First Happy Holidays to you and your family. This is always a time of reflection and excitement for what the New Year will bring. Overall it looks like 2019 should be positive, but a little more reserved than years past in the world of real estate.
November continued to be a strong Real Estate Market for Boulder County with the Month’s supply of inventory dropping slightly when compared to last year for detached homes. We are certainly beginning to see a settling of appreciation with the Median Sales price being fairly flat compared to November 2017 at .7%.
The Town Home Median sales price was substantially higher at 19.4%. This number is a bit misleading because of all the new inventory coming on the market by projects such as the Peloton. Even taking this into consideration it does appear there is still a little more elasticity in the attached dwelling market.
Pricing correctly still seems to be the name of the game as we see the homes that sell are selling at an average list price to sale price ratio of 98.6%. Buyers have become used to paying close to list price and as a result, we are seeing homes that are overpriced are just not getting offers.
Expect the first quarter of 2019 to be very similar to 2018, but with slightly less appreciation. We are entering the year with minimal inventory, rates have retreated slightly and we continue to get good news for job activity from companies such as Amazon, Apple, Microsoft, Twitter, and many others.
As is always the case Real Estate is hyper-local based on location and price, so if you have a specific question, give us a call, we are here to help.
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