Boulder Condo and Town House Market Update
by Osman Parvez
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From the current research report, here’s a look at real estate conditions for condos and town homes in Boulder. The following is an analysis through the end of December, focusing on sales volume and inventory levels.
If you’re looking for information on price trends (median price, $/SQFT) or days on market, give us a call at 303.746.6896. We provide our clients with unique insight into market conditions specific to their situation. We can help you make a smarter real estate decision.
Inventory – as the chart above shows, inventory levels during most of 2008 tracked below prior years. December finished out with inventory of 343 units, down 7% from the prior year.
Sales volume – there was a bit of an up-tick from November’s poor performance. 34 properties sold, an increase of 89% from November but down 31% year over year. 681 properties sold through the 12 months of 2008, a decrease of 11% from the prior year.
Sales to inventory – this is a measure of absorption. It registered 8.8% in December, down slightly from prior years. Through most of the year, this ratio was generally inline with prior years, an indicator that the market is not in deep distress. The last few months however have not been as rosy.
This last chart is a look at how the market compares to the average of the prior four years. Inventory was 4% below and sales volume was a whopping 27% below. Clearly the last several months have been a very difficult time for sellers of real estate. Meanwhile for buyers, the market is looking ripe with inventory set for its seasonal rise into the spring selling season. Sellers thinking about listing their property this Spring should be prepared for tougher market conditions, taking care to properly market their properties and set the list price only after a careful analysis of the competition.
To get the most out of current market conditions, choose an agent who knows the state of the market and will work hard to help you get the most out of your situation. Although the overall market is soft, there are pockets that are quite healthy. Whether you are buying or selling, analyzing the market relative to your situation will help you make a smarter real estate decision. If you’d like to learn how we can help you, call us at 303.746.6896.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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Osman was a refreshingly honest realtor. He stressed through the entire process that his goal was to make me happy with my home purchase. I greatly appreciated the fact that he never shied away from pointing out the negatives as well as the pluses of different places while leaving the final decision up to me.
We can highly recommend Sophie. Her attention to detail and communication skills are great. Our home was in area that most realtors are not familiar with, but Sophie took extra time to get to know the neighborhood in order to give us quality service. She also brought in a professional photographer to make our home look its best. Even though the listing was in winter, the house sold quickly. With Sophie’s business and people skills, we have no doubt she will be a top realtor in the area.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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