MICROMARKET REPORT
BOULDER VALLEY | Q3 2020
BOULDER VALLEY/NORTH METRO NEIGHBORHOODS 1. Arvada
12
10
2. Boulder County Plains 3. Broomfield 4. Central Boulder & Historic District 5. Downtown 6. East Boulder & Gunbarrel 7. Erie/Southwest Weld County
8
14
2
8. Foothills Communities 9. Lafayette
7
10. Longmont 6
11. Louisville 12. Lyons 13. Mountain & Canyon Communities
13
5
4
14. North Boulder 15. South Boulder
17
16. Superior 17. University Hill & Chautauqua
15
1 16 18 11
9 3
18. Westminster Pictured on cover: 4580 Augusta Drive, Broomfield
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BOULDER VALLEY MARKET UPDATE Recently ranked as the number one city to live in the country by U.S. News & World Report, Boulder and its surrounding neighborhoods are a lively community filled with thriving businesses, beautiful outdoor spaces, and a diverse mix of people. With more than 150 miles of trails and 45,000 acres of open space to explore, it’s no wonder why Boulder County is one of the healthiest communities in the nation. The active lifestyle is just one of many aspects that attract so many people to Boulder. Similar to Denver Metro, which is located just 40 minutes south, Boulder is seeing a boom in real estate activity amidst the pandemic. For many, the access to nature and quality of life found here is simply irresistible. For that reason, buying and selling activity in the Boulder community has increased at an impressive rate. 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 January through September of 2020 and compares them to the same time period of 2019. Across all neighborhoods, Boulder County has seen a 1.9% increase in the amount of properties sold through Q3 of this year. Additionally, the average sold price for homes in the area rose by 4.6%. As a result of these increases, the total dollar volume sold grew 6.6%, totaling $2,614,653,408.
BOULDER COUNTY January through September
2019
2020
% Change
New Listings
5,675
5,133
-9.6%
Sold Listings (All Properties)
3,670
3,739
1.9%
Sold Single Family
2,610
2,697
3.3%
Sold Condo
1,052
1,038
-1.3%
63
61
-3.2%
$668,410
$699,292
4.6%
98.4%
98.7%
0.3%
Average Days on Market Average Price % Sold Price to Original List Price
Many neighborhoods within Boulder and its nearby Total Dollar Volume Sold $2,453,064,864 $2,614,653,408 6.6% communities experienced increases in the number of properties sold through September of this year, compared to 2019. In the Mountain and Canyon communities there were 32% more homes sold than there were January through September of last year. The City of Boulder also experienced an influx of home sales, increasing the number of sold homes by 6.6%. In addition to more homes being sold, average home prices have shown an upward trend in Boulder as well. Properties within North Boulder increased in price by 8.6%, reaching an average price of $964,163. In Longmont, the average price rose by 8.2% which makes homes in this neighborhood sell for an average price of $516,013. Days on market is an important indicator that shows how quickly homes are selling. In Downtown Boulder, the average days on market decreased by 29.8%, dropping from 124 days to 87 days. The Foothills Communities, which include Pinebrook Hills, Boulder Heights, Lake of Pines, Jamestown, and Eldorado Springs, saw a 27.2% decrease in the average days on market. Homes in these neighborhoods are selling within an average of 59 days. 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 - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
ARVADA January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$462,702
$490,793
6.1%
26
21
-19.2%
$1,230,000
$1,490,000
21.1%
2,045
2,044
0.0%
99.6%
100.5%
0.9%
$946,224,895
$1,003,179,973
6.0%
13912 W 74th Place, Arvada
BOULDER (CITY)
5.9%
January through September
2019
2020
% Change
New Listings
2,174
2,159
-0.7%
Sold Listings (All Properties)
1,213
1,293
6.6%
Sold Single Family
702
757
7.8%
Sold Condo
509
533
4.7%
68
64
-5.9%
decreased by 5.9% January through September
$922,158
$940,596
2.0%
2020 compared to that of 2019.
