at Keller Williams Integrity
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Boulder, CO
This week the median list price for Boulder, CO is $1,875,000 with the market action index hovering around 64. This is less than last month's market action index of 68. Inventory has increased to 163.
Real-Time Market Profile Median List Price
$1,875,000
Market Action Index
Median Price of New Listings
$1,375,000
This answers “How’s the Market?” by comparing rate of sales versus
Per Square Foot
$620
Average Days on Market
43
Median Days on Market
21
Price Decreased
29%
Price Increased
0%
Relisted
12%
Inventory
163
Median Rent
$3,295
Market Action
64
inventory. 50
40
Buyer's Market
60
Seller's Market
70
100
10 0
on
64
90
M
ay Tod th
Las t
80
20
30
Strong Seller's Market The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Strong Seller's Market
Market Segments Each segment below represents approximately 25% of the market ordered by price. Median Price
Sq. Ft.
Lot Size
Beds
Bath
Age
New
Absorbed
DOM
$4,347,500
4,879
0.25 - 0.5 acre
4
4
22
4
4
28
$2,495,000
3,602
0.25 - 0.5 acre
4
3.5
45
11
3
21
$1,450,000
2,786
0.25 - 0.5 acre
4
3
52
13
10
14
$950,000
2,194
8,000 - 10,000 sqft
3
2
46
15
12
7
Thu Jun 23 2022
2 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Boulder, CO
Median List Price
The market has been on a downward trend recently and this week, while essentially flat, doesn’t break us out of that cycle. $3.0M
$2.5M
$2.0M
$1.5M
$1.0M Jun 2019
Nov 2019
Mar 2020
Jul 2020
Nov 2020
7-Day Average
Mar 2021
Jul 2021
Nov 2021
Mar 2022
90-Day Average
Segments
Price weakness is evident across the board. Quartiles 1, 3, and 4 have been in price decline in recent weeks, with Quartile 2 remaining basically flat. Look to the Market Action Index as a leading indicator of the bottom of the market. $6.0M
$5.0M
$4.0M
$3.0M
$2.0M
$1.0M
$0 Jun 2019
Nov 2019
Mar 2020
Top 90-Day
Jul 2020
Nov 2020
Upper 90-Day
Mar 2021
Lower 90-Day
Thu Jun 23 2022
Jul 2021
Nov 2021
Mar 2022
Bottom 90-Day
3 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Boulder, CO
Price Per Square Foot
The market’s downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities. $900
$800
$700
$600
$500
$400
$300 Jun 2019
Nov 2019
Mar 2020
Jul 2020
Nov 2020
7-Day Average
Mar 2021
Jul 2021
Nov 2021
Mar 2022
90-Day Average
Inventory
Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply. 500
400
300
200
100
0 Jun 2019
Nov 2019
Mar 2020
Jul 2020
Nov 2020
7-Day Average
Mar 2021
Jul 2021
Nov 2021
Mar 2022
90-Day Average
Thu Jun 23 2022
4 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Boulder, CO
Market Action Index
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again. 125
100
75
50
25
0 Jun 2019
Nov 2019
Mar 2020
Jul 2020
Nov 2020
7-Day Average
Mar 2021
Jul 2021
Nov 2021
Mar 2022
90-Day Average
Market Action Segments
Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group. 125
100
75
50
25
0 Jun 2019
Nov 2019
Mar 2020
Top 90-Day
Jul 2020
Nov 2020
Upper 90-Day
Mar 2021
Lower 90-Day
Thu Jun 23 2022
Jul 2021
Nov 2021
Mar 2022
Bottom 90-Day
5 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Boulder, CO
Median Days on Market (DOM)
