by Osman ParvezAfter several years of sluggish performance, the higher end of the Boulder real estate roared back to life this year. Take a look at the following chart.
The chart above shows sold volume for houses with transaction prices in excess of $1,000,000 in the City of Boulder. The market picked up noticeably this year, with 102 sold houses during the last twelve months (ending October). This is a 46% increase compared to the year before and similar to volume during the 2005-2007 period.
Although inventory remains at record lows in Boulder, the shortage is concentrated at the entry and mid-range of the market. There is no shortage of homes valued above $1MM. If you're shopping in this price range and not finding what you're looking for, call me. In addition to showing you what's on the market (without the pesky listing agent present), I'll help you sift through expired and withdrawn listings that have not come back to market (i.e. frustrated sellers from previous years). If we find one, I can potentially save you a bundle on the commission. Call me at 303.746.6896.
Keep in mind that valuation at this price range can be a little tricky, especially for homes in historic districts. If you're interested, take a look at my analysis of 1013 Mapleton. It's a good overview of my approach to negotiation and valuation with higher end homes.
p.s. We still have two months to go before the end of the year so for 2012, so how did I establish my forecast? I took the last twelve months, ending 11/1/2012 and checked sales volume for the last two months of the year 2011; there were 9 sales during this period. As of this writing, there are 8 homes under contract with asking prices above $1,000,000. Most of these homes will close before the end of the year. In short, I think you're looking at a pretty good estimate for how the rest of the year will turn out.
---Note: Our goal is to provide exceptional service to our clients. The ideas and strategies in this blog post are the opinion of the writer at the time of publication. Silver Fern Homes recommends careful and complete due diligence before buying or selling real estate or other investments. Consult with your professional advisers before making financial decisions. This article is not intended as legal, tax, or investment advice. Silver Fern Homes will not be held liable for investment choices derived from this article.
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