Many people assume that after Labor Day the real estate market shuts down for the winter. Not true! It is very common for real estate sales to remain strong throughout the fall. This year is no exception. We are seeing activity throughout the market. Many buyers are taking advantage of low interest rates and wanting to be settled before the holidays.
Each week I track the real estate market activity in Boulder County. I track the number of new homes which came on the market, the number of price reductions, the number of homes that went under contract and the number that closed.
Through the first three quarters of the year sales are down roughly 7% from last year countywide. However I expect that we will cut into that deficit this month. Since the second week in August, weekly sales this year compared to last have been higher on a weekly basis. The only exception is this week. Given the common lag time of 30 – 45 days between contract to close I predict that this October will be stronger than last. The graph below shows weekly under contract data for Boulder County for 2010 and 2011. The second graph shows sales so far this year compared to last.