MICROMARKET REPORT
BOULDER | MID-YEAR 2020
BOULDER/NORTH METRO NEIGHBORHOODS 1. Mountain & Canyon
15
3
Communities 2. Foothills Communities 3. Lyons 4. North Boulder 5. Downtown 6. University Hill & Chautauqua
2 10
4
7. Central Boulder & Historic
14
District 8. South Boulder 9
9. East Boulder & Gunbarrel 10. Eastern Boulder County Plains
5
13. Lafayette
7
1 6
14. Erie 15. Longmont 16. Broomfield 17. Westminster
13
8
L w t t d s m t B o a w
D n o B i t
11. Superior 12. Louisville
J s i c a
16 11 18 17 12
Pictured on cover: 7645 N 41st Street, Longmont
18. Arvada
S m s e
D p O s l
B t
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BOULDER MARKET UPDATE Just a half-hour north of Denver, the City of Boulder is a community built for those with a passion for peaceful outdoor settings, thrillseeking adventures, local artisan dining and shopping experiences, and much more. There’s truly something here for everyone. Nestled into the base of the famous flatiron rock formations, any time spent in this colorful community is hard to forget. The city’s beauty, combined with its array of activities suitable for all lifestyles, makes this a desirable destination for those looking to invest in a home or find a vacation property. LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder County and each of the unique neighborhoods within and around it. The report examines key performance indicators from January through June of 2020 and compares them to the same time period of 2019. The lack of real estate activity in the spring, due to social distancing mandates put in place to protect the public during the pandemic, resulted in a lower total sales volume, which decreased 10.6% January through June 2020 compared to the same time period in 2019. However, now that the real estate January through June 2019 2020 % Change market has largely returned to its normal levels of inventory, New Listings 3,830 3281 -14.3% the metrics have recently improved. Across all neighborhoods, Sold Listings (All Properties) 2,365 2080 -12.1% Boulder County has seen a 1.6% increase in the average price 1,635 1,445 -11.6% of homes. This slight increase in overall prices brings the 2020 Sold Single Family average price for homes in Boulder to $671,398, up from 2019 Sold Attached Dwellings 657 589 -10.4% when the average price was $660,755. Average Days on Market 71 67 -5.6%
BOULDER COUNTY
Average Price
$660,755
$671,398
1.6%
Despite a brief pause in home buying and selling, many 98.5% 98.3% -0.2% neighborhoods still experienced upticks in buying activity. Out % Sold Price to Original List Price of all of the communities within Boulder County, Downtown Total Dollar Volume Sold $1,562,686,479 $1,396,508,599 -10.6% Boulder saw the largest rise in the number of homes sold, increasing by 61.5% through June of 2020 compared to the same time frame in 2019. In total, there were 21 homes sold in Q1 and Q2 of this year. South Boulder also saw a slight increase in the number of homes sold, growing by 2.8%. Several areas experienced an increase in the average prices for homes through June of this year. The City of Westminster saw one of the most notable increases, rising by 6.5%. Home prices in this community reached an average of $414,423. University Hills and Chautauqua, some of Boulder’s most popular neighborhoods because of their proximity to open space and the hiking trails of Chautauqua Park, experienced a 2.4% growth in average home prices, bringing the average price to $1,388,094. Demand for homes across Colorado, including the Boulder area communities, has increased, revealing that buyers are ready to find and purchase their next homes once again. This point can be illustrated through the average days homes in an area spend on the market. Overall, homes in Boulder County have spent 5.5% less time on the market, an average of 67 days, through June of 2020 compared to the same time period in 2019. The Mountain and Canyon Communities have seen properties sell even more quickly than that, spending 51.8% less time on the market so far in 2020 than January through June of 2019. Boulder is an incredible place to live with convenient access to culture, city life, and captivating mountain views. The real estate market in this area continues to show signs of strength and growth as it attracts more consumers to its thriving communities.
