Boulder Real Estate Market Update July 2009

flatironsBoulder Real Estate has been holding on to a strong market, especially in the mid to lower price ranges. If you’ve tried to pick up one the smaller Martin Acres or Table Mesa houses that have come on the market in the $400k price range or lower, you know that you have to move fast to add one of those to your portfolio.

It’s been the higher end price range that has seen major volatility as sellers scramble to determine what the market will bear. On a recent outing with buyers, we found homes that had been in the $3 million to $4 million range drop prices several hundred thousand dollars to attract buyers.

Not quite ready for Boulder real estate? Maybe this  Louisville real estate for sale is more to your liking. This building lot near the coal creek trail and Louisville Community Park is a great opportunity to build your dream home if you’re not inclined to buy a pre-owned home.

Checking out these updates is another perfect way to watch on what’s going on in the real estate market in our area, and what we might expect in the coming months. I think we’ll see stability trends more that volatility trends as we move into the autumn and winter. Now, here’s the recent statistics:

Ready now to talk about selling your home, buying a new home, or know someone that is moving? Call, text, or email me today!

This could be an excellent time to make that move given the very stable marketplace we have in Boulder.

Boulder Sold Single Family Homes July 2009 :

Number Sold: 69

Total Homes For Sale (inventory): 601

Average Sales Price: $590,818

Median Sales Price: $520,000

Average Days On Market: 66

There’s almost a 30% drop in the number of homes sold for the 12 month period between 7/1/8 to 6/30/9 as compared to the period from 7/1/7 to 6/30/8. The average days to contract remained virtually the same when comparing these two 12 month periods at 67 days versus 68 days. Price change is up from the period between of 7/’07 to 6/30/’08 period to the follow year at a nominal 0.4%. There were two other areas that showed average increases in sales price: Broomfield, and surprisingly the Suburban Mountains. In terms of median sales price Broomfield, and Erie are up, while Boulder, Lafayette, Longmont, Louisville, Superior, and both the Suburban Mountains and Suburban Plains are down. Each one of these areas show sharp drops in the number of homes sold during this recent 12 month segment when compared to the previous 12 month segment.

Tells me it’s a great time to buy, and get a good price on local real estate. If you’re moving up, that is, thinking you need a larger house (which usually translates into more expensive), please understand that now is the best time to make this kind of move. Financially a slightly down market is the best time to do this. Many people miss this kind of opportunity.

Call, text, or email me and I’ll answer more of your questions and help clarify why this kind of market makes selling a smaller, less-expensive home to ‘trade up’ to a larger more expensive home works extremely well in a ‘down’ market.

Boulder Sold Condos July 2009 :

Number Sold: 99

Total Homes For Sale (inventory): 482

Average Price: $325,436

Median Price: $248,000

Average Days On Market: 96

While Boulder’s condo market is pretty flat, the Superior Colorado condo market is on the upswing. The average price for sold condos in the last 12 month period ending in July this year are up over 21% in Superior versus the previous 12 months. The change in the median price for this time period comparison is up 7.2%

Whether it’s vacant land for sale, neighborhood profiles, or Boulder county business profiles, I strive every day to give you the useful information and critical support you need to make an informed decision.

Call, Text, or Email me. I’m never too busy for your referrals, as a real estate professional intent on giving back to the community, my relationship-based approach is exactly what you’ve been looking for in a helpful Realtor, and I will listen to you.

So you may not be moving, but if you know someone who is, I’d love to hear from you. Call, Text, or Email me anytime.

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

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