September 2023 Boulder Porch Report

As we transition to fall, there’s been a surge in activity that will likely be followed by many buyers and sellers pausing to enjoy the holidays. This seasonal slowing, along with low inventory, could potentially lead to more competition and higher prices. If you are thinking about making a move, feel free to reach out! Let’s talk strategy so that you can achieve your goals.

In Boulder, the number of new listings for single-family homes increased slightly while sales dropped from 97 in July to just 68 in August. However, the median sales price actually increased month-over-month (yet below 2022 prices), coming in at $1,285,700.

Time on market climbed to 54 days and inventory remained flat with a 3.7-month supply of homes for sale. That number continues to hold at just over the halfway mark to a balanced market.

Looking at Boulder County as a whole, the median home price decreased to $797,000 in August. That’s also 4% lower than the 2022 price of $830,000. One hot spot was Lafayette where prices jumped from $725,000 in July to $865,000 last month.

Finally, Broomfield County prices recovered after dipping in July. Single-family homes came in at $760,500—that’s $95,500 higher than in July despite days on market increasing by nine.

So you’ve decorated a room in your home, but it feels like something is off and you can’t figure out how to fix it. Do you need to swap out your coffee table? Perhaps paint an accent wall?

For a fresh perspective, first take photos of your room. Then, consider adding these elements to help you create a more personalized space that looks both finished and welcoming.

1. A Focal Point: Whether a piece of furniture, artwork or simply your fireplace, provide a visual anchor that instantly draws the eye.

2. Walking and Breathing Room: You shouldn’t have to shimmy or sidestep through a room. Remove furniture and clutter as needed.

3. Height Variation: Balance the low lines of a sofa and coffee table with vertical elements like artwork, shelving or a chandelier.

Knowing how to build credit to buy a house can give you a serious advantage when it comes to homeownership.

Your credit score can affect the interest rate you receive. Generally speaking, borrowers with higher credit scores tend to qualify for the more competitive interest rates. But rates are highly dependent on the borrower’s overall financial profile, as well as current market conditions.

So, the higher your credit score, the better your chance of qualifying for a mortgage, getting a competitive rate, and being pre-approved for the amount you need to buy the home you want.