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 livsothebysrealty.com
JANUARY - JUNE 2020 • COLORADOMICROREPORTS.COM
CITY OF BOULDER Located at the base of the foothills of the Rocky Mountains, at an elevation of 5,430 feet. Boulder is home to the University of
January through June
2019
2020
% Change
New Listings
1,476
1,340
-9.2%
Sold Listings (All Properties)
767
671
-12.5%
Sold Single Family
453
375
-17.2%
Sold Condo
314
294
-6.4%
64
70
9.4%
$927,148
$936,189
1.0%
98.7%
97.6%
-1.1%
$711,122,749
$628,182,742
-12%
Average Days on Market
Colorado and is famous
Average Price
for its colorful Western
% Sold Price to List Price
history.
Total Sold Sales Volume
CENTRAL & HISTORIC BOULDER January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,027,971
$1,237,628
20.4%
54
77
42.6%
$4,500,000
$5,910,000
31.3%
117
100
-14.5%
99.2%
98.6%
-0.6%
$120,272,553
$123,762,810
2.9%
Mapleton Hill, Whittier, Newlands, Green Meadows, Sunset Hill, Panorama Heights
1010 Rosehill Drive, Boulder
DOWNTOWN BOULDER January through June
Stroll along our popular pedestrian mall and enjoy a great selection of restaurants, bookstores, boutiques, and sidewalk cafes in Downtown Boulder.
Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,444,923
$1,142,554
-20.9%
105
99
-5.7%
$2,495,000
$2,600,000
4.2%
13
21
61.5%
97.3%
95.5%
-1.8%
$18,784,000
$23,993,632
27.7%
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UNIVERSITY HILL & CHAUTAUQUA January through June Average Price
2020
% Change
$1,355,941
$1,388,094
2.4%
65
70
7.7%
$3,900,000
$3,700,000
-5.1%
44
26
-40.9%
The average price for the area of University
96.9%
96.9%
0.0%
Hill & Chautauqua increased by 2.4% January
$59,661,400
$36,090,434
-39.5%
through June 2020 compared to that of 2019.
Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2.4%
2019
Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park
2.8%
SOUTH BOULDER January through June Average Price Average Days on Market Highest Price
The number of properties sold for South
Properties Sold
Boulder increased by 2.8% January through
% Sold Price to List Price
June 2020 compared to that of 2019.
Total Sold Sales Volume
2019
2020
% Change
$907,694
$839,152
-7.6%
53
54
1.9%
$3,304,800
$2,950,000
-10.7%
108
111
2.8%
98.9%
99.9%
1.0%
$98,030,916
$93,145,851
-5.0%
Devil’s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows
NORTH BOULDER January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$946,649
$961,369
1.6%
65
65
0.0%
$4,500,000
$6,600,000
46.7%
151
135
-10.6%
98.6%
97.8%
-0.8%
$142,944,067
$129,784,759
-9.2%
Wonderland Hill,Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay’s Orchard, Moores
589 Laramie Blvd, Boulder
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55.4%
EAST BOULDER & GUNBARREL January through June Average Price Average Days on Market Highest Price
The highest price in East Boulder & Gunbarrel
Properties Sold
increased by 55.4% January through June 2020
% Sold Price to List Price
compared to that of 2019.
Total Sold Sales Volume
2019
2020
% Change
$694,524
$697,568
0.4%
62
69
11.3%
$4,761,819
$7,400,000
55.4%
277
238
-14.1%
98.5%
97.3%
-1.2%
$192,383,203
$166,021,253
-13.7%
LOUISVILLE January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$681,475
$661,417
-2.9%
50
64
28.0%
$2,000,000
$1,775,000
-11.3%
156
135
-13.5%
99.4%
99.8%
0.4%
$106,310,154
$89,291,297
-16.0%
487 Carmen Street, Louisville
SUPERIOR The town was reportedly
January through June
named for the “superior
Average Price
quality” of coal found in the
Average Days on Market
area. Mining continued to be
Highest Price
the major force in Superior’s
Properties Sold
history until 1945 with the
% Sold Price to List Price
Industrial Mine closure.
