Monthly Real Estate Market Stats: JULY 2021

Brian Manning here. So we’re doing something a little bit different now. On a monthly basis, I’m going to start putting out a video with just information on the real estate market and what’s happening in the market and just kind of statistics that we’re getting and feedback on what’s taking place in the real estate market. I am not a licensed realtor, I’m a mortgage loan originator. I don’t sell real estate, but I am an affiliate member of the Longmont Boulder Board of realtors. And the information I’m going to run through with you today is just going to be really quick and simple. And it’s just to give you some feedback on what’s happening in the markets in Boulder County.

So what I want to look at here today is two different sets of information. So the first one we’re going to look at here is going to be Boulder County, excluding the city of Boulder, and we’re going to do the city of Boulder after this but the first thing I’m going to look at is just what’s Boulder County excluding the city of Boulder, so that’s everywhere else – Longmont, Lafayette, Lewisville, everywhere but the city of Boulder, and then also single family residences. So this is detached properties. So what we’re looking at right now, which is the comparison of July 2020to July of 2021. So… and for July of 2020 as far as new listings, so this is new single family residences that hit the market for sale. July 2020, there was 303. And July of 2021, there was 262. It’s kind of crazy to see this because July 2020 was certainly mid-COVID and here we are in July of 2021 as the world’s opening back up again, and our inventory is down 13.5%. Next thing I want to look at is just average sales price. So in July of 2020, the average sales price for a single family residence in Boulder County, excluding the city of Boulder was $632,466. In July of 2021, this new average sales price is $842,689. So we’ve seen a 33.2% increase in sales price from July of last year to July of this year, which is just unbelievable. And another thing I like to look at is just percent of list price received. So this is really the number of how much was a home listed for and then how much did it sell for. In July 2020, the average percent of list price received was 99.9%.

And then July 2021, average home was selling above this price. So that was at 104.9%. So we’ve seen a 5% increase in the comparison of percent of list price. The other item we’re looking at here is also Boulder County, excluding the city of Boulder and then attached properties. So this is going to be condos and townhouses. For new listings, July of 2020, there was 84 homes that hit the market. July of 2021, there was 58 homes that hit the market so new inventory was down 31%, also a staggering number is average sales price. July of 2020, the average sales price was $408,527. July of 2021 is $484,332. So a really strong gain here as well at 18.6% over the year. And then also percent of list price received. July of 2020, they were averaging 100% so most homes were selling for at list price, and then this year July of 2021, they’re selling at 103.5% so 3.5% above list price is the average that we’re seeing so up 3.5%. And then what we want to look at is now just the city of Boulder because I do think it’s best when we’re looking at the data sets to look at the county without the city and now let’s just look at the city of Boulder as well. So single family residences in the city of Boulder, July of 2020, new listings to hit the market was 169. July of 2021 was 110 homes. So inventory down 13.2%. Average sales price just staggering.

In July of 2020 was right at 1.5-2 million, and in July of 2021 is approaching 1.6 million, a 38.7% increase in sales price. And then percent of list price received. July of 2020, average home was selling just under the list price so average home was selling at 99.2% list price whereas today the average home is selling for about 4.2% above list price. So there’s about a 5% change. And then the city of Boulder attached property, so this is condominiums and townhouses. In July of 2020 new homes to hit the market or new condos and townhomes to hit the market was at 112 and in July of this year 91. So new inventory here is down 31%. In July of 2020, average sales price was at $453,921 and this year it’s at $575,516. So close to a 27% gain of average sales price, which is just a staggering number. And then also we had percent of list price received. So in July 2020, average condo and townhouse was selling at 98.8% of the list price. In July of this year, it was selling 100.6%. So 1.8% increase there as well.

I truly appreciate you checking this out. Again, my name is Brian Manning. I’m not a licensed Realtor. I’m a licensed mortgage loan originator, I’m licensed to lend in Florida, Colorado, Arizona and California because my entire life is really spent in numbers and helping people buy homes and refinance. I’m very much trying to stay in tune with what’s happening with market statistics here so I feel like if you’re a homebuyer or if you own a home, this is something you should be staying in contact with as well. So I want to put this together. We’ll be doing this on a monthly basis so you can just see what’s happening in the markets. I’m always available. If you have any questions, let me know. I’d love to help you any way I can. Hope you have a great day.