Amid other pressing matters, here is a quick update on the Boulder County real estate market and statistics using the data available at the beginning of March. The real estate market has been very strong over the last three months. Sales are up double digits from a year ago, inventory is again falling and there have been many multiple offer situations so far this year. Going forward it will be very interesting to see how the worldwide health situation and the stock market drop and volatility will affect the local real estate market. In the short run interest rates will be positively affected. My guess is that higher priced homes will feel a definite slow down and lower price points won’t be as affected. Low mortgage rates help those with high mortgage balances the most, but locally, buyers of high priced homes tend to also have high down payments and money invested in the stock market.
See the ten slide, slideshow below for more commentary and details.
The first graph below shows sales on a monthly basis over the past eight years. The red bars on the left side show the strong sales recorded so far this year compared to past years.
The graph below shows the total number of homes available at the end of each month since 2014. After a showing gains in inventory in 2019, we are seeing a drop due to strong sales.