Boulder Real Estate Sales May Update

I have for you here, the Boulder real estate market data for homes sold in May 2009. If you’re looking at economic forecasts, or watching trends, one of the best ways to read what the market is doing is to watch real estate sales.

The data in this post also includes what it looked like in May 2008 for comparison. I’ve added a few of my comments. While I tend to be an optimistic guy, and am generally looking for the silver lining on every cloud, there is definitely some interesting info here.

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 relatively stable marketplace we have in Boulder.

Call, text, or email me today!

Here’s your Boulder Data:

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

Number Sold: 43 (79)

Average Price: $670,286  (668,989)

Median Price: $520,000 (569,000)

Average Days On Market: 90 (111)

Ok, so one of the most significant things that jumps out at me is that the number of sold homes is just a little over half of the number sold in May last year. That’s a trend I’ve seen for several months now. (What’s interesting for me about this though is that my personal volume is up this spring from last year, and our office at RE/MAX Alliance Boulder is showing increased numbers in homes sold this spring as compared to last year)

Prices seem kind of flat (average sold price is up, median price is down… which one do you like to look at?), which in today’s national economy, is a pretty darn good thing in my book, but what I also like is that average time on the market is down. Feel free to check my math for me, but that looks like about a 19% to 20% decrease in market time.

Sold Condos (parenthetic data is May 2008):

Number Sold: 46 (97)

Average Price: $301,626 (310,649)

Median Price: $242,000 (255,000)

Average Days On Market: 168 (106)

Well, well, well… same trend in number of homes sold. Holy Toledo Batman! About half the number of sold condos, when comparing May 2009 versus May 2008. But in this case, we can see all the other numbers look bad. average price and median price on sold condos is down, and days on the market is up considerably.

I’d say if you don’t have to sell that condo you own, don’t. If you’re in the market for a condo in Boulder, now’s a great time to buy. We’d want to look at the market saturation rate to be certain what kind of market we have in terms of inventory, but these numbers tell me it’s a great time to be a buyer in the Boulder condo market right now.

Thinking of buying or selling, or know someone that is? Call, Text or email me, and I’ll get you honest answers to your important questions.

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

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