Housing sales pick up pace in recent fiscal year
San Francisco, CA -- (SBWIRE) -- 01/11/2013 -- The college towns of Colorado towns have been able to stay strong during the nation's real estate collapse. Home values among those areas were able to hang in, avoiding dramatic drops that many around the nation felt. Only home sales took a dive, and even that statistic is now improving.
There were 752 total sold in Boulder between November of 2011 and the end of 2012's October. The 23% increase was welcome news compared to the same period prior, according to the Boulder Area Realtor Association, in their Wednesday release.
Homes in the boulder area have been sitting on the market for an average of 75 days. That is nearly a 20-day improvement from previous years.
“Our pricing and home values have changed very little over the past few years, even with the economic downturn,” Boulder Area Real Estate Association Vice President Kenneth Hotard said in an interview. “What's changed in our market more than anything else is sales volume and that has begun to rebound.”
Boulder experienced an average sales of $683,271 and a median of $602,000, according to records. The average sale over the 2012 fiscal year was $668,027, a 0.3% decline from the year prior.
Re/Max of Boulder agent Duane Duggan stated that the supply of single-family houses is nearing a 10-year low, and sees buyers grabbing homes priced under $600,000 quickly, likely in a bid to make a turnover.
“If they're priced right, they'll go under contract on the first day,” he said.
In the Heatherwood area, there are 658 homes. The community that lies to the north of Boulder typically has 20 to 30 houses on the market, says Duggan. Today, there is one. In Martin Acres, in Boulder, there has been a 50% increase in the houses on the market.
“For the last few years, my job had been mostly about keeping in contact with my sellers,” Duggan said. “That's changed. Now it's more about the strategy of pricing it right to get the most money out of it.”
being the priciest zip code in the area, with four-bedroom, two-bath, houses earning sellers over $ million, according to recent Coldwell banker numbers. The most expensive ale in the Denver metro was a four-bedroom, six-bath in Boulder that sold for $3.9 million, says Coldwell Banker reports.
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