Boulder house inventory rises 11.8%
Inventory of houses in Boulder is up 11.8%, year over year. The market is cooling. #realestate #Boulder A post shared by HouseEinstein (@house_einstein) on Sep 26, 2017 at 10:43am PDT ---- Want to get blog updates via email? Click HERE. Ready to buy or sell? Schedule an appointment or call 303.746.6896. You can also like our Facebook page or follow us on Twitter.As always, your referrals are deeply appreciated. -- 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 [...]
Inventory Rises 29% for Condos and Town Homes [Analyze This]
Market update: inventory of townhomes and condos are up 29% year over year. #Boulder #realestate A post shared by HouseEinstein (@house_einstein) on Sep 25, 2017 at 4:19pm PDT ---- Want to get blog updates via email? Click HERE. Ready to buy or sell? Schedule an appointment or call 303.746.6896. You can also like our Facebook page or follow us on Twitter.As always, your referrals are deeply appreciated. -- 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 [...]
Boulder Townhomes and Condos Under Contract Drops [Analyze This]
Attached dwellings under contract have fallen dramatically. #Boulder #realestate A post shared by HouseEinstein (@house_einstein) on Sep 25, 2017 at 4:17pm PDT ---- Want to get blog updates via email? Click HERE. Ready to buy or sell? Schedule an appointment or call 303.746.6896. You can also like our Facebook page or follow us on Twitter.As always, your referrals are deeply appreciated. -- 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 [...]
Inventory Under Contract Falls, Boulder Real Estate Market Cooling [Analyze This]
by Osman Parvez ---- The writing is on the wall. After years of high activity, the Boulder market is now showing clear signs of cooling. Median sale prices have once again dropped below asking. Inventory has risen 9.4%, year over year. Now, as we enter the summer market, the percentage of inventory under contract has fallen. These aren't alternative facts. Take a look at the following chart. The purple bars represent the percentage of inventory of single family houses under contract for the end of May and beginning of June from 2015 to 2017, in Boulder. As we [...]
A Deeper Analysis of Boulder Real Estate [Market Update]
by Osman Parvez ---- If you've been warming the bench on the sideline, hoping the Boulder real estate market falls apart, I've got bad news for you. Let's talk about market conditions. My blog post from yesterday is a good place to begin. Now, let's dig a little deeper with an analysis of inventory by price range. Remember: Intelligent real estate decisions are based on a deep understanding of market conditions. There is no substitute. The first two charts below (green bars) break out stand alone, single family house inventory. I cover town homes and condos (attached dwellings) further below. For [...]
Boulder Inventory and Condo Sales Up, House Sales Fall [Analyze This]
by Osman Parvez ---- Let's talk about market conditions. A couple of weeks ago, I analyzed the Boulder real estate market by comparing negotiated discounts, price per square foot, and sales volume. If you haven't read that post, click HERE. It shows a slight cooling in market activity, quarter over quarter. Data is available for April. Here's an update. Condo and town home sales show an 11.8% increase for April, year over year. House sales are down 9.2%. Monthly activity for a small market like Boulder is typically volatile, but this does continue and deepen the trend that I noted [...]
“Better Sell Now Before Prices Fall” – So Says the Realtor [Analyze This]
by Osman Parvez ---- At my Rotary meeting today, a club member mentioned that a Realtor told him house prices are down 2% in Boulder this year. I almost choked on my coffee. "Um...what are you seeing?" he asked. Great question. Let's look at the data to review the past and get out the old crystal ball to talk about the future. We're overdue for a market update. Boulder Market Conditions One of the problems for real estate buyers and sellers is a lack of market transparency. Public information is poor in quality and although presented nicely on [...]
How to Protest Your Boulder Property Tax Assessment
by Osman Parvez ---- Property tax assessments have arrived and many are shocked at their new home values. I even got a few phone calls over the weekend from clients looking for advice on how to protest. If you're a past or current client, don't hesitate to reach out to me. I'm happy to provide appropriate comparable sales and guidance. A few years ago, I asked the Boulder County tax assessor to present at the Boulder Real Estate Meetup. If you have some time, this video will help you understand your tax assessment and how to best protest the [...]
