Boulder Sold Home Prices, Are you being misled again?

I’m re-reading an article from Jan 13th which is talking about how the Boulder real estate market is tanking. This seems to be another hilarious, but actually no-so-funny example of how the media always wants to sensationalize any given situation.

Now, I suggest that we look at the data, and if you’re ever wondering what’s really going on in any of our local markets, whether it’s a particular city in the area, or even a particular neighborhood, let me pull the real data for you and we can analyze it together.

Sometimes the local print media is so full of ridiculous twists and turns just to sell a story, and sell the advertising they need to put the paper on the stands that it absolutely appalls me.

Call, text, or email me today! … I’d seriously enjoy having the opportunity to talk to you about your plans if you’re moving, or if you know someone who is considering a move, and needs some straight answers.

So the claim is that the Boulder and Broomfield area real estate home sales market is down 11%. What a crock of nonsense…. first of all, to lump Boulder with Broomfield is downright ridiculous and irresponsible. They are two completely different markets, and there’s no compelling or logical reason to combine data or information from the two areas.

There’s no ‘hangover’ from the federal tax credit. Period. My brokerage, and my business in particular saw more activity in 2010 than in any other single calendar year in the last decade. What hangover?

Comparing Q4 2009 to Q4 201o is such an isolated and narrow approach to understanding the current trends and marketplace that it’s downright silly to do so.

Another approach might be to look at the overall trend in 2010. Median sold home prices in 2010 throughout the year were up, and the ‘for sale’ median prices were down. That tells me that sellers are responding to the market (what buyers are willing to pay); and the median prices of sold homes across the year are up slightly. This either means values are up, or buyers are generally willing to buy in slightly higher price ranges than they were earlier in the year.

Look at the chart and tell me what you think. But 11% decline? I don’t think so. The data from BARA (Boulder Area Realtor Association) has it right, Q4 ’09 vs. ’10 shows prices up, in Boulder, and Superior. While it may be lower quarter to quarter in Q4 between the two years in some other communities, I think looking at the longer term trends is more compelling, and more useful to buyers and sellers. Ken Hotard at BARA again has it right; the market is stable, and he expects it to stay that way. And as Hotard said: “…we aren’t losing ground.”

Thinking about buying a new home, getting ready to sell, or know someone who plans to move? I think we should talk.

Call, Text, or Email me. I will listen carefully to you.

You may also find my neighborhood profiles, and Boulder business profiles informative and useful. They’re both great ways to learn more about what’s going on in Boulder. Call, Text, or Email me today!

Zachary Epps, GRI, ABR, REALTOR®, full-time RE/MAX professional, and author of the Boulder Real Estate and Neighborhood Guide, The Boulder Condo Guide, and The Home Buyer’s Handbook.


One Response to “Boulder Sold Home Prices, Are you being misled again?”

  1. Boulder Home on March 16th, 2011 8:28 am

    Excellent Article.

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