Inventory fell to .97 months supply last week for Boulder County single family residences. Historically low interest rates and urban flight are stretching our inventory.
Remember that a balanced market has around 5-6 months of inventory (meaning 5-6 months are needed to sell the current existing inventory if no more inventory were introduced to the market). A buyer's market is above the 5-6 month threshold, and a seller's market is below
. So, looked at generally, .97 months inventory strongly favors sellers.
That said, as we see every week in the price band analysis, some price bands have more inventory/under-contracts than others, so the market does not function as a strong seller's market in all price bands. Typically Boulder County carries a quite a bit more luxury inventory than we have luxury buyers, so it can still be a buyer's market in luxury when simultaneously it is a seller's market in the lower end.
If you're planning to sell, do your best to come to market for our secondary selling season, which typically starts in the second week in September but seems anecdotally to be starting now.