Because I have been among the top real estate agents in the nation for over 20 years, I have the opportunity to network with many various agents from around the country. Because of this network, I stay pretty closely attuned to what is going on in luxury real estate markets in the rest of the country. So far, Boulder luxury real estate is pretty healthy compared to the rest of the United States. If you would say that the luxury real estate markets in the rest of the country are dying then you would say that in Boulder Colorado our luxury real estate market just has the flu. Good homes in good locations that are priced well are still selling in this real estate market. They have to be in good condition and buyers are pickier but we are still selling houses in this real estate market. In fact, in 2008 The Bernardi Real Estate Group sold 168 properties.
Around the country, real estate depreciation has taken a toll on many luxury real estate markets. Miami is seeing depreciation at about 1-2% a month, Las Vegas is depreciating up to 3% a month, Southern California is depreciating 1-2% a month and in Detroit some houses are selling for $8000 that were formerly sold for $100,000 because there are so many foreclosures in that real estate market.
So, once again, if you are buying or selling real estate in Boulder County then we are still in a relatively healthy real estate market compared to the rest of the United States.