by Osman Parvez


We’re still about a week from the official data release for February.  Let’s take a look at the preliminary numbers for Boulder Real Estate.   The following analysis is for single family detached homes (i.e. no condos or town homes).    
For an in-depth analysis of Boulder real estate, sign up for House Einstein Research HERE.  My next report is coming soon. 


Sales Volume

42 houses sold in Boulder last month, about the same as the previous year.   Over the last six months, 334 sales have occurred – an increase of 5%.    

Inventory

Inventory remains excruciatingly low.   Only 166 single family houses are currently on market of which 95 are actually available (not under contract).    Inventory is more than 30% lower than last year at this time.   As the season picks up, more sellers will come to market but don’t expect a big flood.   Ultra low inventory appears to be the new reality, note the 3+ year trend shown in the chart above. 




Absorption

No surprise, strong sales and low inventory translate to high absorption.   The preliminary number is 30% for February, well above the long term average high for the year (which typically occurs in June).  


Strategy

Ultra low inventory and rising sales volume translates to a strong seller’s market.  For buyers – I’m pulling out all the stops, writing backup offers, and beating the streets for inventory.  Listing alerts are set on instantaneous and I’m dropping everything for showings.   For sellers, I recommend pricing at the top end of my valuation analysis and testing the market.   I also recommend pre-negotiating anticipated low appraisals.   In a bidding war, this favors buyers putting down more than 20%. 


If you’re thinking about buying or selling Boulder real estate, call me.  I can help you get the most from current market conditions and make a smarter decision.  ph: 303.746.6896.