Boulder is Desperate for Inventory [Analyze This]
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).
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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.
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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.
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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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