Existing home sales edge down, prices rise

May 1, 2013 by

Existing home sales edge down, prices rise

 

A realtor shows a home in Riverside, California May 24, 2012. REUTERS/Alex Gallardo

By Margaret Chadbourn

(Reuters) – Home resales edged downward in March, pointing to some slowdown in the housing marketrecovery pace as overall economic activity cools.

The National Association of Realtors said on Monday existing home sales slipped 0.6 percent last month to a seasonally adjusted annual rate of 4.92 million units.

Economists polled by Reuters had expected home resales to rise to a 5.01 million-unit rate.

“The disappointing pace of home sales provides some evidence that positive momentum in the housing sector is beginning to leak lower,” said Millan Mulraine, a senior economist at TD Securities in New York.

Still, the housing market recovery that has helped boost the economyremains intact, and there is some evidence the slowdown in sales may represent supply constraints more than crimped demand.

Sales in March were 10.3 percent higher than the same month last year, and the median price for a home resale was up 11.8 percent, the biggest increase since November 2005, to $184,300.

“The report suggests that the overall thrust of the sector remains positive, with the demand and supply dynamics continuing to favor further price gains,” said Mulraine.

The data added to other reports such as employment and factory activity suggesting a loss of momentum in the economy as the first quarter ended.

U.S. stocks were mixed as corporate earnings pointed to an uncertain growth outlook. Prices for U.S. Treasury debt rose to session highs on the data as it was seen as confirmation of some slowing in U.S. economic growth.

Courtesy of www.reuters.com

 

 

John Marcotte

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Preserving Our Environment

April 30, 2013 by

Preserving Our Environment

The Center of the Green Movement — Groundbreaking Practices Establish Lifestyle Standards

Boulder’s reputation as an environmental leader didn’t happen overnight or by accident.  Since 1951, Boulder has instituted groundbreaking sustainable practices ensuring the preservation of its land and lifestyle.   Federal research labs, an innovative university, self imposed taxation to purchase open space, curbside recycling, city-wide mandated residential green codes and a carbon taxare all firmly rooted into the community.  Shopping malls have parking spots dedicated for hybrids, the soccer team is carbon-neutral, restaurants use locally-raised produce, and kindergarteners plant trees on Earth Day.

Here are more ways that Boulder is ensuring the preservation of its land and lifestyle…

  • Smart Growth — There are 43,000 acres of open space in and around the city of Boulder. This land is preserved because Boulder residents approved a sales tax earmarked specifically to buy, manage and maintain open space. The residents made history in 1967 by being the first US city to tax itself for open space. Additionally, 65% of the land in Boulder County is protected from development. Boulder was also one of the first communities in the country to have curbside recycling
  • Healthy Living — Boulder is full of trails, shops and food that support active lifestyles. There are 350 miles of dedicated bike lanes, routes, shoulders and paths in town. The largest concentration of natural-and organic-products companies in the country is found in Boulder. The Boulder County Farmers’ Market is the largest in the state and there are 70 organizations in town that embrace the idea of local, seasonal and artisanal cooking. There are over 70 Olympians living in Boulder County who are drawn to the area because of the supportive athletic culture.
  • Climate Advancements — Hundreds of scientists collaborated with former Vice President Al Gore and were awarded the 2007 Nobel Peace Prize on climate change. Nearly 40 of these scientists live and work in Boulder.
  • Research Facilities — There are seven federal research labs and 3600 scientists in Boulder that focus on science, innovative technology and climate change. Additionally, the city itself will become a research facility as Xcel Energy and the city have partnered to create the nation’s first fully-integrated digital electricity system.
  • Renewable Energy — Along the Pearl Street Mall, most of the shops and restaurants are powered by wind and the Wi-Fi is solar powered. The City of Boulder has 193 alternative fueled vehicles. Beginning in 2012, thousands of ConocoPhillips employees will come to Boulder to train at the company’s hub for research and development of renewable and alternative energy. The National Wind Technology Center is located six miles from Boulder and much of the wind industry’s success can be attributed to the research conducted at this facility.

