Steady stats indicate Boulder is well-positioned for upswing

Homes throughout most of Boulder County spent less time on the market from July 2007 through the end of June 2008, but how many homes sold and the price at which they did varied from community to community, according to Boulder Area Realtor Association (BARA) statistics.

Houses within Boulder city limits as well as those in the mountains took longer to sell on average – 6.3 percent and 14.3 percent longer, respectively, compared with the previous year – while the rest of the communities saw a decrease in average time on the market. Nearly all Boulder communities saw a decrease in the number of homes sold, but they were split in average sales price increase and decrease.

Overall, though, the Boulder-area market remains steady, according to Ken Hotard, senior vice president of public affairs for BARA.

“You’re not seeing much change in the market,” he says. “Comparatively speaking, we still have a much stronger market than many areas in the country.”

Boulder continues to have modest job growth, and home prices are holding up reasonably well, Hotard says.

On the other hand, he says he’s not seeing any short-term signs that suggest the Boulder market will see a turnaround anytime soon. Hotard maintains that the potential for an upswing won’t come until 2010.

“While the numbers remain flat, the Boulder-area marketplace is well-positioned for recovery as current economy emerges from the downturn,” he says.

The homes that are selling are those that are in excellent condition and priced competitively, Hotard says.

“In this kind of market, that’s what moves,” he says, noting buyers have plenty to choose from and have the upper hand in bargaining. “Realtors are working harder and harder for every deal.”