Last year was a great time to be a seller in Colorado—but not as great as other years, not consistently throughout the year, and not at every price point.
In general, 2018 was a year of mixed messages. Entry-level homes saw a frenzy of activity while higher-priced homes often languished on the market. Late winter and early spring started strong, but the drop-off in sales happened sooner, and the usual bump in late summer/early fall was weaker than in years past.
This year, the pattern of conflicting metrics will continue. Late winter/early spring should again be strong, but the drop-off may happen even sooner than last year. Homes with the best finishes, value, location, and functionality will continue to do well. It’s interesting to note that Boulder County has recorded around 4,500 residential sales each year since 2012, down significantly from the late 1990’s and early 2000’s. Homes that offer a price point, neighborhood, or style that happens to be in high demand will continue to generate a frenzy of activity. If your home doesn’t meet those parameters, the market might feel slow.
In 2019, as we enter a seventh year of historically low Inventory, one metric stands out: Inventory remains low, but is higher than we’ve seen in four of the past six years. If that’s the new normal — with available inventory hovering near the top of the low range — it could signal a decelerating market overall.