The real estate market in Boulder County continues to baffle me. Ten more homes sold in September than in August with the average sales prices down $20,000 accompanied by a decrease in price per total square foot of $9. Boulder County isn’t experiencing the devastation of the real estate market as other localities are experiencing. It is down, but not terrible.
Longmont led the way with 103 homes sold followed by Boulder at 74. Because of the much higher Boulder premium paid to live there, Boulder’s dollar volume of homes sold exceeded that of Longmont by approximately $50 million. Both localities’ dollar volume was down compared to September 2021.
Boulder’s average sales price was up 13 percent YTD, but down $38,000 from last month. Longmont had a similar increase YTD of 12 percent, but was up almost $100,000 from the previous month. If you look at the 3 year, trend all localities in Boulder County are on a similar continuum with an uptick in the average sales price over the past three years. Of course we had some crazy high sales prices in the last year, but that tremendous growth can’t be sustained forever.
The interest rates and the economy may throw a wrench into the market here in Boulder County, but because of its desirability as a great place to live the real estate market here shouldn’t suffer as greatly as other places.
If you are thinking about selling, now is a great time to do. Call me to discuss what needs to be done to maximize the value of your home, your largest asset.
(This is based on Single Family Homes. Data from IRES MLS Oct 27, 2022)