Boulder County Housing Market Percolates Through June Heat

Originally posted by Tom Kalinski Founder RE/MAX of Boulder on Tuesday, August 7th, 2018 at 1:34pm.

Market demand continues to be strong for Boulder County residential real estate with continued improvements for June sales compared to May.

“Sales were strong through June. It’s a lively market, but certainly not overheated,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

Single-family home sales in Boulder County improved 2.3 percent in June 2018 compared to May 2018 – 498 vs. 487 units – while townhome/condominium sales jumped 31.3 percent – 189 units sold vs. 144.

Year-to-date sales show ongoing growth with single-family home sales rising 2.4 percent through June compared to the prior year – 2,218 vs. 2,166 units – and condo and townhome sales improving 6.6 percent year-over-year – 776 units sold compared to 728.

Inventory is holding steady, which typically correlates with strong sales. Single-family homes for sale increased 9.4 percent – 1,004 homes for sale in June compared to 918 in May. Condo/townhomes inventory rose 14.4 percent over the same period, making 238 units available for sale vs. 208 in May.

Prices are one indication of market temperature. So far, 2018 has seen average and median sales prices continue to rise year-over-year, with all Boulder Valley markets showing improvement in the single-family category for June. Condos/townhomes also showed improvement in both median and average sale prices in every community except statistics for Louisville, Niwot and the Mountains.

Hotard notes that typically “July has a pullback in sales, due to summer vacation schedules and the anticipation of school starting.”

“Market demand is impressive and prices are holding up,” he says. “Single-family homes average selling price has been over a million for months now and shows no signs of cooling off.”

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About Tom Kalinski:

Tom Kalinski is a pillar of the Boulder Valley real estate community who was inducted into Boulder County’s Business Hall of Fame in 2016. Tom has vast inside knowledge of the Boulder County real estate market and an impressive 40-year background in commercial and residential real estate. Tom is the Owner and Founder of RE/MAX of Boulder, the top-producing local residential real estate company he established in 1977, which has grown to over 100 Realtors. RE/MAX of Boulder has been voted Best Real Estate Group by Boulder Weekly, Best Real Estate Company by Colorado Daily, and named #1 RE/MAX office in the U.S. for sales volume 8 times.

For questions, email Tom at tomkalinski33@gmail.com, call 303-441-5620, or visit boulderco.com.

 

Tom Kalinski 
Owner and Founder
RE/MAX of Boulder
303-441-5620
tomkalinski33@gmail.com

Posted on August 15, 2018 at 7:26 pm
Jay Kalinski | Category: Articles | Tagged , , , , , , , , ,

Colorado Ranks High for Job Seekers

Originally Posted by Tom Kalinski Founder RE/MAX of Boulder on Friday, July 20th, 2018 at 10:09am.

If you feel like you live in a great state for your career, it’s official: you are absolutely correct. Among all 50 states, Colorado is the second best state for finding a job, according to analysis by WalletHub.

The only state where job seekers fare better is Washington, with a total WalletHub score of 71.45 compared to Colorado’s 70.04.

But in “Job Market Rank,” Colorado pulled the top position at No. 1, followed by Utah, Maryland and Minnesota. Washington came in at No. 7.

Total score of most attractive states for employment was determined by WalletHub’s comparison of 50 states across 29 key indicators of job-market strength, opportunity and a healthy economy. The two key dimensions were Job Market and Economic Environment. Job Market was weighted more heavily since the factors in that category most heavily influence a job seeker’s decision in terms of relocation for employment.

Here’s how Colorado ranked in key categories.

In ‘Economic Rank’ Colorado is No. 19. Economic Rank evaluates the economic environment based on indicators such as median annual income (adjusted by the cost of living), monthly average starting salary, share of workers living under poverty line, average length of work week, average commute time and commuter-friendly jobs.

