As data comes in from September and early October, it’s time to evaluate the market situation here in Boulder County. As always, we appreciate Anthony Meisner of Land Title for gathering these stats.
Increase in Pending Sales and Inventory
Although it’s a slower part of the year, pending sales are slightly higher. The 5.1% year-over-year increase shows growing demand, which is positive news for potential sellers who might have felt uncertain. While we’ve seen more sellers become frustrated with the market and pull their listings, we still remain in a high inventory environment. Active listings have increased by 10.1% year-over-year, though there’s been a slight monthly decline of 4.6%.
Prices Remain Resilient
Great news for sellers: prices remain resilient. The average closed price for single-family homes has increased by 3.8% compared to this time last year, while the attached market average is up 1.6% year-over-year. In Boulder County, the average closed price for single-family homes is now $991,175, and for condos and townhouses, it’s $573,901. Looking at the percentage of closed price to list price, sellers are still in good shape, receiving an average of 97.5% of the list price.
Days in MLS Are Up
As expected for this time of year, days on the MLS are up. On average, properties are now staying on the market for 52 days. This is an increase from 47 days last month and a 2% rise year-over-year. Interestingly, the ratio of showings to pending sales has decreased to 13.7–a drop of 5.5% compared to last year. This indicates that buyers are serious and ready to move when they find the right home.
Months’ Supply of Inventory Is Up
Months’ supply of inventory (MSI) indicates stability. We’ve stayed quite steady in this area over the past year. Last year at this time, there were 4 months’ supply, and now it’s 4.1 MSI in Boulder County. If you’re planning to buy, you still have the option to explore your choices.
As we head into the slower fall and winter months, our market remains steady. Prices stay strong for sellers, buyers have plenty of options, and we’re in a great position overall. Interested in listing your home or starting your search? I’m here to help! Please reach out to me to get started.