Real Estate Update - June 2020

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Real Estate

 
Is the Real Estate Market back to normal?

I hope everybody is doing well and found a new balance in these turbulent times. In real estate everything is looking quiet normal for this time of year and it is almost like nothing had happened. Just a few safely additions like wearing masks and gloves and making sure we wipe down touched surfaces. Since, in person showings of listed homes were allowed on May 9th the market bounced back in huge strides. I was really surprised how fast this happened. The graph below from ShowingTime shows in a very vivid way how strong interested buyers did not think twice about getting back into searching for their next home even with the extra COVID-19 rules and regulations.

 

It seems sellers are holding back more then buyers. The number of new listings which came on the market in the first two weeks of June 2020 compared to the first two weeks of June 2019 did not completely catch up. My experience right now with showings is that some sellers just feel uncomfortable having people walk through their homes - especially when it is still owner occupied - because of the potential spread of germs. This may lead them to hold off on putting their home on the market if it is not urgent for them to sell.

 

    

 

During this time the buyer activity is still strong. Meaning that buyers are still confident in the Boulder housing market and it won't deter them from purchasing homes even with the unknown economic future of high unemployment. 72 homes went under contract compared to 54 last year in the same time frame. This shows that we still have a seller's market and a high demand for homes. Right now is a great time to sell!

The average listing price is up compared to last year at this time as well as the average sold price. I was surprised to see the average Under Contract number so high and found out that one home was screwing up my numbers:

 

1489 Sunset Blvd., Boulder, CO 80301, listed for $7,500,000 got under contract after just 8 days.

 

 

 What a majestic home in beautiful Boulder!

 

One more thing

Right at the beginning of the pandemic when all social distancing rules were enforced one of my clients gave me a face mask made out of a silver lined fabric. The fabric has anti-microbial properties. Since that time, I have worn this mask for all occasions of life. Whether I am out with my clients or at the grocery store, this is the mask I choose to wear. They can be washed if necessary but due to the fabric already being antimicrobial you can wear them over and over. In case you are interested to learn more about the fabric and the masks please follow this link https://tru47.com/collections/masks

 

 

 

My client is a partner in the company and would like to offer the discounted wholesale price to Coldwell Banker agents and their clients. The wholesale code is TRUE40WH, free shipping over $75.

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If you enjoyed reading this newsletter please let me know, it would be great to hear from you!

Best!

 

Stephanie Haile-Pflaum
Associate Broker
Coldwell Banker Residential Brokerage
PflaumRealEstate.com

cell: 720.335.8845