Prepared by Neil Kearney Kearney Realty Co/ Metro Brokers Information can only be used with permission Copyright 2010 All data from IRES, MLS
Number of sales down. Homes below the “median” are selling. Different prices for different areas. Higher priced homes have trouble finding buyers. Slow start to the year and then improving as the year progressed. Outside influences include – tight credit, tax credits for first time buyers and low interest rates for conventional loans (up to $417,000). Consumer confidence begins a slow return. Opportunities in the market – foreclosures, motivated sellers. Copyright 2010 Neil Kearney, Kearney Realty Co.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Median MedianPrices Prices were down were down3.6% 3.6% and and3.9% 3.9%inin 2008 2008&&2009. 2009.
Copyright 2010 Neil Kearney, Kearney Realty Co. 2010
InInthe theCity CityofofBoulder, Boulder,sales salesofof single singlefamily familyhomes homesare aredown down 45% 45%from from2004 2004and andwere weredown down 25% 25%from froma ayear yearago. ago.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Prices Priceswithin withinthe thecity citylimits limitsofof Boulder have been fairly Boulder have been fairly stable. stable.Median Medianprices pricesfor for homes were down homes were down2.2% 2.2%&& 2.4% 2.4%over overthe thepast pasttwo twoyears years and condos were up 3.7% and condos were up 3.7%and and down down3.6%. 3.6%.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Copyright 2010 Neil Kearney, Kearney Realty Co.
On average it would take 6 ½ months to sell all of the current inventory of single family homes given the sales pace over the past year.
Copyright 2010 Neil Kearney, Kearney Realty Co.
It would take just under 6 months to sell all of the current inventory of condos in the county if 2009’s sales pace continues
Copyright 2010 Neil Kearney, Kearney Realty Co.
All Sales of residential real estate within the City of Boulder were down 21% during 2009.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Median Medianprices pricesfor forallall residential residentialreal realestate estateinin Boulder was down Boulder was down1.7% 1.7%during during 2009. 2009.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Sales SalesininLouisville Louisville bucked buckedthe thetrend trend and andwere wereup up3% 3% during during2009. 2009.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Median prices in Louisville have climbed each year. During 2009 prices were up 3.7%.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Sales SalesininLafayette Lafayette were down were down16% 16%last last year year&&down down49% 49% from fromthe the2003 2003peak. peak.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Median Medianprices priceshave havebeen been fairly fairlystable stableininLafayette, Lafayette, just down 1.6% just down 1.6%over overthe the past past22years. years.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Sales SalesininLongmont Longmontwere were down down15% 15%for forthe theyear year and down 46% from and down 46% fromthe the peak peakback backinin2000. 2000.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Median Medianprices pricesinin Longmont Longmonthave have spent spentmost mostofofthe the decade between decade between $210,000 $210,000and and $230,000 $230,000
Copyright 2010 Neil Kearney, Kearney Realty Co.
Sales SalesininSuperior Superior were wereup up7% 7%inin 2009. 2009.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Median Medianprices prices have been have beenfairly fairly stable stableininSuperior. Superior. Prices Priceswere wereup up $3,000 $3,000during during 2009. 2009.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Sales Saleshave haveremained remained strong strongininErie. Erie.The The mix of new mix of new construction constructionand and relatively low prices relatively low prices have haveheld heldsales salestoto within 16% of within 16% ofthe theallalltime high. time high.
Copyright 2010 Neil Kearney, Kearney Realty Co.
The Thespike spikeinin 2006 2006isiswhen when Anthem Ranch Anthem Ranch went wentonline. online.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Suburban SuburbanPlains Plains includes, includes,Niwot, Niwot, Gunbarrel and Gunbarrel andallall unincorporated unincorporatedland land within Boulder County. within Boulder County.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Median Medianprices pricesininthe the Suburban Plains dropped Suburban Plains dropped $50,000 $50,000during during2009. 2009. Mainly because of Mainly because ofthe the predominance predominanceofof expensive expensivehomes homesininthe the area areawhich whichwere werenot not selling. selling.
Copyright 2010 Neil Kearney, Kearney Realty Co.
The Themountains mountains have been have beenhard hard hit, hit,since since2004 2004 sales salesare aredown down 56%. 56%.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Even Eventhough thoughsales sales are down, prices are down, prices have haveheld heldtheir their own in the own in the mountains. mountains.
Copyright 2010 Neil Kearney, Kearney Realty Co.
After Afteraameteoric meteoricrise, rise,the the number of properties number of properties selling sellingover over$1$1million million has fallen 46% over has fallen 46% overtwo two years. years.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Copyright 2010 Neil Kearney, Kearney Realty Co.
Quick start due to extended tax credit and low interest rates. Interest rates will rise during the year. Foreclosures and short sales will continue to be a large segment of the market. Look for more distressed sales in the upper ranges. I think 2010 will be a recovery year – heading the right direction. Copyright 2010 Neil Kearney, Kearney Realty Co.
Neil Kearney
Broker/Owner Kearney Realty Co. / Metro Brokers
For ongoing information and analysis visit www.NeilKearney.com Copyright 2010 Neil Kearney, Kearney Realty Co.