Boulder County 2Q20 Stats

How we have fared through the most restrictive part of the quarantine is beginning to become apparent. For single family detached dwellings, we are down over 16% in active listings compared to this time last year. We can feel that, too, as there are once again multiple offer situations happening throughout the Denver metro area. The median and average sales prices have taken a small hit but I think that's due to the higher priced homes taking a little longer to sell resulting in a few more price reductions than normal. Homes under $500,000 are still going fast, and even the really rough properties are going under contract quickly to investors. 

We're seeing in increase in days on market of 3.4% for detached homes which is likely the COVID effect. Even though houses in certain areas are flying off of the market it is not the majority of properties. Buyers are getting more cautious and tired of getting beaten up by bidding wars and are less likely just to take whatever the seller is dishing out. Inspection repair requests should be taken seriously by the sellers that receive them as buyers are willing to walk if major concerns can't get addressed.

Attached dwellings - duplexes, townhouses and condos - saw an increase in total number of listings the first half of the year, with the median and average sales price also going up. Like detached homes, they are also generally sitting on the market a little longer than this time last year. Even so, we are still under the 4-6 month inventory rule of thumb that indicates a balanced market. 

I know Boulder County is unique in a lot of ways, so if you would like a market analysis on your area, don't hesitate to contact me - I do a lot of work south and east of my office and it's still a good time to sell!

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I would love to help you with your real estate journey. 

Please contact me at 303-917-7143 or robbin@elevatedrealestate.com

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