I have just finished up The Kearney Report for the 4th Quarter 2017. This report gives an in depth view of the real estate market in Boulder County as well as in the sub-areas of; City of Boulder, City of Longmont and East County (Louisville, Lafayette, Superior, Erie). To download and view the report click this link The Kearney Report 4th Quarter 2017 I always provide my reports to you free of charge and without the need to sign up for a list. You can also view it online below.
We saw a big drop in sales and activity during the 3rd quarter. During the 4th quarter the market stabilized. Sales in Boulder County were roughly equal to where they were during the 4th quarter of 2016. Here are a few highlights for the quarter (mostly compared with 4th quarter 2016):
- The median price for the quarter was $480,000. This represents a 14% increase from the same quarter last year.
- It took 5 days longer to sell a home during the 4th quarter.
- There were 3.5% fewer homes on the market at the end of the year.
- At the end of the year there were 3.34 months of inventory on the market. Still a seller’s market.
City of Boulder:
- Sales during the quarter increased by 8.5%.
- Median price of $686,300 (for both condos and single family homes) up 12.5%.
- It took 7 days longer on average to get a home in Boulder under contract. Now 29 days.
- 3.65 months of inventory at the end of the quarter. Just a bit higher than the county but still a seller’s market.
- The average negotiation during the quarter was 2.18% Last year during the 4th quarter it was 1.9%.
City of Longmont:
- Total sales increased by 5% for the quarter.
- Median prices increased by 12% to $374,000.
- Average negotiation off of list price was just .36%.
- On average it took 25 days to get a house under contract.
- At the end of December there were 2.86 months of inventory on the market in Longmont.
East County (Louisville, Lafayette, Superior, Erie):
- Sales were down 1% for the quarter.
- Median prices increased by 4% to $484,770.
- Average negotiation for the quarter was 1.6%.
- On average it took 28 days to sell a home in this area.
- At the end of December there were 3.11 months of inventory in East County.
Here are some selected graphs from the report.