Our market is maintaining its strong momentum.
Prior to digging in on the numbers, below is your weekly chortle.
BOULDER COUNTY REAL ESTATE MICRO DATA:
Boulder County Stats 7/19-7/26/2020
THE AGGREGATE MARKET:
Similarly to the vacillating listing/under-contract numbers of previous weeks/months, listings increased week over week by 19 and under-contracts decreased by 13. We had a fairly high number of price changes (65), which indicates seller motivation to find market value and get under contract while the market is hot.
After a surge of luxury buyer under-contracts the previous week, the market responded last week with an increase in luxury listings. Under-contracts did not match this new inventory, creating more inventory for luxury buyers. We are continuing to see many turn-key and ‘cream puff’ luxury homes selling well.
The market is quite balanced in the $0-1.5mm range, with the majority of the activity right now in the $500-1mm range. If you have a property to sell in one of these three price bands, get organized and sell while the market is still hot.
Local Real Estate In A Nutshell
Last week our market was quite balanced with a 96% Boulder County sell-through rate. Relative to 2019 year over year, our under-contract rate is up 38%. Wow!
The Back End of Real Estate
PRIVATE EXCLUSIVE: What the heck is it?
New national MLS-enforced constraints are changing the way agents can pre-market properties. Now, our earliest possible advertising is through a status called “Private Exclusive.”
This category allows brokers to advertise your listing within their agency prior to “Coming Soon” or “Active” statuses. Showings are permitted during this time. Additionally, no days-on-market accrue.
This status may or may not benefit your property, depending on the nuances of what you’re selling and how the market is behaving. When you’re ready to sell, let’s discuss if this status could benefit your sale.
NATIONAL MACRO DATA:
We’re not even thinking about raising rates, says Fed chair Jerome Powell.
Click below for a tantalizing (hour-long) nugget on monetary policy. The first minutes are also good. 😉
How the Coronavirus Pandemic Pushed Home Prices to a Record High Vis a vis this article, locally we are not seeing price increases across the board. Our housing stock is stretched tightly in the $0-500k range, with $500-1mm coming in second. There may be minor increases in these bands at this time.
Builder Confidence in the 55+ Housing Market Rebounds in Second Quarter
Census: Household Pulse Survey shows 26.5% Missed or Expect to Miss Rent or Mortgage Payment
Wishing you health. Call us with questions.
Associate Real Estate Broker
Associate Real Estate Broker
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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.