating more inventory. HOWEVER.
Let's dive a bit deeper here, because numbers don't tell the whole story in luxury right now.
Anecdotally, last week a 'cream puff' came to market in North Boulder for $4.25mm, with an A+ location, king-of-the-world views, a well-built/newer house. Within 2 days, it had 14 showings with vetted buyers, 50% from the area, 50% from out-of-state. Within 3 days it had 3 cash offers, one verbal, and two more that could have come in the next day. Our lucky buyers are under contract on that property.
The take-away: There are an unprecedented number of luxury buyers circulating in the market right now, looking for just the right property. They're not going for overpriced properties that need work. They're going for well-appointed, well-priced, in move-in condition properties that have some inside/outside space. If you've got views, all the better.
Luxury sellers, get your home in 'cream puff' condition and get to market. No one knows how long we will have this many qualified luxury buyers shopping for Boulder/Boulder County properties. If you'd like us to consult on how to get into selling condition with best ROI, please give us a jingle.
Luxury buyers, there is a buying opportunity in Mapleton Hill and Boulder County right now, with 11.3 and 17.5 months inventory respectively.