Real estate sales in Boulder County were down 30% in April 2020 compared to the previous year, and year-to-date sales are down 2.2%. Inventory has remained steady but new listings have dropped significantly due to stay-at-home orders. By the end of April, 37% of homes on the market were already under contract. Price reductions have increased as sellers accept fewer showings. Unemployment has spiked during the pandemic and real estate activity is decreasing but starting to recover with the resumption of showings in early May, though the recovery will not be straightforward.

1. Boulder County Real Estate Statistics
April 2020

2. Copyright 2020 Neil Kearney, Kearney Realty Co.
April sales were down by 30%
over last year. After a strong
first quarter, YTD sales are now
down by 2.2%.

3. Copyright 2020 Neil Kearney, Kearney Realty Co.
Inventory has held steady
through much of the year.
Just as listings usually increase
we were given the “stay-at-
home” order.

4. Copyright 2020 Neil Kearney, Kearney Realty Co.
This graph shows the number of active homes on the market that are
not already spoken for by a buyer at the time of reporting. At the end of
April 37% of the properties in the MLS were already under contract. Still
a decent number for the current situation, but lower than we have had
in recent years.

5. Copyright 2020 Neil Kearney, Kearney Realty Co.
Price reductions have really dropped in the
last few weeks. Most sellers are resigned to
the fact that there are not going to be many
showings in the short term.

6. Copyright 2020 Neil Kearney, Kearney Realty Co.
The red line shows new listings to the
market in Boulder County so far in 2020. Just
as the numbers of new listings should be
increasing, stay-at-home orders have caused
a big drop in the past few weeks.

7. Copyright 2020 Neil Kearney, Kearney Realty Co.
This chart shows the number of properties going under
contract each week throughout the year. A large drop during
March and April has been followed by a stronger beginning of
May.

8. Copyright 2020 Neil Kearney, Kearney Realty Co.
This graph shows the number of closings on a weekly
basis. Newly accepted contracts take 30 to 60 days to
make it to the closing table. We are starting to see the
results in the big forced slowdown.

9. Copyright 2020 Neil Kearney, Kearney Realty Co.
This graph shows the number of showings on a daily basis in
the greater Boulder market since March 10th. After very few
showings in April we have seen more showings this past week
as showing restrictions have been lifted. Lower price ranges
are getting more showings.

10. We are now two months into the beginning of the financial impacts of
the 2020 Pandemic. Unemployment has spiked at levels not seen in
more than half a century and some states (including Colorado) are
finding ways to safely get back to work. Real estate sales were down
30% in April and we will see large decreases (compared to past
years) in the coming months. Showings were again allowed starting in
early May and we are seeing some activity return to the market. But,
like the economy in general, it will not be a straight- line recovery. I’m
carefully watching showing activity and contracts written to see if
buyers are coming back to the market. I’m seeing more activity in the
lower price ranges and not as much in the luxury range.
My view of the Market
Copyright 2020 Neil Kearney, Kearney Realty Co.

11. Copyright 2019 Neil Kearney, Kearney Realty Co.