Total Sold Sales Volume
2019
2020
% Change
$626,048
$629,125
0.5%
51
52
2.0%
$1,225,762
$1,022,608
-16.6%
86
66
-23.3%
99.3%
99.6%
0.3%
$53,840,103
$41,522,278
-22.9%
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LAFAYETTE January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$558,430
$570,979
2.2%
50
52
4.0%
$1,280,000
$2,500,000
95.3%
243
194
-20.2%
99.5%
99.2%
-0.3%
$135,698,400
$110,769,909
-18.4%
2560 Blue Heron Circle W, Lafayette
ERIE/SOUTHWEST WELD COUNTY January through June
The Town of Erie was
Average Price
officially established on
Average Days on Market
November 16, 1874. It is
Highest Price
known for its open space
Properties Sold
and quaint community.
% Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$464,273
$472,718
1.8%
51
51
0.0%
$1,585,000
$1,450,000
-8.5%
647
636
-1.7%
99.2%
99.5%
0.3%
$300,384,655
$300,648,750
0.1%
Erie, Frederick, Firestone, Dacono
LONGMONT January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$470,396
$491,357
4.5%
63
63
0.0%
$2,975,000
$3,500,000
17.6%
826
782
-5.3%
98.4%
98.9%
0.5%
$388,546,745
$384,240,811
-1.1%
2232 Picadilly Circle, Longmont
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LYONS January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$577,342
$547,718
-5.1%
89
83
-6.7%
$1,086,246
$899,900
-17.2%
40
38
-5.0%
98.5%
98.2%
-0.3%
$23,093,681
$20,813,300
-9.9%
203 Riverside Drive, Lyons
BOULDER COUNTY PLAINS January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,053,477
$1,095,972
4.0%
74
96
29.7%
$4,761,819
$2,650,000
-44.3%
68
48
-29.4%
96.7%
97.2%
0.5%
$71,636,440
$52,606,649
-26.6%
With close access to the city of Boulder and surrounding areas, Boulder County Plains provides endless views of the Boulder Flatirons.
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates
FOOTHILLS COMMUNITIES January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
1133 Timber Lane, Boulder
2019
2020
% Change
$898,324
$932,167
3.8%
103
66.5
-35.4%
$2,500,000
$1,595,000
-36.2%
19
6
-68.4%
100.6%
99.0%
-1.6%
$17,068,150
$5,593,000
-67.2%
Pine Brook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
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MOUNTAIN & CANYON COMMUNITIES January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$512,213
$513,428
0.2%
137
66
-51.8%
$1,330,000
$2,470,000
85.7%
60
60
0.0%
95.6%
96.5%
0.9%
$30,732,774
$30,805,689
0.2%
51.8% The average days on market for the Mountain & Canyon Communities decreased by 51.8% January through June 2020 compared to that of 2019.
Nederland, Allenspark, Gilpin County
BROOMFIELD January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$526,390
$548,145
4.1%
29
31
6.9%
$2,425,000
$3,500,000
44.3%
625
525
-16.0%
99.4%
99.7%
0.3%
$328,993,524
$287,776,010
-12.5%
16001 Lookout Point, Broomfield
WESTMINSTER January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$389,056
$414,423
6.5%
21
17
-19.0%
$1,501,000
$1,600,000
6.6%
6.6%
900
815
-9.4%
The highest price in Westminster increased by
99.8%
100.3%
0.5%
$350,150,511
$337,754,467
-3.5%
6.6% January through June 2020 compared to that of 2019.
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ARVADA January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$464,162
$482,367
3.9%
26
24
-7.7%
$1,230,000
$1,282,000
4.2%
1277
1142
-10.6%
99.7%
100.2%
0.5%
$592,734,360
$550,863,360
-7.1%
17584 West 84th Drive, Arvada
WHY COLORADO? NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
SKI AREAS & RESORTS:
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
CRAFT BREWERIES: 350+
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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.