MARKET UPDATEBoulder County
· Current Real Estate Market Conditions for Single Family Homes· Trends in Pricing· Current Levels of Supply and Demand· Value Metrics
· Report for the week ofNovember 30, 2009
· Presented by Anthony KnightTRG National Titlewww.positiveangles.wordpress.com - [email protected]
BOULDER, CO
Powered by Altos Research LLC | www.altosresearch.com | Copyright © 2005-2009 Altos Research LLC
Median List Price
Median Lot Size
17.6
Percent Relisted (reset DOM)
3036
3.0
3 %
Median Number of Bathrooms
199
Inventory of Properties Listed
$ 272
Percent Flip (price increased)
0.25 - 0.50 acre
Median House Size (sq ft)
$ 749,000
36 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
9 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
≠≠
≠≠
==
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
13 65371
1953.0 40
3.0
0
233
4.0 29
165
2
2
0.25 - 0.50acre
32
$ 649,000
1
0
30
5.0
0.25 - 0.50acre
54.0
1976 6,501 -8,000 sqft
29
$ 439,500
4.0
202
0.50 - 1.0acre$ 999,000
4.0$ 2,250,000
26
3
3876
Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.
Monday November 30, 2009
Anthony Knight | 303-475-8075
29
2400
3.0
The median list price in BOULDER, COthis week is $749,000. The 117properties have been on the marketfor an average of 199 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
BOULDER, COCity Overview
Least Expensive Listing
Average List Price
Average Age of Listing
117
$ 5,295,000
$ 239,900
$ 1,151,769
36
Trend Key:
Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.
Page 2 of 31
Anthony Knight | 303-475-8075
City OverviewBOULDER, CO
Monday November 30, 2009
Median PriceAgain this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus theirabsolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leadingindicator for a trough in prices.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see the upper-half of the market (Quartiles 1 and 2) in this zip code showing weaknessrecently while the lower-half prices have remained strong. Quartiles 3 and 4 have been increasing in the last few weeks. Theseconvergent trends cannot continue indefinitely, so look to the Market Action Index Quartile breakdown to see which group willchange direction.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 3 of 31
Anthony Knight | 303-475-8075
City OverviewBOULDER, CO
Monday November 30, 2009
Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Page 4 of 31
Anthony Knight | 303-475-8075
City OverviewBOULDER, CO
Monday November 30, 2009
Market Action IndexThe BOULDER market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market Action Indexstands at 17.60. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Page 5 of 31
Anthony Knight | 303-475-8075
City OverviewBOULDER, CO
Monday November 30, 2009
Days on MarketThe properties have been on the market for an average of 199 days. Half of the listings have come newly on the market in thepast 161 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 6 of 31
Median List Price
Median Lot Size
17.2
Percent Relisted (reset DOM)
2999
3.0
0 %
Median Number of Bathrooms
201
Inventory of Properties Listed
$ 213
Percent Flip (price increased)
0.25 - 0.50 acre
Median House Size (sq ft)
$ 504,500
36 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
14 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
≠≠
≠≠
==
≠≠
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
13 06238
1983.0 18
3.5
1
254
4.0 4
102
0
1
not available
28
$ 483,450
0
0
4
6.0
0.25 - 0.50acre
03.0
2134 0.25 - 0.50acre
3
$ 387,450
4.0
282
8,001 -10,000 sqft$ 630,000
4.0$ 1,999,000
31
0
2952
Inventory has been decreasing latelybut the Market Action Index is fallingalso. With days-on-market climbing,these are relatively negativeimplications for the market.
Monday November 30, 2009
Anthony Knight | 303-475-8075
3
2957
3.0
The median list price in BOULDER, CO80301 this week is $504,500. The 14properties have been on the marketfor an average of 201 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
BOULDER, CO80301
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
14
$ 2,199,000
$ 365,000
$ 806,629
23
Trend Key:
Home sales have been exceedingnew inventory for several weeks.However because of excessinventory, prices have not yetstopped falling. Should the salestrend continue, expect prices tolevel off soon and potentially toresume their climb from there.Watch prices as the markettransitions from a Buyer's market toa Seller's market.
