A quick market update for buyers, sellers and investors in Boulder Valley real estate.
Rich's Boulder Valley Real Estate Report
Increasing Volume, Slower Appreciation
SECOND QUARTER STATISTICS show that the Boulder County real estate market is still appreciating, but not as fast as it has been over the last few years. Median prices are up about 5% over a year ago for both single family homes and attached dwellings. Last year, median prices rose 14% for single family homes and 30% for attached dwellings. It's interesting to note that sales volume has not slowed at all. In fact, the number of new listings and closed sales increased this year over last. It's because of this increased inventory that we're seeing lower appreciation rates in 2017. This is a good thing in my opinion! Traditionally, the Boulder County real estate market experiences periods of rapid appreciation followed by periods of moderate appreciation, as opposed to periods of falling prices. This pattern has made Boulder County the most stable real estate market in the country (see the article below). It's too early to tell if the current trend will continue, but I'll watch the stats and keep you informed.
I hope you are having a wonderful summer. Please don't hesitate to contact me if I can help you, a family member or a friend with any real estate needs, even if they just want to ask a question. - Rich
Area Home Sales
Market Stability in Boulder
FOR THE THIRD YEAR IN A ROW, analysts at SmartAsset.com pegged Boulder as the #1 real estate market for growth and stability in the U.S. Their research shows that since 1992, home prices grew 314%. During that time, home prices never once saw a decline of more than 5% in Boulder - not even during the national foreclosure crisis. That stability means homeowners in Boulder have been spared the stress of depreciation, while reaping the benefits of price appreciation. Colorado's Front Range showed strength across the board, with Fort Collins moving from #6 to #3 since last year, and Denver going from #9 to #8. Read the full report.
30 year fixed conforming 4.0%
5/1 ARM conforming 3.375%
7/1 ARM conforming 3.5%
15 year fixed 3.25%
30 year fixed jumbo 4.0%
5/1 ARM jumbo 3.25%
7/1 ARM jumbo 3.375%
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.