by Osman Parvez
—-

No, the market is not scorching hot for all property types and locations in Boulder. Your agent says otherwise? Find a better Realtor.  

For the past several years, we’ve advised our clients to be cautious and conservative before jumping into a bidding war for high-end properties. The data supports our advice. Here’s the latest stats: During 1Q16, only 26% of real estate transactions above $1MM closed for more than asking. The majority sold for asking or less. 


Take a look at the chart below. 

It’s shocking how many agents waive their hands around and pretend it’s a hot market for any and all properties in Boulder. The data tells a different tale. While the market remains active, the majority of high-end properties are not getting a premium over asking. The chart above is what a balanced market looks like. 


As of this writing, there are 130 homes on the market with asking prices of $1MM+. 43% of these homes are under contract. During the 1Q16, which is normally a slow time of year, the total sales volume for $1MM+ homes in Boulder was 38 transactions. More than two thirds of these deals closed within 60 days of listing, a typical time frame.   

Intelligent real estate decisions are based on a deep understanding of market conditions. There is no substitute. 

—-