Page 7 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80301
Monday November 30, 2009
Median PricePrices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of thatcycle.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see the market's price weakness almost across the board. Prices in Quartile 4 have beenmixed recently, while the rest of the market is trending downward. Look for a strong, persistent up shift in the Market ActionIndex as a leading indicator of the trough in the market.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 8 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80301
Monday November 30, 2009
Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Page 9 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80301
Monday November 30, 2009
Market Action IndexThe BOULDER, 80301 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 17.22. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Page 10 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80301
Monday November 30, 2009
Days on MarketThe properties have been on the market for an average of 201 days. Half of the listings have come newly on the market in thepast 147 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 11 of 31
Median List Price
Median Lot Size
14.1
Percent Relisted (reset DOM)
3201
3.5
5 %
Median Number of Bathrooms
164
Inventory of Properties Listed
$ 315
Percent Flip (price increased)
0.25 - 0.50 acre
Median House Size (sq ft)
$ 887,000
40 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
2 %
Percent of Properties with Price Decrease
Strong Buyer's
==
≠≠
≠≠
≠≠
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
12 25143
2313.0 30
3.0
2
178
4.0 11
78
0
0
0.25 - 0.50acre
45
$ 753,900
0
0
11
5.0
0.25 - 0.50acre
24.0
1692 4,501 -6,500 sqft
10
$ 519,900
4.0
171
0.25 - 0.50acre$ 1,112,500
4.5$ 2,100,000
28
0
3910
Demand measured by the MarketAction Index is increasing and days-on-market is trending downward.Even as more properties comeavailable, these are positive trendsfor the market.
Monday November 30, 2009
Anthony Knight | 303-475-8075
10
2660
2.0
The median list price in BOULDER, CO80304 this week is $887,000. The 42properties have been on the marketfor an average of 164 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
BOULDER, CO80304
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
42
$ 3,200,000
$ 239,900
$ 1,147,048
33
Trend Key:
Inventory levels have been relativelyconsistent relative to sales. Despitethe fact that there is a relativelyhigh amount of available inventory,this Buyer's market is still seeingprices move higher. Given inventorylevels, these price conditions arerelatively fragile. If the marketcools off further, the price trend islikely to reverse.
Page 12 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80304
Monday November 30, 2009
Median PriceAgain this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus theirabsolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leadingindicator for a trough in prices.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see pricing in this zip code is lacking strong directional indication lately. Quartiles 1 and 3are up while Quartiles 2 and 4 are basically flat in recent weeks. Watch for persistent shifts in the Market Action Index for aleading indicator of stronger price moves in the market as a whole.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 13 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80304
Monday November 30, 2009
Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the MarketAction Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.
90-day Average7-day Average
Page 14 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80304
Monday November 30, 2009
Market Action IndexThe BOULDER, 80304 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 14.07. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Page 15 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80304
Monday November 30, 2009
Days on MarketThe properties have been on the market for an average of 164 days. Half of the listings have come newly on the market in thepast 133 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 16 of 31
Median List Price
Median Lot Size
15.4
Percent Relisted (reset DOM)
2917
4.0
4 %
Median Number of Bathrooms
211
Inventory of Properties Listed
$ 254
Percent Flip (price increased)
0.50 - 1.0 acre
Median House Size (sq ft)
$ 680,000
33 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
17 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
==
==
==
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
10 05372
1683.0 45
3.0
0
248
4.0 6
170
0
1
0.25 - 0.50acre
44
$ 609,450
0
0
6
5.0
1.0 - 2.5acres
03.5
2112 0.25 - 0.50acre
6
$ 412,825
4.5
257
not available$ 799,500
5.0$ 1,374,500
42
0
3650
Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.
Monday November 30, 2009
Anthony Knight | 303-475-8075
6
2278
3.0
The median list price in BOULDER, CO80303 this week is $680,000. The 24properties have been on the marketfor an average of 211 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
BOULDER, CO80303
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
24
$ 5,295,000
$ 279,900
$ 969,302
37
Trend Key:
The market has shown someevidence of slowing recently. Bothprices and inventory levels arerelatively unchanged in recentweeks. Watch the Market ActionIndex for changes as it can be aleading indicator for price changes.
