The real estate market in Boulder County continues to reach new heights. Even with the increase in interest rates buyers are still out in droves, with multiple offers on homes even in the million dollar price range. If you want to buy into a house in Boulder County, tighten your seatbelt and get ready for a wild ride!
Single family homes prices jumped an average of eight percent from February to March. From January to March prices are up about sixteen percent. The average price per square foot is up twenty percent from a year ago. Don’t you wish you had purchased a home in Boulder County in 2021!!!
Boulder continues to be the most expensive town in Boulder County. The average prices rose almost 3 percent in the past month. If you’re in the market for a house in Boulder get ready to pay an average of 7.5 percent over the list price. (This is if the home is priced competitively. Over-priced homes sit on the market.)
Home sales in Erie were an outlier compared to the rest of Boulder County. Prices for single family homes fell 9.5 percent compared to February, but were up almost five percent compared to March 2021.
Prices in Lafayette soared in March, up an average of 52 percent over the past year. The popularity of Lafayette is evident in the average of twelve percent sold price compared to list price. And, the average price skyrocketed by thirty-two percent over the past month. Take notice home owners. Now is a great time to sell if you are thinking about moving.
Once again Longmont led the market with the largest number of single family home sales in Boulder County. The average sales price here rose twenty-four percent in one month to $855,615. The average sold price in Longmont was almost eight percent over the list price.
The four homes sold in Niwot were up an average of forty percent compared to March 2021. And, the sold prices averaged four percent over the list price.
Buyers should be prepared to offer a significant amount over list price in order to win a bidding war. The house won’t necessarily appraise for the offer amount, making it critical to have cash to cover the difference between the offer price and the appraised value.
If you are thinking about selling your home now is a great time to maximize the return on this, your largest investment.