A quick market update for buyers, sellers and investors in Boulder Valley real estate.
Rich's Boulder Valley Real Estate Report
Quick Market Update
Interest rates have edged up this year. The 30-year fixed rate is currently 4.75%, compared to 4.0% a year ago. Regardless, the real estate market in Boulder County remains strong. The number of sales so far this year are nearly identical to last year. In the city of Boulder specifically, the number of sales are slightly higher.
Millennials love Colorado. It's currently the #3 state for Millennial relocation, with four cities in the top 25 destinations nationally. Favorites include Denver (#8), Fort Collins (#17), Colorado Springs (#20) and Thornton (#25).
Boulder County cities are less popular among Millennials, and this is likely an affordability issue. We've been hearing about the "graying of Boulder" for years, but again, activity is high. Rising interest rates certainly impact first-time buyers more. It will be interesting to see if higher interest rates eventually slow things down. I'll keep tabs on the stats and let you know what I see.
If you want to discuss current market trends and ways to make the market work for you, p
lease contact me. I am always here to help you, your friends, family and co-workers with any real estate need, even if they just want to ask a question. I hope you are having a wonderful summer. - Rich
Area Home Sales
30 year fixed conforming 4.75%
5/1 ARM conforming 4.625%
7/1 ARM conforming 4.625%
15 year fixed 4.125%
30 year fixed jumbo 4.625%
5/1 ARM jumbo 4.0%
7/1 ARM jumbo 4.125%
Louisville Street Faire
RE/MAX of Boulder is sponsoring the Louisville Street Faire this summer, with terrific live bands every Friday evening. At the Steingbaugh Pavilion on Front Street, the Faire runs from 5 - 9:30 pm with music starting at 6:30. Enjoy excellent food, cold drinks, children's activities, arts & crafts, and, because of sponsors like RE/MAX of Boulder, it's FREE!
Just a few Fridays left -- don't miss it!
Lee Fields and The Expressions
Friends & Family
I appreciate your referrals and promise to provide excellent service that will make us both look good. Feel free to forward this e-newsletter or my contact details to anyone interested in Boulder Valley real estate. Thank you.