The real estate market in Boulder County remained stable in August despite the rising interest rates.
In fact, the average sales price of single family homes in Boulder priced above $1 Million increased compared to July 2022. And, the average price per square foot increased in homes priced between $1M and $1M. The percent of the original list price declined slightly to an average of 96.2. This peaked in April at 109.2 percent. It did take a little longer to sell a home in August compared to July, but it was less than the 90 days it takes in a normal market.
Homes in Erie sold quickly as well with the $1M to $2M homes selling the fastest. Best of all, the prices remained steady compared to July and sold for close to list. Homes priced above $2M received the biggest discount to the original list price.
Lafayette had a negligible change in all price ranges in all categories when comparing home sales in July with home sales in August. However, the days on market increased significantly, except in the $500,000 to $1M price range.
Longmont continued its stellar sales pace. The price per square foot in Longmont increased in every price range except at $2M and above. With only one home sold at this price point it is difficult to quantify a trend.
This data confirms that Boulder County is a great place to invest your housing money. With other localities seeing dramatic market shifts downward, Boulder County’s real estate market is on an even keel, so far.