For more information specifically regarding the environment, visit http://www.bouldercoloradousa.com/media/green

 

John Marcotte

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Boulder tops the lists

April 29, 2013 by

Boulder tops the lists

2012
Top Ten Foodie Cities – Livability.com, January 2012
Best Underrated College Towns – NextGen Journal, February 2012
Top Sommeliers of 2012 (Pizzeria Locale) – Food & Wine, April 2012
#1 “America’s Most Creative Cities” – Richard Florida’s Creative Class Index, June 2012
20 Best Vacation Destinations – Frommers, June 2012

2011
Top 10 Winter Towns – National Geographic Traveler, January 2011
10 Great College Towns – US News & World Report, February 2011
#1 “America’s 15 Most Active Cities” – Centers for Disease Control & Prevention Study February 2011
Happiest and Healthiest City – Gallup-Healthways Well-Being Index, March 2011
America’s Best New Bars (Oak) – Food & Wine, April 2011
#9 “Top 25 Small Cities for Art”– AmericanStyle magazine, June 2011
10 Great Places for City Cycling– USA Today, July 22 2011
10 College Towns with the Best Food– The Daily Meal, September 14 2011
#1 Most Educated Metro Area – US Bureau of Labor Statistics, October 2011
50 Best Bars in America (Oak) – Food & Wine, December 2011
5 Great College Towns for Winter Enthusiasts – US News, Dec 2011
#7 “Top US Travel Destinations for 2012” – Lonely Planet, December 2011

 

2010
Top 25 Destinations in the US – TripAdvisor, January 2010
#4 “Eleven Most Bike Friendly Cities in the World” – Virgin Vacations, January 2011
Happiest and Healthiest City – Gallup-Healthways Well-Being Index, February 2010 #3 America’s Best Bike Cities – Bicycling magazine, May 2010
America‘s Best College Towns – MSNBC.com, June 25, 2010
#9 “Top 25 Small Cities for Art” – AmericanStyle magazine, June 2010
10 Best Cities for the Next Decade – Kiplinger’s Personal Finance, July 2010
America‘s Top Adventure Towns – NationalGeographic.com, September 2010America‘s Foodiest Town – Bon Appetit, October, 2010
Best College Football Towns – Associated Press, October, 8, 2010
America’s “Brainiest” City – Portfolio.com, December 2010

 

John Marcotte

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Boulder’s History is No Mystery

April 28, 2013 by

Boulder’s History is No Mystery

Plenty of Ways to Stay, Eat, Play, Listen, See and Learn

Boulder’s history is easily experienced.  From its aesthetically-appealing historic downtown and neighborhoods, historic walking and bus tours, to its own National Historic Landmark, this college town of 103,000 residents is a history-lover’s dream town.

Downtown Boulder – Boulder celebrated its 150th anniversary in 2010 and the town’s history is evident in a number of places around town, most notably in the downtown historic area.   The Downtown Boulder Historic District was listed on the National Register of Historic Places in 1980.  Pearl Street is the main street and four blocks of it are closed to traffic which make-up the Pearl Street Mall.  It is the heart and soul of Boulder and the perfect spot to see Boulder’s distinctive lifestyle.    http://www.boulderdowntown.com/

  • Stay: Overnight at one of Boulder’s downtown historic properties – the Hotel Boulderado, the Bradley Boulder Inn, or the Briar Rose B&B.
  • Eat: Many of Boulder’s favorite restaurants are located in historic downtown Boulder.
  • Play:  Little kids cool-off by playing in the pop-jet fountains located on the pedestrian mall in front of the art deco Boulder County Courthouse.
  • Listen: Take a tour from Banjo Billy Bus Tours or Boulder Walking Tours and listen to guides tell stories about Boulder’s historic people and places.
  • See: Historical signs with words and photographs displayed along the Pearl Street Mall.
  • Learn: The Boulder History Museum is open every day except Mondays.

Chautauqua – Teddy Roosevelt called it “the most American thing in America.”  He was referring to the Chautauqua Movement, which was at its height in the late 1800’s through the early 1900’s, and was where Americans traveled to gather for multiple days to enjoy stimulating lectures, music, camaraderie and nature.  The Colorado Chautauqua was, and still is, located in Boulder.  It was named a National Historic Landmark in 2006.  It is located on 40 acres at the bottom of Boulder’s mountains – exactly where the mountains meet the plains – and is made up of nearly 100 cottages, a restaurant, an auditorium, a park, hiking trails and wide open spaces.  http://www.chautauqua.com/

  • Stay: Overnight in a historic cottage (studios to 3-bedrooms).
  • Eat: Linger on the wrap-around porch of the restaurant, circa 1898.
  • Play: Throw a ball, run around or take a nap under the big old trees in Chautauqua Park.
  • Listen: Attend a concert – symphonic or rock & roll – in the historic auditorium.
  • See: Stroll through the streets, gardens and hiking trails.

