House Einstein Office Nears Completion + Market Update
by Osman Parvez ---- Business Update Our new office is almost ready to open. "Coffee is for Closers" - Marley Late last summer, we began remodeling the new office. The process has been slower than expected, due to limited contractor availability and lengthy lead times for furnishings. The labor shortage is real, people. Thankfully, the end is nigh! Last week, we had a soft open and have already held several business meetings in the space. When the rest of the furniture arrives and the signage is complete, we'll host a grand opening. Look for it in early to mid November. [...]
The Incredible Shrinking Louisville Real Estate Market [Market Update]
by Osman Parvez ---- Smart real estate decisions are based on accurate and timely market information. Don't have it? You're negotiating blind. We've been closely tracking the real estate market in Louisville, CO for the past twelve years. Some of our data analysis goes back nearly 20 years, including a regression analysis showing appreciation rates. Here's our latest analysis: As of this writing, total inventory in Louisville stands at 50 houses, less than half the long term average for the month of May. Inventory continues to grow in more or less the normal seasonal pattern. If the pattern holds, it [...]
Available Inventory Finally Rises, but Not for Town Homes or Condos [Analyze This]
by Osman Parvez ---- Intelligent real estate decisions are based on an in-depth understanding of market conditions. Does it feel like you're flying blind? Get a better real estate adviser. Time for an inventory update. The following is a broad analysis of the Boulder real estate market. If you're thinking about buying or selling (and you're not under and exclusive agreement with one of our competitors) call us to discuss market conditions relative to your price range, property type, and location. Ph: 303.746.6896. Total inventory continues to climb. 197 houses (blue) and 154 condos and town homes (orange) [...]
Bidding Wars: $200,000 Give or Take [Negotiation]
by Osman Parvez ---- Preliminary real estate market data for April shows 127 sales in the City of Boulder. The vast majority sold for asking or more. The deepest discount was 14.1% less than asking. The biggest premium was 17.9% more than asking. Talk about a spread. Selling or buying? Your choice of Realtor can't be more critical. One Boulder buyer paid $200,000 more than asking last month (1526 Sunset). Another paid $210,000 less than asking (300 Evergreen). Both properties are in the same price range. There is no shortcut to understanding market [...]
Last Week in Boulder Real Estate, By the Numbers [Analyze This]
by Osman Parvez ---- Last week in Boulder real estate. More analysis upcoming in this month's research report. Sign up below! ---- Like this analysis? Subscribe to our client research report. 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 [...]
End of Summer Boulder Market Wrap Up [Analyze This]
by Osman Parvez Ready for another look at market conditions in Boulder? Straight to the charts... This chart shows total inventory for houses (blue) and condos and town Homes (orange). Total inventory (which includes pending, active/backup, and active listings) has been dropping from late June through Labor Day. There are now 25% fewer houses on the market. Condos and town homes have fallen 33%. If you're a regular blog reader, you know that this seasonal pattern is normal for Boulder. Inventory grows in January and peaks in June before reaching a bottom in December. What's [...]
MORE Bad Data (Inventory in Boulder and Louisville)
by Osman Parvez Time for a quick look at inventory in Boulder and Louisville. First a couple of details. I'll explain why these distinctions are important in a moment. Available inventory = all property not under contract + property with a first right of refusal. The vast majority of first right properties will not sell to the party who retains that right of purchase, so I'm treating it as available (and so should you). Under contract = property that is under contract with a buyer (i.e. listed as active/backup) + pending status listings. Pending usually means the property [...]
Boulder Real Estate Sizzles and It’s Not Even Summer [Market Update]
by Osman Parvez Here's a quick glance at market conditions for the City of Boulder. The following charts show absorption for traditional single family houses and for condos and town homes (attached dwellings). Absorption is simply sales volume expressed as a percentage of the preceding month's inventory - a measure of liquidity. The chart above is for single family houses. Absorption spiked to 38.4%, a 10+ year high. This is slightly more than 2x the long term average for the month of April. This next chart is for town homes and condos (attached dwellings). [...]
