If you are a buyer in today’s market, you know that inventory is VERY LOW. Multiple offers and sales over list price are not uncommon. The main reason for this is our lack of inventory. Let’s take a look at the numbers so you can see just how low inventory is right now. These numbers are for all single family detached homes in Boulder County.
What does this mean? If you have thought about selling or know someone thinking about selling please let me know. It is a great time to sell (yes I know it’s February).
Market demand is still there and interest rates remain low for serious buyers.
At the end of last year (2013) our single family home inventory for all of Boulder County was 507 homes. That is compared to an all time December high in 2005 of 1608 homes. Quite a difference! The all time high of available homes in our market came in July of 2006 when 2420 single family homes were available in the city.
Even with the low inventory the number of homes sold in 2013 rose 7.7% as compared to 2012.
What will happen next? With the current low inventory, prices will continue to rise and buyer’s will continue to have stiff competition for the few homes that are available.