Febuary Market Updates
Hello Boulder, Colorado residents here is the market update for February 2023. It's interesting to see that the average sale price for single-family homes have decreased compared to the previous month, with the average being $1,767,707 and the median being $1,474,600. The condo market, on the other hand, has an average sale price of $821,074 and a median of $583,000. It's impressive to note that the high sale for the month was $5 million.The active listings have increased to 182, with 132 new listings in February. The current inventory in Boulder is 1.5 months of inventory, which is relatively a tight market.The average days on market has decreased to 34 days, and the average list-to-sale price has gone up to 98.9%.
The high-end market in Boulder is a competly different story, with 45 homes currently on the market over $3 million, which is 5.9 months worth of inventory. meaning that it could take up to 6 months for a home to sell if its value is above $3 million.
Longmont Colorado Thank you for sharing this market update for Longmont residence in February. It's great to see that the average sale price for single-family homes has gone down, while the average sale price for condos has gone up. The high sale for the month of February is impressive, at $1 million.
Active listings in the city of Longmont is down to 185 homes, and there were 115 new listings in the month of February. This indicates a continued tight housing market going forward, with a current inventory of 1.6 months.
The average days on market is 51, which is a reasonable amount of time for homes to stay on the market before being sold. It's encouraging to see that the list-to-close sale price is 98.7%, indicating that sellers are able to get close to their asking price. I expect this to increase though the summer real estate market.
Thank you for sharing this market update for February 2023. It's interesting to see that the average sale price for single-family homes in Boulder County is $1,122,346, while the median price is $800,000. The average sale price for condos in the county is $680,102, with a median of $525,000.
It's impressive to note that the high sale for the month was $5 million, located in Boulder, Colorado. The active listings have decreased to 511 properties for sale, with 335 new listings in February. The current inventory is 1.5 months of inventory, which is relatively tight. The average days on the market is 47, and the list-to-sale price is 97.6%, which has increased.
Thank you for reminding us that time in the market beats timing the market. It's always wise to purchase a home when you plan to stay in a place for three to five years or more.
As a follow to the Market as a whole. Suppy and demand is in full swing. Homes can and will sell for the most amount of money in the least amount of time when its compeling, and priced right. One the other side of the equation buyers have a unique oppertunity because so many buyers are currently sitting on the sidelines be cause rates that have increased since the summer of 2022. More and more buyers to enter the real estate market as they become used to the higher rates going forward. Its allways a good reminder that time in the market beats timing the market evertime. It's always helpful to have access to knowledgeable professionals in the real estate industry. So reachout if you have any real estate questions.