You’ve heard me talk about what a crazy market we are in right now. Low inventory, high buyer demand. When will that change? I think we still have several more months of the craziness before things slow down a little. This is what’s happening with Under Contract (U/C) listings just in the start of March as compared to February.
U/C = Under Contract. Sections of the market that are bolded show where the number of under contract properties is up in March, in some cases quite significantly). Keep in mind in a normal or balanced market, at any given time 25-40% of the homes for sale will be under contract.
Single Family Homes
Boulder
under $500,000 – 76% U/C (was 59% in February)
$500,000-$750,000 – 57% U/C (was 49% in February)
$750,000-$1,000,000 – 26% U/C (was 19% in February)
$1 million – $2 million – 20% U/C (was 19% in February)
Denver
under $250,000 – 68% U/C (was 61% in February)
$250,000-$500,000 – 53% U/C (was 47% in February)
$500,000-$750,000 – 35% U/C (was 28% in February)
$750,000 – $1 million – 29% U/C (was 21% in February)
Condos
Boulder
Under $300,000 – 52% U/C (was 31% in February)
$300,000-$500,000 – 49% U/C (was 37% in February)
$500,000 – $750,000 – 23% U/C (was 37% in February)
Denver
Under $300,000 – 56% U/C (was 53% in February)
$300,000 – $500,000 – 44% U/C (was 38% in February)
$500,000-$750,000 – 31% U/C (was 19% in February)