The properties have been on the market for an average of 52 days. Half of the listings have come newly on the market in the past 15 or so days. Watch the 90-day DOM trend for signals of a changing market. 200
150
100
50
0 Jun 2019
Nov 2019
Mar 2020
Jul 2020
Nov 2020
7-Day Average
Mar 2021
Jul 2021
Nov 2021
Mar 2022
90-Day Average
Segments
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. 250
200
150
100
50
0 Jun 2019
Nov 2019
Mar 2020
Top 90-Day
Jul 2020
Nov 2020
Upper 90-Day
Mar 2021
Lower 90-Day
Thu Jun 23 2022
Jul 2021
Nov 2021
Mar 2022
Bottom 90-Day
6 of 6
1240 E Ridge Ave, Boulder, CO 80303-1703, Boulder County APN: R0007885
Expired Listing
CLIP: 4656626991
MLS Beds 6
MLS Full Baths 1
Half Baths N/A
Sale Price $775,000
MLS Sq Ft 2,748
Lot Sq Ft 6,974
Yr Built 1958
Type SFR
Sale Date 03/12/2021
OWNER INFORMATION
Owner Name
Nasser Karlston
Mailing Zip
80303
Owner Name 2
Mews Cynthia
Mailing ZIP 4
1703
Mailing Address
1240 E Ridge Ave
Mailing Carrier Route
C011
Mailing City & State
Boulder, CO
Owner Occupied
Yes
Property Zip
80303
Census Tract
126.05
Property Zip4
1703
Neighborhood Code
140-140
Property Carrier Route
C011
Township
01N
School District
Boulder Valley Re 2
Range
70
Elementary School
Creekside
Section
32
Middle School
Manhattan
Block
4
High School
Boulder
Lot
3
Subdivision
East Ridge
LOCATION INFORMATION
TAX INFORMATION
PIN
R0007885
% Improved
48%
Alternate PIN
1463322-04-003
Tax District
0010
Schedule Number
R0007885
Legal Description
LOT 3 BLK 4 EAST RIDGE
ASSESSMENT & TAX
Assessment Year
2022 - Preliminary
2021
2020
2019
Market Value - Land
$369,500
$369,500
$336,000
$336,000
Market Value - Improved
$334,500
$334,500
$314,500
$314,500
Market Value - Total
$704,000
$704,000
$650,500
$650,500
Assessed Value - Land
$25,680
$26,419
$24,024
$24,024
Assessed Value - Improved
$23,248
$23,917
$22,487
$22,487
Assessed Value - Total
$48,928
$50,336
$46,511
$46,511
YOY Assessed Change (%)
-2.8%
8.22%
0%
YOY Assessed Change ($)
-$1,408
$3,825
$0
Tax Year
Total Tax
Change ($)
Change (%)
2019
$3,374
2020 2021
$3,426
$52
1.55%
$4,333
$907
26.46%
CHARACTERISTICS
Lot Acres
0.1601
Total Rooms
11
Lot Sq Ft
6,974
Bedrooms
Tax: 5 MLS: 6
Land Use - County
1 Family Resid
Baths - Total
3
Land Use - CoreLogic
SFR
MLS Total Baths
3
Building Type
Single Family
Baths - Full
Tax: 3 MLS: 1
Style
Ranch
Stories
1
Year Built
1958
Heat Type
Hot Water
Bldg Sq Ft - Above Ground
1,482
Patio Type
Patio
Bldg Sq Ft - Basement
1,266
Garage Type
Attached Garage
Bldg Sq Ft - Finished Basement
1,266
Garage Capacity
MLS: 2
Bldg Sq Ft - Finished
2,748
Garage Sq Ft
410
Bldg Sq Ft - 1st Floor
1,482
Construction
Masonry
Basement Type
Finished
Exterior
Brick Veneer
# Buildings
1
Quality
Average
FEATURES
Property Details
Courtesy of Kyle Gephart, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 06/23/22 Page 1/3
Building Description
Building Size
Ppo
78
Ppa
136
SELL SCORE
Rating
Very High
Sell Score
917
Value As Of
2022-06-19 03:59:37
LISTING INFORMATION
MLS Listing Id
8491944
MLS Current Price
$1,250,000
MLS Days On Market
46
MLS Original List Price
$1,250,000
MLS Source
REcolorado
MLS Listing Contract Date
01/04/2022
MLS Status
Expired
MLS List Office Name
TRELORA REALTY, INC.
