How's Real Estate Doing? A Flatirons Market Snapshot

"How's the market?" I get asked this question all the time, so I thought I'd share some statistics and insight into my local market -- the neighborhood covered by Flatirons Elementary (where my daughters have attended).

In general, sales are slow, with fewer homes sold than in previous years (34 last year, compared with 89 in 2006). This year got off to a good start, with 16 homes sold in the first four months (see list below), compared with only 10 in the same period of 2009.

As of May 13, there were 54 active listings, of which 6 were under contract -- about a year- to 18-month's worth of inventory.Values are holding relatively steady, with the price per square foot close to what it was in 2007 and up slightly from 2008.

But statistics can be deceptive, especially with a small sample size. If you look at specific homes that have sold several times in the past four years, you will see a slight softening of prices. For example, the home at 874 9th Street sold in 2006 for $613,000 and again last May for $605,000. Another home near 13th and Cascade sold in 2007 for $1,345,000 and is currently listed at $1,275,000 and under contract. With fewer fish in the sea, some home sellers are baiting buyers with lower prices. On the other hand, attractive or unique properties that are priced well can get gobbled up quickly.

Here's what has sold in the first four months of 2010 in the Flatirons market:















If you are interested in buying or selling your home -- in the Flatirons area or anywhere else in Boulder, please feel free to contact me for a custom market report. Call me at 303-473-2773 or email me at Monique@MoniqueCole.com.