The Last Surge of Summer? [Analyze This]
by Osman Parvez
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Ready for an update on inventory in Boulder for attached dwellings (i.e. town homes and condos)? Here we go.
As of this morning (August 13th), total inventory has dropped to 157 units. This is up 10 from a week ago but down substantially from the seasonal peak in mid June. Meanwhile percentage of inventory under contract has increased to 71%, up from the recent low of 63% in mid July.
What to make of these tea leaves?
It’s unusual for inventory under contract to increase after August. The majority of buyers have found their properties and closed. In Boulder, a large percentage of attached dwelling purchases are driven by the academic calendar and school starts in a short while.
It’s possible that we’re seeing the last surge of the summer market, driven by buyer desperation (inventory remains at 20+ year lows) and a desire to lock in low mortgage costs before the coming rate increases.
If you’re waiting on the sidelines for the usual late 3Q and 4Q bargain hunting, you might have to wait a little longer.
Note: This analysis is for attached dwellings in the City of Boulder only. If you’re shopping for detached, single family houses, or considering other markets like Louisville, Lafayette, Longmont, Broomfield, Superior, or Erie – call us. This analysis doesn’t apply. ph: 303.746.6896
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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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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