MICROMARKET REPORT Boulder 2018
BOULDER COUNTY NEIGHBORHOODS 3 15 1. Mountain & Canyon Communities 2. Foothills Communities 3. Lyons 4. North Boulder 2 10 5. Downtown 6. University Hill & Chautauqua 4 14 7. Central Boulder & Historic District 8. South Boulder 9. East Boulder & Gunbarrel 10. Eastern Boulder County Plains 9 11. Superior 1 5 7 12. Louisville 13. Lafayette 14. Erie 6 15. Longmont 8 13 11 12 Pictured on cover: 7321 Flagstaff Road, Boulder coloradomicroreports.com
BOULDER market update Boulder County real estate continues to be one of the best performing investments, in addition to providing one of the most attractive lifestyles in the country. Strong employment, and net migration has created a market where demand seems to constantly outpace supply, resulting in a fastmoving and competitive seller s market in most areas. Double digit appreciation rates were the norm in 2015 and 2016, but in 2017, there were some signs that the rise was slowing. County-wide, there were 4,700 sold listings (all properties) which was up 9.2% from last year. Total dollar volume sold was up 10.2%, and stood at $2,831,136,763 at year s end. The average price was up only 3.9%, to $602,498, and several micro markets saw a decrease in average sold price as well as highest price sold. These are imperfect indicators of appreciation because of the small sample size, but other indicators lend credence to the theory that the rapid gains of the past two years have started to wane, as evidenced in Boulder s average list price to sales price ratio, which is down to 98.6% The Boulder Area MMR indicates that certain micro markets have performed better that others. Interestingly, both downtown Boulder and North Boulder are down in average price and highest price sold. These markets have led the pack in the past. Now the markets with the greatest gains in average price and overall sales volume are Louisville, Lafayette, Longmont and the communities of eastern Boulder County. All hovered around increases of about 10% in average sales price. The Foothills Communities saw a decrease in average sales price of 11.3%, and the highest price BOULDER COUNTY sale dropped to less than half of the highest sale of 2016. Similarly, the Mountain and Canyon Communities saw decreases in highest sales price, and fewer sales. This dual market scenario shows that there are distinct New Listings 5,594 6,149 9.9% preferences in the marketplace that are driven by the convenience and Sold Listings (All Properties) 4,304 4,700 9.2% amenities offered by the more urban and suburban properties of eastern Sold Single Family 3,175 3,390 6.8% Boulder County, rather than the views, privacy and space of the more rural and dispersed mountain communities of western Boulder County. Sold Condo 1,255 1,310 4.4% Overall, the Boulder real estate market remains one of the most desirable places to live in the country. The Boulder metropolitan statistical area ranked 57th of 253 markets by the Federal Housing Finance Authority in their most recent quarterly report, with an 8.76% appreciation rate for the last twelve months, and 58.29% for the last five years. Average Days on Market 63 59-6.3% Average Price $579,786 $602,498 3.9% % Sold Price to Original List 99.9% 98.6% -1.3% Total Dollar Volume Sold $2,568,451,935 $2,831,136,763 10.2% All Properties livsothebysrealty.com Based on Information from IRES, LLC and REColorado. This representation is based in whole or in part on data supplied by IRES, LLC and REColorado. IRES, LLC and REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by IRES, LLC and REColorado may not reflect all real estate activity in the market. MICROMARKET REPORT Boulder 2018 COLORADOMICROREPORTS.COM
CITY OF BOULDER New Listings 2,100 2,319 10.4% Sold Listings (All Properties) 1,561 1,644 5.3% Sold Single Family 911 978 7.4% Sold Condo 650 666 2.5% Average Days on Market 62 63 1.6% Average Price $790,702 $798,027 0.9% % Sold Price to List Price 99.5% 97.7% -1.8% CENTRAL & HISTORIC BOULDER Average Price $1,387,176 $1,414,570 2.0% Average Days on Market 68 68 0.0% Highest Price $7,755,285 $6,700,000-13.6% Properties Sold 135 167 23.7% Historic Boulder is famed for its pedestrian-friendly mall, lined with the city s acclaimed restaurants, bookstores, boutiques, sidewalk cafes, and plaques that highlight the area s history. % Sold Price to List Price 98.7% 98.0% -0.7% Mapleton Hill, Whittier, Newlands, Green Meadows, Sunset Hill, Panorama Heights DOWNTOWN BOULDER Average Price $626,369 $567,590-9.4% Average Days on Market 58 51-12.1% Highest Price $2,875,000 $2,187,500-23.9% Properties Sold 159 132-17.0% % Sold Price to List Price 99.3% 99.0% -0.3% coloradomicroreports.com