Sales in Bear Creek [Analyze This]
by Osman Parvez It's a rainy day in Boulder, a good time for analysis. One of the most important pieces of advice we give our clients, both sellers and buyers, is how to understand market conditions for their unique property (or property search criteria). Location is the starting point for the conversation. If you don't know the history of recent sales in the neighborhood, you're going in blind. Take a look at the table below. You're looking at sales since the beginning of the year for properties within the Bear Creek Elementary footprint. Why Bear Creek? Because its one [...]
Strategy by Price Range [Analyze This]
by Osman Parvez ---- For the last few days, I've been writing about inventory conditions in Boulder. It's time to wrap up the analysis. The following chart shows inventory of houses by price range in Boulder. It excludes attached dwellings like condos or town homes, multifamily property, and vacant lots. The source of data is both regional MLS systems, duplicates and other junk have been carefully removed. There is much more inventory between $500K and $900K, compared with price points between $900K and up to $2.0MM. Once again, it's a tale of two markets. The $2.0MM+ tranche is open ended, [...]
Boulder Inventory Stabilizes, Spring Outlook Positive [Analyze This]
by Osman Parvez ---- Continuing my inventory analysis from yesterday (see Boulder Entry Level Remains Strong, High End At Risk of Correction), the chart above shows total inventory (active, under contract, and pending) for the City of Boulder over the last three years. The blue line dots and trend line represent 2017. Orange represents 2016 and grey represents 2015. Inventory started off substantially higher at the beginning of this year. It is now in-line with the previous two years. Expect inventory to continue rising from now until mid summer. It typically peaks in June or July. Note: The source of [...]
Boulder Entry Level Remains Strong, High End At Risk of Correction [Analyze This]
by Osman Parvez ---- ---- So your Realtor say the market only goes up in Boulder? Guess again. At the most basic level, price is always a function of supply and demand. There is no escape from this law. Market strength depends on price range, location, property type, depth of market, and many other characteristics. As we approach the end of a real estate cycle, smart buyers focus on properties that are more likely to hold their value and sellers dump assets that are at risk of a price correction. Take a look at the chart below. It shows percentage [...]
Downtown, Uptown, Get the Low Down [Fresh Listings, Get ‘Em Hot]
When you're shopping for a home, time is always of the essence. Over 100 listings hit the real estate market in Boulder this week. I've analyzed them, culled the overpriced and bad locations, and identified the most compelling properties. The following are the very best homes on the market. A Note on Market Conditions Before you consider writing an offer, talk to your Realtor about market conditions. It varies dramatically by neighborhood, right down to the street level and property type. This year is not shaping up to be the same as last year. For example: while total inventory of houses [...]
Tantra Lake Holds Steady [Analyze This]
by Osman Parvez ---- With the future development of CU South in play, prices for condos at Tantra Lake have appeared to level out. A basic 2 bed, 2 bath closed this week for $425K. It was not remarkable, with average finishes and no views (listing detail). Will prices rise further this spring and summer? Talk to your real estate adviser. This is a good development to track for the impact of South Boulder CU campus. Here's the chart: note: Data for the chart above utilizes data from both IRES and REColorado. Comprehensive analysis requires a compilation of both [...]
The Coming Boulder Market Turn [Analyze This]
by Osman Parvez ---- My recent blog posts have emphasized end-of-season bargains that are now on the Boulder market (courtesy of overzealous sellers and brokers who use wishful thinking prices to attract clients). I've already helped several clients negotiate exceptional deals in the 4th Quarter by targeting stale, overpriced listings. I'm currently on the hunt for others (including investments for my own portfolio). What about next year? Should you keep your powder dry and hope for a correction? Should you sell now before the downturn begins? The answer depends on the characteristics of the property (price, location, property type) and your [...]
