The National Association of Realtors commended the swift action taken over the weekend. “NAR believes that the announced plan will help restore confidence in the secondary mortgage market. We appreciate the steps taken to calm the market, make mortgages more widely available and protect taxpayers. This demonstrates that the government is clearly committed to keeping the flow of capital uninterrupted, which is crucial to the housing sector and the economy. (Source: http://www.realtor.org/press_room/news_releases/2008/nar_actions_statement_on_mortgage_market)

Boulder and Erie Home Values Appreciate, Bucking the County Trend

The current news reports may have you thinking that your home is losing its value. Maybe not, according to analysis of the market data. While it’s true that the Boulder County market as a whole saw a decrease in the number single family homes sold year over year in August, the average sales price remained the same.

While the number of units sold in Boulder decreased by 27%, the average sales price in Boulder County showed no depreciation. Another interesting piece of information is that the average number of days on market increased by 1% from August 2007. The bottom line? The sales may be slowing, but the good news is that home prices have remained stable.

The bright spots for the month of August were Boulder and Erie which appreciated by 11% and 26% respectively despite the decline in the number of homes sold. The not-so-bright spot in the area would be Longmont, which had its fair share of foreclosures and short sales in the area, leading to a decline in the average sales price of homes in that area.

Despite sluggish sales in August, the Boulder County real estate market is holding up well compared to other areas of the country that are getting hit hard. This is good news for a majority of home owners in Boulder County.