Boulder County Market Update

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Boulder County Market Update

  1. 1. Boulder County MARKET UPDATE BOULDER, CO · Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics · Report for the week of November 30, 2009 · Presented by Anthony Knight TRG National Title www.positiveangles.wordpress.com - anthony_aknight@yahoo.com 303-475-8075 Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
  2. 2. City Overview Anthony Knight | 303-475-8075 BOULDER, CO This Week Real-Time Market Profile Trend The median list price in BOULDER, CO Median List Price $ 749,000 ≠≠ this week is $749,000. The 117 Average List Price $ 1,151,769 properties have been on the market Asking Price Per Square Foot $ 272 ≠≠ for an average of 199 days. Average Days on Market (DoM) 199 == Inventory of Properties Listed 117 ≠≠ Most Expensive Listing $ 5,295,000 Inventory has been lightening lately Least Expensive Listing $ 239,900 and the Market Action Index has been Average Age of Listing 36 trending up. Though days-on-market Percent of Properties with Price Decrease 36 % is increasing, these are mildly positive Percent Relisted (reset DOM) 9% indications for the market. Percent Flip (price increased) 3% Median House Size (sq ft) 3036 Median Lot Size 0.25 - 0.50 acre Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 3.0 Altos Research Value Statistics Home sales have been exceeding Market Action Index Strong Buyer's 17.6 == new inventory for several weeks. The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 While still a Buyer's market, prices implies a seller's advantage. Below 30, conditions give the advantage to the seem to have responded by moving buyer. upward. If the demand trends continue, expect prices to keep Trend Key: == Strong upward trend ≠≠ Strong downward trend marching upward, especially once ±+ No change = Slight upward trend ≠ Slight downward trend we see a Seller's Market. Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM 0.25 - 0.50 Top/First $ 2,250,000 5371 acre 4.0 5.0 13 29 0 6 202 Most expensive 25% of properties 0.50 - 1.0 Upper/Second $ 999,000 3876 acre 4.0 4.0 26 29 2 5 233 Upper-middle 25% of properties 0.25 - 0.50 Lower/Third $ 649,000 2400 acre 4.0 3.0 40 29 0 2 195 Lower-middle 25% of properties 6,501 - Bottom/Fourth $ 439,500 1976 8,000 sqft 3.0 3.0 32 30 1 3 165 Least expensive 25% of properties Page 2 of 31 Monday November 30, 2009
  3. 3. City Overview Anthony Knight | 303-475-8075 BOULDER, CO Median Price Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see the upper-half of the market (Quartiles 1 and 2) in this zip code showing weakness recently while the lower-half prices have remained strong. Quartiles 3 and 4 have been increasing in the last few weeks. These convergent trends cannot continue indefinitely, so look to the Market Action Index Quartile breakdown to see which group will change direction. First/Top Second/Upper Third/Lower Fourth/Bottom Page 3 of 31 Monday November 30, 2009
  4. 4. City Overview Anthony Knight | 303-475-8075 BOULDER, CO Price per Square Foot The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 7-day Average 90-day Average Page 4 of 31 Monday November 30, 2009
  5. 5. City Overview Anthony Knight | 303-475-8075 BOULDER, CO Market Action Index The BOULDER market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 17.60. With several months of inventory available at the current sales rate, buyers should find ample choice. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 5 of 31 Monday November 30, 2009
  6. 6. City Overview Anthony Knight | 303-475-8075 BOULDER, CO Days on Market The properties have been on the market for an average of 199 days. Half of the listings have come newly on the market in the past 161 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/Bottom Page 6 of 31 Monday November 30, 2009
  7. 7. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80301 This Week Real-Time Market Profile Trend The median list price in BOULDER, CO Median List Price $ 504,500 ≠≠ 80301 this week is $504,500. The 14 Average List Price $ 806,629 properties have been on the market Asking Price Per Square Foot $ 213 ≠≠ for an average of 201 days. Average Days on Market (DoM) 201 == Inventory of Properties Listed 14 ≠≠ Most Expensive Listing $ 2,199,000 Inventory has been decreasing lately Least Expensive Listing $ 365,000 but the Market Action Index is falling Average Age of Listing 23 also. With days-on-market climbing, Percent of Properties with Price Decrease 36 % these are relatively negative Percent Relisted (reset DOM) 14 % implications for the market. Percent Flip (price increased) 0% Median House Size (sq ft) 2999 Median Lot Size 0.25 - 0.50 acre Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 3.0 Altos Research Value Statistics Home sales have been exceeding Market Action Index Strong Buyer's 17.2 ≠≠ new inventory for several weeks. The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 However because of excess implies a seller's advantage. Below 30, conditions give the advantage to the inventory, prices have not yet buyer. stopped falling. Should the sales trend continue, expect prices to Trend Key: == Strong upward trend ≠≠ Strong downward trend level off soon and potentially to ±+ No change = Slight upward trend ≠ Slight downward trend resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market. Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM Top/First $ 1,999,000 6238 not available 4.0 6.0 13 3 0 0 282 Most expensive 25% of properties 8,001 - Upper/Second $ 630,000 2952 10,000 sqft 4.0 3.0 31 3 0 0 254 Upper-middle 25% of properties 0.25 - 0.50 Lower/Third $ 483,450 2957 acre 4.0 3.0 18 4 1 1 198 Lower-middle 25% of properties 0.25 - 0.50 Bottom/Fourth $ 387,450 2134 acre 3.5 3.0 28 4 0 0 102 Least expensive 25% of properties Page 7 of 31 Monday November 30, 2009
