Boulder County in Top 10 for Real Estate Seller’s Market
Boulder County is currently a seller’s market, meaning:
- The market has more demand than supply, with low levels of inventory and a high absorption rate.
- Sales prices in the top 5% of the market are growing at or above 4% year over year.
- Positive yearly percentage change in both $1 million sales and absorption rates.
- Realtor.com analyzed data from January to the end of April 2019, in markets with at least 30 monthly listings on average and at least three monthly $1 million sales.
This bodes great for sellers! Rates are going up consistently, meaning your house is almost guaranteed to steadily rise in value. For buyers, however, this makes an already expensive city even more difficult to navigate. Some tips for buying in a seller’s market include:
- Do the research. Scour real-estate websites and pump agents for data. Know what has sold for what price.
- Pre-interview local contractors. To accept an as-is house, you need to ballpark how much repairs will cost.
- Get preapproved. If you don’t have cash, show the seller that financing is guaranteed.
- Act fast. Check for new listings daily and call the listing agent immediately.
- Waive contingencies. It is scary, but sometimes necessary.
- Write the seller a letter explaining why you love the house.