A comparison of the calendar year housing market for 2017 versus 2018 shows several continued trends year over year. For attached homes (condos and townhomes), total units sold in 2018 rose 3% from 2017 due to the addition of new multi-family housing units in Boulder County. Prices rose year over year as well with the median sales price of $385,100 up 9.2% and the average sales price of $444,600 up 10.9% from 2017. The demand for attached housing remains strong due to the more attainable price point, and the "lock and leave" lifestyle which this housing type offers. Inventory of homes on the market remains very low, at 1.4 months of supply.
For the single family housing market in the County, 2018 was another strong year for price appreciation. The median sales price of $595,000 is up 7.2% over 2017, and and the average sales price of $745,985 is up 9.6% over 2017. Inventory remains consistently low across both years at 1.5 months of supply. Click here to see the 2018 Year End Boulder County Statistics for both Attached and Single Family Housing.
2019 Real Estate Forecast: What Home Buyers, Sellers and Investors Can Expect
In this article from Forbes Magazine, they discuss the forecast for the 2019 national housing market. Rates will likely still trend up, Millennials will be a force in the market taking up 45% of mortgages, inventory troubles could ease slightly, and buyers will see less competition. As Tendayi Kapfidze, chief economist for LendingTree, says “With a slower price appreciation, incomes have an opportunity to catch up. With slower sales, inventory has an opportunity to normalize. A slowdown in 2019 creates a healthier housing market going forward.”
2019 Top Furniture Trends
Wanting to redo your home decor for the new year? Furniture plays a key role in determining the look and feel you want in your home. To get you started, check out this article from Elle Decor about the top trends for furniture in 2019. They include oxidized oak, going BOLD, geometric patterns, curved designs, natural stone, and much more!
Does Wildfire Risk Affect Your Home Owners Insurance?
The Denver Post explains in this article how acquiring home insurance is growing more difficult as wildfires become more prevalent. However, programs like Boulder County’s Wildfire Partners help homeowners reduce dangers on their properties creating what foresters call “defensible space” around their homes by lopping off low tree limbs, removing leaves from gutters, and taking other steps that make it harder for fire to travel. Programs like these can allow insurers to cover homes that were once considered too risky.