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Reverse Mortgage Blog

Halloween- Monday Market Update

October 31, 2022

Happy Halloween!!  This week the MEDIAN LIST PRICE for Boulder, CO is $1,900,000 with the market action index hovering around 38. This is less than last month's market action index of 39. Inventory has held steady at 195 (which is down from 200 last week).  Inventory of condos has also decreased slightly to 67 units

I have been saying this for the last 5 months, but the market has been cooling and prices have plateaued. I fully expect values to remain strong over the long run however and I am not worried about a large decline in values in our local market

The average days on market has climbed again to 35 days for homes listed at $925K and below and 42 days on market for homes listed at $1,425,000 and below.  With homes listed at $2.5M and below, the average days on market is now at 63 days on average.

As far as rates go, we have continued to see the 1-year treasury index to hold steady around 4.6% while to 10-year treasury index has actually dropped to just over 4.03%.  This is down from the high of around 4.24% last week.  Overall, rates continue to remain volatile and seem to have dramatic movement every time a new economic report comes out and each time the Fed comments on their plan to raise rates. Therefore, I highly recommend if you find a home you want to buy, make a strong offer and lock in your rate as soon as you can.

Listen to Gabe's Market Update Here  

Gabe Bodner profile picture
Gabe Bodner
This blog is intended to educate our clients and referral partners in addition to clearing up any misconceptions surrounding reverse mortgages. I aim to provide education on what reverse mortgages are and how they work so more people are aware that they are an incredible retirement planning tool. Reverse Mortgages are a great way to safely access some of the equity in your home to improve cash flow and to protect and preserve your other retirement assets.
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This blog is intended to educate our clients and referral partners in addition to clearing up any misconceptions surrounding reverse mortgages. I aim to provide education on what reverse mortgages are...
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