History – Boulder was first populated by miners who flocked to the area when gold was discovered in Boulder Canyon.  The city’s beginnings date to 1859 when a group of foresighted settlers organized the Boulder City Town Company.  In the early years, the town grew slowly, because lots were expensive and business was limited to trades which supplied the mining towns in the mountains.  In 1873, railroads connected Boulder to other major areas.  Between 1873 and 1880, the population tripled.  The young community of Boulder began preserving land in 1898 with the purchase of Chautauqua Park.    By the end of the 19th century, Boulder had already established itself as a center for health, recreation, and culture.  In 1967, Boulder became the first city in the US to tax itself for the acquisition, management, and maintenance of open space.  Today, there are 45,000 acres of this open space surrounding the city.

Located 35 minutes northwest of Denver and 45 minutes from Denver International Airport, Boulder is a captivating community enriched with natural beauty, hip urban culture and a vibrant love of the outdoors. Visit Boulder and experience its distinctive lifestyle overflowing with world-class restaurants, inspired shopping and art, unbeatable people watching, and thousands of acres of wide open spaces.

 

 

 

John Marcotte

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Boulder Facts

April 27, 2013 by

Boulder Facts


Location
Boulder is nestled in the foothills, where the rolling plains meet the Colorado Rocky Mountains. Centrally located near Denver, Denver International Airport, Eldora Ski Resort (Johnnie’s mountain!) and Rocky Mountain National Park. Downtown Denver is just 35 minutes away.  A few hours from many of Colorado’s world-famous ski resorts, making Boulder the ideal Colorado destination.

Age Demographics
18-24 Years — 31%
25-44 — 36%
45-64 — 25%
65+ — 8%
Median — 29

Elevation & Size
5,430 feet (Denver is 5,280 feet); City of Boulder is 27.8 square miles.

Population
102,500 residents, including 25,000 students at the University of Colorado.

Weather
Four distinct seasons and over 300 sunny days a year.
Average temperature highs/lows:

Spring (March-May) — 63/35 F
Summer (June-August) — 83/55 F
Fall (September-October — 72/45 F
Winter (November-February) — 45/23 F
Average 83.3 inches of snowfall a year.

Recreation
Rated the “#1 Sports Town in America” by Outside Magazine, Boulder offers countless year-round recreational activities. Take advantage of the 200 miles of public hiking and biking trails, approximately 43,000 acres of open space or the Boulder Creek Path, which runs through the middle of own.

Arts & Culture
More than 30 art galleries, 4 local museums, 32 movie & stage theaters and many festivals, including the Colorado Shakespeare Festival, Colorado Music Festival and Chautauqua Summer Festival.

Dining
More than 400 restaurants featuring local, regional and international foods.

Accommodations
Approximately 2,000 guestrooms, ranging from full service city hotels to rustic cabins to historic Victorian suites.  Whether you are staying at a cozy Bed & Breakfast or our largest conference hotel, mountain views and proximity to activities will ensure an unparalleled experience.

Sister Cities
Dushanbe, Tajikistan; Jalapa, Nicaragua; Lhasa, Tibet; Mante, Mexico; Yamagata, Japan

Founded
City of Boulder founded in 1859.

Courtest of www.bouldercoloradousa.com

 

 

John Marcotte

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Things to Do in Boulder

April 26, 2013 by

Things to Do in Boulder 
Located 35 minutes northwest of Denver, Boulder is a captivating community enriched with natural beauty, hip urban culture and a vibrant love of the outdoors. Visit Boulder and experience its distinctive lifestyle overflowing with world-class restaurants, inspired shopping and art, and unbeatable people watching.

SHOP

The Pearl Street Mall is a four-block-long pedestrian area in historic downtown Boulder. It is the heart and soul of Boulder and where 85% of stores are independently owned.  Spend time ducking in out of art galleries and independently owned shops and stroll along sidewalk cafes.  Pearl Street Mall is also the place to watch Boulder’s street performers.  The new Twenty Ninth Street retail district is full of the best national retailers and The Hill is the place to shop alongside college students.

EAT

Boulder’s restaurants and chefs have been highlighted in Bon Appetit, Wine Spectator, Gourmet, Food and Wine, the New York Times, USA Today, on Top Chef and at the James Beard House. Boulder might feel like a small town, but its sophisticated lifestyle demands a rich dining diversity that rivals any major metropolitan area.  Many of our restaurants embrace the idea of local, seasonal, artisanal cooking.   The Farm-to-Table movement is strong.

