The real estate market continues its wild ride compared to a year ago. The average price of single family homes throughout Boulder County was up compared to May 2020, but down in all but Lafayette and Louisville compared to April 2021. With listings down an average 66 percent to 90 percent throughout the county I foresee another huge price increase for June house sales. But, we shall see!
The average sales price in Boulder was up almost 38 percent compared to a year ago but down over $100K compared to April. The number of homes for sale held steady so prices should not fluctuate too much in June.
Average prices in Erie fell approximately $85K from April to May accompanied by a lower cost per square foot. Listings are down slightly so prices in Erie should continue to hold steady from May to June in Erie.
Wow. The average price in Lafayette rose over $100K from April to May. And, the cost per square foot increased by $25. The average of nineteen days on the market in Lafayette indicates most home sales there are for cash.
Prices in Longmont held steady since April but rose 32.5 percent compared to last May. Listings are down significantly both compared to last May and to April of this year. I foresee Longmont continuing to be a HOT market because of this continued lack of inventory of homes.
Louisville’s low volume of homes for sale and solds make it difficult to predict trends. Home prices rose twenty-three percent since last year and about $40K since April. Louisville also lacks significant inventory with most sales there going to cash buyers.
The inventory of homes for sale throughout Boulder County is down 66 percent to 90 percent compared to May 2020. And, it is also down compared to April. This lack of inventory could negatively impact prices as some buyers have dropped out of the market due to frustration at their inability to find a home. And, many potential sellers aren’t selling because they are concerned about finding their new home. Some creativity is needed to get the housing market back to normal so buyers can buy and sellers aren’t afraid to sell.
By Mary Hill. Mary is a Realtor at The Hill Group, Coldwell Banker. Call 303.808.7796, e-mail [email protected] or visit cofrontrangelife.com.