Home Buying in Boulder>Question Details

Jim S, Both Buyer and Seller in San Jose, CA

How hot is the low end market for condo's in Boulder (under $150k)?

Asked by Jim S, San Jose, CA Fri Aug 17, 2012

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Looking back at 2012 it is hard to say that the condo market was particularly hot if, by "hot" you mean a lot of buyers and a lot of sellers. Figures from the IRES MLS show that the inventory for all "attached dwellings" peaked at just over 500 units. In other recent years the peak was around 800 to just over 900 units. It probably seemed hot if you were a seller and frustrating if you were a buyer. Oddly, changes in average and median prices were all over the place, depending on location. Erie prices led on the upside with the median up 15.3 percent and the average up 27.2 percent, according to the Boulder Area Realtor® Association. But Superior prices were down considerably. The median in Superior was off 19.4 percent while the average price fell 21.7 percent.

Hi all: This question was posted in 2007, but it never hurts to update these older questions because they do come up in the search results. During a good part of 2012 it did seem as if the Ned market was particularly slow. However a recent check shows that there are 36 homes currently listed in Ned with six under contract. During the last three months 20 homes closed, meaning the "absorption rate" is reasonably good considering that this is generally a slower time of the year.

Kind regards,
Ron Rovtar
Prudential Real Estate of the Rockies
info@rovtar.com
http://www.rovtar.com
0 votes Thank Flag Link Mon Jan 21, 2013
to Jim S. in San Jose.
I'm quite late in answering this and wondering if you still want that answer. I can say VERY HOT, and still is. Example: In the summer I hlisted a condo at $106,000 and got 3 offers in 2 days and we wrote the contract over the list price.

Feel free to call for more info.

Evie
RE/MAX Alliance
evie@EvieCohenBoulder.com
303-507-7001
0 votes Thank Flag Link Fri Dec 28, 2012
Considering that even a $200,000 home with 10 percent down will probably cost a buyer with good credit less that $1,200 a month for a 30-year mortgage, it is hard to justify renting in this market. So, as others have pointed out. this price range is extremely hot.

Best,
Ron
0 votes Thank Flag Link Tue Oct 9, 2012
The entire Denver Metro area is moving fast for anything under $150K, seeing multiple offers on most homes.
0 votes Thank Flag Link Sat Aug 25, 2012
Check out Denver at No. 2 on this national list. Boulder is not included when talking about the Denver market. Usually, Boulder's experience is more extreme. What I've seen recently is a lot of movement, particularly for the under $250,000 part of the market in Longmont. I expect that is the case in Boulder, where inventory is thin.

http://homes.yahoo.com/news/u-s--cities-where-homes-sell-the…
0 votes Thank Flag Link Sun Aug 19, 2012
Hi Jim S.

The entire Boulder real estate market is hot, but the lower end isdownright scorching! In general, condo/townhouse sales have jumped considerably this year in all price ranges. Second quarter 2012 figures from the Boulder Area Realtor® Association show a year-over-year rise in sales of 30.2 percent. Days-to-contract fell 15.1 percent.

Keeping these figures in mind (along with the ones Dave Janis quoted below), the best advice I can offer buyers is to keep watching for new listings, have your mortgage loan application in place, and then move quickly when you see the right property. In other words, be prepared to make an offer at any time, but be patient about finding the right dwelling.

A good real estate agent can help you with this by referring you to good lenders and by using a combination of technology and good personal customer service to make sure you don't miss the best opportunities.

Kind regards,
Ron Rovtar
Prudential Real Estate of the Rockies
303.981.1617
ron@rovtar.com
http://www.rovtar.com
0 votes Thank Flag Link Sat Aug 18, 2012
It is moving very well with 28% of the inventory being under contract. There are 39 listed for sale under $150,000, 11 under contract, and 66 have sold so far this year. These condos have been selling for 96% of list price.

The hottest market is $300,000-$400,000 with 39% under contract...
0 votes Thank Flag Link Sat Aug 18, 2012
There is always a demand for low end condo's in Boulder because the University of Colorado is here. There are also many young professionals that want to live in Boulder because of all that Boulder has to offer and being close to the mountains. If you would like to see what condo's are available for sale under $150K, let me know and I would be glad to send them to you.
0 votes Thank Flag Link Sat Aug 18, 2012
Are you an investor, seller or searching for something for yourself? There are condos coming on the market all the time. If you are selling, it has been a good year, too especially for that range.

Best regards,
Suz
720.810.0683
0 votes Thank Flag Link Fri Aug 17, 2012
VERY HOT! Are you looking or selling a condo in Boulder?
0 votes Thank Flag Link Fri Aug 17, 2012
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