2016 Boulder County Real Estate Market Wrap-Up
Interest Rates and Home Prices are Rising - Now is the Time to Buy Your New Home!
Hello Everyone – I hope you’re having a great start your new year.
I wanted to give you a quick market update for Boulder County for 2016 and talk a little about the market in general.
As I’m sure you’re aware, we’re still in a seller’s market with barely over 1 month of inventory for single family homes and not even a month for Townhomes and condos.
Our Average sale price for homes went up 12% and was over $600K
Our Average sale price for townhomes and condos went up 22% with an average sale price of almost $400K
Homes are selling in about 55 days which is similar to 2015
Interest rates have gone up and are predicted to go up more in 2017 – probably about 3 times more
So if you’re still renting with the high rent prices we see here in Boulder county or are thinking of selling your home and moving up or downsizing, now is the time while rates are still low because as you know, when rates increase, so do your monthly payment.
If you’re thinking of selling, now is the time because as we move into Spring, there will be a lot more competition and we have buyers now who are ready to buy and are willing to pay top dollar for homes.
Well, that’s all for now, if you’re thinking of buying or selling or know anyone thinking of buying or selling, give me a call or text or email us, and we'll help you get the ball rolling.
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