Louisville Market Update [Analyze This]
by Osman Parvez ---- As you can see from the chart above, the market is slowing in line with the normal seasonal cycle. 60 houses are on the market in Louisville, up about 20% from last year. Most of the increase is due to new construction in Markel's North End. About half of Louisville's inventory is currently under contract, which translates to 2 months of supply. 6 months is what many analysts consider a "balanced market." The pace of sales is what you'd expect, as 24 properties closed in the last 30 days, up slightly from last year. Note: About 2/3 of the available [...]
Boulder Real Estate Enters Autumn Strong (But It’s Still Bargain Season).
by Osman Parvez ---- Are you ready for another update on real estate conditions in Boulder? Let's take a look at inventory. The chart above shows total inventory for stand alone houses (blue) and attached dwellings (red) within the City of Boulder. The typical seasonal pattern is present, with inventory having reached its peak towards the end of summer. Total inventory trended slightly higher for houses this year and somewhat lower for condos and townhomes. This chart shows the breakdown between available houses (dark blue) and those under contract (light blue). Although a fair portion of under contract deals terminate [...]
Boulder Real Estate Bargain Shopping? The Time is Now [Inventory Analysis]
by Osman Parvez ---- I just completed my inventory update for the week. The Boulder real estate market is doing interesting things, but there were no big surprises. Let's look at the data. Note: The analysis below is for detached houses in the City of Boulder. If you're looking for an analysis of market conditions for condos or townhomes, call me. If you want to see market conditions for specific properties or neighborhoods in Longmont, Lafayette, Niwot, Superior, or other areas in Boulder - again, call me. Contact information is at the bottom of the post. The orange line in [...]
Investing in Longmont? Consider the Strategic Risks and Rewards
by Osman Parvez ---- Longmont is the place to be. Downtown is booming and more trendy restaurants, breweries, art galleries, and boutique retailers are opening by the day. Longmont has beautiful family friendly community spaces and multi-use paths. It also has fewer transient issues and noticeably fewer tourists than Boulder. In short, it's attractive and affordable. From the southwest corner of town, it's only about a fifteen minute drive to Google's new campus. It's also about to get much better in the future. As House Einstein's business continues to expand throughout Boulder County, I find myself increasingly advising investment [...]
The Market’s Peaked. Now What? [Analyze This]
by Osman Parvez ---- I've heard the question from buyers. I've heard it from potential sellers. Has the Boulder real estate market peaked? Is now a good time to buy (or sell)? I prefer to let data answer the question. No hand waving. No Realtor happy talk. Remember: Intelligent real estate decisions are based on a deep understanding of market conditions. ---- Inventory, Absorption, and Sales Volume This morning, I analyzed the most recent market data for Boulder real estate. Let's take a look at the numbers. The chart above shows total inventory of houses in the [...]
On High Plateaus and Soft Landings
by Osman Parvez ---- What is a “high plateau” and what does it mean for the Denver housing market? from Sunday's Denver Post is generating interesting online discussions. Let's take a closer look. “As long as we have economic growth, we will likely bump along a plateau both in terms of price and volume,” said Mark Boud, chief economist at Real Estate Economics [snip]. Boud predicts a three-year run of double-digit gains in metro-Denver home prices will come to an end in the second half of the year, ushering in a long stretch of meager price increases and then small [...]
What RE/MAX Isn’t Telling You [Analyze This]
by Osman Parvez ---- It's nice to see data analysis on Boulder real estate conditions in the Daily Camera. Here's what Re/Max and DB aren't telling you: Sales volume for all residential real estate in Boulder during the 2nd quarter fell 14.7% from the year before. How's that possible? Let's roll up our analytical sleeves and take a closer look. It's time for a market update. Take a look at the chart below. Limited inventory continues to drive prices. Inventory of attached dwellings (i.e. town homes, condos, and duplexes) has fallen almost 10% this year. It's 46% below [...]
Boulder Real Estate $1MM+ Market Analysis
by Osman Parvez ---- Contrary to popular belief, the high end of the Boulder real estate market is not driven by a scarcity of inventory and bidding wars. Here's the research note on 1Q16 sales we sent to our clients a few months ago. Buying or selling real estate in Boulder? Call us. We provide professional advice based on a deep understanding of real estate conditions. If your Realtor wants you to pay over asking but can't provide actionable market analytics, get a better Realtor. ---- Want to get blog updates via email? Click HERE. Ready to [...]
Boulder Town Home and Condo Inventory Analysis [Market Update]
by Osman Parvez ---- Available inventory of attached dwellings has more than doubled since the end of March, but remains low by historical standards. The number of under contract properties has increased by 85.5% for the same time period. 61% of inventory is currently under contract. ---- 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 [...]
Boulder Inventory up 32%, Absorption Drops [Analyze This]
by Osman Parvez ---- Boulder house inventory is up 32% since the end of March. Pending and under contract are up 18.2%. Peak absorption this year was reached in the middle of May. Read Summer is Over for more details. ---- 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 [...]
For Boulder Real Estate, Summer is OVER [Analyze This]
by Osman Parvez ---- Summer officially began last week, but it looks like it's already peaked for the Boulder real estate market. Remember, intelligent real estate decisions are based on a deep understanding of market conditions. Let's take a look at inventory in Boulder. The chart above shows the number of detached, single family houses on the market in the City of Boulder over the past year. The blue line represents available inventory, not under contract. The orange line is property that is currently under contract or about to go under contract with a buyer (active/backup or pending, for [...]
Boulder and the L’s [Inventory Analysis]
by Osman Parvez ---- Smart house buyers and sellers adjust strategy to market conditions. The chart above shows the annual change (year over year) in total house inventory and inventory under contract for Boulder and the L's (Louisville, Lafayette, and Longmont). The L's show the pattern you'd expect - when supply drops, percent under contract (a.k.a. absorption) increases. Louisville inventory is up 8.9% and homes under contract fell 9.0%. Lafayette inventory dropped 7.1% and houses under contract increased by 2.0%. Longmont inventory dropped 4.5% and houses under contract increased 8.0%. Boulder is the anomaly. Total inventory is up [...]
Boulder High-End Sales Analysis [Caution Flag]
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 [...]
Boulder House Inventory UP 20%, Condos DOWN 33% [Analyze This]
by Osman Parvez ---- Time for a quick market update. Here's our latest inventory analysis for Boulder real estate markets compared to last year. Total inventory of attached dwellings (AD) in the City of Boulder is 33% lower. Boulder and Superior are both showing substantially higher inventory, while percentage under contract is mixed. As Boulder County's largest real estate market, Longmont is the big story. It's a bastion of affordability and an important barometer of market conditions. In Longmont, inventory is 7% below last year while the percentage under contract has climbed markedly. Data for smaller markets like Louisville [...]
Boulder vs Longmont [Analyze This]
by Osman Parvez ---- Think market conditions are better in Longmont? Better get the facts. Houses under contract (as a percentage of total inventory) is far higher in Longmont than Boulder. As of this writing, 72% of all houses on the market in Longmont are under contract compared with 55% in Boulder. Longmont also has 37% more inventory than Boulder, despite being a slightly smaller city. Sellers: The take home message remains the same. Do not rely on your Realtor's bravado when in comes to marketing and negotiation strategy. A comprehensive analysis of comparable sales and inside knowledge of negotiations is [...]
