Boulder Condo Sales SPIKE, Inventory STILL High [Analyze This]
The shaded area in the chart above represents the 3 year average, per month. The yellow line is the most current data. The error bars represent 1 standard deviation. After the Covid lock down lifted, new listings spiked in May and the usual peak in new listings was pushed back by a month. Last month, new listings were nearly 24.9% above the 3 year average but down 4.3 % year over year. Total inventory of town homes and condos in Boulder has been elevated for some time. In certain price ranges and locations, there is very little market activity. Meanwhile, [...]
Chillin’ in the Deep End [Fresh Listings, Get ‘Em Hot]
If you want to make an intelligent real estate decision, prepare for a dive deep into market analysis. There are no short-cuts. As of this writing, 52.4% of all houses in Boulder County and 44.4% of condos and town homes, respectively, are under contract. This is a shocking percentage and a phenomenal market for sellers. But remember: conditions vary by location, property type, and price level. What's happening? Anecdotally, we're seeing a flight from high-density, urban areas to lower density, suburban areas. Interest rates are also at all-time lows. Those that can make the jump are making the jump. [...]
How’s the Boulder Real Estate Market, Osman? [Analyze This]
The Boulder real estate market continues to rebound from the Covid-19 lock downs of two months ago. At House Einstein, we've been working with a record number of buyers and sellers. We appreciate your patience as new content has slowed. We're not apologizing. Clients come first. Our advice to our buyers and sellers is based on a detailed analysis of up to date real estate market conditions, similar to what you'll see below, but for their specific property, right down to the street level. Remember: intelligent real estate decisions are based on deep market knowledge. There are no short-cuts. Let's [...]
Bidding War Breakdown [Analyze This]
Phew! The second quarter started like a lamb and ended like a lion. Did every listing get a bidding war? No. Not even close. Check out the video below for a detailed analysis of sales activity in Boulder during and after the Covid lockdown, including a close look at the premiums buyers paid during the quarter. Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005. Osman is the primary author of [...]
So… What’s a Boulder Bungalow Really Worth?
This week, several clients messaged us about a property making the rounds in social media. Is a tiny bungalow in Boulder really worth more than $650K? In addition to our usual review of the most interesting new listings to hit the market, we did a deep dive into analyzing the value of this property in the Goss Grove neighborhood. Ready for this week's Fresh Listings? Due to the rules that regulate the real estate industry, we can only share it with you via a private newsletter format. Subscribe at the link above for instant access. Let's go.. Osman Parvez is the [...]
Boulder vs. Denver Condo Market [Analyze This]
How have the Boulder and Denver condo markets been responding to the Covid epidemic? About as you'd expect. Note: If you've been tracking our socials (FB, Twitter, Instagram), you've seen the following charts. The graph above shows inventory for condos and town homes in Boulder. The yellow line is the most recent data, for the last twelve months (LTM). The blue shaded area is the average for the preceding three years, per month. As you can see, inventory in Boulder has been above average for the entirety of the past twelve months. Now let's look at Denver. Like Boulder, inventory [...]
Are Boulder Sellers Capitulating? Guess Again. [Analyze This]
The Boulder real estate market has been doing some very interesting things. On one end of the market, bidding wars are breaking out for homes. Anecdotally, we're even seeing buyers from Denver jumping into these bidding wars as they seek to escape lock downs in dense cities like Louisville. On the other end of the market, there is a growing pile-up of luxury homes that are sitting without takers. The chart above is a snapshot of the market on May 26, 2020. It shows inventory under contract, by price range, for single family homes in Boulder (excluding Gunbarrel). Notice how [...]
No Showings Until Further Notice? [Latest update from CAR]
Here's an update on what's happening with real estate and Coronavirus shut-downs in Colorado. 1. Appraisals and closings are critical services. 2. Home inspections and final walk-throughs are allowed, once there is a contract in place. 3. In-person showings and open houses are not essential services, these activities violate public health orders. 4. Activities that encourage non-essential travel or asking residents to leave their homes for showings increases public exposure. Is there a work-around? How long will this continue? If you're thinking about buying or selling a home in Colorado, seek competent advice from your professional Realtor. Osman Parvez is the [...]
Is Boulder Real Estate Headed for a Fall? [Analyze This]
Believe it or not, Governor Polis declared a state of emergency in Colorado almost a month ago. Should I still wait to list my home for sale? Will there be buying opportunities ahead? These are the types of questions we are receiving from our clients every day. Unlike the stock market, the real estate market tends to react slowly to changing conditions. This inefficiency creates opportunity, for buyers who understand the market and have the patience to wait, or for sellers who see what's coming and want to get ahead of the trend. Either way, it's important to have a [...]
Is it Really Open Space? Guess Again [Notable Sales]
"Look at that beautiful open space" - your Realtor For today's Notable Sale, let's take a look at 455 Erie Drive. 455 Erie Drive | $1.15M We saw this six bedroom, four bath, two-story home in Frasier Meadows as soon as it hit the market. Featuring about 3,800 F. SQFT, it sits on a large lot, and with some landscaping work, has a potential view corridor to the Flatirons. Although the home had some weird features (tiny Rapunzel balconies off each bedroom, for example), it was painfully dated and hadn't been updated in decades. A close look revealed it had [...]
How Quickly The World Has Changed [Denver Market Analysis]
This morning, the Denver Post published an interesting article about the changes happening in Colorado's real estate market caused by the Covid19 epidemic. The sensational headline was about the number of listings that have been withdrawn during the past two weeks, based on an analysis from the Denver Metro Association of Realtors for 11 counties. The article states that hundreds of listings have been withdrawn from the market, but ignores the surprisingly high absorption rate during the past two weeks. Yesterday, we analyzed the Boulder market by price range. The conclusion was that certain price ranges are still seeing high absorption rates. [...]
What Happened to New Listings Last Month? [Video]
Is the market dead? Far from it. It's not even mostly dead. Surprise! Activity at the lower end of the market remained robust during the past two weeks. Here's the analysis... Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005. 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 [...]
Boulder Market Update – April 1, 2020 [Analyze This]
Updates: 1. I know it's April Fools Day, but I don't have any jokes. If you're looking for a laugh, check out Nick Heath's #lifecommentary and Pub Quizes. He is hilarious. 2. You'll find a preliminary Boulder real estate market update in this Twitter thread. In short, closings were up for condos and town homes in March, down for stand alone houses. As we move into April, about 30% of inventory in Boulder is under contract.There were a bunch of broken deals (i.e. back on market) during the last two weeks of March, but it's unclear if it was more than [...]
Bungalow or Pied-à-terre? Covidopportunities [Fresh Listings, Get ‘Em Hot]
As everyone knows, the Chinese word for Crisis is composed of two words; danger and opportunity. This week, we talk about some potential opportunities currently on the Boulder real estate market. If you're a subscriber, check your inbox for our review of the best listings to hit the Boulder real estate market, this week. Why subscribe? Because we can't tell you what we really think about listings unless we do so privately. Learn more and subscribe, HERE. This week, I reviewed the following nine properties in detail: 1755 Deer Valley Rd 842 16th Street 2007 Columbine Ave 4128 Clifton Court [...]
Boulder Market Update – March 23, 2020 [Analyze This]
Osman Parvez is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005. 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. For more information, click HERE. Fresh Listings | Our review of the most compelling new listings to hit the [...]
