By all accounts the real estate market in the Boulder has been strong. Inventory is down, prices continue to rise quickly and all of the really good homes seem to go for ‘way’ more than full price. However, when you look at the numbers you find that this years market isn’t quite so robust as last year. Sales of homes in Boulder County in the month of June were down 4.7% when compared to a year ago and so far in 2016 total sales have fallen 9%.
However, the lack of sales is more due to a supply problem rather than a demand problem. Inventory of available homes is down 6% from a year ago and 17% from two years ago. The graph below shows the trend of homes on the market over the past five years. Bottom line – fewer homes are coming on the market and that lack of inventory is causing rising prices.