Market Insight - February Boulder County Stats

Posted by Greg Smith on Tuesday, March 20th, 2018 at 8:16am.

Boulder County Market Stats Feb 2018

As interest rates start to rise people ask if we see any effect on the real estate market.  
At this point, rates do not appear to be having a negative effect on the market.  Currently, real estate inventory is still at an all-time low with only 1.3 months of single-family housing, and only 1.1 months of attached dwellings.  The average sale price for single-family homes is up 13.7% for the year.  February came in at a very strong with a 23% increase when compared to February 2017.  
Average Days on Market is still holding at around 50 days. Considering it usually takes 30 to 45 days for a property to close, most homes are going under contract in less than two weeks.  We experienced a slight decrease in the sales price to list price over the past year from 99.2% to 98.5%, but February bucked the trend moving back up to 99.2%.  Attached dwellings were even stronger at 100.1% in February.  
The real headline for February 2018 is the volume of sales.  Even with less inventory buyers were making a hard push with a 12% increase in Single Family sales for a total of 194 units.  Attached dwellings showed an even higher demand with a 15% increase for a total of 92 units sold.
Overall, the statistics show a strong market. As you know when we drill down, every price range and location differ. Give me a call and I can send you custom stats for your neighborhood and home. 

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Greg Smith

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