A Glipmse into Sales Stats for Boulder County's Outlying Areas

2/23/2009

I have been taking a hard look at Boulder County sales statistics to see how this January's data compared to that of January 2008. Previously, I looked at the sales stats as they relate to single family residential home sales within the City of Boulder. In this article, I want to share the same statistics for the area known to Realtors and by the MLS as 'Suburban Plains'. This area includes the outlying/rural areas of Boulder and Longmont (not within the city limits) and includes all of Niwot, a prime luxury residential market...

• •    Sales volume is down 39%: Last January, 18 homes sold in Boulder County's suburban plains area compared to only 11 this January.
  •    Average 'days to contract' increased 14.6%: Homes that went under contract in January 2008 waited an average of 82 days before going under contract; this January the average 'days to contract' was 94.
  
• •    Available inventory is up 23%: Last January there were 187 active listings in the suburban plains district; this January there were 230.
  
• •    Median sales price increased 1.3%: This area's median sales price in January 2008 was $390,000 while in January 2009 it was $395,000.
  
• •    Average sales price up 42.2%: The average sales price of the 11 homes that sold in January 2009 was $665,949 compared to January 2008's average of $468,378. The sharp increase in average sales price without a sharp increase in median sales price can be attributed to a few significant high-end sales this January.

My advice for homeowners in Boulder's suburban plains is the same as it is for those in the City of Boulder. You must be realistic when selling during a downturn in the market. You should be priced competitively to garner the attention of today's buyers and you should be in the mindset that you will have to be negotiable to get your home under contract. Today's buyer is not always looking for the best home but rather the best deal.