Boulder Housing Prices are Finally Dropping
Housing markets across Colorado are finally starting to slow down, and the same is true for Boulder county. Compared to this time last year, median housing prices in Boulder have fallen 3.7% and the amount of time a property is listed before selling has increased to 57 days. There are generally slumps during the summertime across the country for housing, but market experts believe that this will finally signal a plateau in housing prices in Boulder, which have been steadily increasing over the last five years despite wages not increasing at a comparable pace.
A plateau in the market signals a slowdown that will help keep the market level, helping to ensure that there are not wildly varied inflations and deflations in the market that tend to cause crashes. This plateauing has not taken effect across Colorado, however, as Denver is still seeing rising prices for houses and condos. In Broomfield, condos and townhomes have seen a 5.2% appreciation since the beginning of the year. Statewide, listed houses have increased 1.7% since last year, but there has been a slight dip in median housing prices.
A report from the Colorado Association of Realtors stated, “In Boulder County, it appears the days of the seller’s market are over. Buyers rejoice … prices seem reasonable and the bidding war days seem like a distant memory.”