Fierce buying competition has dominated the Boulder Valley real estate market for over 5 years. Demand has far exceeded the supply of homes, town homes, condos and investment properties on the market. A strong economy, robust job market, influx of new residents and low interest rates have driven these conditions. In addition, the stock market's dramatic rise has resulted in more people purchasing real estate as a "real" investment, in order to hedge against a potential stock market correction. With all of these factors continuing, the first quarter of 2018 shows no signs of waning.
The 30-year fixed interest rate is currently at 4.0%, which is slightly lower than a year ago, but experts predict that rates will rise to 4.5% in 2018. While still historically low, an increase in interest rates will make buying less affordable in an already difficult market for buyers. This may add a sense of urgency for buyers early in the year.
The first quarter is traditionally an excellent time for sellers to be on the market and 2018 should be no exception. For buyers, being on the market early in the year to get ahead of appreciation and increasing interest rates is a good idea.
Intelligence in a fast paced market yields better outcomes for everyone. Kicking off my 25th year in the business, I'm very proud to have helped so many buyers find, negotiate and successfully purchase homes here in Boulder County. I've also helped many sellers maximize their opportunities by offering measured guidance that results in low-drama, high-yield sales.
It is very easy to make mistakes in a fast-paced market. In 2018, it continues to be important for both sellers and buyers to put experience on their side. If you or anyone you know is considering selling, buying or investing in real estate, I'm happy to help. Please call me anytime, 303-931-6979. Best, Rich