A big thanks to Anthony Meisner from Land Title for this fantastic February data set. Let’s dive right in:
Inventory Continues to Rise
Even though we are in a slower season for the real estate market, the inventory of detached homes in Boulder County continues to rise—particularly in submarkets like Superior, Louisville, and Erie. The increase in inventory is even more significant in the attached market, much of which is due to the rebuilding efforts after the Marshall fires.
Months’ Supply of Inventory Is Still Low
Despite the influx of new listings on the market, the months’ supply of inventory remains low. We have a 2.3-month supply of inventory, but we anticipate that this figure will rise as we move into spring. If you plan to sell, listing your home sooner rather than later could be your best strategy for selling quickly.
Homes Are Taking Longer to Sell
In line with last month’s update, homes still take time to sell. There is no need to panic, as this is normal for this time of year. Sales will likely occur more quickly as we move into the warmer months. The average detached property spends 64 days on the MLS, with submarkets like Longmont, Niwot, and Superior as notable exceptions.
The Attached Market Is Struggling
While the detached market is performing well, the attached market in Boulder County is lagging. With increasing inventory and fewer buyers interested in this type of property, prices for attached homes in Boulder and most submarkets are declining. If you’re considering a purchase and prefer no yard maintenance, deals could be available for condos and townhouses.
Prices Have Been Resilient
The most recent data shows that sellers receive an average of 97.7% of the sold-to-list price. This is a slight dip from previous years, but prices are remarkably stable overall. Remember that this figure doesn’t factor in price drops or concessions, which suggests that buyers have been in an enviable position for the past couple of months.
As we leave winter behind and head into the spring market, expect inventory to rise and buyer activity to pick up. Even during this historically slower season, Boulder County’s detached market has performed well. Interested in buying or selling in Boulder? I’d love to help! Please contact me to start the process.
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