My goal for this column is to give readers: 

Tips and ideas regarding buying and selling property. 
Statistical information about sales and listings in Boulder County and the readership area. 
Explanations of real estate terminology and processes 
Answers to real estate questions readers may have. 
To have fun while doing the other four. 

Comparing the first 10 months of 1998 to 1997, we find that in Boulder County in 1998 there was a 13% increase in new listings of single family homes and a 17% increase in the number of homes sold. In the Niwot/Gunbarrel area, there was an actual 6% decrease in the number of new listings on the market, but still a 17% increase in the number of homes sold. These numbers indicate that the inventory of homes available for sale is dropping. The statistics used are compiled by the Boulder Area Board of Realtors, and only reflect those sales conducted by a Realtor. 

In December,1997 the year-to-date median price for homes in the Courier's readership area ranged from $245,850 to $349,750 dependent upon the area, as specified by the Multiple Listing Service. As of the end of October 1998, the year-to-date median price ranged from $279,900 to $455,000, an increase in the range of prices from 14% to 30%! 

The average number of days on the market (DOM) for single family homes, as of December 21, 1998, was 68. In December, 1997 the average DOM was 81.4. According to the numbers, the market is "hotter" now than a year ago. In my opinion, the average DOM in a balanced market is about 90. The lower the number, the more of a seller's market: the higher the number, more of a buyer's market. 

What does 1999 bring? From what I hear on the street, the interest rates are at, or have already hit, bottom. With money being drawn to the stock market, pressure is being put on interest rates to rise. However, who knows how much or how quickly. With the inventory or supply down year-to-date from last year and a seemingly strong demand, it appears as though prices will rise. 

Until next time! 

Should you have a real estate question, please send it to: 

Eli c/o the Left Hand Valley Courier 
P.O. Box 590 
Niwot, Colorado 80544