At the city level, Aurora led Colorado as the top place to find a job, ranking No. 33 in the U.S. Denver followed at No. 35 and Colorado Springs No. 68. The top cities in ‘Job Market Rank’ are Peoria, AZ; San Francisco, CA; Chandler, AZ; Gilbert, AZ; and Scottsdale, AZ, ranking 1-5 respectively.

In April, Colorado’s state unemployment rate fell by a tenth of a point to 2.9 percent and Colorado employers added 7,200 non-farm jobs to their payrolls, according to a monthly update from the Colorado Department of Labor and Employment. Nationally, the unemployment rate in April stood at 3.9 percent.

Average hourly earnings rose from $27.73 an hour to $28.91 over the past year. The average workweek remains unchanged at 33.7 percent.

For the full listing of statistics on the states, visit https://wallethub.com/edu/states-with-the-best-economies/21697/. For cities, visit https://wallethub.com/edu/best-cities-for-jobs/2173/.

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About Tom Kalinski:

Tom Kalinski is a pillar of the Boulder Valley real estate community who was inducted into Boulder County’s Business Hall of Fame in 2016. Tom has vast inside knowledge of the Boulder County real estate market and an impressive 40-year background in commercial and residential real estate. Tom is the Owner and Founder of RE/MAX of Boulder, the top-producing local residential real estate company he established in 1977, which has grown to over 100 Realtors. RE/MAX of Boulder has been voted Best Real Estate Group by Boulder Weekly, Best Real Estate Company by Colorado Daily, and named #1 RE/MAX office in the U.S. for sales volume 8 times.

Tom Kalinski 
Owner and Founder
RE/MAX of Boulder
303-441-5620
tomkalinski33@gmail.com

Posted on August 8, 2018 at 7:08 pm
Jay Kalinski | Category: Articles | Tagged , , , , , , , ,

Boulder-area market holding steady, proving strong demand eclipses low inventory

It’s beginning to look a lot like this year’s Boulder County real estate sales performance will outperform last year’s robust close. Year-over-year sales data for 2017 shows slight improvements compared to 2016, even with inventory at persistently low levels.

“It just proves that demand is strong and consistent,” says Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association.

Single-family home sales in the Boulder area improved 2.1 percent year-to-date through November 2017 compared to the prior year – 4,224 homes sold vs. 4,138.

And the sale of 1,377 condominiums and townhomes through November represented a 5.5 percent gain compared to the prior year’s 1,305 units sold.

“We saw year-over-year sales improvements, but the pull-back in November compared to October was more than average,” says Hotard.

He’s referring to the 7.9 percent drop in single-family home sales in November compared to October — 359 vs.  390 homes sold. Attached dwellings sold decreased 2.4 percent month-over-month with 123 units sold vs. 126.

Since the weather was excellent for house hunting, the pullback is likely indicative of more than the typical seasonal slowdown.

“Inventory is probably the culprit in the November pullback this year, which resulted in not only fewer sales, but also a softening of prices,” he says. When it comes to low inventory, there is “no end is in sight for the foreseeable future.”

Hotard believes price-softening is confined to higher end homes where inventories are larger and homes take twice as many days on the market before selling. “Lower priced homes are not affected,” he adds.

While buyer demand is strong, low inventory can’t supply that demand. November’s inventory is telling: Single-family homes for sale in the Boulder-area dropped 22.8 percent in November compared to October with 777 homes for sale vs. 1,006. Condos and townhomes felt the pinch slightly harder with a 24.7 percent drop for the month of November – 146 units vs. 194.

Mortgage interest deductions may diminish in importance as a result of the doubling of the standard deduction as part of recent tax reform legislation. The National Association of Realtors predicts only a small percent of homeowners will take advantage of the mortgage interest deduction in years to come because of that change.

 

*Photo courtesy of Edwin Andrade on Unsplash.com

Posted by Tom Kalinski Founder RE/MAX of Boulder on Friday, January 5th, 2018 at 10:15am.

Posted on January 16, 2018 at 5:38 pm
Jay Kalinski | Category: RE/MAX of Boulder | Tagged , , , , , , , , , , , , , , , , , , ,