The Boulder Real Estate Market in June
So, what's happening out there for buyers and sellers? There's actually good news for both sides of the table.
First, month-over-month, the average price for a detached, single-family home in both the city of Boulder and Boulder County as a whole decreased.
In Boulder, prices dropped from $1,526,942 to $1,438,478. Across Boulder County, the average price dropped back under a million to $988,939. Good news for buyers.
Of course, these numbers are still up year-over-year, so also good news for sellers.
This drop in prices could be due to some buyers taking a break from house-hunting to go on a summer vacation or an influx of inventory. In Boulder County, 593 new listings came on the market. That's 143 more homes for sale than in May, even a 7.4% increase over June of 2020.
In addition, days on market also ticked up slightly month-over-month.
However, overall inventory remains low and sales remain strong. In the city of Boulder, there are just 1.3 months of inventory available, down 51.9% compared to June of 2020. Looking at the County numbers, we have 0.8 months of inventory, a decrease of 68% year-over-year.
A balanced real estate market is 4-6 months of inventory. So, even with more homes for sale last month, it's just not enough to meet the current demand. These numbers would need to climb consistently over the next several months, however, the market typically slows down in the fall, so we'll see what happens.
Thus, for now, the advantage remains with sellers. This is why homes in Boulder sold for 104.7% of their asking price last month compared to 99.9% in June of 2020. Across Boulder County, homes sold for 105.9% of their asking price compared to 99.8% in the same month last year.
The most important takeaway is that this market is constantly changing which is why you need a true professional and market expert by your side, whether buying or selling. Our PorchLight agents have not only been monitoring these stats but helping clients successfully navigate its opportunities and challenges. Feel free to contact us for assistance with your real estate needs.
Thinking About Buying or Selling a Home?
Whether you're a buyer looking to enjoy that uniquely Boulder lifestyle or a seller who wants to get on the market before things cool down further in the fall, you may be wondering about what it will take to get from start to the closing table.
Let's do a quick breakdown of the steps. You can read more about the process in our previous blog.
Home Buying:
- Determine your budget and secure loan pre-approval (not just pre-qualification)
- Choose a local real estate agent who is a market expert and able to guide you
- View homes that match your unique criteria and schedule tours with your agent
- Submit a strong offer that’s strategic but doesn’t leave you open to financial risk
- If your offer is accepted, provide the earnest money funds and go under contract
- Complete your due diligence—appraisal, inspections, mortgage finalization, etc.
- Once you're cleared to close, sign a mountain of paperwork and get the keys
Home Selling:
- Choose a real estate agent who provides first-class service and smart strategies
- Prepare your home for sale—PorchLight can provide all the services you'll need
- Your home will be shown online, via open houses and through private showings
- Your agent will present all offers, discuss and help you choose the strongest one
- Once you accept an offer, you'll be under contract and your home held in escrow
- If issues arise with an appraisal or inspection, your agent will help with next steps
- Once the buyer's funds are cleared and all the paperwork is signed, you’ll be paid
Ready to take on the Boulder real estate market? Contact your PorchLight agent or let us connect you with one of our experts. Our team is here to make the process simple and as worry-free as possible while helping you make smart real estate decisions. Contact us today.
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