So, How's The Market?

Posted by Phil Boren on Tuesday, September 8th, 2009 at 10:49am.

This is a pretty common question these days and the answer is . . . it depends. While there are always micro-market factors affecting any market segment, the market today has some pretty distinct boundaries based largely on price point. Based on current MLS stats, residential properties in Boulder County under $300K have about 6.2 months of inventory with 24% under contract. Conversely, properties over $1.2M have 54.7 months of inventory with only 4% under contract.

In a nutshell, the lower-end market has had stimulus in the form of the federal tax credit, favorable interest rates, and shrinking inventory; while the upper end market has constraints in the form of more stringent underwriting, thin credit markets for jumbo loans, a thinning move-up market, etc.

While macro-market trends may not necessarily apply to any one specific property, and it's still true that competitively-priced homes in good locations still sell, it's likely to be a disappointing process for everybody if these stats are ignored. Think of it like this: Your property is in a price war and a beauty contest right now - particularly if your Boulder County home's price point is above say, $600K.

Having said all that, the Boulder market is different than Broomfield, Erie is different than Lafayette, and Louisville is different than Longmont. If you would like us to analyze your property and provide you with some real-time market statistics on your neighborhood, please Contact Us today.