MLS Status Change Date
02/19/2022
MLS List Agent Full Name
01235t-Trelora Realty Team
MLS Listing #
Ir930480
MLS Source History
IRES
MLS Status
Closed
MLS Listing Price
$800,000
MLS Orig Listing Price
$800,000
MLS Listing Close Price
$775,000
MLS Listing Date
12/23/2020
MLS Close Date
03/12/2021
LAST MARKET SALE & SALES HISTORY
Sale Date
03/12/2021
Deed Type
Personal Representative's Deed
Sale Price
$775,000
Owner Name
Nasser Karlston
Price per SqFt - Finished
$282.02
Owner Name 2
Mews Cynthia
Document Number
3868781
Seller
Stirling Julia A
Sale Date
03/12/2021
Sale Price
$775,000
10/25/1994 $10,000
Nominal
Y
Buyer
Nasser Karlston
Buyer
Mews Cynthia
Stirling Julia A
Stirling Julia A
Seller
Stirling Julia A
Stirling Julia B
Document Number
3868781
1475206
697322
284050
Document Type
Personal Representative's D eed
Quit Claim Deed
Quit Claim Deed
Deed (Reg)
Title Company
Land Title Guarantee
Stirling Julia B
MORTGAGE HISTORY
Mortgage Date
03/17/2021
01/10/2020
03/14/2013
07/03/2003
11/27/1998
Mortgage Amount
$503,750
$50,000
$142,800
$147,000
$93,500
Mortgage Lender
Alpine Bk
Premier Members Cu
Colonial Nat'l Mtg
Colonial Nat'l Mtg
Fort Worth Mtg
Borrower
Nasser Karlston
Stirling Julia A
Stirling Julia A
Stirling Julia A
Stirling Julia A
Borrower
Mews Cynthia
Mortgage Type
Conventional
Conventional
Conventional
Conventional
Conventional
Mortgage Purpose
Resale
Refi
Refi
Refi
Refi
Mortgage Int Rate Type
Fixed Rate Loan
Mortgage Term
25
30
30
Mortgage Term
Years
Years
Years
Title Company
Heritage Title Co.
Lawyers Title
Mortgage Date
10/31/1994
Mortgage Amount
$67,000
Mortgage Lender
Fort Worth Mtg
Borrower
Stirling Julia A
Borrower Mortgage Type
Conventional
Mortgage Purpose
Nominal
Mortgage Int Rate Type Mortgage Term Property Details
Courtesy of Kyle Gephart, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 06/23/22 Page 2/3
Mortgage Term Title Company PROPERTY MAP
*Lot Dimensions are Estimated
Property Details
Courtesy of Kyle Gephart, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 06/23/22 Page 3/3
Map of Property Locations
1275 E Ridge Avenue, Boulder, CO Listing Id: Status: Price: 1 Subtype: Ttl SqFt: Bd/Bth: Show #:
80303 IR947351 Closed 09/20/21 $860,000 SFR 2,866 5/4 303-573-7469
3020 Pennsylvania Avenue, Boulder, CO 80303 Listing Id: IR957892 Status: Closed 04/15/22 Price: $927,000 Subtype: SFR 2 Ttl SqFt: 2,610 Bd/Bth: 6/3 Show #: 303-573-7469
Broker 1 Page 1275 E Ridge Avenue, Boulder, CO 80303 (Status: Closed, Listing ID: IR947351) County: Boulder Property Type: Residential Property Subtype: Single Family Residence Levels: One Structure Type: House Subdivision Name: East Ridge Listing Contract Date: 07/30/2021 Purchase Contract Date: 08/07/2021 Close Date (DIM): 09/20/2021 Days In MLS: 9 Association: N Multiple: Cov/Rest: N Tax Annual Amt: $4,298 Tax Legal Desc: lengthy see addendums Interior Area & SqFt 2,866 Living Area (SqFt Finished): 2,866 1,433 Below Grade Finished Area: 1,433 PSF Finished: $300 Bsmnt Ceiling Ht:
Close Price: List Price: Original List Price:
$860,000 $875,000 $875,000
Basement: Year Built:
Yes 1962
Contingency: Assoc Fee Tot Annl: Tax Year:
2020
Building Area Total (SqFt Total): Above Grade Finished Area: 1,433 Below Grade Total Area: Below Grade Unfinished Area: 0 PSF Total: PSF Above Grade: $600 Basement: Full Heating: Hot Water Cooling: Ceiling Fan(s) HVAC Description: Ceiling Fan Interior Features: Eat-in Kitchen Appliances: Dishwasher, Disposal, Dryer, Microwave, Oven, Refrigerator, Washer Flooring: Wood Exclusions: staging items, many pieces of furniture available to stay Bed & Bath Summary Bedrooms Total: 5 Bathrooms Total: 4 Baths Full: 0 Baths Three Quarter: 4 Baths Half: 0 Baths One Quarter: Parking Parking Total: 0 Garage Spaces: Offstreet Spaces: Site & Location Information Lot Size: 0.39 Acres / 17,186 SqFt Waterfront Feat: Elementary School: Creekside / Boulder Valley RE 2 Bldg/Complex Name: Middle/Junior Sch: Manhattan / High School: Fairview / Boulder Valley RE 2 Building & Water Information Direction Faces: West View: Mountain(s) Construction Materials: Brick, Wood Frame Roof: Composition Exterior Features: Water Included: Water Source: Public Sewer: Public Sewer Public Remarks LOCATION LOCATION LOCATION! Live in or rent this house in central Boulder, just blocks east of campus. Close to