Boulder Real Estate June 2009 Market Update

I thought I’d get you the Boulder real estate market update early this time. I figured since we’re just into July, sales should be recorded by now in our system, and I know a couple of you have been asking for the data.

If you’re looking at Boulder county forecasts and trends, checking out these market updates is a great way to get a handle on what’s going on, and what we might expect in the coming months.

As usual, the data also includes 2008 numbers for comparison.

Ready now to talk about selling your home, buying a new home, or know someone that is moving? This could be an excellent time to make that move given the very stable marketplace we have in Boulder.

Call, text, or email me today!

Boulder Sold Single Family Homes (parenthetic data is 2008):

Number Sold: 71 (98)

Average Price: $625,418  (629,805)

Median Price: $545,000 (525,000)

Average Days On Market: 96 (75)

While sales were pretty evenly spread across the Boulder area, I did notice  some gaps geographically. Very little to no activity in the neighborhoods just north of Iris Ave., just a couple of sales in the Gunbarrel area, and very light to no activity in the Southern Uni Hill and Grant Neighborhoods.

The most significant ongoing points are that we still keep seeing the total number of homes sold down from previous years, and yet, the prices staying relatively the same for sold home. Average price a touch down compared to June 2008, but median price of sold homes up a bit.

I’d say single family homes in Boulder are holding their own value-wise. What do you think?

Boulder Sold Condos (parenthetic data is 2008):

Number Sold: 86 (89)

Average Price: $277,474 (269,156)

Median Price: $251,000 (255,000)

Average Days On Market: 154 (103)

Interesting development here, the number of units sold is almost the same as last year. Is the condo market ticking upwards? Prices seem stable with the average sold price slightly up, and the median down just a touch, but look at the average days on the market.

It’s taking a little long to get condos sold (about 50% longer, right?), and with over 500 condos for sale in Boulder, it’s not a seller’s market by any stretch of the imagination, but prices are pretty stable compared to last year and a 5 to 6 month absorption rate seems pretty even/flat. Pretty darn good compared to most of the rest of the nation.

I think if you take the time to prep well prior to entering the market and price it right, you can beat the odds and sell in less than the 154 DOM average we saw in June. But isn’t that true in any market? It’s the ‘dogs’ that bring down the numbers and skew the averages.

Thinking of buying or selling? Call, Text, or Email me.

And by the way, I’m never too busy for your referrals, my relationship-based business depends on it. So you may not be moving, but if you know someone who is, I’d love to hear from you.

Zachary Epps, full-time professional Realtor® and EcoBroker® at RE/MAX Alliance Boulder

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