The real estate market is off to a quick start this year. I see three major reasons why we are seeing increased activity. The first is the extended tax credit. The second is low interest rates. The next reason is less quantifiable but just as valid. I see the third cause of the improved market so far this winter as an overall improved confidence. Many people have been slogging along over the past 18 months, listening to bad news, cutting their spending and hoping it doesn’t affect them too much. Just like a farmer’s tentative first steps out of the cellar after the tornado, most people pick up a few sticks and are glad the tornado hit the next town. It’s time to start living again.
Showings are very strong and contracts are just starting to react. You will see that total sales in Boulder County were just about the same as they were last January. Not great, the feel going forward is totally different. Last January the phones were silent and people were in shock. This year contracts are up and we are ready for an early spring.
It feels like we have a lot of “mass” behind the early sales. Most of the early activity is still in the lower price ranges. However, there are currently 16 homes under contract which are listed above $1,000,000 in Boulder County. Let me know if you questions. But for now I need to get back to work.
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