Sales Statistics, Analysis and Forecasting
Boulder, Longmont, Louisville, Lafayette, Niwot, Superior, Mountains, Broomfield, Plains

2010 1st Quarter Data
2010 2nd Quarter Data

First Quarter Analysis

Strong start to the year with good sales growth in all area MLS areas.  Beginning to see a turn around in median price but average price is down which might indicate that median price will be flat in the second quarter.  2010 1st Quarter Data 

Second Quarter Analysis

Second quarter sales indicate significant increases in the number of homes sold compared with the same quarter in 2009.  However, median and average prices for the greater market area as a whole were flat over a year ago meaning there has been no increase in value ooverall.  That said, at least homes didn't lose value over the past year. 2010 2nd Quarter Data 

Third Quarter Prediction

This looks to be a soft quarter.  The tax incentive is discontinued and across the country pending contracts are down 30%+.  In Boulder County pending contracts are down 26% for June and July.  Probably not a double-dip but this will be a recovery quarter

How does this impact the value of your home?

Each city, neighborhood and home has unique characteristics so a broad brush approach is not appropriate when evaluating the market value of your home. What I mean is that just because median price is up by 5% that your home is only up 5% or even up 5% at all.   I take a top-down approach to see where the market is moving then look to the city, neighborhood and price range to get an indication of whether you are likely increasing, decreasing or holding in value.  Then by use of recent comparable sales combined with the direction of the market I can estimate the value of your home - Market Value. 

Market Value is the price range which your home is likely to sell.  It is a price range because valuation is not a science in the strict sense of the word.  There are many factors that influence value from the finishes and condition of your home, views and specifics about its location, and even maybe even the reputation of your local school. These are not easily quantified into a specific dollar amount.  This takes years of experience and many home sales to develop a knack of understanding.  That is why it is important that you choose a Realtor who isn't at their "first rodeo" so to speak.  

So Where Should You Price Your Home?

Finally, determining a sales price and/or offer price depends upon the individual situation of each client and the market influences during the marketing of the home.  Again, an experienced broker can help walk you through the subtle nuances which can be the difference between a quick painless sale for top dollar or a long drawn out process full of frustration and a low payoff.