  8. 8. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80301 Median Price Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see the market's price weakness almost across the board. Prices in Quartile 4 have been mixed recently, while the rest of the market is trending downward. Look for a strong, persistent up shift in the Market Action Index as a leading indicator of the trough in the market. First/Top Second/Upper Third/Lower Fourth/Bottom Page 8 of 31 Monday November 30, 2009
  9. 9. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80301 Price per Square Foot The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 7-day Average 90-day Average Page 9 of 31 Monday November 30, 2009
  10. 10. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80301 Market Action Index The BOULDER, 80301 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 17.22. With several months of inventory available at the current sales rate, buyers should find ample choice. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 10 of 31 Monday November 30, 2009
  11. 11. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80301 Days on Market The properties have been on the market for an average of 201 days. Half of the listings have come newly on the market in the past 147 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/Bottom Page 11 of 31 Monday November 30, 2009
  12. 12. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80304 This Week Real-Time Market Profile Trend The median list price in BOULDER, CO Median List Price $ 887,000 ≠≠ 80304 this week is $887,000. The 42 Average List Price $ 1,147,048 properties have been on the market Asking Price Per Square Foot $ 315 ≠≠ for an average of 164 days. Average Days on Market (DoM) 164 ≠≠ Inventory of Properties Listed 42 == Most Expensive Listing $ 3,200,000 Demand measured by the Market Least Expensive Listing $ 239,900 Action Index is increasing and days- Average Age of Listing 33 on-market is trending downward. Percent of Properties with Price Decrease 40 % Even as more properties come Percent Relisted (reset DOM) 2% available, these are positive trends Percent Flip (price increased) 5% for the market. Median House Size (sq ft) 3201 Median Lot Size 0.25 - 0.50 acre Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 3.5 Altos Research Value Statistics Inventory levels have been relatively Market Action Index Strong Buyer's 14.1 == consistent relative to sales. Despite The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 the fact that there is a relatively implies a seller's advantage. Below 30, conditions give the advantage to the high amount of available inventory, buyer. this Buyer's market is still seeing prices move higher. Given inventory Trend Key: == Strong upward trend ≠≠ Strong downward trend levels, these price conditions are ±+ No change = Slight upward trend ≠ Slight downward trend relatively fragile. If the market cools off further, the price trend is likely to reverse. Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM 0.25 - 0.50 Top/First $ 2,100,000 5143 acre 4.5 5.0 12 10 0 2 171 Most expensive 25% of properties 0.25 - 0.50 Upper/Second $ 1,112,500 3910 acre 4.0 4.0 28 10 0 2 178 Upper-middle 25% of properties 0.25 - 0.50 Lower/Third $ 753,900 2660 acre 4.0 3.0 30 11 2 0 231 Lower-middle 25% of properties 4,501 - Bottom/Fourth $ 519,900 1692 6,500 sqft 3.0 2.0 45 11 0 0 78 Least expensive 25% of properties Page 12 of 31 Monday November 30, 2009
  13. 13. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80304 Median Price Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see pricing in this zip code is lacking strong directional indication lately. Quartiles 1 and 3 are up while Quartiles 2 and 4 are basically flat in recent weeks. Watch for persistent shifts in the Market Action Index for a leading indicator of stronger price moves in the market as a whole. First/Top Second/Upper Third/Lower Fourth/Bottom Page 13 of 31 Monday November 30, 2009
  14. 14. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80304 Price per Square Foot The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 7-day Average 90-day Average Page 14 of 31 Monday November 30, 2009
  15. 15. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80304 Market Action Index The BOULDER, 80304 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 14.07. With several months of inventory available at the current sales rate, buyers should find ample choice. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 15 of 31 Monday November 30, 2009
  16. 16. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80304 Days on Market The properties have been on the market for an average of 164 days. Half of the listings have come newly on the market in the past 133 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/Bottom Page 16 of 31 Monday November 30, 2009
