The spring market is in full swing in Boulder County! Interested in exploring the data? Here, I share the latest insights. Special thanks to Anthony Meisner for sharing this excellent dataset!
Inventory Remains High
Similar to my last Boulder County market update, inventory levels remain high throughout much of the county. This is especially true for the city of Boulder, where there were 306 active listings of single-family homes as of last month. Boulder also has a surplus of detached inventory, with 209 available units at the time of this writing. That’s more than a 30% increase from this time last year!
We’re Close to a Balanced Market
The question that many are asking is whether it’s a buyer’s market or a seller’s market. According to the latest data, it’s neither. We’re remarkably close to a balanced market, with a county average of three months’ supply of inventory (MSI). It’s a bit higher here in Boulder, with 4.51 MSI. Submarkets such as Louisville, Lafayette, and Superior have less available inventory, which is good news for sellers in these areas.
Days in MLS Varies By Market
When it comes to days on the MLS, the submarkets are performing very differently. Homes are flying off the market in areas like Lafayette, where the average property spends just 19 days on MLS. Other areas, such as Superior and Erie, are taking longer for homes to sell (with 62 and 75.5 days on MLS, respectively).
Plenty of Inventory Means Better Deals For Buyers
The median percentage of sold-to-list price sits at 98.4% (although this doesn’t account for price changes or concessions). While sellers are receiving close to their asking price, the data indicates better deals for buyers. This is likely due to the high inventory level throughout the county at this moment. As expected, the percentage of sold-to-list price is close to 100% for homes in the highly competitive $ 800,000 to $999,000 price range, and drops to 94.5% for homes priced over $3 million.
Ultimately, this spring is shaping up to be strong for Boulder County. Although we started the year slowly, sales and listings are picking up nicely as we head into summer. If you’re considering buying or selling in the Boulder area, an experienced agent is essential. I’d love to help you achieve your goals, so please contact me to learn more.