The Boulder Real Estate Market in July
Boulder is known for bucking trends and doing its own thing and the real estate market is no different. While you might have seen the news declaring a big slowdown (actually quite typical for this time of year) the July numbers for Boulder real estate aren't aligned with this narrative.
Back in June, the average price for a detached, single-family home in both the city of Boulder and Boulder County as a whole decreased. Month-over-month, prices in Boulder dropped from $1,526,942 to $1,438,478. Across Boulder County, the average price dropped back under a million to $988,939.
Now looking at July, detached, single-family homes in both the city of Boulder and Boulder County as a whole went back up.
Boulder single-family homes jumped back up to an average sales price of $1,598,515. Across Boulder County, prices increased to $1,042,325.
So, what gives? Perhaps, this is due to a drop in inventory which has been the year-over-year story for months now—currently 52% lower than the previous year.
Specifically tracking month-to-month inventory, we saw a big influx of new listings for sale in June, 593 across the county. In July, that dropped to 452. In the city of Boulder, new listings dropped from 189 in June to just 110 in July.
Meanwhile, if buyers took a break from house-hunting to go on vacation in June, they were back last month. Accordingly, across the county, days on market dropped by 5 month-over-month to 27. That's also a 34% decrease compared to July 2020.
The bottom line is that there just isn't enough inventory to meet the demand, and demand has yet to show signs of a typical, late-summer or fall slowdown. Will it arrive as school starts or winter sets in? We don't have a crystal ball but will provide updates as we get them.
And whether you're a buyer or seller, make sure you have a knowledgeable professional and market expert by your side. Our PorchLight agents have not only been keeping a close eye on these stats but helping clients achieve their goals in a constantly changing market. Feel free to contact us for assistance with your real estate needs.
With PorchLight Real Estate Boulder, the Results Speak for Themselves
If you're thinking about selling your Boulder home, you can trust that your PorchLight agent has mastered the pricing and marketing strategy needed to potentially provide you with a faster sale and higher return on your investment. Our numbers, compared to the competition, speak volumes.
PorchLight Boulder | Full Comparison (PDF)
First, your PorchLight agent will determine a current and accurate value for your home by conducting a Comparative Market Analysis. They'll also walk through your home and discuss all the details that might give it a selling advantage. New air-conditioning? Stunning views of the Flatirons? Luxury upgrades and designer finishes? They can all make a difference.
Their next step is to analyze Boulder's market trends. While 2021 has been in favor of sellers, things can change. While it seems like Boulder is continuing to be an in-demand market, a deceleration can come at any time. All the reason to choose an agent who can get you top dollar for your home by pricing the smart way.
And to get your home on the market, every PorchLight agent is supported by an in-house team of pre-listing, technology and marketing professionals. From cleaning and staging to photography and luxury marketing materials, we'll provide everything you need to ensure your home makes the very best impression.
Before you know it, you'll be accepting an offer and cashing in on a big return on investment. To learn more, please get in touch!