March Madness - Real Estate Update

March Madness - Real Estate Update

March is the time for warmer weather and the anticipation of Spring and the term March Madness comes into play with both the NCAA basketball tournament and the real estate market and beyond. With the Fed announcing an over quarter point hike ahead, it seems that no one quite knows where the economy and the real estate markets are heading. From what we have seen lately, there is one thing we do know...this year trends to be another crazy year for real estate in Boulder.

In the past month we have seen several multiple offer situations on newly listed homes. These homes that are priced fairly and listed with a solid marketing plan go quickly. In fact, a condo we just closed on in Louisville had 9 offers along with another one of our own listings in North Boulder that went under contract in a weekend with a backup offer. Please see our featured properties below. 

If you are in the market to sell, please reach out. Spring is normally a good time to list your home and now is more important than ever to have a hard-working, seasoned real estate brokerage properly price, list, market, and ultimately negotiate the best offer for your home.

For those in the market to buy, we have started to see more listings pop up and expect more listings to continue to hit the market throughout the Spring. Right now is a great time to get a great home, but as we said, the desirable homes move quickly. However, one thing that we can assure you is that when you do find the right home, we have a proven track record of knowing how to write a solid offer to beat the competition. 
Boulder County Metrics:
Taking a look at the statistics for January, you can see that Months Supply of Inventory is the biggest change. This time last year was the height of the market frenzy where there was only 0.5. For January of 2023, it is now 200% greater at 1.5 months supply which is the highest it's been since the pandemic craziness. Even though it is that high, it still does not signal a Buyer's market. At 3 months this figure indicates that we have a balanced market and anything over 3 is considered a Buyer's market. Thus, with that low of supply, we most-likely will still see a competitive market and increases in prices this summer and through the year, despite what interest rates do. 

Days on Market is another big increase of 105%. During the wild ride in January of 2022, a home only sat on the market for just over a month. Now you can see that homes are taking longer to sell at 80 days! Inventory is up quite a bit from 166 homes in Boulder to 359 or 116% increase. Looking at the numbers and having seen some of the bidding wars and competitive situations we have been in lately, we are guessing what's sitting on the market are homes that were overpriced and less-desirable.
Colorado Association of Realtor's Market Summary - Boulder
Colorado Association of Realtor's Market Summary - Denver Metro

Under Contract: 4168 Saint Lucia St, Boulder 80301

Property Description:
Beautifully updated 2-story in Four Mile Creek w/mountain views. Open floor plan w/amazing wood floors & high ceilings. Living room has walls of windows letting the light pour in. Cozy family room features a gas fireplace & flows into the kitchen making it perfect for entertaining. Spacious kitchen w/granite counters, island, SS appliances, gas stove. Primary suite w/vaulted ceilings & luxury 5-piece bathroom & relaxing soaking tub. Laundry w/build-in counters, cabinets & sink. Walkout basement w/spacious rec room is set up as in-law area or home office. Tons of storage in basement & 3-car garage. Large deck in the backyard. Award winning schools. Biking/walking trail system connects to local parks & open space

Under Contract: 100 Dercum Square, 8356 Keystone, CO 80435

Property Description:
Walk to the slopes from this nicely updated 1Bd/1Ba in Buffalo Lodge. Enjoy granite counters, ss appliances, tile flooring, newer carpet and more. Easily sleeps 4. Amenity rich building including pool, hot tubs, game room, ski lockers, heated garage parking and much more. Easy access to all the restaurants and shops in River Run Village. Excellent income history. Great weekend getaway or rental property, or both!

SOLD!: 7822 Greenbriar Cir, Boulder, 80301

Congratulations to our Seller's for getting their home under contract in one weekend (with a BACKUP)! We were able to price this beautiful property in north Boulder perfectly and hit the market with a rock solid marketing plan. 

Property Description:
Beautifully updated home in the desirable Heatherwood neighborhood. Situated on a large corner lot with lots of green grass, a new driveway and garage floor, and new front door; sprinkler system and a fully fenced-in yard. The home has a newly remodeled dream kitchen with open concept dining room, nook, pull-out drawers and high-end appliances. Gorgeous new hardwood floors. Get cozy by the wood fireplace in a light filled living room. Enjoy front range view from the master bedroom/bath, bath has heated floor tiles. 3br/2ba upstairs. The basement is partially remodeled with a large laundry room, office/workout room and storage area. Additional features include: whole house humidifier and Nest programmable thermostat. Choose Boulder HS or Fairview HS. Walk to elementary school, bus to Middle school. Open space right out the front door. No HOA

SOLD: 1611 Garfield Ave 13, Louisville CO

We were able to beat out 9 other offers to win this wonderful investment property for our Buyer's! This condo is a gem and one of the lowest PSF's we have seen in a LONG time. Congrats to our Buyer's who are now in full renovation mode making this condo into an amazing investment property that will benefit them for years to come! 

Property Description:
Incredibly affordable condo ready for a full make-over being sold As-is in the heart of Louisville. Bring your dreams and make this home your own or a potential fix and flip. Wonderful floor plan with two bedrooms, a large, walk-in storage room/closet for additional storage and a balcony overlooking a green space. A separate, designated storage space is available i

SOLD!: 5051 Vermillion Lane, Castle Rock, CO 80108

Congratulations to our Missouri Buyers for closing on this amazing home in "the Village" in Castle Rock. We were able to go under contract in January while the market was a little sluggish for 7% under. It was a wonderful transaction and after the post closing occupancy agreement, they will be moving here at the end of the month. 

Property Description:

This beautiful 4 bedroom | 3 bathroom home located in a gorgeous enclave in the coveted and private Village at Castle Pines community immediately draws you in with tasteful features and graceful design. Resting on a private lot nestled in a stunning outdoor oasis, this open concept home is designed with indoor | outdoor living in mind and offers a path to a genuine, stress-free Colorado lifestyle. Walkable to restaurants, shops, tennis, pickle ball courts, pool and fitness center and situated on a lot that makes you feel like you're on a mountain vacation, this well maintained, spotless home offers an immediate opportunity to inhabit a gorgeous property today!

SOLD!: Prairie Village Villas, LONGMONT, CO

Congrats to our proud grandparents who closed on this great property in Longmont. They were able to switch units in order to close sooner (one with a better location and similar upgrades)! Call us today if you would like advice on purchasing a new build!

We are proud of our boutique brokerage and the ability to win contracts and provide exceptional service in this unbelievably competitive market. With almost all of Boulder's brokerages being national and part of a big brand, we are one of the few small, family-owned, local real estate brokerages left. We promise to provide you the highest level of service and complete knowledge of the local market place.

The only way we are able to continue to grow is through our client and friend referrals. Thank you for trusting us, and please keep the referrals coming. We appreciate it more than you know! We want to be the best agents we can be for you and will continually focus on creating value and a superior experience for our clients. 

Please contact us any time and, as always, thank you for choosing us as your trusted real estate experts!
Sandrock Real Estate
Real Estate Professionals
Office: 720.704.1769
Mobile: 303.249.5599
[email protected]
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This email is for informative purpose and not the intent to solicit current offerings of other real estate agents. I promise to provide honest, professional and courteous real estate services. The information provided in this email represents data from the MLS (multiple listing service) known as IRES and REColorado and the Colorado Association of Realtors.


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