Niwot Colorado Real Estate Market Report Nov 2011
The Niwot Real Estate market has seen its challenges over the past couple years, but we are starting to see some indicators that things are moving in the right direction. While October’s absorption rate of 10% is not going to set any records, we would like to see absorption in the 20% to 25% range, it is certainly better than the 6% absorption Niwot, Colorado experienced in October of 2009. One of the reasons that we are beginning to see Niwot strengthen is Seller and Buyer Expectations are coming into alignment. When we look at the chart below for average price per/sq ft we see the list price, sold price, and under contract prices all converging to the same point. If we look back at 2009 Buyers and Sellers were $50 apart with their expectations close to 25% today Buyers and Sellers are moving closer together.
The chart below shows the absorption numbers mentioned above. Niwot, Colorado is certainly still a Buyer’s Market, but it is nice to see the Market Dynamics are moving in a positive direction.
This is certainly an indicator that we may have seen the bottom of the market in Niwot, so if you have looking in Niwot it might be a good time to buy in this truly special little town in Boulder County. The old legend about Chief Niwot’s curse is once you experienced the Boulder Valley you can never truly move away you will always be called back home. The town of Niwot embodies many of the qualities that make this curse come true with a great small town feel, first class schools, and just great people. Click here to see the latest listing in Niwot, Colorado