Q1 2021
Micro Market Report B O U L D E R VA L L E Y
1931 Creekside
9191 Tahoe Lane
Boulder Valley MARKET UPDATE
Despite the various challenges faced during 2020, the beautiful Boulder community continued to provide opportunities for consumers to reach their financial and lifestyle goals through real estate. Nestled at the base of the Rocky Mountains, this close-knit community boasts a culture that focuses on the outdoors, local artisans and businesses, and enjoying all that Colorado has to offer. For those reasons, many homebuyers have chosen to make Boulder their primary or secondary home, stimulating the real estate market and giving people the chance to live a life they truly love. LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder County and each of the unique neighborhoods within it. The report examines key performance indicators from Q1 of 2021 and compares them to the same time period of 2020. Across all neighborhoods, Boulder County has seen a 7.8% increase in total sales volume. While fewer homes entered the market during the first quarter of the year, the demand for available homes resulted in appreciating prices. The average price for homes in the area rose 14.6%, bringing the average price to $787,932 through March of this year.
The Boulder County Plains communities experienced the largest increase in average price, increasing by 34.5% in Q1 of 2021 compared to the same time frame in 2020. The average price for a home in this area is $1,324,014, up from Q1 of 2020 when the average price was $984,350. Elevated demand for homes within the Boulder community has resulted in many homes spending less time on the market. For example, listings in Downtown Boulder spent an average of 16.2% less time on the market, decreasing from 111 days on market in Q1 of 2020 to 93 days on market through Q1 of this year. Louisville saw one of the more significant decreases in days on market, decreasing by 50.6%, leaving most listings on the market for just 41 days. For those looking for rich community culture and closeness to nature, Boulder is one of the best communities along the Front Range to buy and sell homes.
BOULDER COUNTY January through March
Out of all of the neighborhoods within Boulder County, the Foothills communities saw the most impressive rise in the number of homes sold, increasing by 116.7% from Q1 of 2020 when six homes were sold, to Q1 of 2021 when 13 homes were sold. Other areas that proved to be popular locations to buy homes within Boulder include University Hill and Chautauqua, where the number of homes sold rose from 20 through March of 2020 to 30 through March of this year. This area is highly coveted for its proximity to the trails and natural spaces at Chautauqua Park and the famous Flatirons.
2020
2021
% Change
New Listings
1,559
1,242
-20.3%
Sold Listings (All Properties)
1,129
1,062
-5.9%
Sold Single Family
758
683
-9.9%
Sold Condo
369
377
2.2%
76
60
-21.1%
$687,604
$787,932
14.6%
% Sold Price to List Price
97.8%
100.0%
2.2%
Total Sold Sales Volume
$776,304,414
$836,783,615
7.8%
Average Days on Market Average Price
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.
coloradomicroreports.com
BOULDER VALLEY NEIGHBORHOODS
1. Arvada
5. Downtown Boulder
10. Longmont
14. North Boulder
2. Boulder County Plains
6. East Boulder & Gunbarrel
11. Louisville
15. South Boulder
3. Broomfield
7. Erie/Southwest Weld County
12. Lyons
16. Superior
4. Central Boulder & Historic
8. Foothills Communities
13. Mountain & Canyon
17. University Hill & Chautauqua
District
9. Lafayette
Communities
18. Westminster
12
8
10
14
2
7 6
13
5
4
17
15
1 16 18 11
9 3
MICROMARKET REPORT | Boulder Valley livsothebysrealty.com
JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM
BOULDER COUNTY PLAINS
BOULDER (CITY)
ARVADA
January through March
2020
2021
% Change
$473,541
$539,756
14.0%
31
11
-64.5%
$1,198,380
$2,250,000
87.8%
534
525
-1.7%
% Sold Price to List Price
100.2%
103.7%
3.5%
Total Sold Sales Volume
$252,871,110
$283,371,791
12.1%
2020
2021
% Change
New Listings
617
531
-13.9%
Sold Listings (All Properties)
388
436
12.4%
Sold Single Family
204
217
6.4%
Sold Condo
182
219
20.3%
81
82
1.2%
$ 983,511.50
$989,310
0.6%
97.0%
99.5%
2.6%
Average Price Average Days on Market Highest Price Properties Sold
Boulder is located in the foothills of the Rocky Mountains, just 35 miles northwest of Denver. It is known for its natural beauty, outdoor recreation, natural product retailers and restaurants, outstanding transportation options, diverse businesses, and technological and academic resources.