  17. 17. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80303 This Week Real-Time Market Profile Trend The median list price in BOULDER, CO Median List Price $ 680,000 == 80303 this week is $680,000. The 24 Average List Price $ 969,302 properties have been on the market Asking Price Per Square Foot $ 254 == for an average of 211 days. Average Days on Market (DoM) 211 == Inventory of Properties Listed 24 ≠≠ Most Expensive Listing $ 5,295,000 Inventory has been lightening lately Least Expensive Listing $ 279,900 and the Market Action Index has been Average Age of Listing 37 trending up. Though days-on-market Percent of Properties with Price Decrease 33 % is increasing, these are mildly positive Percent Relisted (reset DOM) 17 % indications for the market. Percent Flip (price increased) 4% Median House Size (sq ft) 2917 Median Lot Size 0.50 - 1.0 acre Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 4.0 Altos Research Value Statistics The market has shown some Market Action Index Strong Buyer's 15.4 == evidence of slowing recently. Both The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 prices and inventory levels are implies a seller's advantage. Below 30, conditions give the advantage to the relatively unchanged in recent buyer. weeks. Watch the Market Action Index for changes as it can be a Trend Key: == Strong upward trend ≠≠ Strong downward trend leading indicator for price changes. ±+ No change = Slight upward trend ≠ Slight downward trend Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM 0.25 - 0.50 Top/First $ 1,374,500 5372 acre 5.0 5.0 10 6 0 0 257 Most expensive 25% of properties Upper/Second $ 799,500 3650 not available 4.5 3.5 42 6 0 0 248 Upper-middle 25% of properties 1.0 - 2.5 Lower/Third $ 609,450 2278 acres 4.0 3.0 45 6 0 1 168 Lower-middle 25% of properties 0.25 - 0.50 Bottom/Fourth $ 412,825 2112 acre 3.0 3.0 44 6 0 0 170 Least expensive 25% of properties Page 17 of 31 Monday November 30, 2009
  18. 18. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80303 Median Price In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general over the last several weeks. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see prices in the individual quartiles not demonstrating strong directional correlation lately. Quartile 2 has been trending up recently, but unless we see a persistent up-shift in the Market Action Index, it will likely resume the trend of the rest of the market. First/Top Second/Upper Third/Lower Fourth/Bottom Page 18 of 31 Monday November 30, 2009
  19. 19. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80303 Price per Square Foot The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 7-day Average 90-day Average Page 19 of 31 Monday November 30, 2009
  20. 20. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80303 Market Action Index The BOULDER, 80303 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 15.37. With several months of inventory available at the current sales rate, buyers should find ample choice. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 20 of 31 Monday November 30, 2009
  21. 21. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80303 Days on Market The properties have been on the market for an average of 211 days. Half of the listings have come newly on the market in the past 161 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/Bottom Page 21 of 31 Monday November 30, 2009
  22. 22. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80302 This Week Real-Time Market Profile Trend The median list price in BOULDER, CO Median List Price $ 872,000 == 80302 this week is $872,000. The 30 Average List Price $ 1,446,137 properties have been on the market Asking Price Per Square Foot $ 333 == for an average of 217 days. Average Days on Market (DoM) 217 ≠≠ Inventory of Properties Listed 30 ≠≠ Most Expensive Listing $ 4,750,000 Inventory is tightening and days-on- Least Expensive Listing $ 345,000 market is falling. The Market Action Average Age of Listing 47 Index shows demand heating up. Percent of Properties with Price Decrease 30 % These are relatively bullish signs for Percent Relisted (reset DOM) 10 % prices. Percent Flip (price increased) 0% Median House Size (sq ft) 3496 Median Lot Size 0.25 - 0.50 acre Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 3.0 Altos Research Value Statistics Home sales have been exceeding Market Action Index Strong Buyer's 18.2 == new inventory for several weeks. The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 While still a Buyer's market, prices implies a seller's advantage. Below 30, conditions give the advantage to the seem to have responded by moving buyer. upward. If the demand trends continue, expect prices to keep Trend Key: == Strong upward trend ≠≠ Strong downward trend marching upward, especially once ±+ No change = Slight upward trend ≠ Slight downward trend we see a Seller's Market. Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM 0.50 - 1.0 Top/First $ 2,700,000 5425 acre 5.0 5.0 46 7 0 0 195 Most expensive 25% of properties 0.25 - 0.50 Upper/Second $ 1,495,000 4332 acre 4.0 4.0 12 7 0 3 302 Upper-middle 25% of properties 8,001 - Lower/Third $ 674,500 2394 10,000 sqft 4.0 3.0 40 8 0 1 122 Lower-middle 25% of properties 1.0 - 2.5 Bottom/Fourth $ 399,950 1593 acres 3.0 2.0 31 8 0 0 257 Least expensive 25% of properties Page 22 of 31 Monday November 30, 2009
