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It's a Hot Summer in Boulder County!
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It's a Hot Summer in Boulder County

July is hot as usual in terms of local temperatures, but our real estate market is cooling down a bit. Demand has softened and inventory has risen in Boulder County. The articles this month reflect a theme of change in the air-- Amazon bought Whole Foods--how will our local shopping experiences and commercial real estate market be impacted by this? There's also a construction worker shortage that is affecting the pace at which new construction can be built to accommodate those migrating to Colorado. Don't miss the second quarter stats to compare what's happening in your city now that we're halfway through 2017. Let me know how I can support your plans for the second half of this year. It's going to go by fast and I want to encourage you to look at your options before the Summer is over. 

Second Quarter Stats are In...
Here we are at the mid-point of 2017 and the summer heat is on; however, Boulder County Real Estate is actually starting to cool. Most Realtors® regard this as a good thing because we all know that we certainly cannot sustain the levels of appreciation we have had for the past 4 years. A more balanced market is healthy and it’s important for Buyers and Sellers to understand the market “today” so that their expectations are met. CLICK HERE to see the current statistics and what the market numbers are really saying.


Will Amazon Change Real Estate Forever?

Typically we focus on residential real estate in The Buzz, but this topic covered in an article in Entrepreneur.com is too significant to skip over. As many of you know, Amazon purchased Whole Foods last month, which is projected to give a "makeover" to local grocery stores forever. The way people grocery shop will shift from this point forward with local stores carrying less merchandise and encouraging more people to shop online. "This will create significant disruption in commercial real estate as countless supermarkets go out of business, others remodel to occupy a smaller footprint, and some move to new premises." In the coming years, spaces now occupied by supermarkets will become children’s play centers, business incubators, leisure centers and even charter schools. Real estate developers and investors attuned to what will appeal to the local officials charged with revitalizing retail districts will find powerful investment opportunities." This could prove to be a milestone in the real estate industry, and am curious to see how things transform in the future. 

Who's Going to Build Your New Home?
Colorado is experiencing a serious shortage of construction workers, an increase in people moving here, and too few homes on the market to meet the demand. As this article in the Denver Post says, "Industry officials in Colorado say the shortage of skilled laborers is at a crisis level. They need people now — to build homes, malls, office buildings and roads." Many people want to know: what has contributed to this "crisis"? "Construction leaders say the problem was caused by a perfect storm: record low unemployment, an aging workforce, the narrative that everyone has to go to college, massive layoffs of construction workers during the recession who never returned, a lack of affordable housing and a huge demand for construction work across Colorado." All of us in Boulder County are seeing the results of this clearly with the the shortage of affordable housing. As a real estate agent, I find this information helpful in understanding what's happening in other industries that are impacting the housing market.  

Boulder County is Fourth in Nation for What?
As you know, Boulder County is one of the best places in the country to live. As a result, this article states, "Boulder County is among the markets with the fewest houses available to buy, according to a new report from insurer Nationwide". We recently got a bump in supply, according to monthly MLS data, but it's still a sellers market. Reach out to me with any questions you have, and think about if this is the right time for you to sell your home. 

What's Happening this Month: 
Boulder Farmer's Market, Saturdays, 8am-2pm.
Boulder Fringe Festival. Aug 17-26th.  
Boulder Beer Craft Festival. August 19th 1-5pm.
Band on the Bricks. Wednesdays, 5:30-9pm.
Pearl Street Stampede. August 31st, 7pm. 

Clove Berger
Realtor

 

303-748-3381
Re/Max of Boulder
2425 Canyon Blvd. #110
Boulder, CO 80302

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