Neil Kearney

Boulder County Statistics March 2011

The numbers for the first quarter in Boulder residential real estate sales and the findings are not all that surprising. Sales are down roughly 10.3% from last year. But before you get too worked up about another 10% loss in the market remember that last year our sales were overly active in the early part of the year because of the home buyer tax credit. Last year we had an unusually busy first few months only to fall off the cliff after the expiration of the stimulus. This year we are on a more traditional path. All price ranges are selling and our activity is actually pretty strong as a percentage of active homes that are under contract (over 20%). Inventory is down but we are seeing new listings on the market every day. We are in the midst of a good spring market we just have had a bit of a slow start. I am optimistic that 2011 will be a good year in Boulder real estate. To see the comparative statistical charts click on the presentation above. Choose full screen for best viewing.

I have just completed the comprehensive guide to the Boulder Real Estate Market for 2010. The guide includes market statistics and analysis for all Boulder County including; Boulder, Louisville, Lafayette, Longmont, Erie, Superior, Gunbarrel and the Mountains.

Concise and easy to read, this report tells you why median prices went up despite depressed sales. No cost and no obligation. Just send me an email and I will send you the report. I always protect and respect your personal data.

Send a message to Report@NeilKearney.com and I will send a copy right out.

For more market statistics from Boulder Colorado go to http://www.NeilKearney.com/statistics

December turned out to be a good month in Boulder real estate.  Sales were up 15% from November and up 9% when compared to December of 2009.  Median prices in Boulder County continue to be higher than a year ago.  This seems strange because prices haven't really increased.  But median price only counts the sales price of one property which happens to have the same number of homes which sold for more money and less money.  This year after the tax credit expired, sales of entry level homes in the Boulder area decreased sharply while the sales of higher priced homes continued.  Think of the market shifting up a few notches not prices rising.

I have all of the year end numbers all added up, I just need to find the time to put it all together.  Stay tuned for more on the Boulder real estate market in the coming days.

To obtain a year end, comprehensive market report go to my2010 Boulder Colorado Market Report  To see past months go to www.NeilKearney.com/statistics

The number of sales in the Boulder County luxury market ($1,000,000 and greater) showed an increase during 2010.  The luxury market has more to do with stock portfolio values than employment rates and after a year of recovery the equity markets showed enough strength to increase buyer confidence.  

The luxury market in Boulder County is considered a buyer’s market and buyers were looking for good values.  There are currently 254 residential properties listing for sale in Boulder County.  We are at low ebb because of the holidays.  Currently there are 19 homes under contract. 

Here are a few charts and lists which show the state of the luxury market in detail.

The number of sales of homes priced $1million and up increased 13.6% from 2009 to 2010.

The median price for homes that close for more than $1 million has been relatively stable at about $1.3 million over the past decade. 

Average Negotiation

Luxury Market                                                                Overall Boulder County Market

2010 – 8.18%                                                                      2010 – 4.17%

2009 – 6.77%                                                                      2009 – 3.81%

2008 – 5.51%                                                                      2008 – 3.2%

2007 – 6.18%                                                                      2007 – 3.15%

2006 – 5.99%                                                                      2006 - 2.78%

2005 – 5.32%                                                                      2005 – 2.44%

 Even though the numbers are larger the average negotiation off of the last list price of luxury homes is greater than the market in general.  Given the median sales price of $1,290,000 the average negotiation on a luxury sale this past year was just over $68,000.  Of course it is hard to generalize since each situation and home is different.

We have some wonderful listings coming up that are in the upper price ranges.  I would love to share our comprehensive marketing plan with you if you have a home to sell.

For the latest details on the Boulder area real estate market please view the attached presentation. As expected the market has slowed a bit due to the Holiday season. Despite the uncertainties associated with the economy there are still some great things happening in the Boulder real estate market. Did you know that there have been 32 sales that closed above $1.75 million? A pretty impressive number in a "down" market.