November Stats Reveal...
Boulder County stats for 2018 show some notable trends for both attached and detached homes. Average sale prices were up by 9.9% for attached, and 9.1% for single family homes - a significant decline from the 2017 double digit appreciation percentages of 12.3% and 14.4% respectively. With 30 year mortgage rates up nearly 1% from 2017, price appreciation appears to have slowed in the County as a counter balance to the increase in the cost of money.
Attached Dwellings saw an increase in units sold likely due to the delivery of newly constructed units which grew the supply. The increased supply resulted in increased sales by 5.6%. The percentage of units Under Contract has fallen sharply to 42% from 57% which might indicate that buyers have more wiggle room on price. However, the Sale Price/List Price ratio is holding at 100% meaning that buyers are paying the listed price - this correlates perfectly to new unit sales where there is little-to-no negotiation.
Single Family Homes saw a decline in the number of sales by only 3.8%, and the Sale Price/List Price remained steady at 98.7%. Check out the Top 10 Vital Statistics by CLICKING HERE.
The 2019 Housing Forecast
As 2019 is just around the corner, many want to know what's in the forecast for the market in the new year? This article from RE/MAX of Boulder says, "if the outlook can be summed up in one word, it's this: balanced." That means "Inventory will continue to increase next year, but unless there is a major shift in the economic trajectory, we don't expect a buyer's market on the horizon within the next five years." One contribution to this will be interest rates, which are likely to head toward the 6%.
Overall, the look ahead is favorable, and "with the burn-out in home prices, and rates rising, housing has been inching toward normal this year, and is anticipated to stabilize through 2019. Battered buyers may have improved prospects in the upcoming year, but will still contend with cost and inventory pressures."
What Does Colorado Need? More Housing...
As the Colorado Real Estate Journal explains in this article, Colorado has a housing shortage, and not enough solutions. "In both the public and political arena, the increase in demand for attainable housing, coupled with hurdles to create more housing, is a growing problem." The numbers show how clear of an issue this is. For example, "Over 110 million people reside in rental housing, and renter households are expected to grow by 500,000 each year for the next 10 years." There has been an increase in "non-traditional" housing arrangements just so that people can find a place to live they can afford. I'm sure we'll hear more about this issue in the upcoming year.
10 Daring Designs Trending in 2019
From "Artisanal Accessories" to 50 Shades of Pink, these design trends from Realtor.com for 2019 are fun and bold! So whether you're "seeking inspiration—or heck, maybe you just want to look at some beautiful photos and dream" these ideas will do just that. According to the pros, "It’s about creating visual interest" and "these decor ideas promise to do just that. Striking and memorable—with a bombshell or two in the mix—these top trends are a great place to start your redesign wish list." Check them out!
What's Happening this Month:
New Year's Eve Grand Gala 2019. December 31st, 8pm-12am
Concert Series Presents: Colorado Chamber Players French Program. January 13th, 2-3:30pm
Live eTown Radio Show Taping w/ William Fitzsimmons & Special Guests. January 20th, 7-9pm
22nd Annual Boulder Wedding Showcase. January 27th, 11am-2pm
Boulder Comedy Show (2 shows). January 27th, 7 and 9:15pm