30.7%
January through March
Average Days on Market Average Price % Sold Price to List Price
January through March Average Price Average Days on Market Highest Price
2020
2021
% Change
$984,350
$1,324,014
34.5%
88
70
-20.5%
$2,465,000
$3,222,983
30.7%
21
25
19.0%
The highest price in the Boulder County
Properties Sold
Plains increased by 30.7% January
% Sold Price to List Price
96.7%
98.5%
1.9%
Total Sold Sales Volume
$ 20,671,357
$ 33,100,338
60.1%
through March 2021 compared to that of 2020.
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates
2021
% Change
$530,314
$624,430
17.7%
41
18
-56.1%
$3,500,000
$2,100,000
-40.0%
238
244
2.5%
% Sold Price to List Price
99.7%
102.2%
2.5%
Total Sold Sales Volume
$126,214,847
$152,360,839
20.7%
2020
2021
% Change
$1,307,618
$1,171,051
-10.4%
93
83
-10.8%
$5,910,000
$4,950,000
-16.2%
69
73
5.8%
% Sold Price to List Price
99.0%
99.3%
0.3%
Total Sold Sales Volume
$ 90,225,628
$ 97,197,220
7.7%
Average Price Average Days on Market Highest Price Properties Sold
January through March Average Price Average Days on Market Highest Price Properties Sold
5.8% The number of properties sold in Central & Historic Boulder increased by 5.8% January through March 2021 compared to that of 2020.
16.2%
2020
2021
% Change
$1,150,544
$886,736
-22.9%
111
93
-16.2%
$2,600,000
$1,750,000
-32.7%
17
13
-23.5%
% Sold Price to List Price
95.6%
95.3%
-0.3%
Boulder decreased by 16.2% January
Total Sold Sales Volume
$ 19,559,247
$ 11,527,567
-41.1%
through March 2021 compared to that of
Average Price Average Days on Market Highest Price Properties Sold
The average days on market in Dowtown
2020.
DOWNTOWN BOULDER
January through March
CENTRAL & HISTORIC BOULDER
2020
BROOMFIELD
January through March
The number of properties sold in East
FOOTHILLS COMMUNITIES
Average Price Average Days on Market Highest Price
2020
2021
% Change
$ 704,017.46
$668,925
-5.0%
75
67
-10.7%
$7,400,000
$3,222,983
-56.4%
125
146
16.8%
Boulder & Gunbarrel increased by 16.8%
Properties Sold
January through March 2021 compared
% Sold Price to List Price
96.3%
100.0%
3.8%
to that of 2020.
Total Sold Sales Volume
$ 88,002,182
$ 97,663,076
11.0%
2020
2021
% Change
$451,918
$519,272
14.9%
72
59
-18.1%
$1,250,000
$1,970,000
57.6%
416
355
-14.7%
% Sold Price to List Price
99.1%
101.1%
2.0%
Total Sold Sales Volume
$ 187,998,042
$ 184,341,582
-1.9%
ERIE/SOUTHWEST WELD COUNTY
EAST BOULDER & GUNBARREL
16.8%
January through March
January through March Average Price Average Days on Market Highest Price Properties Sold
Erie, Frederick, Firestone, Dacono
22.1% The
highest
Communities
price
in
increased
the by
Foothills 22.1%
January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
$902,417
$841,808
-6.7%
87
63
-27.6%
$1,595,000
$1,947,000
22.1%
6
13
116.7%
% Sold Price to List Price
98.1%
99.6%
1.5%
Total Sold Sales Volume
$ 5,414,500
$ 10,943,500
102.1%
Average Price Average Days on Market Highest Price Properties Sold
Pine Brook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
16.0%
2020
2021
% Change
$ 533,047.63
$ 618,535.25
16.0%
67
56
-16.4%
$2,500,000
$2,800,000
12.0%
107
108
0.9%
% Sold Price to List Price
98.5%
102.2%
3.8%
Total Sold Sales Volume
$ 57,036,096
$ 66,801,807
17.1%
2020
2021
% Change
$493,502
$ 602,766.71
22.1%
77
47
-39.0%
$2,385,000
$6,600,000
176.7%
425
358
-15.8%
% Sold Price to List Price
98.5%
99.6%
1.1%
Total Sold Sales Volume
$ 209,738,178
$ 215,790,483
2.9%
2020
2021
% Change
$ 602,559
$ 753,479
25.0%
83
41
-50.6%
$1,560,000
$2,400,000
53.8%
74
53
-28.4%
The average days on market in Louisville
% Sold Price to List Price
99.4%
102.3%
2.9%
decreased by 50.6% January through
Total Sold Sales Volume
$ 44,589,389
$ 39,934,379
-10.4%
Average Price Average Days on Market Highest Price Properties Sold
January through March
Average Days on Market Highest Price Properties Sold
Average Price Average Days on Market Highest Price Properties Sold
compared to that of 2020.
