As we leave winter behind and enter the spring market, there are interesting data points to analyze. Here, I discuss the latest trends from Boulder County, provided by Anthony Meisner of Land Title:
Inventory Is Up
To build upon my last Boulder County market update, inventory continues to rise throughout much of the county. The detached market is leading the way, with inventory increasing by more than 25% compared to last year. Under contracts are also up by 8%, which is a positive indicator for the coming months. The attached market is likewise adding more inventory, with available units growing by over 30% since this time last year–and the increase is particularly sharp in the city of Boulder.
Months’ Supply of Inventory Is Nearly Balanced
When considering the county as a whole, the months’ supply of inventory (MSI) is as close to balanced as possible. On average, it stands at 2.98 MSI. The city of Boulder currently has more inventory than the surrounding submarkets, with 3.78 MSI. Lafayette, Niwot, and Longmont have fewer months’ supply of inventory, making them feel more like seller’s markets at present.
Inventory Varies by Price Range
As we approach a warmer market, properties are behaving quite differently based on price point. Above $3 million, there is ample inventory, providing buyers with more options and increased negotiating power. Even in the $2.5 to $ 2.99 million range, the months’ supply of inventory exceeds what we’ve typically observed.
Prices Are Holding Steady
Although we didn’t get off to the strongest start this quarter, the average percentage of sold to list price is holding steady at 98.35%. This indicates that sellers are receiving very close to the asking price, reflecting the strength of the market here in Boulder County. While this figure is slightly lower than it was at this time last year, we expect it to rise as we move into summer.
As Anthony put it, “stability, stability, stability” is this month’s key takeaway. Although we’re not seeing as many bidding wars or multiple offers, our real estate market remains resilient while other areas struggle. Whether you’re planning to buy or sell, you have a good chance of achieving your goals. Interested in listing your property or starting the search for your dream home? I’d love to help you navigate our market! Please contact me to start the process.