33.3% The number of properties sold in University Hill & Chautauqua increased by 33.3% January through December 2017 compared to that of 2016. UNIVERSITY HILL & CHAUTAUQUA Average Price $1,078,928 $1,131,694 4.9% Average Days on Market 61 74 21.3% Highest Price $3,400,000 $4,125,000 21.3% Properties Sold 72 96 33.3% % Sold Price to List Price 97.9% 97.0% -0.9% Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park SOUTH BOULDER Average Price $684,172 $694,676 1.5% Average Days on Market 49 51 4.1% Highest Price $3,100,000 $4,100,000 32.3% Properties Sold 278 292 5.0% % Sold Price to List Price 100.8% 99.0% -1.8% Devil s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows 13.7% The average price for East Boulder and Gunbarrel increased by 13.7% January through December 2017 compared to that of 2016. EAST BOULDER & GUNBARREL Average Price $566,948 $644,501 13.7% Average Days on Market 57 58 1.8% Highest Price $2,670,000 $2,782,505 4.2% Properties Sold 564 633 12.2% % Sold Price to List Price 99.6% 98.2% -1.4% Wonderland Hill,Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay s Orchard, Moores livsothebysrealty.com MICROMARKET REPORT Boulder 2018 COLORADOMICROREPORTS.COM
NORTH BOULDER Average Price $895,448 $854,489-4.6% Average Days on Market 74 66-10.8% Highest Price $5,900,000 $3,500,000-40.7% Northern Boulder boasts more than 220+ artists and creative industries along its popular Broadway Street. Properties Sold 320 282-11.9% % Sold Price to List Price 99.2% 99.0% -0.2% LOUISVILLE Average Price $560,074 $613,197 9.5% Average Days on Market 53 59 11.3% Highest Price $1,412,500 $1,775,000 25.7% Properties Sold 274 305 11.3% 11.3% The number of properties sold in Louisville increased by 11.3% January through December 2017 compared to that of 2016. % Sold Price to List Price 100.5% 100.0% -0.5% SUPERIOR Average Price $553,885 $571,642 3.2% Average Days on Market 47 45-4.3% Highest Price $1,107,287 $1,090,000-1.6% Properties Sold 192 165-14.1% % Sold Price to List Price 104.1% 101.0% -3.0% coloradomicroreports.com
LAFAYETTE Average Price $490,179 $524,450 7.0% Average Days on Market 72 54-25.0% Highest Price $1,600,000 $1,520,000-5.0% Properties Sold 417 466 11.8% % Sold Price to List Price 101.1% 99.6% -1.5% 5.8% January through December 2017, the average price in Erie and Southwest Weld County increased by 5.8% compared to that 2016. ERIE/SOUTHWEST WELD COUNTY Average Price $496,814 $525,638 5.8% Average Days on Market 58 51-12.1% Highest Price $1,250,000 $1,479,000 18.3% Properties Sold 202 225 11.4% % Sold Price to List Price 99.0% 99.0% 0.0% Frederick, Firestone, Dacono LONGMONT Average Price $397,624 $436,996 9.9% Average Days on Market 58 55-5.2% Highest Price $1,285,000 $1,287,402 0.2% Properties Sold 1,632 1,696 3.9% % Sold Price to List Price 100.3% 99.4% -0.9% livsothebysrealty.com MICROMARKET REPORT Boulder 2018 COLORADOMICROREPORTS.COM
LYONS Average Price $526,135 $598,893 13.8% Average Days on Market 76 74-2.6% Highest Price $791,000 $925,000 16.9% Properties Sold 42 39-7.1% Situated at the intersection of State Highway 7 and U.S. Highway 36, Lyons is often referred to as The Double Gateway to the Rockies. % Sold Price to List Price 99.0% 99.0% 0.0% BOULDER COUNTY PLAINS Average Price $736,381 $823,684 11.9% Average Days on Market 73 75 2.7% Highest Price $6,250,000 $5,950,000-4.8% Properties Sold 506 481-4.9% % Sold Price to List Price 98.3% 95.7% -2.7% Niwot, Hygiene, Sommerset Estates, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills 11.9% The average price in the Eastern Boulder County Plains increased by 11.9% in January through December 2017 compared to that of 2016. FOOTHILLS COMMUNITIES Average Price $966,628 $857,342-11.3% Average Days on Market 103 98-4.9% Highest Price $5,400,000 $2,360,000-56.3% Properties Sold 133 121-9.0% % Sold Price to List Price 96.2% 97.0% 0.8% Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs coloradomicroreports.com
3.7% January through December 2017, the average price in the Mountain and Canyon Communities increased by 3.7% compared to that of 2016. MOUNTAIN & CANYON COMMUNITIES Average Price $415,177 $430,445 3.7% Average Days on Market 103 78-24.3% Highest Price $3,000,000 $1,162,500-61.3% Properties Sold 332 227-31.6% % Sold Price to List Price 96.5% 98.0% 1.5% Nederland, Allenspark, Coal Creek Canyon, Golden Gate Canyon, Gilpin, Jefferson County NUMBER OF DAYS OF SUNSHINE: 300 BOULDER COUNTY PARKS: 60 ACRES OF PRESERVED OPEN SPACE: 45,000 livsothebysrealty.com MICROMARKET REPORT Boulder 2018 COLORADOMICROREPORTS.COM
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The life you love. livsothebysrealty.com coloradomicroreports.com Based on Information from IRES, LLC and REColorado. This representation is based in whole or in part on data supplied by IRES, LLC and REColorado. IRES, LLC and REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by IRES, LLC and REColorado may not reflect all real estate activity in the market.