Boulder Real Estate Market Forecast 2022

Published:
June 29, 2022
Last updated:
June 29, 2022
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The Boulder real estate market forecast for 2022 holds out a sliver of hope for homebuyers wishing to secure a property before interest rates rise any higher. Will inventory improve enough to give home buyers a fighting chance?

Buying a home in Colorado is a dream for many would-be property owners. The city is a beloved retreat for a massive number of vacation homeowners, and the luxury home market has exploded in recent years.

Of late, it’s been difficult to compete as a buyer in the Boulder area. Does the Boulder real estate market forecast for 2022 have room for those without the resources to offer a hundred thousand dollars over asking, or make a cash purchase?

The Top Boulder Real Estate Market Trends

Boulder, Colorado is a beautiful city that draws people from all around the country to buy homes, either as year round residents or vacationers enjoying the prime skiing terrain and upscale vibe.

Prices in Boulder keep climbing. In March 2022, Boulder home prices had increased 31.9% over the same month in 2021. Boulder homes are selling for just into the seven-figure range, with a median price of $1.1 million.

On average, homes in Boulder go pending after just 27 days and sell after only 30 days on the market for about 6% above list price. That’s seven full days more quickly than in March of 2021. Total homes sold is down to   132 homes from 188 last year, but this can be chalked up to low inventory.

Most homes put on the market are receiving multiple offers, and many buyers are waiving contingencies. “Hot”  homes are even more in demand, going pending after only 8 days of being listed and selling for up to a whopping 14% above list price.

Boulder Mortgage Rates

Last 12 Months For The Boulder Real Estate Market

The past year has certainly seen home prices boom in Boulder Colorado. Inventory is in short supply, housing is in high demand, and interest rates reached incredible lows to create a massive crunch. People aren’t just buying residences, they are seeking investment properties.

It was a true seller’s market, with buyers vying desperately for real estate in one of the most popular cities in the country. Individuals with multiple homes in the area found themselves in the prime spot to sell for well above asking simply by listing their second home and watching the ensuing bidding war.

Although interest rates are rising, the housing market is still great for both buyers and sellers. Although the barrier to entry for homeownership may feel high based on home sale prices, appreciation shows every sign of continuing to make property investment the best possible hedge against inflation.

Upcoming Boulder Real Estate Market Forecast 2022

The outlook for the Boulder real estate market remains strong in Q2 2022. A fire in December wiped out nearly a thousand homes in the area, making the housing situation even more critical. However, new construction is finally starting to make headway against the chronically short inventory that put a stranglehold on the local market.

The Feds have announced plans for several interest rate hikes through the rest of 2022, meaning some of the pressure may start to ease. Sellers who were in forbearance may finally decide it’s time to let go of their real estate and will put more homes on the market. This can help meet demand and make it possible for first-time homebuyers to make their move.

Should You Buy in the Boulder Real Estate Market in 2022?

Conventional loan limits for Boulder in 2022 are set at $747,500, which can mean many homebuyers seek out jumbo home loans to help make up the difference in the average price of a home.

That said, if you are liquid enough to manage it, this could be the perfect time to buy a home in Boulder. Appreciation is still happening, and it’s happening faster than interest rates are going up.

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Why Choose a Sammamish Mortgage?

At Sammamish Mortgage, we can help you get fully preapproved for a mortgage, including underwriting if you’re competing for a home in a tough market like Boulder. Our Diamond Homebuyer Program is a free supplemental service offered to our borrowers to help you get your offer accepted without paying cash or waiving contingencies.

Sammamish Mortgage has been in business since 1992 and has assisted many homebuyers in the Pacific Northwest. If you are looking for mortgage financing in Washington State, we can help you get preapproved. Sammamish Mortgage offers mortgage programs in Colorado, Idaho, Oregon, and Washington.

Contact a loan officer if you have any mortgage-related questions or concerns. If you are ready to move forward, you can view rates, obtain a customized instant rate quote, or apply instantly directly from our website.

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