We continue to see a lack of inventory of single family homes, especially in the prices ranges below $500,000. The median and average sales prices continue to rise as buyers compete for properties and drive up prices. I have a couple who bought in Erie and bid $25,000 over listing price and, to the surprise of even the listing agent, the house appraised at the contract price. Then they turned around to sell their Lafayette home and are under contract for over 6% of that listing price.
Condos and townhouses are also seeing similar situations, although there is a slight dip in the selling price to listing price ratio. There are concerns about investment units in the City of Boulder as students at CU are facing virus concerns. If they decide to leave the city, it may flood the market with "kiddie condos," increasing supply and decreasing prices.
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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