Tight Inventory is the name of the game for the Boulder County real estate market as March comes in like a lion and leaves as one as well.
New listings in neighborhoods such as Dakota Ridge and Pearl Street are down 14% year to date and March continues the Q1 trend of even lower inventory with a decrease in inventory of almost 28% in the single family sector. We did see a slight increase in new listings for the attached dwelling market of 5.4%. Some of this can be attributed to projects, such as the Peloton coming online.
The Average Sales Price continues to climb and exceed expectations as with the average sales price rising 18.3% for single family homes year to date and 14.8% for attached dwellings.
Months’ Supply continues to tighten as we see one our biggest decreases down to 1.4 months for single-family homes. This is a 33% decrease compared to last year. The attached dwelling market stayed flat at 1.2 Months, but you really cannot get much lower.
These stats are for the County as a whole they do differ dramatically based on price and location, so please contact me if you want hyper-local information. We have some great new reports that are neighborhood specific.
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