98.0%
98.0%
0.0%
$1,118,577,829
$1,216,191,241
8.7%
Average Days on Market Average Price % Sold Price to List Price Total Sold Sales Volume
The average days on market in Boulder
BOULDER COUNTY PLAINS With close access to the city of Boulder and surrounding areas, Boulder County Plains provides endless views of the Boulder Flatirons.
January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,478,084
$1,089,212
-26.3%
68
98
44.1%
$7,200,000
$2,800,000
-61.1%
93
97
4.3%
97.3%
97.8%
0.5%
$100,509,690
$105,653,541
5.1%
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates
coloradomicroreports.com
BROOMFIELD January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$531,032
$555,736
4.7%
31
28
-9.7%
$2,500,000
$3,500,000
40.0%
980
963
-1.7%
99.3%
99.9%
0.6%
$520,411,570
$535,173,763
2.8%
16001 Lookout Point, Broomfield
CENTRAL & HISTORIC BOULDER
11.0%
January through September Average Price Average Days on Market Highest Price
The number of properties sold in Central & Historic
Properties Sold
Boulder increased by 11.0% January through
% Sold Price to List Price
September 2020 compared to that of 2019.
Total Sold Sales Volume
2019
2020
% Change
$1,128,660
$1,161,368
2.9%
54
67
24.1%
$7,200,000
$7,000,000
-2.8%
182
202
11.0%
98.4%
98.1%
-0.3%
$205,416,128
$234,596,414
14.2%
Mapleton Hill, Whittier, Newlands, Green Meadows, Sunset Hill, Panorama Heights
DOWNTOWN BOULDER January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,341,562
$1,081,594
-19.4%
124
87
-29.8%
$2,495,000
$2,600,000
4.2%
21
28
33.3%
97.0%
96.1%
-0.9%
$28,172,800
$30,284,632
7.5%
2040 16th Street, Boulder
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55.4%
EAST BOULDER & GUNBARREL January through September Average Price Average Days on Market Highest Price
The highest price in East Boulder and Gunbarrel
Properties Sold
increased by 55.4% January through September
% Sold Price to List Price
2020 compared to that of 2019.
Total Sold Sales Volume
2019
2020
% Change
$699,883
$707,703
1.1%
69
63
-8.7%
$4,761,819
$7,400,000
55.4%
403
448
11.2%
98.2%
98.1%
-0.1%
$282,052,690
$317,051,162
12.4%
ERIE/SOUTHWEST WELD COUNTY January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$469,481
$480,481
2.3%
56
49
-12.5%
$2,250,000
$1,450,000
-35.6%
1,039
1,124
8.2%
98.9%
99.5%
0.6%
$487,791,261
$540,060,824
10.7%
The Town of Erie was officially established on November 16, 1874. It is known for its open space and quaint community.
Erie, Frederick, Firestone, Dacono
27.2%
FOOTHILLS COMMUNITIES January through September Average Price Average Days on Market
The average days on market in the Foothills
Highest Price
Communities decreased by 27.2% January through
Properties Sold
September 2020 compared to that of 2019.
% Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,091,293
$935,219
-14.3%
81
59
-27.2%
$5,779,000
$2,247,500
-61.1%
35
22
-37.1%
97.4%
97.5%
0.1%
$38,195,250
$20,574,825
-46.1%
Pine Brook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
coloradomicroreports.com
LAFAYETTE January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
You can find plenty of 2019
2020
% Change
$570,189
$596,406
4.6%
space, and bikeways in this
53
52
-1.9%
area. Lafayette also offers an
$2,125,000
$2,500,000
17.6%
attractive and fun downtown
364
360
-1.1%
area, featuring a variety of
99.2%
99.7%
0.5%
shops, boutiques, coffee
$207,548,919
$214,706,066
3.4%
shops, and restaurants.
