November sales were strong in the city of Boulder with 1,575 single-family, detached homes sold thus far in 2020. That's up 15.6% over 2019 at this point in the year, indicating that Boulder is a highly desirable place to call home. However, inventory is down 52.2% year-over-year, which has led to a decline in days to contract (58 for the month) and increased competition for available home inventory.
Some bright spots remain for homebuyers in the Boulder real estate market. Those low interest rates continue to provide more buying power, enabling you to buy more home for your buck. And while the average sales price in October of 2020 was over $1.3 million, November's numbers were at $1.2 million.
When looking at Boulder County as a whole, the same patterns are evident but not quite as severe in certain areas. New listings for the month of November were down year-over-year but only by 5.6%. And while sellers are typically receiving 99.4% of their list price in 2020 (up 1.9% year-over-year), overall average home prices are down a smidge from $796,637 in November of 2019 to $796,048 in 2020.
That's a lot of numbers and info to unpack, so feel free to get in touch with a PorchLight agent to talk more about how you can successfully buy or sell right now!
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