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Boulder County Real Estate Statistics March 2020

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Real estate statistics for Boulder County for the month ending March 2020. Presented by Neil Kearney of Kearney Realty Co. in Boulder Colorado. For more detailed information like this go to http://www.NeilKearney.com

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Boulder County Real Estate Statistics March 2020

  1. 1. Boulder County Real Estate Statistics March 2020
  2. 2. Copyright 2020 Neil Kearney, Kearney Realty Co. March sales increased by 9% over last year. YTD sales are up 17% through the first quarter.
  3. 3. Copyright 2020 Neil Kearney, Kearney Realty Co. Just as many were getting ready to put their homes on the market COVID-19 put plans on hold.
  4. 4. Copyright 2020 Neil Kearney, Kearney Realty Co. This graph shows the number of active homes on the market that are not already spoken for by a buyer at the time of reporting. At the end of March 44% of the properties in the MLS were already under contract. A strong market but not quite as strong as the past few years.
  5. 5. Copyright 2020 Neil Kearney, Kearney Realty Co. Price reductions have really dropped in the last few weeks. Most sellers are resigned to the fact that there are not going to be many showings in the short term.
  6. 6. Copyright 2020 Neil Kearney, Kearney Realty Co. The red line shows new listings to the market in Boulder County so far in 2020. Just as the numbers of new listings should be increasing, stay-at-home orders have caused a big drop in the past few weeks.
  7. 7. Copyright 2020 Neil Kearney, Kearney Realty Co. This chart shows the number of properties going under contract each week throughout the year. A large drop in the past few weeks as activity has dropped due to the pandemic.
  8. 8. Copyright 2020 Neil Kearney, Kearney Realty Co. This graph shows the number of closings on a weekly basis. Most of the planned closings in March made it to the closing table.
  9. 9. Copyright 2020 Neil Kearney, Kearney Realty Co. This graph shows the number of showings on a daily basis in the greater Boulder market since March 10th. Even as showings decline dramatically, there seems to be a surge of activity on the weekend. Most of the showings are taking place on homes priced below $1 million
  10. 10. When you look to the future and predict where the market will go, rarely do we think about large outside influences like a global pandemic. But here we are. The health crisis has caused a global financial crisis. How deep this recession will be won’t be known until we get back to work and see how quickly the workforce gets reabsorbed back into jobs. The housing market was just coming into the most active time of the year so many plans are paused if not changed. Right now I’m seeing most of the in-process transactions make it to the closing table (although definitely not all), but we are definitely seeing a huge drop in showings and new contracts written. It will be interesting to see if the busy time of the year is just delayed or if the normal bubble of activity just pops for the year. For now we are seeing some activity in the lower price ranges in our market and very little in the upper price ranges. My view of the Market Copyright 2020 Neil Kearney, Kearney Realty Co.
  11. 11. Copyright 2019 Neil Kearney, Kearney Realty Co.

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