The houses are smiling in Boulder this Spring!
Homeowners are too, particularly those who have been listing their home for sale. The market is definitely looking up around here so far this year. While most of the rest of the country is still pretty flat with signs of some movement upward, here in Boulder, we are seeing a shift. Will it last? We’ll see, but here are some stats to show you how it’s going so far.
For detached homes in Boulder, comparing first quarter 2012 to first quarter 2011:
- Sales are up 35%
- Looking at different price levels, we see that sales are up across the board. They’re up 27% in the $300,000 to $500,000 and 57% in the $700-$900,000 price range!
- Median sale price is up 9% ($597,750 vs. $548,450 in 2011)
- Inventory (number of homes for sale) is really low, especially under $500,000. There would be many more sales in the lower price ranges if there were more homes available.
- 50% of the homes in the $400-$600,000 price range are under contract right now. That’s extremely high compared to the last few years.
The bottom line is that houses are selling more quickly and for more money this year than the last several years. As Realtors we’re seeing houses that are in great shape getting multiple offers. For instance, we listed a really nice house a few weeks ago and had it under contract in 5 days and had a backup offer to boot. This is a common theme these days. These days buyers have to act quickly to get the house they want or somebody else gets there first.