Page 17 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80303
Monday November 30, 2009
Median PriceIn this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice uptrend in general over the last several weeks.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see prices in the individual quartiles not demonstrating strong directional correlationlately. Quartile 2 has been trending up recently, but unless we see a persistent up-shift in the Market Action Index, it will likelyresume the trend of the rest of the market.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 18 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80303
Monday November 30, 2009
Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Page 19 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80303
Monday November 30, 2009
Market Action IndexThe BOULDER, 80303 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 15.37. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Page 20 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80303
Monday November 30, 2009
Days on MarketThe properties have been on the market for an average of 211 days. Half of the listings have come newly on the market in thepast 161 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 21 of 31
Median List Price
Median Lot Size
18.2
Percent Relisted (reset DOM)
3496
3.0
0 %
Median Number of Bathrooms
217
Inventory of Properties Listed
$ 333
Percent Flip (price increased)
0.25 - 0.50 acre
Median House Size (sq ft)
$ 872,000
30 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
10 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
==
==
≠≠
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
46 05425
1223.0 40
3.0
0
302
4.0 8
257
0
1
0.50 - 1.0acre
31
$ 674,500
0
0
8
5.0
8,001 -10,000 sqft
34.0
1593 1.0 - 2.5acres
7
$ 399,950
4.0
195
0.25 - 0.50acre$ 1,495,000
5.0$ 2,700,000
12
0
4332
Inventory is tightening and days-on-market is falling. The Market ActionIndex shows demand heating up.These are relatively bullish signs forprices.
Monday November 30, 2009
Anthony Knight | 303-475-8075
7
2394
2.0
The median list price in BOULDER, CO80302 this week is $872,000. The 30properties have been on the marketfor an average of 217 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
BOULDER, CO80302
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
30
$ 4,750,000
$ 345,000
$ 1,446,137
47
Trend Key:
Home sales have been exceedingnew inventory for several weeks.While still a Buyer's market, pricesseem to have responded by movingupward. If the demand trendscontinue, expect prices to keepmarching upward, especially oncewe see a Seller's Market.
Page 22 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80302
Monday November 30, 2009
Median PriceDespite this week's down tic, price trends in this zip code have generally been moving up lately. We are below the market's highpoint, and we'll investigate the Market Action Index later on to see if we expect this week's blip to become a downward trend.
90-day Average7-day Average
Quartile PricesIn the quartile market segments, we see the upper-half of the market (Quartiles 1 and 2) in this zip code showing weaknessrecently while the lower-half prices have remained strong. Quartiles 3 and 4 have been increasing in the last few weeks. Theseconvergent trends cannot continue indefinitely, so look to the Market Action Index Quartile breakdown to see which group willchange direction.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 23 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80302
Monday November 30, 2009
Price per Square FootThe market appears to be placing an increasing premium on homes. When list prices and price per square foot consistentlyincrease in tandem, as they're doing now, you can often find short-term investment opportunities. Watch the Market ActionIndex for persistent changes as a leading indicator for these trends to flatten or drop.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Page 24 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80302
Monday November 30, 2009
Market Action IndexThe BOULDER, 80302 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 18.17. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Page 25 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80302
Monday November 30, 2009
Days on MarketThe properties have been on the market for an average of 217 days. Half of the listings have come newly on the market in thepast 161 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 26 of 31
Median List Price
Median Lot Size
15.9
Percent Relisted (reset DOM)
2709
3.0
14 %
Median Number of Bathrooms
265
Inventory of Properties Listed
$ 311
Percent Flip (price increased)
0.25 - 0.50 acre
Median House Size (sq ft)
$ 749,000
43 %
4.0
Market Action Index
Median Number of Bedrooms
Asking Price Per Square Foot
14 %
Percent of Properties with Price Decrease
Strong Buyer's
≠≠
≠≠
≠≠
==
==
Altos Research Value Statistics
Most Expensive Listing
Average Days on Market (DoM)
Bottom/Fourth
Lower/Third
Upper/Second
Top/First
This Week Real-Time Market Profile Trend
The Market Action Index answers the question "How's the Market?" By measuringthe current rate of sale versus the amount of the inventory. Index above 30implies a seller's advantage. Below 30, conditions give the advantage to thebuyer.
