Some years the “bang” of the new year means a quick start in the Boulder real estate market. Other years we get off to a slower start. This year it has been somewhere in between. If my activity is indicative to the market as a whole I could infer that we are gearing up to a fairly decent year. Many more people are thinking about making a move this year than have in the past two years. It just feels different. It feels good that people are back in the market.
However, this doesn’t mean that it’s 2005 all over again. The market has changed. Buyers are more cautious, sellers need to be realistic in order to sell and we as brokers try to keep everyone moving in the right direction. Not always easy.
Now to some facts. I track market activity on a weekly basis. Every Thursday at 8:30 I pull a report and record the results. I track market activity on a weekly basis in Boulder County. I track new listings, price changes, homes that went under contract, homes that sold and the median price of those sales. Over time the trends are quite interesting. I have been doing this for almost two years now.
Here is a broad view of the market activity since January 2010. The blue line represents the number of homes that went under contract during any given week in Boulder County. The red line represents the number that sold during any given week.
The chart above also includes the number of sales but the blue line is the number of new listings that come on the market. You can see that a majority of the new listings come on the market between January and May in any given year. This is a good time to be an active buyer.
The chart above shows the number of new listings coming on the market over the first nine weeks of the year. We are lagging a bit behind last year. A bit of a slower start.
The chart above shows the number of homes that have gone under contract over the first nine weeks of the year both this year and last. This week there was just about the same activity as last year at the same time but overall we are lagging a bit behind. This is not unexpected because at this time last year the tax credit stimulus package for homebuyers was in full swing.