The October 2017 The Single-Family Homes (SFH) market displayed some nice improvement with units of SFH increasing by 18.4% when compared to Oct. 2016. The Median Sales also showed a big jump over last year with an increase of 11% to $545K. October was a positive break from the trend of what we saw the last few months.
The only real drop we saw compared to October 2016 is the list price to sale price ratio. It dropped by .9% to 98.5%. This was not a complete surprise based on the insight we were getting from office discussions. It appears Buyers are becoming more price sensitive and it is no longer a market where you can shoot for the stars. Sellers need to be very cognizant of pricing correctly or they could end up with a stale listing that may sell below what they could have achieved if positioned properly in the market from the beginning.
We love seeing increased sales numbers, but they can make things a little tough for our Buyer friends. Month’s supply of inventory adjusted from September 2017's 2.7 to October's 2.3, so while we tend to suggest waiting for Spring, this year’s market trending suggest that now may be a good time to sell as well. Speaking first hand, we recently received multiple offer on several listings well over a million dollars.
Overall the Boulder County Market continues to shine and we are always here to give you the insights to make smart Buying and Selling decisions. Remember the Boulder County Market is hyper local by location, price, and product type, expertise does matter.
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