Market Reports

Found 28 blog entries about Market Reports.

By Robert Kelly, LRA Owner/Managing Broker 

It has been quite awhile since I have reported any signs of a cooling effect in Boulder County, but the numbers appear to be bearing that out. According to Altos Research, home prices in our market have been trending downward quite significantly in recent weeks, as more homes are available and demand is declining.  We might expect this trend to continue, especially if the Market Action Index falls into the Buyer’s zone. While we do keep our eye on the area we serve in East Boulder County, this week's blog focuses on the movement we are seeing in our hometown, Louisville. The statistic we like to keep an eagle eye is on the number of listings that have reduced their prices: ready for it? Fifty-seven percent

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by Robert Kelly, LRA Owner & Managing Broker

I don't mean to sound repetitive but in our seasonal outlook here, Louisville remains a hot seller's market, with very little inventory on hand for eager buyers. As the table below shows, the median list price increased from $699,000 in May 2018 to a whopping $739,000 in early August. Louisville's inventory increased a little as the spring months transitioned to summer, and currently sits at 55 homes, which is actually a decent increase from 43 homes in May. "Days on Market" (DOM) has remained stable at 60 days in early August, which includes time to close. However, a big move this summer has been that 45% of sellers were offering price reductions as of early August, up from 28% in early May 2018, and way

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By Rob Kelly, LRA Owner & Managing Broker

Louisville, Colorado remains a hot seller's market, with very little inventory on hand for eager buyers who want in. The median list price of a single family home jumped from $625,000 in December 2017 to a whopping $699,000 in early May this year. Louisville's inventory did not change much from the dead of winter to early spring and currently sits at 43 homes for sale, which is actually only a slight increase from 39 homes in December 2017. 

Some of the metrics we pay attention to include "Days on Market" (DOM), which for Louisville decreased greatly from 86 days in December 2017 to 59 days in early May 2018, which includes time to close the transaction, so it is not a true reflection of how long a home

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By Cory Nickerson, LRA Associate Broker

By all general appearances, 2017 seems to be shaping up as another good year for those who sold homes, however, it may be brightening for buyers as well.  According to the Colorado Association of REALTORS® (CAR), "Colorado’s low inventory has caused frustration and a limitation on housing market growth. Luckily, statistics show a major increase for residential building in areas across Colorado."

Let's take a look at recent statistics for some of the East Boulder County towns we follow and see what has been happening since the selling season has slowed down. We typically see a slow down in inventory available and buyers who are serious after Labor Day. Now that we have almost a full year of data under our

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By Rob Kelly, LRA Owner & Managing Broker

This may not surprise too many of our readers, but Denver has topped another real estate list. This time for "Gentrification". This term was first coined by British Sociologist, Ruth Glass, in 1963, to describe the events that were taking place in the City of London.  In 2001, The Brookings Institute defined gentrification as "The process by which higher income households displace lower income residents of a neighborhood, changing the essential character and flavor of the neighborhood."

Thanks to our high paying jobs and desirable environment gentrification is no stranger to the Front Range. We have been observing this trend in Denver, Colorado for the past few years (maybe even earlier).

According

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By Rob Kelly, LRA Owner & Managing Broker

After months upon months of repeating myself that we are still in a seller's market in Boulder County, the tide may be turning. But don't expect prices to come crashing down, as this market continues to experience fairly high demand coupled with low inventory. However, we are seeing some prices are nudging downward a bit.  

In this week's blog, LRA has market reports for the four East Boulder County towns of Louisville, Superior, Lafayette and Erie, highlighting current inventory, average list prices and other market data for the past 90 days ending August 9, 2017. View the full details of this report highlighting key metrics here, courtesy of ColoProperties (Boulder Area Multiple Listing Service or MLS).

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By Cory Nickerson, LRA Broker Associate

"What is my home worth?"  This is by far the most popular question home owners will ask when when considering putting one's home on the market. That said, let's break down the process to help understand how to determine the difference between assessed, appraised and fair market values of a property and how they affect you as a home owner. 

Assessed (Actual) Value - In Colorado real estate property value assessment is conducted county by county. The Property Assessors Office for Boulder County appraises every residential property value in the entire county every two years and determines what is termed "Actual Value". County appraisers use algorithms, neighborhood sales and apply the assessed rate, which is

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By Rob Kelly, LRA Owner & Managing Broker

Dear Buyers, I'm sorry to say it again, but this is still a Seller's market in Boulder County.  It continues to be a simple case of too little supply and too great of demand as our market still experiences historically low inventory.  If you are left brain inclined and interested in the statistics for our greater Boulder Colorado area, check out this table that listing the sales inventory month by month here, courtesy of ColoProperties (Multiple Listing Service or MLS). If you would like to hear a story about some buyers in 2016 and where they are today, please read on.

You may remember hearing about folks, whom you may have thought paid too much for their homes last year? They actually gained anywhere

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By Cory Nickerson, LRA Associate Broker

I have been reading a lot lately about how our generation of millennials is currently the largest population in our country. By far.

Nationally, the US Census Bureau reports that the number of millennials (born from 1980 to 2000) totals 83.1 million, representing more than a quarter of the nation's population. Baby Boomers represent 75.4 million. Additionally, millennials are more ethnically diverse, with 44.2 percent being part of a minority race or ethnic group.

Since millennials are starting to buy homes, experts believe they will have a significant impact in shaping the future of our housing market.  In case you did not know, this group has values unlike many recent generations, which include things

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By Cory Nickerson, LRA Associate Broker

2016 was another good year for home owners! According to Zillow, home values in Colorado have increased 10.3% over the past year and it appears that 2017 will bring some more of the same with home values expected to increase by over 4%, particularly in Boulder County.  Real estate expert and author, Gord Collins, provides us with a short list of positive factors that will affect the housing market 2017 and beyond including the following:

  • Moderately rising mortgage rates
  • Low risk of a housing crash for most cities
  • Millennials buyers coming into their main home buying years
  • A trend to government deregulation
  • Labor shortages pushing up costs of production
  • Donald Trump and his “drain the swamp”
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