BOULDER – It’s been a tumultuous couple of months with all the people displaced by the Marshall fire. The amount of support received from our community and beyond is heartwarming. On Feb. 28 at 7 p.m. an online Marshall Fire Benefit Concert with blockbuster stars such as Lyle Lovett, Dave Matthews, Wyonna Judd, Bob Drabkin and Sarah Jarosz will be streamed. Get your $10 concert tickets at: marshallfirebenefit.veeps.com.
If you can’t attend it live it will be available to be watched for 24 hours afterward.
With only 107 single family homes for sale in Boulder County in January, there obviously isn’t enough inventory to house the people in the 1000 plus homes lost in the fire. Prices increased an average of 9.7 percent since last January, and over 4 percent since December 2020. The decline of 54.5 percent of homes for sale isn’t going to make life any easier for these displaced people.
The number of Boulder homes for sale declined almost 60 percent compared to January 2021. The price per total square foot only increased by 2 percent even with only a half a month of inventory (a 3 month’s supply of homes is optimal).
January was a great time to sell your single family home in Erie with an average increase of 26.6 percent since last year accompanied by a 25.5 percent increase in the average total price per square foot. Even with this increase based on price per square foot Erie continues to be the most affordable place to purchase a single family home in Boulder County. Inventory in Erie also declined from an abysmal 0.3 month’s supply to 0.2 month’s supply.
Single family home prices in Lafayette were up an average of $35,000 compared to December 2021. And, the average sold price was up 27 percent compared to January.
The average price for single family homes in Longmont fell approximately $53K compared to December. And, the average price per total square foot fell by $17.
Wow! The average sold price of a home in Niwot rose almost $1M compared to December 2021. And, the average price per total square foot was up $26 since December and up 27.6 percent since last year. Niwot continues the trend of a dismal lack of inventory throughout Boulder County.
What’s the future of the housing market in Boulder County? With the influx of buyers displaced by the fire and the lack of inventory I expect prices to continue to rise considerably. If you are thinking about selling your home now is a great time to take advantage of the large number of buyers clamoring to purchase a home.