Going Up…! 2nd Quarter Boulder County Real Estate Market Update

house going up jpg

The Housing Market is Taking Off!
With or without the use of balloons, the housing market across the country is going up dramatically this year and our area is no exception. We’re seeing significant price increases this year though the number of sales is not that much higher than last year because our inventory levels have been so low. Here are some simple stats to illustrate this.

Sale Prices – 2nd Quarter 2012 vs 2013
The chart below shows the increases in prices across the board in the County.

2012-2013 Change Median Sale Price
Boulder Up 18.5% $663,500
Broomfield Up 5.6% $342,000
Erie Up 4.6% $339,900
Lafayette Up 6.8% $399,000
Longmont Up 8.8% $260,000
Louisville Up 1.6% $391,000
Superior Up 21.5% $441,000
Mountains Up 8.2% $378,000
Plains Up 7.4% $529,000

Pretty amazing all around. Boulder and Superior have been crazy. We can attest to that, as we’ve been working with buyers in both locations who are trying to find homes. Multiple offers have been the rule.

house not for saleInventory Woes – starting to shift? Housing price increases have been driven by Low Inventory Levels. Inventory has been dropping steadily for several years in the wake of the housing bubble and bust. Inventory levels are still 17% lower than last year at this time…..However ……last month Inventory was 21% lower than the same time last year.

So, ever so slowly, but steadily, we’re starting to see more houses coming on the market. That’s what the market needs now to level off a bit. Looking into the crystal ball…..Most likely, we will see a steady increase in inventory, moderation in price increases and an increase in  the overall number of sales as more houses come on the market. Time will tell!

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About Tom & Beth White-O'Connor

We've lived in Boulder and the surrounding mountain area for over 23 years. We're Realtors at The White-O'Connor Team, Coldwell Banker Residential Boulder. Tom loves to write, play music, look at houses and find great house deals! Beth can fix anything and she loves house design and remodeling. Our house is a testament to her creativity. We have a daughter in San Diego who gets to ride horses for a living. Our two cats and the most amazing 16 year old dog in the world keep us company at home. Give us a call at 720-276-0826 or 720-366-6196 if we can help you Buy or Sell a home or find a great rental property. Best, Tom and Beth.
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