Give me a call at 303.589.2677

mark@bossertresidential.com

http://www.bossertresidential.com/

Activity in Boulder County has been surprisingly strong, although the market is normalizing with slowing appreciation, increased days on the market, and a small jump in inventory. January sales volume in Boulder increased 25 percent from the same period in 2019, although the median sales price has dipped. Longmont home prices jumped 8.3 percent compared to the same month in 2019, while Longmont’s sales volume increased more than 18 percent year over year. Inventory has bumped up close to 5 months, which still qualifies as a seller’s market, but compared to 2018 with 3.3 months of inventory, and 2019 with 3.9 months of inventory, the market is becoming more balanced with more options for buyers. In Boulder County, we are getting very close to full buildout under our current zoning and land use regulations. Also, people are staying in their homes much longer than they used to. In 2010 homeowners stayed in their homes an average of eight years before selling. In 2019, that number increased to 13 years.

Migration to Colorado has been slowing, but the states population is still growing faster than most of the US. Boulder County’s population growth ranks eighth in the state and is the eighth largest county in Colorado with more than 325,000 residents. The city of Boulder leads the state in population decline, while the in-migration peaked in the 1990s, 2018 saw a decline of 525 people. New business filings and renewals have slowed in Colorado, which could equate to a slowdown in job growth for 2020.

My prediction is the market will remain strong for the first part of the year, with prices rising and some properties fetching multiple offer situations, then cooling before the elections. People tend to take fewer risks with political uncertainty. Have a great month of March, and if you or anyone you know is looking to buy or sell Boulder County Real Estate, or just in need of additional information, I’d appreciate it if you pass my name along.

Give me a call at 303.589.2677

mark@bossertresidential.com

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