50.6% March 2021 compared to that of 2020.
LOUISVILLE
January through March
by 16.0% January through March 2021
LONGMONT
Average Price
The average price in Lafayette inecreased
LAFAYETTE
January through March
LYONS
46.7%
Average Price Average Days on Market Highest Price
2020
2021
% Change
$ 540,416.67
$ 691,944.44
28.0%
105
56
-46.7%
$785,000
$1,250,000
59.2%
12
18
50.0%
The average days on market in Lyons
Properties Sold
decreased by 46.7% January through
% Sold Price to List Price
98.6%
100.6%
2.0%
Total Sold Sales Volume
$6,485,000
$12,455,000
92.1%
2020
2021
% Change
$486,239
$538,707
10.8%
91
90
-1.1%
$1,100,000
$2,035,000
85.0%
33
44
33.3%
% Sold Price to List Price
96.9%
99.5%
2.7%
Total Sold Sales Volume
$16,045,875
$23,703,117
47.7%
MOUNTAIN & CANYON COMMUNITIES
March 2021 compared to that of 2020.
NORTH BOULDER
January through March
January through March Average Price Average Days on Market Highest Price Properties Sold
Nederland, Allenspark, Gilpin County
8.7% The number of properties sold in North Boulder increased by 8.7% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
$812,804
$783,618
-3.6%
77
69
-10.4%
$7,400,000
$4,200,000
-43.2%
219
238
8.7%
% Sold Price to List Price
96.5%
99.3%
2.9%
Total Sold Sales Volume
$ 178,004,135
$ 186,501,142
4.8%
Average Price Average Days on Market Highest Price Properties Sold
8.3%
% Change
$894,504
$849,343
-5.0%
60
55
-8.3%
$2,950,000
$2,255,522
-23.5%
58
50
-13.8%
% Sold Price to List Price
99.7%
101.2%
1.5%
Total Sold Sales Volume
$ 51,881,250
$ 42,467,140
-18.1%
2020
2021
% Change
$ 629,306.36
$ 725,805.33
15.3%
63
47
-25.4%
$1,165,000
$1,198,562
2.9%
39
33
-15.4%
The average price in Superior increased
% Sold Price to List Price
99.4%
104.5%
5.1%
by 15.3% January through March 2021
Total Sold Sales Volume
$ 24,542,948
$ 23,951,576
-2.4%
2020
2021
% Change
$1,491,486
$1,482,017
-0.6%
73
77
5.5%
$3,700,000
$3,200,000
-13.5%
20
30
50.0%
% Sold Price to List Price
97.1%
98.7%
1.6%
Total Sold Sales Volume
$ 29,829,710
$ 44,460,521
49.0%
Average Price Average Days on Market Highest Price Properties Sold
January through March Average Price Average Days on Market Highest Price Properties Sold
January through March Average Price Average Days on Market Highest Price Properties Sold
The average days on market in South Boulder decreased by 8.3% January through March 2021 compared to that of 2020.
15.3% compared to that of 2020.
UNIVERSITY HILL & CHAUTAUQUA
2021
SUPERIOR
2020
SOUTH BOULDER
January through March
WESTMINSTER
January through March
2020
2021
% Change
$401,762
$469,861
17.0%
23
13
-43.5%
$1,470,000
$1,807,500
23.0%
367
394
7.4%
% Sold Price to List Price
100.2%
103.7%
3.5%
Total Sold Sales Volume
$147,446,789
$185,125,314
25.6%
Average Price Average Days on Market Highest Price Properties Sold
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MICROMARKET REPORT | Boulder Valley JANUARY - MARCH 2021 • COLORADOMICROREPORTS.COM