Boulder Real Estate Market Summary

You might wonder what’s going on in the Boulder real estate market these days with all the talk about the national drop in prices. Most of us that live in the area know that prices aren’t dropping in Boulder. Actually, one of the topics of conversation lately is how common it is anymore to find homes over the $1,000,000 price.

I researched the data again Saturday and you might be surprised to learn that of the 441 homes for sale this past weekend in Boulder, over 100 of them exceed the $1,000,000 price tag. That doesn’t mean that there aren’t homes around $350k or so but…

Of the approximately 340 homes for sale under $1 million, the prices spread all the way from $285,000 up to $999,900 with an average price of about $615,000. Keep in mind that this is asking price, not sold statistics, but it’s still an indicator of the market. With the average days on the market for these homes of only 77 days, it looks like the numbers reflect some reasonably market-wise prices.

Worth noting is that of those 340 for sale, about 110 of them are already under contract with a buyer and due to close the transaction soon. Of those, the average price is about $650,000 and those have still only been on the market an average of about 78 days.

If you think sold statistics are where it’s at, here’s a brief run down on last month. 55 homes sold in May for an average price of about $570,000. Those homes were on the market for an average of about 92 days and the sold prices still run a full spectrum with a low of about $283,000 for a 3 bedroom 1 bath, 980 square foot ranch on Moorhead to a high price of about $989,000 for a 3800 square foot home, built in 1988, just north of Baseline on 16th near the Chautauqua area.

Comments

One Response to “Boulder Real Estate Market Summary”

  1. jocko on June 9th, 2008 3:05 am

    55 homes sold in May? Ouch. According to my data that’s a 50 percent drop in volume from last May. Prices can’t be far behind, especially as the prime selling season is fixing to come to an end in a couple weeks here. ooof.

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