stores, restaurants and the 29th Street Mall. Fresh Paint, Clean Carpets and it is now ready for you! Smart Regs certification and a current long term rental license in Boulder. Past ADU license. Large lot with mature trees, multiple decks, mountain views, and off-street parking. Plent... Confidential Information Private Remarks: Current Rental License, Smart Regs Lots of extras, furniture, extra washer and dryer in shed, cabinets, can go with the property. Please see the extra documents for details. Seller was charging $1000 /bed (for 4 of them). Seller is participating in a 1031 Exchange, please put 1031 Exchange language in the offer in additional provisions. Lead Based Paint Disclosure NO GARAGE off-street parking fo Buyer Agency Comp: 2.80% Dual Variable: Submitted Prosp: No Transaction Broker Comp: 2.80%
List Agent: Deidra Laurel List Office: Compass - Boulder Email:
deidra.laurel@compass.com
Buyer Agent: Patrick Dolan Buyer Office: RE/MAX of Boulder, Inc Email:
patrickdolanteam@gmail.com
Concessions: Buyer Financing:
List Agent Phone: 720-840-2212 Mobile: 720-840-2212 Buyer Agent Phone: 303-441-5642 Mobile: Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © IRES LLC 2022.
Generated on: 06/23/2022 11:21:58 AM
Full Property View
1275 E Ridge Avenue, Boulder, CO 80303
----
$860,000 - Closed
Welcome!
Front Deck main level
Living space main level
Living space Main Level
Living space main level
Living space main level
Historical Main Level Kitchen, extra cabinets available
Dining space main level
Another view of Main Level kitchen
Bedroom #1 Main Level
Another look Bedroom #1 with bath attached Main Level
Attached 3/4 Bath to Bedroom #1 Main Level
Bedroom #2 Main Level (Wood floors under carpet)
Bedroom #2 Main Level second look.
Bedroom #3 Main Level
3020 Pennsylvania Avenue, Boulder, CO 80303 (Status: Closed, Listing ID: IR957892) Close Price: $927,000 County: Boulder List Price: $879,000 Property Type: Residential Original List Price: $879,000 Property Subtype: Single Family Residence Levels: Two Basement: Yes Structure Type: House Year Built: 1958 Subdivision Name: East Ridge Listing Contract Date: 01/23/2022 Purchase Contract Date: 02/01/2022 Contingency: Close Date (DIM): 04/15/2022 Days In MLS: 10 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: Tax Annual Amt: $4,336 Tax Year: 2020 Tax Legal Desc: LOT 13 Less W 21.33 FT & LOT 14 Less E 32 FT, BLOCK 5 Interior Area & SqFt Building Area Total (SqFt Total): 2,610 Living Area (SqFt Finished): 2,610 Above Grade Finished Area: 2,610 Below Grade Total Area: 0 Below Grade Finished Area: 0 Below Grade Unfinished Area: 0 PSF Total: PSF Finished: $355 PSF Above Grade: $355 Basement: Walk-Out Access Bsmnt Ceiling Ht: Foundation: Fireplace: Living Room Heating: Forced Air Appliances: Dishwasher, Oven Bed & Bath Summary Bedrooms Total: 6 Bathrooms Total: 3 Baths Full: 2 Baths Three Quarter: 1 Baths Half: 0 Baths One Quarter: Parking Parking Total: 2 Garage Spaces: 2 Offstreet Spaces: Site & Location Information Lot Size: 0.18 Acres / 7,828 SqFt Waterfront Feat: Elementary School: Creekside / Boulder Valley RE 2 Bldg/Complex Name: Middle/Junior Sch: Manhattan / High School: Fairview / Boulder Valley RE 2 Building & Water Information Direction Faces: North View: Mountain(s) Construction Materials: Brick Roof: Composition Exterior Features: Water Included: Water Source: Public Sewer: Public Remarks Great house in East Ridge with 6 bedrooms and amazing views. house is currently leased through August with tenants in upper level and seperate tenants on lower level. Confidential Information Private Remarks: currently under leased at $2400/month. Only lower level trenants have lease. Previous day notice for showings, Shwings between 10-4 daily. Showings begin 1/25/2022. Showings restricted to Tues and Thursday 11am to 3 pm, and Saturday 11-4. Buyer Agency Comp: 2.80% Dual Variable: Submitted Prosp: No Transaction Broker Comp: 2.80%
List Agent: Peter Maybee List Office: Colorado Landmark-Boulder Email:
petermaybee@comcast.net
Buyer Agent: Beau Burris Buyer Office: Goodacre & Company Email:
burrisrealestate@gmail.com
Concessions: Buyer Financing:
List Agent Phone: 303-818-2525 Mobile: 303-818-2525 Buyer Agent Phone: 303-880-1132 Mobile: 303-880-1132 Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © IRES LLC 2022.