greenbelts, parks, open
LONGMONT January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$476,897
$516,013
8.2%
63
59
-6.3%
$2,975,000
$4,000,000
34.5%
1,352
1,358
0.4%
98.6%
99.2%
0.6%
$644,764,751
$700,745,786
8.7%
8582 Yellowstone Road, Longmont
LOUISVILLE January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$651,856
$663,077
1.7%
50
65
30.0%
$1,775,000
$2,000,000
12.7%
239
246
2.9%
99.3%
99.8%
0.5%
$155,793,529
$163,117,016
4.7%
Built by coal miners in the mid 1870s, Louisville has a rich history. Today, it is known for its livability, great neighborhoods and schools, a variety of eateries, a thriving arts scene, and over 1,700 acres of open space.
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LYONS Lyons is perfect for
January through September
those looking for outdoor
Average Price
adventures and a town
Average Days on Market
with lots of character. The
Highest Price
town is abundant with
Properties Sold
hiking, biking, and river
% Sold Price to List Price
recreation opportunities.
Total Sold Sales Volume
MOUNTAIN & CANYON COMMUNITIES January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$490,157
$559,014
14.0%
78
68
-12.8%
$1,330,000
$2,183,000
64.1%
103
136
32.0%
97.6%
98.0%
0.4%
$50,486,198
$76,025,889
50.6%
2019
2020
% Change
$587,600
$567,057
-3.5%
77
66
-14.3%
$1,460,000
$1,600,000
9.6%
67
82
22.4%
98.3%
98.8%
0.5%
$39,369,181
$46,498,700
18.1%
14.0%
The average price in the Mountain and Canyon communities increased by 14.0% January through September 2020 compared to that of 2019.
Nederland, Allenspark, Gilpin County
NORTH BOULDER
Two miles north of Downtown Boulder lies
January through September
North Boulder (commonly
Average Price
referred to as NoBo),
Average Days on Market
a quiet residential
Highest Price
neighborhood with parks,
Properties Sold
trails, and a growing retail
% Sold Price to List Price
and restaurant scene.
Total Sold Sales Volume
2019
2020
% Change
$888,051
$964,163
8.6%
77
64
-16.9%
$4,500,000
$6,650,000
47.8%
258
267
3.5%
98.2%
98.2%
0.0%
$229,117,227
$257,431,470
12.4%
Wonderland Hill,Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay’s Orchard, Moores
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SOUTH BOULDER January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
7.9%
2019
2020
% Change
$909,314
$837,011
-8.0%
51
48
-5.9%
$3,650,000
$2,950,000
-19.2%
178
192
7.9%
The number of properties sold in South Boulder
98.7%
100.1%
1.4%
increased by 7.9% January through September
$161,857,916
$160,706,080
-0.7%
2020 compared to that of 2019.
Devil’s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows
SUPERIOR January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$636,821
$647,943
1.7%
50
52
4.0%
$1,165,000
$1,371,250
17.7%
153
134
-12.4%
99.9%
100.1%
0.2%
$97,433,630
$86,824,424
-10.9%
405 Edison Place, Superior
UNIVERSITY HILL & CHAUTAUQUA January through September Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,299,965
$1,264,929
-2.7%
72
74
2.8%
$3,900,000
$5,675,000
45.5%
74
60
-18.9%
96.2%
96.8%
0.6%
$96,197,418
$93,604,734
-2.7%
45.5%
The highest price in the area of University Hill and Chautauqua increased by 45.5% January through September 2020 compared to that of 2019.
Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park
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WESTMINSTER January through September Average Price
2019
2020
% Change
$398,689
$422,429
6.0%
21
15
-28.6%
$1,750,000
$1,600,000
-8.6%
1,459
1,459
0.0%
99.7%
100.7%
1.0%
$581,687,637
$616,323,535
6.0%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
11737 Tennyson Way, Westminster
WHY COLORADO? NATIONAL PARKS: 4
MOUNTAIN RANGES: 7
SKI AREAS & RESORTS: 28
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
CRAFT BREWERIES: 350+
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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.