In May 2020, Boulder County experienced a 48% decline in sales compared to the previous year, with year-to-date sales down by 32%. However, inventory increased as showings resumed, leading to a recovery in contracts and showing activity, indicating a backlog of demand. Despite significant reductions in prices and overall sales, there is a positive outlook for market recovery, particularly in lower price ranges.

1. Boulder County Real Estate Statistics
May 2020

2. Copyright 2020 Neil Kearney, Kearney Realty Co.
May sales were down by 48%
over May of last year. After a
strong first quarter, YTD sales are
now down by 32%.

3. Copyright 2020 Neil Kearney, Kearney Realty Co.
Inventory of available listings
jumped in May after in-person
showings were once again
allowed.

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
May 42% of the properties in the MLS were already under contract. Still
a decent number for the current situation, but lower than we have seen
in recent years.

5. Copyright 2020 Neil Kearney, Kearney Realty Co.
Price reductions have increased quite a bit
over the last month as sellers have really
gotten serious about selling.

6. Copyright 2020 Neil Kearney, Kearney Realty Co.
The red line shows new listings to the
market in Boulder County so far in 2020.
When we were able to show homes again
the number of new listings jumped
significantly.

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 during
March and April has been followed by a very strong recovery
in May. Seems like there was a backlog of demand.

8. Copyright 2020 Neil Kearney, Kearney Realty Co.
This graph shows the number of closings on a weekly
basis. Newly accepted contracts take 30 to 60 days to
make it to the closing table. We are seeing the results of
the forced slow down.

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. After very few
showings in April we have a nice increase in showings over the
last few weeks.

10. Sales are down significantly compared to past years, but this is due to
the forced showing moratorium. It is a lagging indicator. Looking
forward, we have seen a nice rebound in the market in the last few
weeks. Showings have increased and the number of contracts written
are quite strong. I’m still seeing more activity in the lower price
ranges and not as much in the luxury range, but overall I’m
encouraged with the strength in the recovery so far.
My view of the Market
Copyright 2020 Neil Kearney, Kearney Realty Co.

11. Copyright 2019 Neil Kearney, Kearney Realty Co.