The West Coast Influences Our Local Market
Is the influx of West Coast tech people affecting our market? The answer is YES, as shown by the huge increases in both median and average home sale prices across all submarkets (towns) in the County. The "new normal" in Boulder County real estate is "low inventory". We are at historic low inventory levels, but the number of sales actually rose from this time last year. We attribute this to new residents to the County who are bringing sales proceeds from more expensive housing markets paired with their high tech incomes. For 1Q sales numbers within the City of Boulder, single family home sales increased from 112 units in 1Q 2017 to 142 home sales in 1Q 2018. That is a 26% increase in the number of homes sold. Equally amazing is the increase in our average price by 21%, with the City of Boulder's average sales price for a single family residence now at $1,207,403. Click here to read the 1Q data for Boulder County.
Sell your Home Faster and Better
If you're selling your home this year, this article in Houzz points to "some key things you can do to help pique people's interest as soon as they walk through the door — or before." Three of the most important things to remember are, "great photography, strategic staging and amazing curb appeal can improve the way your home is appraised, viewed and valued." Following this great advice can make a difference in the number and value of offers your home receives. And remember--I'm here to help you every step of the way.
The Home Buyer's Essential Check List
As you prepare to purchase a home, there are 6 items on your "to do" list that you must check off, as outlined in this article from At Home Colorado. For example, make sure you improve your credit score as much as possible before beginning the loan process. Also, remember to regularly add to your savings account, and when you're calculating how much you can afford each month, "for conventional loans, home expenses should not exceed 28 percent of your gross monthly income."
Local Median Prices Continue in Which Direction?
For much of Boulder County and surrounding areas, "The median price for single-family homes increased in March in four markets in Northern Colorado and the Boulder Valley." As this article in BizWest points out, Boulder continues to be most expensive market for homes, with a median price of $949,000 during March, up from $847,000 in February." While we can't predict exactly what will happen for the rest of the year, a $100,000 median price increase in a month is quite dramatic.
What's Happening this Month:
Boulder Farmers Market. Saturday, 8am-2pm, Wednesday, 4pm-8pm
Mother's Day Brunch. May 13th, 9am-4pm
Boulder Startup Week. May 14th-18th
Boulder Creek Festival. May 25th-27th
Bolder Boulder. May 28th