Everyone seems to be panicking about the real estate market. The sky is falling; you’re going to lose your shirt if you sell your house now. Looking at the market stats comparing the sales of single family homes in Boulder County in June 2022 versus May 2022 this isn’t necessarily true.
Homes priced between $500,000 and $999,999 sold for slightly less in Boulder County as a whole comparing May to June. However, Longmont and Boulder homes received more in June than in May for this price range.
In the $1,000,000 to $1,500,000 home prices dipped in all but Longmont, which saw an average price hike of 5 percent.
In the $1,500,000 and higher range, Longmont and Erie had price increases of 3.6 percent and 3.7 percent, respectively.
The supply of homes on the market is also dependent upon the price range. Homes listed for under $1,000,000 have less than a two month’s supply. Longmont has the largest supply of homes on the market (over 5 month’s supply) above the $1,000,000 price point
Of all the towns surveyed. Boulder and Erie both have over a 3 month’s supply of homes above the $1,500,000 price point. These sellers can expect to have their homes on the market for a while before they receive offers.
But, there is NO reason to panic!