by Osman Parvez


2014 saw a massive increase in high end home sales in Boulder.  


Here’s the chart you won’t find anywhere else: 

   


Within the City of Boulder, 161 $1MM+ houses closed this year – up a massive 24%. This follows a 25% increase from the previous year.    


Note: I’m talking about “houses.” $1MM+ condos and town homes saw a 37% decrease in sales volume this year, most likely driven by scarce inventory. 




Caution Signs Are Flashing


With the stock market recording large gains this year, it’s tempting to reallocate and deploy capital in Boulder real estate.  


Be cautious.   


My long term blog readers (and clients) know the Boulder market saw a similar pattern during the 2002-2006 market upswing. When that real estate cycle peaked, the high end saw the sharpest price declines. It was brutal. At one point, over 2 years of high end inventory sat stagnant on the market. Certain locations and property types saw the most bloodshed, including several 40% off fire sales. Other properties survived the storm without dropping much at all.   Why? Because they were in proven locations and desirable to a wide array of potential buyers. 


My recommendation? If you’re shopping in this market, get the best advice you can find. Choose your real estate adviser carefully. Here’s my bio if you’re shopping agents. I’d love to help you make a smarter real estate decision. 

Happy New Year!

note:  This is preliminary data.  A few more sales may trickle in as the MLS is updated for end of year.  It should only revise upward. 

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