Supply and Demand
Characteristics per Quartile
9 14519
3543.0 46
3.5
0
378
4.0 2
144
0
1
0.25 - 0.50acre
34
$ 699,500
0
0
2
6.0
0.25 - 0.50acre
23.0
1768 4,501 -6,500 sqft
2
$ 482,400
4.5
105
0.50 - 1.0acre$ 1,698,500
4.0$ 2,880,000
40
2
4831
Inventory has been lightening latelyand the Market Action Index has beentrending up. Though days-on-marketis increasing, these are mildly positiveindications for the market.
Monday November 30, 2009
Anthony Knight | 303-475-8075
1
2576
2.0
The median list price in BOULDER, CO80305 this week is $749,000. The 7properties have been on the marketfor an average of 265 days.
Most expensive 25% of properties
Upper-middle 25% of properties
Lower-middle 25% of properties
Least expensive 25% of properties
Quartile Median Price Lot Size Beds Baths Age Inventory New Absorbed DOMSq. Ft.
No change
Strong upward trend Strong downward trend
Slight upward trend Slight downward trend±+
== ≠≠
≠=
BOULDER, CO80305
Neighborhood Detail
Least Expensive Listing
Average List Price
Average Age of Listing
7
$ 2,880,000
$ 394,900
$ 1,234,400
36
Trend Key:
Inventory levels have been relativelyconsistent relative to sales. Despitethe fact that there is a relativelyhigh amount of available inventory,this Buyer's market is still seeingprices move higher. Given inventorylevels, these price conditions arerelatively fragile. If the marketcools off further, the price trend islikely to reverse.
Page 27 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80305
Monday November 30, 2009
Median PriceAgain this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus theirabsolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leadingindicator for a trough in prices.
90-day Average7-day Average
Quartile PricesNot surprisingly, given the condition of the overall market, all quartiles have shown price strength in recent weeks. All havebeen increasing in price lately. Watch for a persistent decline in the Market Action Index as a leading indicator for the top of themarket.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 28 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80305
Monday November 30, 2009
Price per Square FootThe market's downward trends are shared across both price and value. People are recently placing less value on homes (you cansee the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as aprecursor to price and value changes, possibly as inflection points for good investment opportunities.
90-day Average7-day Average
Inventory of Properties Listed for SaleInventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look tothe Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
90-day Average7-day Average
Page 29 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80305
Monday November 30, 2009
Market Action IndexThe BOULDER, 80305 market is currently quite strongly in the Buyer's Advantage zone (below 30). The 90-day Market ActionIndex stands at 15.90. With several months of inventory available at the current sales rate, buyers should find ample choice.
Buyers/Sellers Cutoff90-day Average
Market Action Index per QuartileNot surprisingly, all quartiles are in the Buyer's Market zone with several months of inventory given the current levels ofdemand. Watch the quartiles for changes before the overall market shifts.
First/Top Second/Upper Third/Lower Fourth/Bottom
Buyers/Sellers Cutoff
Residential house prices are a function of supply and demand, and market conditions can be characterized byanalyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantagezone (below 30) for a long period, prices are likely in for a downward correction.
The Market Action Index (MAI) illustrates a blance between supply and demand using a statistical function of thecurrent rate of sale versus current inventory.
Page 30 of 31
Anthony Knight | 303-475-8075
Neighborhood DetailBOULDER, CO
80305
Monday November 30, 2009
Days on MarketThe properties have been on the market for an average of 265 days. Half of the listings have come newly on the market in thepast 224 or so days.
90-day Average7-day Average
Days on Market per QuartileIt is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
First/Top Second/Upper Third/Lower Fourth/Bottom
Page 31 of 31