Boulder County Market Data Q3 2017
Q3 2017 market activity suggests that we remain in a seller’s market, albeit at a weaker level. The weakening conditions of a seller’s market are evidenced by the fact that fewer offers are being received per listing and the percentage of list price received is less than 100%, which means homes are selling less than list price. In contrast to this summer, during the hot seller’s market, it was common to see at least five or more offers per listing and sales prices far exceeding list prices. These conditions held true primarily for homes listed at $750,000 and under. Less of a seller’s market existed for homes priced above this level this summer and even more so as we move into the winter months.
The intensity of the competitive nature of our market has lessened noticeably. This is primarily due to the seasonality of the market that we typically experience every fall and winter as some folks prefer to settle into their current living situations to weather out the winter. We do expect market activity to maintain a healthy albeit slower pace through the winter due to the fact that mortgage rates remain far below five-year averages. When we compare our current market to that which existed one year ago, we again see fairly flat conditions. At the end of October, the inventory of single-family homes within Boulder County was the same as it was one year ago at approximately 2 months-worth and the number of homes sold YTD were virtually equivalent. The number of active listings, the amount which has sold, and the median sale price are all less than 8% greater than one year ago.