THE AGGREGATE MARKET:
Last week new listings decreased by 10 week over week, coming in at 115. Under contracts were slightly higher at 120 (for the second week in a row), creating a very balanced sell-through rate of 104%.
Last week there were only 37 price changes, 52 less than year-over-year 2019. In this respect, sellers are behaving more like optimistic spring sellers than typical summer sellers who want to get their homes sold. Sellers, hot buyer demand will not last forever. Houses priced at market value are selling quickly, where those priced higher than market value are not.
On the whole, inventory is low. A balanced market has 5-6 months of inventory, with below 5 months being a seller's market. We currently have 1.13 months of single family home inventory in Boulder County.
At face value, 1.13 months of inventory indicates a very tight seller's market. Looking more closely, the low market is extremely tight while the high luxury market remains a buyer's market (as it usually is in Boulder County).
Please note that this doesn't mean that your high luxury home won't sell well. Call me to talk further about this.