March 2023 Boulder Porch Report

Spring has arrived, clocks have sprung forward, and we’re seeing warmer days! The local market continues to perk up as well, so if you’re thinking about a big move, reach out. And if you’re more focused on spring home projects, I’d be happy to connect you with my favorite (and reliable) pros.

Compared to the prior month, the Boulder real estate market came to life in February. Though not a repeat of the last couple of years, a lack of home inventory continues to drive the market.

Taking a closer look, the median single-family home price in the city of Boulder hit $1,400,000, a significant increase compared to $1,140,000 in January. The percentage of list price received also jumped from 96.8% to 98.9% in February.

Across all of Boulder County, the median home price increased to $842,500 versus $762,714 the prior month. Attached homes also increased by $50k. Longmont had another strong month with the median price increasing from $617,825 in January to $660,000 in February.

If you’re in the market to buy a home, your “must-haves” checklist likely includes the important stuff—location, size, number of bedrooms and baths, as well as price.

What many buyers don’t notice are the weird little details. That’s why you work with a proactive and dedicated real estate agent who will point things out or set up a private showing so that you can really take your time and investigate a home.

Some things you’ll want to check out are the number and location of outlets, especially in older homes. Flush toilets. Check shower pressure. Make sure you have a closet or drop zone for all your stuff. And peek under rugs to check for damage or stains. Get nosy!

A cash offer on a house can go a long way toward getting a seller’s attention. There’s no need to worry about a buyer getting approved for a mortgage, and cash deals tend to close quickly.

Of course, most homebuyers don’t have hundreds of thousands of dollars lying around to buy a home. Even if you could pull together the funds, it may not be the soundest financial move.

Fortunately, there are ways to make a strong offer even if you don’t have cash on hand. Options include getting a solid, underwritten preapproval or making an offer with a cash guarantee.