SEE GREEN

Boulder has what it takes to make a town green – a strong recycling program, green hotels, organic restaurants, a network of trails and fresh thinking.  You’ll probably notice alternative energies – you’ll see cars that are fueled with bio-diesel and shops along the Pearl Street Mall are wind powered and its Wi-Fi is solar powered.  Also, many climate change scientists work in Boulder – 40 of them were members of Former Vice President Al Gore’s team that won the Nobel Prize on climate change in 2007.

 

BIKE, HIKE, ALONG THE CREEK

Renting a bike is a fun way to see the town and experience Boulder as a local.  Bike shops rent cruiser bikes or the fastest racing bikes for an hour or a day.  There are easy trails for picnics and strolls along Boulder Creek or hard core trails if you’re looking for something tougher.

BE INSPIRED

While Boulder is known to be one of America’s most enthusiastically outdoor-recreation-focused communities, our arts scene is vigorous and diverse. At the Colorado Shakespeare Festival you can sit under the stars and watch a play.  The Colorado Music Festival performs in a hundred-year-old wooden auditorium and the acoustics are still perfect.  Downtown is full of galleries and free outdoor concerts.  Boulder is consistently named as one of the best art towns in the country.

Courtesy of www.bouldercoloradousa.com

 

John Marcotte

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30 Reasons to Love Boulder

April 25, 2013 by

30 Reasons to Love Boulder

1.   Listening to the babbling Boulder Creek while strolling or biking the scenic Boulder Creek Path – right through the middle of town.

2.   Tours that speak to whatever your passion is – from bikes to food and history to brews.

3.   High-fiving other hikers at the top of the thigh-burning Mt. Sanitas hike – and then being rejuvenated by the views of Boulder Valley.

4.   Letting tiny tots strip down and run with total glee through Pearl Street’s pop-jet fountain (at Pearl and 14th Sts).

5.   Sipping cocktails made by ingredient-obsessed mixologists at Bitter Bar, Salt or Oak at Fourteenth.

6.   Hearing a concert – any concert – at Chautauqua Auditorium, with its breathtaking acoustics. Audiences can listen for owls hooting in the
rafters between songs.

7.   Dining at dozens of award-winning restaurants that make us America’s Foodiest Town, according to Bon Appétit magazine.

8.   Admiring the view at University of Colorado’s Varsity Bridge, which resembles a scene from an impressionist painting.

9.   Hopping on a bike (easily rented from one of the many shops throughout town) and seeing the sights like a local.

10.   More tech startups than you can shake a stick at – and the culture to go along with it (think artisanal coffee shops and geek-er-ific
event like Ignite Boulder).

11.   The free tea factory tour at Celestial Seasonings, which happens every hour on the hour daily and comes with free tastings and a look
at their special art gallery.

12.   Delicious bites, beautiful bouquets and locally produced foods at the Boulder Farmers’ Market, one of the best in the West.

13.   Free Saturday visits (during the farmers’ market) to the Boulder Museum of Contemporary Art.

14.   Admiring every square inch – inside and out – of the ornate Boulder Dushanbe Teahouse, which was created in Tajikistan, given as a
gift to Boulder, and shipped and assembled here.

15.   Walking where beat poets Allen Ginsberg and Anne Waldman might have walked on the campus of the Naropa Institute, one of the few
major accredited Buddhist-inspired universities in North America.

16.   A beer paired with a phenomenal view of the Flatirons on the rooftop of West End Tavern.

17.   Shopping big-name brands – with a big-sky view of the Flatirons – at the Twenty Ninth Street mall.

18.   Making the short but dramatic hike to Boulder Falls, nestled in Boulder Canyon.

19.   Taking a tour, embarking on a hike or admiring the I.M. Pei-designed architecture at the striking National Center for Atmospheric
Research (NCAR).

20.   Watching the raucous Thursday evening cruiser ride – a group of costumed, cheering bicyclists – whiz by. Or better yet, joining the ride.

21.   Rediscovering the lost art of mead-making at the tucked-away Redstone Meadery.

22.   Catching a nationally known musician at the legendary and intimate Boulder Theatre.

23.   Enjoying an ice cream cone while taking in some of the best people-watching in the world on the Pearl Street Mall.

24.   Having a picnic on the sprawling, grassy hillside (while the kiddos play on a model rocket ship) at Scott Carpenter Park – all with a view
of the iconic Flatirons.

