Real Estate Market Changes: Year-To-Date May, 2011

Single Family Home Sales

                                                           % Change                                     % Change

                    from ’10                                        from ‘09

            Boulder:                                        -17%                                            +31%

            Broomfield:                                   -19%                                               -3%

      Erie:                                              -17%                                            +18%

            Lafayette:                                      -13%                                            +24%

            Longmont:                                     -22%                                            -10%

            Louisville:                                      -15%                                             +3%

      Superior:                                       +8%                                              +8%

            Mountains:                                  -21%                                              +13%

            Plains:                                          +5%                                               +57%

Summary:  Home sales year-to-date May are generally down from last year but up from 2009.

Average Sales Price ’05-’10 + Year-To-Date May’11

                                                           % Change                                            % Change

                   from ’10                                              from ‘09

            Boulder:                                      +3%                                                     +4%    

            Broomfield:                                -14%                                                    -8%

            Erie:                                            -8%                                                      -9%

            Lafayette:                                   +6%                                                     +9%

            Longmont:                                  -6%                                                      -2%

            Louisville:                                   -9%                                                      +3%

            Superior:                                   +2%                                                     +1%

            Mountains:                                +3%                                                     -3%

            Plains:                                       +1%                                                     +2%

Summary:  Average home prices are up in Boulder, Lafayette, Superior and on the Plains and somewhat up in Louisville and in the mountains.

Average Year-To-Date May Inventory

                                                       % Change                                            % Change

                from ’10                                             from ‘09

            Boulder:                                   -3%                                                      -12%

            Broomfield:                               +7%                                                     -11%   

            Erie:                                         -14%                                                    -19%

            Lafayette:                                 -2%                                                      +2%

            Longmont:                                -8%                                                      -4%

            Louisville:                                 -18%                                                    -5%

            Superior:                                 +16%                                                   -9%

            Mountains:                              -14%                                                    -13%

            Plains:                                     -6%                                                      -11%

Summary:  Inventories are generally down everywhere.

Average Year-To-Date May Months of Inventory

                                                        % Change                                            % Change

                from ’10                                              from ‘09

            Boulder:                                   +17%                                                   -33%   

            Broomfield:                              +33%                                                   -8%

            Erie:                                         +3%                                                     -32%

            Lafayette:                                 +17%                                                   -18%

            Longmont:                                +18%                                                   +6%

            Louisville:                                  -4%                                                      -8%

            Superior:                                   +8%                                                     -16%

            Mountains:                                +8%                                                     -23%

            Plains:                                       -10%                                                    -43%

Summary:  Months of Inventory (absorption rate) are generally down from ’09 and up from ’10.

Average Days to Contract Year-To-Date May

                                                        % Change                                            % Change

                from ’10                                             from ‘09

            Boulder:                                  +11%                                                   +7%

            Broomfield:                             +28%                                                   -8%     

            Erie:                                         -9%                                                      +21%

            Lafayette:                                +33%                                                   +26%

            Longmont:                                 +9%                                                     +3%

            Louisville:                                 +17%                                                   -3%

            Superior:                                +63%                                                   +125%

            Mountains:                             -10%                                                    -12%

            Plains:                                     0%                                                        -10%

Summary:  Average Days to Contract are up.

Year-To-Date May Boulder, Broomfield County Home Sales Charts & Statisitics

How to Sell Your Home in a Buyer's Market

Months of inventory (inventory or listings divided by sales), also known as the "absorption rate", is used to determine if its a buyer's market (typically more than 5 or 6 months of inventory) or a seller's market (less than 5 or 6 months).

It's generally a buyer's market today, though not everywhere in Boulder and Broomfield Counties and not in all price ranges, so you have to check the segment that applies to your home.

Because of that competition it's a "beauty contest" out there and the home has to be presented (as a product or commodity) to the market in it's very best light.

Also, becasue of low interest rates, buyers are going to prefer having those desirable upgrades (think new kitchens and baths) included in the price of the home rather than making the improvements after they buy with non-mortgage funds.

For a detailed and frank analysis of yoru situation call Dagmar at 720-352-8285.

Boulder, CO area Plains April, 2011 Year-To-Date Home Real Estate Highlights

Plains sales year-to-date is up for the second year in a row.  Average price is up 7% from last year and 10% from ’05.  Average days to contract is steady just over 100.  Inventory shot up 2 years ago and has just inched down for the second year. Months of inventory has dropped in half from where it was in ’09 yet still is at over 13.  5 to 6 months of inventory mark the dividing line between a buyer’s and a seller’s market.  More than 5/6 months is a buyer’s market, less is a seller’s.

For details and a search or study tailored to your needs and future call Dagmar Alford at 720-35-8285.

Boulder April, 2011 Year-To-Date Home Real Estate Highlights

Home sales trail 2010 by 21% but are ahead of ’09 so far.  Average sales price is up 4% over last year and 12% over ‘05’s average.  It’s taking on average longer (100 days) to sell homes.  Inventory (listings) are down for this time of year for the second year in a row while its 11 months of inventory is up over last year.  This is more than double where it was 6 years ago.  5 to 6 months of inventory mark the dividing line between a buyer’s and a seller’s market.  More than 5/6 months is a buyer’s market, less is a seller’s.

For details and a search or study tailored to your needs and future call Dagmar Alford at 720-35-8285.

Broomfield April, 2011 Year-To-Date Home Real Estate Highlights

Sales are down 14% from last year yet Broomfield has not seen the precipitous drop other areas have.  Average sales price  -  so far  -  is off  15% from 2010, but only down 2% from where it was in ’05 after peaking in ’08.  Days to contract are up over last year, as is inventory after declining for 3 years in a row.  Due to increased sales and relatively steady listings months of inventory in April dropped to 4.7, a seller’s market!  5 to 6 months of inventory mark the dividing line between a buyer’s and a seller’s market.  More than 5/6 months is a buyer’s market, less is a seller’s.

For details and a search or study tailored to your needs and future call Dagmar Alford at 720-35-8285.

Boulder, CO Area Mountains April, 2011 Year-To-Date Home Real Estate Highlights

Mountain sales are off 58% from where they were 6 years ago and down again this year but the average sales price is up 9% this year and 8% over ’05 levels.  Days to contract dipped to an area low of 78 in April.  Inventory contracted 15% from last year and 20% from ’05 levels.  Months of inventory in the mountains has always been high, is up in 2011, now at 23, and is almost double from ’05.  5 to 6 months of inventory mark the dividing line between a buyer’s and a seller’s market.  More than 5/6 months is a buyer’s market, less is a seller’s.

For details and a search or study tailored to your needs and future call Dagmar Alford at 720-35-8285.