Whether you’re planning to buy or sell in Boulder County, it’s helpful to learn more about current market conditions before making your decision. We have a remarkable real estate market, and the comprehensive data sharing agreement between REcolorado and Information Real Estate Services (IRES) makes it possible to analyze the current conditions with precision. Here, I share insight into market trends from the week of October 18-25, 2020.
During the week of October 18, the number of new listings in Boulder County dropped to just 63. This is a significant decrease from the previous week, in which we saw 96 new listings. The drop in listings is likely due to the wildfires that our county recently experienced. To stay up to date on the latest in wildfire news, please visit this site.
A Strong Week For Homes Under Contract
Despite the tightening of inventory, the week of October 18-25 was excellent for under contract activity. Our market experienced 116 homes under contract, which is an increase from the previous week, in which we saw 109 new contracts. This data shows that Boulder County currently has an under contract to new listing ratio of 184.1%, which is an increase from the ratio of 140% during the same week in 2019.
A Breakdown by Price Range
During the week of October 18, there were 20 new listings of homes from $0-500,000 and 31 under contract. In the price range of $500,001-$1,000,000, 23 homes were newly listed and 61 went under contract for a strong under contract to new listing ratio of 265.2%. Properties from $1,000,001-1,500,000 experienced a resurgence with seven new listings and 13 under contract for an under contract to new listing ratio of 185.7%. Homes over $2,000,000 saw five new listings and six under contract this week for an under contract to new listing ratio of 120%. The high under contract to new listing ratios indicate that inventory is tightening and the market remains robust.
Boulder County continues to report strong numbers as we approach the winter months. Although showings tend to slow down during the coldest months of the year, our extremely limited inventory may keep those under contract to new listing ratios high. Whether you’re planning to buy or sell, it may be an excellent time to consider taking the leap. If you’d like to chat about starting the process, please contact my team to learn more.