25.   Creative exhibits at the Boulder History Museum, such as “Beer! Boulder’s History on Tap.”

26.   Shakespeare under a starry mountain sky at the Colorado Shakespeare Festival.

27.   Live radio tapings, incredible musicians, and a do-good mission at eTown Hall.

28.   Swishing, sipping and savoring local wines at Bookcliff Vineyards or Boulder Creek Winery.

29.   Heading to the Hill, the student-centric neighborhood adjacent to the University of Colorado, for casual eats and great shows
at the Fox Theatre.

30.   Riding a saddle or lounging in a recliner aboard Banjo Billy’s Bus Tours’, a hard-to-miss shack on wheels.

 

Courtesy of www.bouldercoloradousa.com

 

John Marcotte

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New home permits rise 56%

April 24, 2013 by

New home permits rise 56%

Denver-area home builders started out the year on a strong note, as they struggle to meet consumer demands for new houses in a market with a record-low inventory of resale homes.

In January, builders pulled 497 permits for homes, a 55.8 percent increase from the 319 permits issued in January 2012, according to a report by the HBA of Metro Denver.

Brookfield Homes is having great success with its Midtown community, minutes from the more expensive Highland.

Brookfield Homes is having great success with its Midtown community, minutes from the more expensive Highland.

The report covers the counties of Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Elbert and Jefferson, as well as every municipality in every county.

“January was the 22nd consecutive month that showed an increase from the same month in the previous year,” said Jeff Whiton, CEO of the HBA of Metro Denver.

The report also showed that single-family attached permits rose by 66 percent to 83 from 50 and apartment permits rose a whopping 345 percent to 276 from 62. In total, for all product types, there were 864 permits issued in January, a 100.5 percent increase from January 2012.

Permits are a sign of future construction.

Whiton said that while 2013 may show huge percentage increase in permit from 2012, as 2012 did from 2011, housing activity will still be far off its historic norm of about 15,000 housing starts annually.

“Let’s say we do 8,500 homes this year,” Whiton said. “That is about half of the 15,000 we do in a traditional year and a long way from a booming housing market,” when builders pull about 30,000 permits.

Still, an improving housing market benefits the entire economy, and not just those directly involved in the industry, he emphasized.

“I think that a strong case can be made is that the residential construction economy is one of the biggest economic engines of the economy,” Whiton said.

“Every new home built will provide well over $30,000 from permits and other fees to local communities. And, on average, every home that is build creates the equivalent of a little over three permanent, full-time jobs.”

In addition, the “recurring” impact of building a home has a ripple effect beyond the first-year impact.

“Every two homes built, has the impact of creating the equivalent one recurring full-time job,” Whiton said. “So if do 8,500 homes this year, that translates into 25,000 to 30,00 new jobs.”

Consumers increasingly turning to new homes, because of the unprecedented lack of inventory of resale homes on the market.

There are now fewer resale homes on the market since Metrolist began tracking statistics in 1985, even though there are more than a million more people living in the metro area today.

For homes priced in the “sweet spot” from about $225,000 to $350,000, there are five buyers for every home available, according to some Realtors.

“There is this incredible pent-up demand from consumers, now that the economy is becoming better and consumer confidence is rising,” said housing consultant S. Robert August.

“The demand can’t be met by resale homes; there is simply nothing available,” he said. “A lot of Realtors are waking up to the fact that they need to start selling new homes.”

However, both August and Whiton agree that builders, for the most part, aren’t building speculative homes that aren’t pre-sold.

“I think for the most part, builders are just trying to keep up with the orders they have right now,” Whiton said.

At the same time, consumers increasingly prefer new homes to resale homes, he said.

Courtesy of InsideRealEstateNews.com – sponsored by Universal Lending,Land Title Guarantee and 8z Real Estate.

 

 

John Marcotte

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Obama administration says housing agency needs $943 million

April 23, 2013 by

Obama administration says housing agency needs $943 million

Houses under construction are seen in Fontana in San Bernardino County, California, in this February 5, 2009 file photograph. REUTERS/Mario Anzuoni/Files

By Margaret Chadbourn

The cash-strapped Federal Housing Administration will likely require a $943 million taxpayer bailout to cover expected losses on loans it insured as the U.S. housing bubble was deflating, the Obama administration said on Wednesday.

It would be the first bailout of the government’s mortgage insurer in its nearly 80-year history.

The White House estimated the FHA has about $30 billion on hand, but said its cash reserves would likely be swamped by souring loans.

FHA Commissioner Carol Galante said the agency still might be able to avoid taking aid from the U.S. Treasury, despite the financial hole projected in President Barack Obama’s 2014 budget proposal. It has until September 30 to decide whether it needs a cash infusion.

