Remmert Group Boulder Market Report 2023

Boulder Market Report 2023

As you likely know, our Boulder County real estate market has thrived over the past three years, and home appreciation has been outstanding. However, the second half of 2022 saw an abrupt pause as interest rates increased at the highest and fastest rate in 40 years, causing both buyers and sellers to sit on the sidelines. This allowed our fall market to recalibrate to a slower pace and help level the playing field for buyers and sellers - a refreshing welcome after an abnormal market since the pandemic began in 2020.

At the same time, as we entered the New Year, January saw the market begin to ignite with mortgage applications up nearly 28% along with new listings, showing traffic and pending contracts. We suspect buyers are coming to terms with the increased interest rates as the new normal and at the end of the day, our challenge here in Boulder County has always been one of inventory. The demand exists but due to a variety of constraints, we have and continue to have a very limited supply. This in turn keeps our market perpetually resilient.

We are optimistic about our local real estate market moving forward, and confident everyone can take comfort in more time and space for informed decision-making. Despite ever-changing market conditions, one thing that will never waiver is our commitment to nurturing relationships founded on trust and honesty and ensuring our client’s decisions align with their larger goals.

Are you wondering how much the value of your home has increased since purchasing? We would be happy to schedule some time to take a look with you. As always, we’re here for you so please don’t hesitate to reach out anytime.

— The Remmert Group

Steve, Lindsey, Lucy, Vanessa, and Michelle

Market Statistics in Boulder County, Sales Under $3M (July 1st, 2022 - December 31st, 2022) City of Boulder Residential Detached ACTIVE UNDER CONTRACT SOLD* MONTHS SUPPLY OF INVENTORY: 1.18 MONTHS ACTIVE TO U/C RATIO: 51% 49 249 25 City of Boulder Residential Attached ACTIVE UNDER CONTRACT SOLD* MONTHS SUPPLY OF INVENTORY: 0.75 MONTHS ACTIVE TO U/C RATIO: 77% 35 277 27 *SOLD IN THE LAST 6 MONTHS DATA SOURCED FROM IRES, MLS

Boulder County All (Plains, City and Mountains) Residential Detached

248

1,386 160

MONTHS SUPPLY OF INVENTORY:

1.07 MONTHS ACTIVE TO U/C RATIO: 64%

Boulder County All (Plains, City and Mountains) Residential Attached

MONTHS ACTIVE TO U/C RATIO: 101.4%

Boulder County (Mountains) Residential Attached

MONTHS SUPPLY OF INVENTORY: 4.5 MONTHS ACTIVE TO U/C RATIO: 47%

ACTIVE UNDER CONTRACT SOLD*

MONTHS SUPPLY OF INVENTORY: 1.30

138 634 140

ACTIVE UNDER CONTRACT SOLD*

36 48

*SOLD IN THE LAST 6 MONTHS DATA SOURCED FROM IRES, MLS

17

Steve Remmert (720) 339-5033 steve@steveremmert.com Michelle Steiner (303) 746-2047 Michelle.Steiner@compass.com Lindsey Hughes (720) 456-2576 Lindsey.Hughes@compass.com Lucy Conklin (720) 470-0910 Lucy.Conklin@compass.com Vanessa Hilbert (303) 653-3054 Vanessa.Hilbert@compass.com 1470 Walnut St Suite 201/202 Boulder, CO 80302 steveremmert.com Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. This is not intended to solicit property already listed. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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