Sales Record for $1MM+ Homes in Boulder

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by Osman Parvez

Psst...  I've got some news for you.   Sales of high end properties in Boulder didn't just bounce back, they set a RECORD last year.

To show you what's going on in the market, I've updated my last analysis (see High End Roars to Life) with fresh data.  I also decided to use public records instead of the MLS, to capture the full spectrum of transactions.     Here's the chart.


During 2012, there were 180 residential property sales with a transaction value in excess of $1,000,000 in Boulder.     This represents a 53% increase in sales volume compared to 2011 and the highest recorded level going back to at least 1999.      I suspect it's the highest level EVER, but I stopped digging through the data at 1999 (which had only 14 sales).

What's YOUR Strategy?

The good news for buyers is that you still have plenty of options.   There are 123 houses currently available valued above $1,000,000, of which only 21 are under contract (18%).    See the CURRENT INVENTORY.

The bad news is that the days of beating up the seller for massive discounts are likely over.    Buyers are moving quickly and fresh inventory, when priced right, is going under contract in short order.    It's not as competitive as the market at the entry level (where bidding wars are now normal), but if you're serious, don't poke about.    Go see the fresh inventory as soon as it hits the market.   Here's the FRESH INVENTORY as of 2/8/13.

For sellers, my advice is to track the market obsessively.   Your agent should analyze expired and withdrawns, in addition to current competitors and recent sales.   This will help you understand the market for YOUR property and establish a pricing strategy.  See my article, Price Strategies for a Rising Market.   Don't forget, staged properties sell faster and for more money.    I also recommend getting a seller's inspection and making repairs pre-emptively, rather than waiting for the buyer's inspector to force the issue.


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Please note:  My 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. Careful and complete due diligence is strongly advised 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.