WOW! We are seeing unprecedented market conditions in the Boulder County real estate market. A strong and fast moving, sellers’ market is causing a spike in prices. Inventory is still low and at the end of March 69% of the ”on market” homes were already under contract. Two years ago at this same time 43% of listings were under contract. Most well priced homes are going under contract very quickly with multiple offers. It’s not uncommon for buyers to waive the right to object to a low appraisal and taking houses in ”as-is” condition.
55% of the sales in March exceeded the list price of the home. The average premium over the list price was 6% or almost $42,000! Appreciation is moving quickly!
Take a look at the annotated slide show below to get more details and see the trend charts for the month.