Boulder Condos Also in Short Supply [Analyze This]
by Osman Parvez
On Tuesday, I posted an update on market conditions for traditional homes in Boulder (link). Now let’s look at the market for town homes and condos (i.e. attached dwellings).
Inventory
Just as with traditional single family homes, there’s a shortage of condos and town homes in Boulder – and it’s getting worse. The spring market has even less inventory than last year. As of this writing, only 187 properties are on the MLS – about 17% below last year. 111 of those units or 59% of inventory is available for purchase (not under contract).
Sales Volume
Despite scarce inventory, at least 48 units sold last month, about 30% more than last year.
Absorption
Absorption is simply sales volume as a percentage of the previous month’s inventory, a measure of liquidity. It reached 33% last month, more than 3x the long term average for February.
Economics 101
Low supply + high demand = higher future prices. Are you standing by and watching it happen? Maybe it’s time to get off the sidelines…
—
Welcome to House Einstein
Locations, Due Diligence, Negotiation
Testimonials
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.
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.
Related Posts
Share This Listing!
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.
Work with
House Einstein
Thinking about buying or selling and want professional advice?
Call us at 303.746.6896
Your referrals are deeply appreciated.
