Let’s take a quick look at a few painless sales stats for this year. These numbers go through February 2012.
- Sales are up 25% over last year in Boulder city.
- Inventory (number of homes on the market) is down 20% in the county. In the Denver metro area it’s even more extreme, more like 40% less than last year.
- The median sale price so far this year has been $625,000 compared to $587,000 in the city of Boulder last year through February. Our median sale price last year was around $545,000 for the entire year, so January and February tend to be higher than average for the year. But even so, that’s a 6% increase over last year at this time.
Bottom line….the market is heating up, at least so far. Buyers are finding it hard to find good houses since there are so few on the market. The best houses are attracting mutliple offers. Last weekend we heard two different buyers at our open house tell us how they lost out on houses that were in a multiple offer situation.
So, for buyers it’s a challenge to find a house. There’s just not much out there. We have several buyers we’re looking for houses for and we just can’t find anything good, particularly at the entry level end of the market. For sellers, if you’ve been waiting for the market to shift or for a good time to list your home, this is it!