In March, the Boulder real estate market continued to pick up momentum. Most notably, days on market until a sale dropped from 87 in February to 66 last month. That's also much swifter than in March of 2024 when it was taking 89 days for properties to sell.
Other numbers were mixed. In the single-family market, 156 new listings hit the Boulder market in March compared to 126 the prior month and 130 the prior year (a 20% increase). This is giving buyers more inventory to choose from, though they aren't shopping around at such a leisurely pace right now.
Closed sales, which primarily reflect homes that went under contract the prior month, came in at 59 for March. While that was a decrease of 1.7% compared to 2024, it was a big increase compared to 37 in February when sales lagged by 43.9% year-over-year. So, we're seeing a significant improvement in this area.
At the close of the month, 287 homes remained on the market in Boulder, up from 236 in February and up by 24.8% year-over-year. The city now has 4.3 months of inventory, a 30.3% increase over 2024. Both of these numbers also showed big jumps over the prior month likely due to the influx of new listings.
As for price, Boulder's higher-end market and property values make this number a wild card. Usually, a big month-over-month increase in sales and drop in days on market would indicate a competitive market environment and there would be a bump in prices.
However, the median sales price for March was $1,500,000 compared to $1,925,000 in February. Still, prices came in 25% higher than the same time period in 2024. And that's with homes selling for an average of 96.6% of list price.
This could be due to larger estates or ultra-luxury properties selling, or perhaps, buyers rushing to buy and close before economic instability causes interest rates to spike. No matter the reason, it certainly makes the Boulder market hard to predict.
Sales and inventory will continue to be the numbers to watch in the coming months. Depending on which direction they go, the busy season could pick up even more momentum. Though prices will likely continue to reflect what types of properties hit the market.
Now, for townhomes and condos, a market that has seen its fair share of challenges. These properties have been tougher to sell due to a combination of high interest rates and rising HOA fees, but current sellers are still entering the market and finding buyers.
New listings climbed from 76 in February to 119 in March, an increase of 21.4% year-over-year as well. Sales also increased from 35 to 53 month-over-month and by 1.9% compared to 2024. Single-family home prices jumping by 25% year-over-year likely played a role in this sales growth.
While the March median price of $540,000 was a decrease compared to February, it managed a solid 9.6% increase over the prior year. Days on market came down slightly as well, from 76 in February to 73 in March. That timeline also decreased by 8.8% versus the prior year. However, inventory has now risen to 225 properties and 4.8 months of stock, both well above 2024 figures.
Boulder County Real Estate in February 2025
Countywide, new listings of single-family homes increased from 343 to 468 month-over-month and by 24.8% year-over-year. Sales also increased from 151 in February to 257 in March—which is about on par with 2024. In addition, the median price for March was $817,000. That's a solid jump compared to $765,000 the prior month, as well as a 2.1% increase year-over-year.
With so many new properties hitting the market, active listings still on market at the close of the month continued to climb, rising from 619 in February to 718 in March–that's also 32% above the prior year. Months of inventory came in at 2.9 and 26.1% higher YoY.
Zooming in, new listings in Louisville increased by 52.2% year-over-year while sales increased by 110%. The median price of $905,000 was up versus the prior month, yet down by 24.1% compared to 2024. Days on market came way down as well, yet inventory continues to rise.
Longmont sales increased from 59 in February to 102 in March and the median price climbed from $560,000 to $614,500—though that's still 1.7% below the prior year's median. City inventory also came in higher at 202 homes, a 41.3% increase year-over-year.
Over in Erie, new listings were up and sales jumped from 46 in February to 85 in March, an increase of 32.8% versus the previous year. The median price also showed solid growth, coming in at $748,325 and 6.1% higher YoY. Like other cities and counties, inventory continues to rise.
And across Broomfield County, sales grew from 49 to 58 month-over-month while the median home price of $735,000 increased by 17.6% year-over-year. Days on market decreased there, though inventory is up by 19.1% year-over-year.
Looking ahead, mortgage rates and economic uncertainty are likely to continue affecting the market. The market is flush with inventory, and buyers are not waiting as long to lock in a home and the best possible rates. Still, there are a lot of homes to choose from and room for negotiations, so now is a good time to come off the sidelines.
For help with strategy, reach out to an experienced real estate agent. They can assess the market and provide smart guidance, as well as negotiate for your best interests. A proven professional will have the market insight and professional connections to help you achieve your buying (or selling) goals no matter what happens next.
Why Now Is a Good Time to Buy
In today's market, buyers have more homes to choose from and more time to search for the right one. They can perform inspections, complete their due diligence, and potentially negotiate the price and terms. Other indicators that now is a good time to buy a home:
- You’ve found a great house and can comfortably afford both the mortgage and expenses that come with a home—taxes, maintenance, etc.
- You plan on being in the home for a while. Equity is typically gained at a rate of 3.5-3.8% annually. That won’t be the case every year, but that’s the historical average.
- You understand that mortgage rates change and you can potentially refinance to a better rate down the road.
- You work with an experienced agent who can potentially negotiate home repairs, seller concessions, even a mortgage rate buydown. They can also connect you with reputable loan professionals who offer the best rates and home loan options.
The Best Possible Mortgage Rate
If you’re stuck on today’s higher rates, keep in mind that your finances can have a big impact on the rate you get and the loan options that will be available to you. Areas to focus on include:
- Credit Score: As we all know, the better your score, the better your rate. So, check and repair your credit. Investigate and fix anything suspicious or inconsistent. To reduce your debt, determine what you can pay off quickly and keep revolving credit balances low.
- Debt-to-Income Ratio: DTI is monthly debt obligations (such as credit card payments, but not grocery costs or entertainment) divided by your gross income. Mortgage and home costs should be no more than 28% of your gross income, and once everything is calculated, your total DTI should be no more than 36%.
- Down Payment and Loan Amount: Buyers who pay more upfront are considered less risky by lenders and just need to borrow less. That usually leads to a better interest rate. In today’s market, sellers are better preparing their homes and are often more willing to negotiate repairs and concessions. You could potentially put more cash into your down payment instead of holding funds back to do work on the home after buying it.
Bottom line? Yes, it’s a good time to buy if you have your books in order and the right agent by your side. If you’d like to discuss your goals with a PorchLight advisor, feel free to contact us using the form on the right.