  23. 23. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80302 Median Price Despite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's high point, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see the upper-half of the market (Quartiles 1 and 2) in this zip code showing weakness recently while the lower-half prices have remained strong. Quartiles 3 and 4 have been increasing in the last few weeks. These convergent trends cannot continue indefinitely, so look to the Market Action Index Quartile breakdown to see which group will change direction. First/Top Second/Upper Third/Lower Fourth/Bottom Page 23 of 31 Monday November 30, 2009
  24. 24. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80302 Price per Square Foot The market appears to be placing an increasing premium on homes. When list prices and price per square foot consistently increase in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market Action Index for persistent changes as a leading indicator for these trends to flatten or drop. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 7-day Average 90-day Average Page 24 of 31 Monday November 30, 2009
  25. 25. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80302 Market Action Index The BOULDER, 80302 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 18.17. With several months of inventory available at the current sales rate, buyers should find ample choice. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 25 of 31 Monday November 30, 2009
  26. 26. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80302 Days on Market The properties have been on the market for an average of 217 days. Half of the listings have come newly on the market in the past 161 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/Bottom Page 26 of 31 Monday November 30, 2009
  27. 27. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80305 This Week Real-Time Market Profile Trend The median list price in BOULDER, CO Median List Price $ 749,000 ≠≠ 80305 this week is $749,000. The 7 Average List Price $ 1,234,400 properties have been on the market Asking Price Per Square Foot $ 311 ≠≠ for an average of 265 days. Average Days on Market (DoM) 265 == Inventory of Properties Listed 7 ≠≠ Most Expensive Listing $ 2,880,000 Inventory has been lightening lately Least Expensive Listing $ 394,900 and the Market Action Index has been Average Age of Listing 36 trending up. Though days-on-market Percent of Properties with Price Decrease 43 % is increasing, these are mildly positive Percent Relisted (reset DOM) 14 % indications for the market. Percent Flip (price increased) 14 % Median House Size (sq ft) 2709 Median Lot Size 0.25 - 0.50 acre Median Number of Bedrooms 4.0 Supply and Demand Median Number of Bathrooms 3.0 Altos Research Value Statistics Inventory levels have been relatively Market Action Index Strong Buyer's 15.9 == consistent relative to sales. Despite The Market Action Index answers the question "How's the Market?" By measuring the current rate of sale versus the amount of the inventory. Index above 30 the fact that there is a relatively implies a seller's advantage. Below 30, conditions give the advantage to the high amount of available inventory, buyer. this Buyer's market is still seeing prices move higher. Given inventory Trend Key: == Strong upward trend ≠≠ Strong downward trend levels, these price conditions are ±+ No change = Slight upward trend ≠ Slight downward trend relatively fragile. If the market cools off further, the price trend is likely to reverse. Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM 0.25 - 0.50 Top/First $ 2,880,000 4519 acre 4.0 6.0 9 1 0 1 105 Most expensive 25% of properties 0.50 - 1.0 Upper/Second $ 1,698,500 4831 acre 4.5 3.0 40 2 0 2 378 Upper-middle 25% of properties 0.25 - 0.50 Lower/Third $ 699,500 2576 acre 4.0 3.0 46 2 0 1 354 Lower-middle 25% of properties 4,501 - Bottom/Fourth $ 482,400 1768 6,500 sqft 3.5 2.0 34 2 0 2 144 Least expensive 25% of properties Page 27 of 31 Monday November 30, 2009
  28. 28. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80305 Median Price Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices. 7-day Average 90-day Average Quartile Prices Not surprisingly, given the condition of the overall market, all quartiles have shown price strength in recent weeks. All have been increasing in price lately. Watch for a persistent decline in the Market Action Index as a leading indicator for the top of the market. First/Top Second/Upper Third/Lower Fourth/Bottom Page 28 of 31 Monday November 30, 2009
  29. 29. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80305 Price per Square Foot The market's downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 7-day Average 90-day Average Page 29 of 31 Monday November 30, 2009
  30. 30. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80305 Market Action Index The BOULDER, 80305 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Index stands at 15.90. With several months of inventory available at the current sales rate, buyers should find ample choice. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels of demand. Watch the quartiles for changes before the overall market shifts. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of the current rate of sale versus current inventory. Page 30 of 31 Monday November 30, 2009
  31. 31. Neighborhood Detail Anthony Knight | 303-475-8075 BOULDER, CO 80305 Days on Market The properties have been on the market for an average of 265 days. Half of the listings have come newly on the market in the past 224 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Second/Upper Third/Lower Fourth/Bottom Page 31 of 31 Monday November 30, 2009

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