Boulder Market Slows, House Sales Drop 26% [Analysis]
by Osman Parvez Here's something no other Boulder Realtor will tell you. The Boulder market slowed during the 4th quarter of last year and dramatically hit the brakes during the 1st quarter of 2014. Take a look at the following chart. You're looking at the change in sales volume during the quarter vs. same period a year earlier for the City of Boulder. For houses, sales volume dropped 5% during 4Q13 and then fell a whopping 26% during 1Q14. For condos, the drop was less severe. Volume fell 9% in 4Q13 and then 7% during 1Q14. [...]
Market Conditions in Louisville, CO [Analyze This]
by Osman Parvez It's time for an update on real estate market conditions in Louisville, CO. The following analysis is based on data through the end of February, 2014. To receive my regular research report, subscribe to House Einstein research. Click HERE. INVENTORY As with other parts of Boulder County, the big story remains the inventory shortage. Only 20 houses were on the market in Louisville last month, down 47% from the same period a year ago. SALES VOLUME 10 homes sold during the month of February, 11% more than last year. In a small market [...]
The Annual Report on Boulder Real Estate [Analyze This]
by Osman Parvez I just slapped a shiny ribbon on House Einstein's latest research. It's the annual report on Boulder Real Estate. Didn't get a copy? It's easy to sign up. Just click HERE. House Einstein's annual report covers Boulder, Lafayette, Longmont, Superior, and Louisville real estate markets. The analysis includes days on market, inventory, sales volume, pricing, and more. You won't find this unique research anywhere else. it's the most up to date and detailed information on real estate conditions available, period. As Muhammed Ali once said, "It's not [...]
Last Month’s Research [Get it Cold]
by Osman Parvez For those of you who aren't subscribed to my research reports, here's a look at what you're missing. You can download a few older reports from last year by clicking the links below. Enjoy! November's House Einstein Research Report (link) with Sales Data (link) December's House Einstein Data (link) and monthly sales sheet (link) --- Like this analysis? Subscribe to my research. Want to meet me in person? Attend a Boulder Real Estate Meetup. Ready to buy or sell? Call me at 303.746.6896.
Boulder Market Update – by the Numbers [Fresh Listings]
by Osman Parvez Time for a quick update on market conditions - by the numbers style. Thirty five listings have hit the MLS since January 1st in Boulder. Here's how it breaks out: Think the market has slowed? Guess again. 14% of listings since January 1 are already under contract (19% if you remove refreshed listings). Check out the average days to offer. Keep in mind that most agents are a little slow to update the MLS, which means the reported average days to offer should be considered conservative. The real number is likely lower. [...]
How’s the Market in Lafayette, CO? [Analyze This]
by Osman Parvez Here's an update on market conditions in Lafayette. I'll dedicate this one to my friend Lucas, who recently started searching for the right house. This research, plus a whole lot more, is also in the latest House Einstein Report. Sign up HERE. Here's a fun fact about Lafayette. Mary and Lafayette Miller, the town's first residents, only lived on their homestead for three years before moving to Boulder. It was after Lafayette Miller died that Mary moved back to the family farm. Six years later, coal was discovered and a decade after that, Mary [...]
A Detailed Analysis of Real Estate in Louisville, CO [Market Update]
by Osman Parvez Think the Boulder real estate market is intense? Check out Louisville. Note: This analysis is an overview of market conditions in Louisville, CO. If you're buying or selling, it's important to understand the market relative to your specific price range, property type, and location. Make a smarter real estate decision. Call me to schedule a confidential discussion on your unique situation. ph: 303.746.6896 My previous analysis was in March. Here's an update. Louisville continues to experience strong sales volume despite record low inventory. Last summer, I helped buyers compete in frenzied bidding wars and win [...]
