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I love real estate market data! Specifically, I love boring market data. When the numbers look as they do below, I remain happy because it reaffirms that there has not been a significant swing in the marketplace. And that is good. The swift and significant swings are the ones which wreak some form of havoc in the marketplace, i.e., the pandemic push.
DATA DETAILS
My chart below examines seven neighborhoods, aka micro-markets, within Boulder County. I have custom-mapped these areas to examine the data for the ‘hoods most relevant to you. These areas perform quite differently from most others. (Way too often I receive generic, broad market 'analysis' reports from other brokers and it is useless. Worse, it can lead to misguided decisions). The YOY inventory below shows an increase of just a few points in most neighborhoods. In Boulder County, however, the inventory has increased 20%. Though we need to have context and know what's going on elsewhere, the status of your particular neighborhood is most integral to your ownership/selling/buying...decision making.
Below, the units for sale, sold, and the YOY changes are neither disconcerting nor worth celebrating. The numbers reaffirm what I have been seeing out in the streets over the past year: the market conditions remain steady, consistent. It has not changed significantly enough to tip the balance of the market. Indeed, a positive/negative value is good/bad indication of the trend, but it is only subtly good or subtly bad.
Here's a look at the micro-markets MAP
YEAR-OVER-YEAR to DEC. 1 | 2023 vs 2024
click on chart to enlarge
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