May 2023 Real Estate Market Analysis: Larimer County, Boulder County, and Weld County
Let’s explore the numbers and trends that shaped the real estate markets in these areas!
Larimer County experienced a significant increase in new listings, sold properties, and average sales price in May. With 738 new listings, there was a notable 39% rise compared to the previous month. This influx of listings suggests an active market, potentially indicating increased seller confidence. Additionally, the county witnessed a 42% surge in the number of properties sold, with 548 sales recorded. This indicates a robust buyer demand in the area.
Moreover, the average sales price in Larimer County reached $625,000, marking a modest 2% increase compared to the previous month. The upward trend in the average sales price suggests a healthy appreciation of property values. Lastly, the county had a 1.65-month supply of inventory, indicating a relatively low inventory level, which could contribute to a competitive market for buyers.
Moving on to Boulder County, we find another active real estate market in May. The county saw 474 new listings, representing a 29% increase from the previous month. This rise in new listings suggests a healthy inventory level, providing more options for potential buyers. Furthermore, the number of properties sold experienced a substantial increase of 40%, with 301 properties successfully changing hands. This points to a strong demand for housing in Boulder County.
However, it’s important to note that the average sales price in Boulder County decreased slightly by 3% compared to the previous month, reaching $982,000. While this may seem like a decline, it is worth considering the context of the overall market performance. Even with this decrease, the average sales price remains relatively high, indicating the desirability and value of properties in the area. Additionally, the county had a 2.16-month supply of inventory, reflecting a decreased level of available housing compared to the previous month.
Lastly, let’s turn our attention to Weld County, where the real estate market also showed notable trends in May. The county witnessed a 10% increase in new listings, with 447 properties hitting the market. This suggests a steady supply of housing options for potential buyers. Furthermore, 349 houses were sold, representing a 3% increase in sales activity compared to the previous month.
In terms of pricing, Weld County experienced a 5% increase in the average sales price, reaching $528,000. This growth indicates a positive trend in property values. However, it’s worth noting that the county had a 2.05-month supply of inventory, which indicates a decline of 23% compared to the previous month. The reduced inventory level suggests increased competition among buyers in the market.
Overall, the real estate markets in Larimer County, Boulder County, and Weld County demonstrated positive growth and promising trends in May. Larimer County experienced an increase in new listings, sold properties, and average sales price. Boulder County had a rise in new listings and sold properties, but the average sales price experienced a slight decrease. Lastly, Weld County observed an increase in new listings, sold properties, average sales price, while the inventory level decreased.
These statistics provide valuable insights into the current state of the real estate markets in these counties, allowing potential buyers and sellers to make informed decisions. However, it’s essential to consult with local real estate professionals like us for a comprehensive understanding of the market dynamics. We are always here to help educate and strategize!