Boulder’s housing market has been on the steady climb for many decades, as it consistently lands on best place to live lists throughout the country. It’s no secret that home prices in Boulder are on the higher end of the nation’s real estate market. However, there’s never been a better time to buy, since Boulder’s popularity won’t be waning anytime soon. Here’s a current snapshot of our city’s housing market.
Inventory is in short supply
Fewer people are leaving Boulder than are moving to the city or looking to upsize their current residence. Compared to 2020, 2021 is experiencing even less inventory, which was already falling below 2019’s numbers. Both attached single family and detached single family homes are not as available throughout Boulder.
It’s likely that inventory remains low because of the country’s red hot housing market. The current real estate climate puts individuals with multiple homes in a great place to offload additional property and walk away with a much larger chunk of change because they don’t have to buy something immediately. Unfortunately, in this seller’s market, those with one residence are hesitant to upsize or change homes; while they will make a fair amount selling their property, they’ll have fewer options with a high price tag when they search for their next home.
Summer remains the best time to sell
Over the past three years, June through August has offered the most inventory for buyers wanting to plant roots in Boulder. Additionally, the summer months see both detached and attached single-family homes going quickly, with listings spending the least amount of time on the market during this period. If you can hold out, buy in the off-season but sell during these peak months.
The sweet spot
October 2021 shows that the greatest number of detached single-family homes in Boulder County sold somewhere between 600–800k. However, some of these homes sold in this bracket due to offers well over the seller’s asking price. Attached dwellings were likely to go for 300 to 500k.
Those working in the million+ range do have less inventory to choose from, however, they may be better able to negotiate a price that is a win for both parties as these pricier dwellings are slower to move at asking price. Homes in the 3 million and up category spend the longest time on the market and usually necessitate a partnership with an experienced real estate broker.
In a nutshell, the housing market is great for both buyers and sellers. Sellers can make a good deal of money, and in most cases, not have to wait a significant amount of time for their home to sell. While the barrier to entry is high, buyers can rest assured knowing that their property will very likely continue to gain value quickly in the coming years.
By Jennifer Egbert. Jennifer is an award-winning, licensed Realtor® at milehimodern real estate in Boulder with over eleven years of experience. She specializes in Luxury neighborhoods, home builders and current market conditions. Visit jenniferegbert.com, e-mail [email protected] or call 303.619.3373.