Inventory Rises in Superior [Market Update]
by Osman Parvez
Time for an update on real estate market conditions in Superior, CO via House Einstein Research.
If you’re not a subscriber, sign up HERE. It’s the highest quality, most up to date research on Boulder area real estate available. No spam, no hand waving – just solid research.
What’s happening in Superior? Let’s take a look.
Like most other markets in Boulder County, inventory is in short supply in Superior. There were 23 homes on the market last month, up 53% from last year but still 39% below the long term average for February.
Inventory (and thus selection) typically peaks in May for Superior. Something for home buyers to keep in mind.
Only four houses closed last month – about the same as the previous few years. Small, low volume markets like Superior can have high volatility from month to month. That’s why it’s important to look at longer periods of time.
The chart above shows sales volume for the past twelve months, ending in February. 134 houses sold during this period, down nearly 16% from the same period a year earlier. Most of this slow down has occurred in 1Q14.
This chart shows inventory and sales volume compared to the long term average (for each month). At a glance, you can see that inventory has remained well below average for the past twelve months. Sales volume has been mixed with a spike occurring in December before falling sharply in January. Keep in mind that the winter has low sales volume in an otherwise low volume market.
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Inventory Rises in Superior [Market Update]
by Osman Parvez
Time for an update on real estate market conditions in Superior, CO via House Einstein Research.
If you’re not a subscriber, sign up HERE. It’s the highest quality, most up to date research on Boulder area real estate available. No spam, no hand waving – just solid research.
What’s happening in Superior? Let’s take a look.
Like most other markets in Boulder County, inventory is in short supply in Superior. There were 23 homes on the market last month, up 53% from last year but still 39% below the long term average for February.
Inventory (and thus selection) typically peaks in May for Superior. Something for home buyers to keep in mind.
Only four houses closed last month – about the same as the previous few years. Small, low volume markets like Superior can have high volatility from month to month. That’s why it’s important to look at longer periods of time.
The chart above shows sales volume for the past twelve months, ending in February. 134 houses sold during this period, down nearly 16% from the same period a year earlier. Most of this slow down has occurred in 1Q14.
This chart shows inventory and sales volume compared to the long term average (for each month). At a glance, you can see that inventory has remained well below average for the past twelve months. Sales volume has been mixed with a spike occurring in December before falling sharply in January. Keep in mind that the winter has low sales volume in an otherwise low volume market.
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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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