Last year was predictable once it got underway—a Seller’s market and bidding wars were the norm. Then came the mad hatter from Moscow, inflation and interest rate hikes and we are all at sea. What we know is that, like the surf, things will keep on rolling but our compasses need calibrating.
Looking at sales statistics for Boulder County, roughly speaking the market can be divided into three sectors: City of Boulder, City of Longmont (each currently with approximately 150 Active Listings) and the Suburban Plains (currently with about 120 Active listings). The upward price trend of 2021 peaked in the cities in March/April this year and the current median sales price is down to about 86% of that peak in Longmont (detached properties only) and 88% in Boulder. The median price in the suburban plains west of Longmont, meanwhile, is still holding a little below the April peak (at 95% of peak) but prices east of Longmont—stretching into Weld County—appear to be showing an identical trend to the city markets. Below is a plot showing activity in Boulder City.