“FHA, while still under stress from legacy loans, has made significant progress and is on a sound fiscal path forward,” she told reporters on a conference call.

In November, an independent audit found that the FHA faced a projected deficit of $16.3 billion. Since then, the agency has a taken a number of steps to shore up its finances, including raising the premiums borrowers pay. Galante said the policy changes could bring in about $18 billion this year.

The FHA is required by Congress to keep enough cash on hand to cover all expected future losses and must take a taxpayer subsidy if its projected revenue falls short.

“Since 2009, administration officials have repeatedly assured Congress and the American people that FHA was healthy and on a sustainable financial footing,” Republican Representative Jeb Hensarling, chairman of the House Financial Services Committee, said in a statement. “The facts, however, as even the president’s own budget now confirms, prove otherwise.”

The FHA is a major source of funding for first-time home buyers and people with modest incomes. It currently backs $1.1 trillion in loans.

Last year, the White House said the FHA would need about $700 million from the Treasury to remain solvent, but legal settlements with the nation’s largest banks allowed the agency to avoid an infusion of taxpayer aid.

If the FHA does end up needing to draw on taxpayer funds this year, the amount of aid “could be a little higher, it could be a little lower” than the almost $1 billion from taxpayers the White House has projected, Galante said.

Courtesy of Reuters.com

 

John Marcotte

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Snapshot of state’s housing market shows strength

April 22, 2013 by

Snapshot of state’s housing market shows strength

Buyers in Colorado purchased 18,343 single-family detached homes, condominium and townhomes in the state in the first quarter, a 16 percent increase from sales in the first quarter of 2012, according to a report released today by the Colorado Association of Realtors.

The Quarterly Market Statistical Reports also showed that new listings dropped slightly more than seven percent statewide, primarily due to drops in the Denver metro region and the mountain region.

Meanwhile, the median sales price rose nearly 15 percent to $225,000 compared to the first quarter 2012. Days on the market continued downward, dropping 22 percent to 90 days on average.

The statewide number of active listings for the first quarter was at 30,114, representing a 4.1-month inventory supply.

The Quarterly Market Statistical Reports are prepared by 10K Research and Marketing, a Minneapolis-based real estate technology company, and are based on data provided by Multiple Listing Services in Colorado. The reports represent approximately 90 percent of all MLS-listed residential real estate transactions in the state. The metrics do not include “For Sale by Owner” transactions or all new construction.

Sales of lender-mediated properties (properties owned by banks and other mortgage lenders) declined in all areas of the state, ranging from a drop of three percent in the Southeast to 44 percent in the Northwest area. Overall, such sales represented about 22 percent of all transactions in the first quarter 2013. The median sales price for lender-mediated properties increased 10 percent statewide compare to the same period in 2012.

The CAR Housing Affordability Index, a new statistical measure for Colorado’s housing market, dropped about seven percent to 163 for the state as a whole, declining in each area of the state except the Northwest. An index of 120 means the median household income in that area was 120 percent of what is necessary to qualify for the median-priced home under prevailing interest rates.

A higher number usually is interpreted as greater housing affordability. Higher values generally benefit buyers whereas lower values help sellers.

 

Metro Denver Region (Denver, Jefferson, Adams, Arapahoe, Broomfield, Douglas counties.)

Sales in this region rose 18 percent while median sales price jumped more than 16 percent to $240,000. Prices rose consistently throughout 2012, a trend that continued into the first quarter of this year. One of the consequences of improved prices is that the Affordability Index for Metro Denver has dropped steadily during 2012 and into the first quarter 2013.

Days on the market showed a 29 percent year-over-year drop, the largest drop of any region in the state.

In addition, this region had fewer han 9,100 homes available at the end of the quarter, representing a 2.2-month supply and down about 2000 from the fourth quarter of 2012.

Northeast Region (Boulder, Larimer, Logan, Morgan, Weld counties.) –

This region of Colorado continues its trends from 2012: new listings are up five percent (one of four regions showing an increase in this category); sales increased 19 percent, the seventh consecutive quarter of increases; days on the market decreased by 20 percent (surpassed only by Metro Denver).

The CAR Affordability Index dropped three percent. The region had nearly 5,700 homes available at the end of the quarter, representing a four-month supply.

Courtesy of The Colorado Association of Realtors, the state’s largest real estate trade association representing more than 19,000 members statewide. For more information:www.ColoradoREALTORS.com.

 

John Marcotte

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