The Boulder, CO metro area housing market in February 2025 presents a complex landscape, characterized by a mix of declining sales prices and increasing inventory levels. The Median Sales Price currently stands at $685,000, reflecting a year-over-year decrease of 2.6%. This decline in sales price contrasts with the Median List Price, which remains unchanged from the previous year at $800,000.

Despite the stable list prices, the market is experiencing a notable shift in Price Per Square Foot metrics. The median Price Per Square Foot has risen by 3.0% year-over-year to $351.21, indicating a potential increase in property value on a per-square-foot basis. Conversely, the Median List Price per square foot has decreased by 3.0%, now at $380.66, suggesting sellers may be adjusting their expectations to align with market conditions.

Sales activity has slowed significantly, with only 234 Homes Sold, marking a substantial 26.2% decline from the previous year. Pending Sales have also decreased slightly by 1.0%, totaling 380. This reduction in sales activity is juxtaposed with an increase in New Listings, which have risen by 2.6% to 474, and a significant 26.1% increase in inventory, now at 1,098 homes. The Months of Supply have surged by 200.0% to 4.7 months, indicating a shift towards a more balanced market, or potentially even a buyer's market.

The Median Days on Market have increased by 36.0% to 74 days, suggesting that homes are taking longer to sell. The average sale to list ratio has slightly decreased by 0.3% to 98.3%, while the percentage of Homes Sold above list price has dropped by 5.3% to 17.1%. These figures indicate that buyers are gaining more negotiating power, and sellers may need to adjust their pricing strategies accordingly.

Price Drops have become more common, with 24.1% of listings experiencing reductions, up by 2.9% year-over-year. Additionally, the percentage of homes going off the market within two weeks has decreased by 3.5% to 37.6%, further highlighting the cooling pace of the market.

Overall, the Boulder housing market in February 2025 is characterized by declining sales prices, increased inventory, and longer selling times. While the market remains competitive, these trends suggest a shift towards more favorable conditions for buyers, as sellers adjust to the evolving landscape.