Generated on: 06/23/2022 11:21:59 AM
3020 Pennsylvania Avenue, Boulder, CO 80303
----
$927,000 - Closed
Property Type is 'Residential' Mls Status is one of 'Active', 'Coming Soon', 'Pending' Mls Status is 'Closed' Status Contractual Search Date is 06/23/2022 to 06/23/2021 Property Sub Type is 'Single Family Residence' Latitude, Longitude is within 0.25 mi of 1240 E Ridge Ave, Boulder, CO 80303, USA Originating System Name is one of 'REcolorado', 'ROCC', 'SSBR', 'IRES*' 2 Properties have been discarded.
Residential Closed Properties Bds
Bths
Abv
Ttl
Fin
Close
PSF Abv
Boulder
5
4
1,433
2,866
2,866
09/20/21
$600
$300
9
875,000
$875,000 $860,000
98%
Boulder
6
3
2,610
2,610
2,610
04/15/22
$355
$355
879,000
$879,000 $927,000
105%
Averages:
2,022
2,738
2,738
$478
$328
10 10
$877,000
$877,000 $893,500
102%
Orig Price $877,000
List Price Close Price $877,000 $893,500
CP/OLP 102 %
Listing ID Address
City
IR947351 1275 E Ridge AVE IR957892 3020 Pennsylvania AVE
Count: 2
Closed Price:
Report Totals
Presented By: Kyle Gephart Generated on: 06/23/2022
Count : 2
High $927,000
SqFt Abv Averages: 2,022
SqFt Ttl 2,738
PSF Ttl
Low $860,000 Sqft Fin 2,738
PSF Abv $ 478
PSF Fin DIM Orig Price
List Price Close Price
CP/OLP
Median $893,500 PSF Ttl
All data deemed reliable but not guaranteed. Copyright REcolorado © 2022. All rights reserved. REcolorado.com
PSF Fin $328
CMA 1-Line Page 1 of 1
at Keller Williams Integrity
INTELLIGENT PRICING & TIMING Pricing a home for sale is as much art as science, but there are a few truisms that never change. ☐ ☐ ☐
Fair market value attracts buyers, overpricing never does. The market never lies, but it can change its mind.
ASKING PRICE
PERCENTAGE OF BUYERS
+15%
10%
+10%
30%
Market Value
60%
-10%
75%
-15%
90%
Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the home. Values can be impacted by a wide range of reasons but the two largest are location and condition. Generally, fair market value can be determined by comparables - other similar homes that have sold or are currently for sale in the same area. Sellers often view their homes as special which tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake. Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range, and look for the best value in that range.
ACTIVITY
at Keller Williams Integrity
1
2
3
4
5
6
TIME ON MARKET (IN WEEKS)
and exciting to buyers and to their agents. With a sign in the yard, a description in the local Multiple Listing Service, distribution across the internet, open houses, broker’s caravan, ads, and email blasts to your listing agent’s buyers, your If you don’t get many showings or offers, you’ve probably overpriced your home, and it’s not comparing well to the competition. Since you can’t change the location, you’ll have to improve the home’s condition or lower the price. Consult with your agent and ask for feedback. Perhaps you can do a little more to spruce up your home’s curb appeal, or perhaps stage the interior to better advantage. The market can always change its mind and give your home another chance, but by then you’ve lost precious time and perhaps allowed a stigma to cloud your home’s value. Intelligent pricing isn’t about getting the most for your home – it’s about getting your home sold quickly at fair market value.
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