• Client Info
  • Realtor Info
  • Seller Login
  • Contact

Boulder Property Network

Boulder Property Network

Boulder County Real Estate

  • Home
  • Search Real Estate Listings
  • Duane’s Timely Topics
  • Results Count
    • Why We Work by Referral
    • Testimonials
  • Our Team
    • Timmy Duggan
    • Barb Passalacqua
    • Kelsey Jensen
    • Duane Duggan
  • Real Estate Blog
You are here: Home / Boulder Market Reports / Is the Real Estate Market Shifting?

Is the Real Estate Market Shifting?

February 4, 2023 by The Boulder Property Network

After 10 years of boom, can we say the real estate market has shifted — and will it bust?

After 10 years of boom, can we say the real estate market has shifted — and will it bust? (Photo: Pexels).

BOULDER – The Boulder County real estate market has been robust since the end of the recession in 2012. None of the boom markets since the 1980s have lasted as long as this one. After 10 years of boom, can we say the real estate market has shifted — and will it bust?

It was right about Easter weekend in 2022 when showings on for-sale properties dropped off rapidly.  After enjoying historically low mortgage interest rates for years, rates ascended quickly, decreasing the homebuyer’s purchasing power. As rates rise, homebuyers considered offering home sellers less in order to offset the increased payments due to the higher rate. However, it takes a much lower price to keep a mortgage payment the same if the rate has gone up, even only 2%, so it is difficult to balance out. One thing that has been a constant about interest rates over the years is that they climb swiftly and tend to drop slowly. When rates rise fast, buyers hesitate and hope that rates will go down. That happened in the ‘80s and rates didn’t go down for a long time. 

Let’s take a closer look below at Boulder County market indicators from 2022 based on the annual real estate report by Todd Gullette, Managing Broker of RE/MAX of Boulder.

Showings on active listings
Showings dropped off dramatically at the end of April 2022 as rising interest rates forced many buyers out of the marketplace.

Supply of homes
2021 had the lowest supply of available resale homes in the last 20 years. In May 2022, inventory rose above the 2021 inventory level and stayed above the 2021 level for the rest of the year. 2022 was still the second lowest level inventory in the last 20 years.

Percent under contract
Using 50% as a balanced market, all market segments above went from over 50% under contract in 2021 to under 50%.  This indicates a softening market.

List price to sales price ratio
The sales price to list price ratio remained about 100% in all market segments listed above. This  indicates that the market is still strong.

Months of inventory
Months of supply available increased in all market segments listed above, but not to a tipping point towards a buyer’s market. Above 3 months supply would be an indicator that the market is leaning towards a buyer’s market.

Days on market
Some market segments went up in days on market and others down. There wasn’t a significant amount of change either way. Ninety days usually indicates a balanced market and the days on the market are still well below that. Another indicator is the market that still has strength.

Direction of average and median prices for single family homes
Average and median sales prices increased in all categories from 2021 to 2022, but generally not as fast as a few years prior. Given the fact that all the numbers are increasing in the positive direction, the market still shows strength.

Other trends indicating a “calmer market”
When a housing market calms down, a few other indicators are observed. Since houses in general aren’t selling as fast, the number of Realtor® open houses starts to increase. Sellers become more open to inspection and a variety of other contingencies. There might be listings that still get multiple offers, but not as many offers as the recent past.

Remember, all real estate is “local,” right down to the specific street sometimes. Be sure to consult your Professional Realtor® regarding how market shifts affect your property.

By Duane Duggan. Duane has been a Realtor since 1982. Living the life of a Realtor and being immersed in real estate led to the inception of his book, Realtor for Life. For questions, e-mail DuaneDuggan@boulderco.com, call 303.441.5611 or visit BoulderPropertyNetwork.com.

Single Family Homes Real Estate Market, January 2023, Duane Duggan

Filed Under: Boulder Market Reports, Boulder Real Estate Blog, Duane's Timely Topics Tagged With: #bouldercountyrealestate, #boulderrealestate, #coloradorealestate, #firsttimehomebuyer, #housingmarket, #RealEstate, #realestateinvestments, #seniorhousing, realestatemarket

Contact Us

  • This field is for validation purposes and should be left unchanged.

Blog Archives

Featured Listings

$199,700For Sale!1199 Brainard Lake Ward, CO 80481View Listing
Lot 12: $173,000 / Lot 13: $174,700For Sale!0 5th St (Lot 12 & 13)Nederland, CO 80466View Listing

See all of our listings.

Recently Sold Properties

389,700Sold3365 Chisholm Trl B101Boulder, CO 80301View Listing
$2,997,000Sold3080 Galena WayBoulder, CO 80305View Listing
$649,700 Sold271 Jefferson AveLouisville, CO 80027View Listing
$628,700Sold170 Golden Gate Canyon RdBlack Hawk, CO 80422View Listing
$655,000Sold2323 Buttercup CtSuperior, CO 80027View Listing
$595,000Sold1513 Sepia AveLongmont, CO 80501View Listing
$873,000Sold5455 Lee Hill DrBoulder, CO 80302View Listing
$451,000Sold311 Windance RdEstes Park, CO 80517View Listing
$235,000 / 280,000Sold765 Pine St & 797 Pine StNederland, CO 80466View Listing
$770,000Sold705 Club Pl.Louisville, CO 80027View Listing

Tweets by BoulderPropNet

Download our App

Boulder Property Network AppGet the Boulder Property Network mobile app to start your search for a new home right from your phone or other mobile device!

Download it here >>

Neighborhood News Report

How's the market? We can provide you with accurate information on the real estate market activity (Listings , Sales & more) in the area you are most interested in!

Get your Neighborhood News here >

Free Home Valuation

Free Market ReportBoulder Property Network can provide you with the information that you need to make a plan for your real estate purchase or sale.

Get your home valuation >>

Looking to Sell?

Looking to Buy?

Information for Investors

Recommended Reading for REALTORS®

REALTOR® for Life

by Duane Duggan

realtor-for-lifeWhat does it take to be a REALTOR® for life? This book provides first hand knowledge from one of the most distinguished and active careers in real estate. Duane Discusses his newly published book here.

Purchase on Amazon

© 2023 Boulder Property Network • RE/MAX of Boulder Inc.
2425 Canyon Blvd. #110, Boulder, CO 80302
800-825-7000 x611

Boulder Property Network on FacebookBoulder Property Network on TwitterDuane Duggan on LinkedinOur listings on YouTubeDownload our Listings App
Site Map