Welcome to the Boulder Area Real Estate Market Report 2020 Year in Review which also includes my 2021 projections! This year has been non-stop uncertainty. The coronavirus pandemic led to shutdowns and major changes to our everyday lives. Even so, the country quickly adapted to the shutdowns and major changes in our everyday routines. These constraints will most likely continue as we head into winter and spring.
Despite everything, the housing market is one thing that’s been consistently strong this year. While constraints have changed the way real estate agents have marketed properties, shown homes, and even closed on homes, the housing market has flourished this year. So, what do experts think next year will bring? Will that positivity hold steady, or are we in for a bust?
If inventory remains low into early 2021, it’s possible that home prices will continue to rise. The median asking price for properties in the U.S in September 2020, according to Realtor.com, was $350,000. That’s up 11% compared to last year. Inventory has declined 39% year-over-year, despite a quick burst of new listings in August. Increased demand and a dwindling supply are great for sellers but not so much for buyers.
Suburbs Reign Supreme
There has been a shift in interest away from urban areas, as many people are packing up to find homes with more space and less proximity to others. Some of the most popular areas in 2020 have included Colorado Springs, CO; Reynoldsburg, OH; and Rochester, NY. We could see continued flight from urban areas to suburbs in 2021.
If you want similar in-depth information and a breakdown of different areas including Boulder, Superior, Lafayette and Louisville download the full 12-page Boulder Area Real Estate Market Report YTD November 2020!
Helping You Make Informed Decisions Regarding Boulder Area Real Estate
I produce this monthly report to provide you with a high-level overview by looking at the patterns and trends. My goal is to help YOU make sense of the numbers so you can make an informed decision. It is my hope that this report helps you to ”See the Big Picture and All the Details!”
If you see a segment of the market that you would like additional help with understanding please contact me. Or if you desire a specific Home Estimate that I routinely prepare for my clients, please contact me, I would be happy to go to work and get that to you.
This report covers Single Family Homes for the Boulder, Superior, Louisville, and Lafayette communities in the Boulder area.
You will also see a ”slice” of the data by Price Range and by Area for Single Family Homes to provide a more insightful view of the market.
How can I help you with Your Boulder Area Real Estate Needs?
This Boulder Area Real Estate Market Report 2020 Year in Review and the level of detail is representative of what you can expect from me as your Real Estate Agent. I hope I can provide the same amount of expertise and insight for you when you are looking to buy or sell in the Boulder area.
Are you wondering what your home is worth in the current market? Do you have questions or want more information about something in the market report? Do you desire a specific Home Estimate that I routinely prepare for my clients? Please contact me or visit this link to get the ball rolling.
Luxury Home Specialist & New Home Specialist
Coldwell Banker Realty