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Boulder Real Estate Statistics for December 2017

Boulder Real Estate Statistics for December 2017

The Boulder real estate market ended on a strong note in December of 2017.  Sales for the month were up 3.5% compared to December of 2016.  This good activity is also translating into a strong start for 2018. The slideshow below gives a good overview of the market in 8 quick slides. Sales for 2017 in its entirety were down 5.4%; prices were up approximately 6% with much of that appreciation occurring in the first half of the year.   Boulder County Real Estate – December 2017 Statistics from Neil...
4697 Tally Ho Ct., Boulder, CO 80301 — $729,000

4697 Tally Ho Ct., Boulder, CO 80301 — $729,000

4697 Tally Ho Ct. Boulder, CO 80301 – $729,000 For all of the photos and more information on this listing go to www.4697TallyHo.com I’ve just listed this beautifully updated home! Everywhere you turn you will find quality touches & finishes. Some of the outstanding features include: maple cabinetry throughout, four upgraded baths, extensive hardwood floors, beautiful kitchen with granite, stainless appliances & maple cabinetry, high quality windows, etc. Enjoy the wonderful back range views from the master bedroom; great yard with raised beds & a great deck. Wonderful neighborhood with a pool and easy access to Twin Lakes Open Space. 2,329 Square Feet 3 Bedrooms 4 Bathrooms Beautiful Finishes Throughout Neighborhood Pool Five Miles to Downtown Boulder                  ...
Boulder Real Estate Market – 2017 Year in Review

Boulder Real Estate Market – 2017 Year in Review

2017 Year In Review Half-way through 2017 we saw a shift in the Boulder area real estate market.  The first half of the year was a continuation of the very hot market we experienced in 2014-2016 with rapid price appreciation, low inventory and a strong sellers’ market.  During the second half of the year we experienced a softer market characterized by homes staying on the market longer, more price reductions and more balanced negotiations. Here are some of the key statistics in Boulder County from 2017: Total sales were down 5% to 4,680 sales. The median price for all sales in 2017 was $480,000 which is up 6% from 2016. There were 490 sales that exceeded $1 million during the year which is 64 more than a year ago, 124 more than two years ago and 301 more than five years ago. At the end of December there were just 777 residential properties on the market in Boulder County and 331 of these were already under contract. This represents a low mark since I have been keeping track. Over the past 10 years, owning real estate in Boulder County has been a great investment.  Cumulative appreciation since 2007 has exceeded 60% with most of that occurring during the last five years. What’s Been Driving The Market? The United States is 8 ½ years into an expansion. This represents the 3rd longest consecutive expansion period since the Great Depression.[1]Colorado and especially Boulder County have benefitted from the strong economy. Colorado added approximately 60,000 new residents from migration and 56,300 new jobs in 2017. The unemployment rate in Colorado is 2.5%...
In 2017, Boulder Real Estate Negotiation Tipped Toward Buyers

In 2017, Boulder Real Estate Negotiation Tipped Toward Buyers

In 2017 in Boulder County, the average negotiation off of list price for all sales was 1.3%.  In 2016 it was .36%.  However, when you look at it more closely both over time and across price ranges there are some good market insights.  The chart below shows the sales in each of the last four quarters separated into three categories; those that sold for below the list price (blue), those that sold for exactly list price (orange), and those that sold for above list price (grey). As an example, let’s look at the second quarter of 2016 which is the second group from the left.  During that quarter Boulder County was ranked #1 in the nation for appreciation by FHFA.gov.  During the quarter, 30% of the sales went for less than the asking price, 20% went for exactly the list price and 50% of the sales sold for a price in excess of the asking price.  This past quarter 56% sold for less than list price, 23% went for exactly asking price and 21% went for above the list price. The overall take away is that buyers have gained some traction in negotiations.  There are two trend lines that intersect.  The upward trending blue line represents the trend of properties selling below the asking price.  The downward trending grey line shows the trend for homes selling at a premium.  With the information above we can conclude that the overall market is trending away from a strong sellers market.  But in real estate broad generalities are not always accurate.  When we look at individual price ranges we find that the...