Boulder Creek, CA 95007 housing market

What this means

• Prices. Home values are up 2.1% over the past year (U.S.: +1.2%), but still 10% below their 2022-23 peak.
• Supply. There are 250% more homes for sale than the 2017-19 norm and falling (−22% vs. a year ago), so buyers have more to choose from than before the pandemic.
• Negotiating. Buyer leverage is high (93/100; U.S.: 54): homes sell for about 3.4% below their final list price (as of Jan 2024); 57% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 61% of the median household income (U.S.: 35%); it takes about $185k a year to keep the payment at 30% of gross pay. That includes about $2,270 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $674 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding. Flood isn't covered by standard homeowners insurance.
• Outlook. Leaning up: likely −4% to +13% over the next 12 months (80% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −3.8% to +12.5% (80% range; middle estimate +5.5%), chance of a rise 80%, of a 5%+ drop 7%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

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