Is Broomfield, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Broomfield is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Broomfield has remained a Seller's Market.

Key Takeaway

Broomfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Broomfield, CO

How much do homes in Broomfield, CO cost?

Median Sold Price

$625,091

$309/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,841(+2.1%)

Key Takeaway

Homes in Broomfield have sold for 2.1% more than they did a year ago.

Summary: The median home sold price in Broomfield was $625,091 in May 2024, up 2.1% from last year, and the median price per square foot was $309.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $312.5K$345K
+10.4%
2 $525.7K$554.2K
+5.4%
3 $567.3K$575K
+1.4%
4 $660K$660K
0.0%
5+ $885K$930K
+5.1%

Summary: Broomfield housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 1.4%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 5.1%.

Median Sold Price Compared To Nearby Cities

Louisville
+4.8%
Lafayette
+3.0%
Lafayette-Louisville
+2.2%
Broomfield
+2.1%
Westminster
+1.2%

Housing Supply in Broomfield, CO

How many homes are available in Broomfield, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
398481+20.9%

Summary: The Broomfield real estate market had 481 homes for sale in May 2024, a 20.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 44
0.0%
2 75104
+38.7%
3 125140
+12.0%
4 127153
+20.5%
5+ 6780
+19.4%

Summary: The Broomfield housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 38.7%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 20.5%, and 5+ bedroom homes increased by 19.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
107139+29.9%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

37 Homes Were Sold
At Asking

50 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Broomfield, you may be able to get a good deal. 37.4% of homes here sold below asking price last month.

Summary: A total of 139 homes were sold or pending in Broomfield in May 2024, up by 29.9% month-over-month. Of the 139 sold homes, 37% were sold under asking, 27% were sold at asking, and 36% were sold over asking.

Days on Market for Broomfield, CO

How long does it take to sell a home in Broomfield, CO?

Average Sale Time

May 2023May 2024CHANGE
22 Days23 Days+6.7%

Summary: Homes in Broomfield had an average of 23 days on market in May 2024, up by 6.7% compared to last year.

Breakdown of Home Sale Times

101 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Broomfield are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 139 homes were sold in Broomfield; 73% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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