MICROMARKET REPORT
BOULDER VALLEY | YEAR END 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: 1357 S Cherryvale Road, Boulder
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BOULDER VALLEY MARKET UPDATE There are few communities as exciting as those in the Boulder Valley. This collection of communities at the base of the Rocky Mountains offers its residents a life filled with variety. Here your days can consist of heading outdoors to explore the more than 150 miles of trails and 45,000 acres of open space, including the Chautauqua Park and the iconic Flatiron rock formations, or strolling down Pearl Street to sample some of the finest dining and shopping Colorado has to offer. Located just 40 minutes north of Denver, Boulder combines the tight-knit community feel of a small town with the amenities and activities one might find in a bustling metropolis, all within reach of the great outdoors. For these reasons, Boulder has become a top choice for consumers in search of their dream home – especially with health and wellness playing a more important part in the decision-making process for many homebuyers. LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder Valley and each of the unique neighborhoods within it. The report examines key performance indicators from 2020 and compares them to 2019. Across all neighborhoods, the area has seen a 4.7% increase in the number of properties sold during 2020. Additionally, the average sold price for homes rose by 7%. As a result of these increases, the total dollar volume sold grew 12%, totaling $3,603,242,260.
BOULDER COUNTY January through December
2019
2020
% Change
New Listings
6,662
6,094
-8.5%
Sold Listings (All Properties)
4,818
5,046
4.7%
Sold Single Family
3,427
3,651
6.5%
Sold Condo
1,382
1,386
0.3%
65
60
-7.7%
$667,515
$714,079
7.0%
Average Days on Market Average Price
% Sold Price to Original List Price Many neighborhoods within Boulder and its nearby 98.2% 98.7% 0.5% communities experienced increases in the number of Total Dollar Volume Sold $3,216,088,920 $3,603,242,260 12.0% properties sold in 2020, compared to 2019. In the Mountain and Canyon communities there were 32.2% more homes sold than there were in 2019, growing from 146 homes sold in 2019 to 193 homes sold last year. Downtown Boulder also experienced an influx of home sales, increasing the number of sold homes by 28.6%. In 2020, there were 36 homes sold in this neighborhood compared to 2019 when 28 homes were sold.
In addition to more properties being sold, average home prices have shown an upward trend in certain areas of Boulder as well. Properties in the University Hills and Chautauqua increased by an impressive 17.5%, reaching an average price of $1,523,710. In the nearby City of Arvada, the average price rose by 16.5%. Homes in this town sold for an average price of $519,681 in 2020. Increased levels of demand of Boulder area homes resulted in a decrease in the average days on market for various neighborhoods. This trend can be seen in the Foothills Communities, which includes Pinebrook Hills, Boulder Heights, Lake of Pines, Jamestown, and Eldorado Springs, where the average days on market for homes dropped from 87 days to 64 days, a 26.4% decrease. The Cities of Broomfield and Westminster each experienced a 50% decrease in average days on market, bringing the typical time on market to 21 days and 14 days respectively. Although the Boulder Valley area has been a longtime favorite for homebuyers in Colorado, it appears that its popularity only continues to grow as more consumers place a heavier focus on homes that will cater to their desired lifestyle. 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 - DECEMBER 2020 • COLORADOMICROREPORTS.COM
53.3%
The average days on market in the city of Arvada decreased by 53.3% January through December 2020 compared to that of 2019.
ARVADA January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$446,045
$519,681
16.5%
30
14
-53.3%
$1,150,000
$1,275,000
10.9%
616
718
16.6%
99.1%
101.4%
2.3%
$274,763,666
$373,131,312
35.8%
BOULDER (CITY) January through December
2019
2020
% Change
New Listings
2,525
2,553
1.1%
Sold Listings (All Properties)
1,589
1,770
11.4%
Sold Single Family
935
1,035
10.7%
Sold Condo
652
731
12.1%
72
64
-11.1%
$924,693
$956,418
3.4%
97.6%
98.0%
0.4%
$1,469,336,906
$1,692,860,094
15%
Average Days on Market Average Price % Sold Price to List Price Total Sold Sales Volume
17.1%
3601 Arapahoe Avenue 332, Boulder
BOULDER COUNTY PLAINS January through December Average Price Average Days on Market
The number of properties sold in the area of Boulder
Highest Price
County Plains increased by 17.1% January through
Properties Sold
December 2020 compared to that of 2019.
% Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,027,692
$1,102,636
7.3%
69
96
39.1%
$7,200,000
$2,900,000
-59.7%
129
151
17.1%
97.7%
97.6%
-0.1%
$132,607,126
$166,497,977
25.6%
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates
coloradomicroreports.com
BROOMFIELD January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$520,572
$561,234
7.8%
42
21
-50.0%
$2,115,000
$2,270,000
7.3%
308
314
1.9%
98.7%
100.2%
1.5%
$160,336,203
$176,227,335
9.9%
615 W 171st Place, Broomfield
CENTRAL & HISTORIC BOULDER Geographically central to the
January through December
rest of Boulder, this area is
Average Price
a frequent hub of activity for
Average Days on Market
visitors who will find hotels,
Highest Price
cultural institutions and
Properties Sold
venerable restaurants.
% Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,199,405
$1,192,460
-0.6%
69
68
-1.4%
$7,200,000
$7,000,000
-2.8%
236
273
15.7%
97.5%
97.9%
0.4%
$283,059,645
$325,541,672
15.0%
DOWNTOWN BOULDER January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,201,168
$1,034,295
-13.9%
98
96
-2.0%
$2,495,000
$2,600,000
4.2%
28
36
28.6%
96.7%
96.6%
-0.1%
$33,632,700
$37,234,632
10.7%
1077 Canyon Boulevard, Boulder
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55.4%
EAST BOULDER & GUNBARREL January through December Average Price Average Days on Market Highest Price
The highest price in East Boulder and Gunbarrel
Properties Sold
increased by 55.4% January through December
% Sold Price to List Price
2020 compared to that of 2019.
Total Sold Sales Volume
2019
2020
% Change
$691,413
$709,638
2.6%
68
60
-11.8%
$4,761,819
$7,400,000
55.4%
533
619
16.1%
98.1%
98.3%
0.2%
$368,523,183
$439,265,831
19.2%
ERIE/SOUTHWEST WELD COUNTY January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$471,877
$496,762
5.3%
57
49
-14.0%
$2,250,000
$2,160,000
-4.0%
1,370
1,422
3.8%
98.9%
99.6%
0.7%
$646,471,607
$706,395,506
9.3%
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
6.7%
The average price within the Foothills Communities increased by 6.7% January through December 2020 compared to that of 2019.
FOOTHILLS COMMUNITIES January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,062,209
$1,133,711
6.7%
87
64
-26.4%
$5,779,000
$4,995,000
-13.6%
50
49
-2.0%
96.9%
95.5%
-1.4%
$53,110,450
$55,551,846
4.6%
Pine Brook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
coloradomicroreports.com
LAFAYETTE January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$565,504
$596,492
5.5%
58
50
-13.8%
$2,125,000
$2,500,000
17.6%
479
485
1.3%
98.9%
99.8%
0.9%
$270,876,533
$289,298,443
6.8%
10014 Empire Road, Lafayette
LONGMONT January through December
Longmont provides a
Average Price
diverse and multicultural
Average Days on Market
community, making it a
Highest Price
great place for people of
Properties Sold
all types to find a sense of
% Sold Price to List Price
community and belonging.
Total Sold Sales Volume
2019
2020
% Change
$477,616
$531,112
11.2%
63
59
-6.3%
$2,975,000
$4,000,000
34.5%
1,769
1,802
1.9%
98.5%
99.0%
0.5%
$844,902,251
$957,063,046
13.3%
LOUISVILLE January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$651,850
$667,805
2.4%
52
62
19.2%
$2,000,000
$1,775,000
-11.3%
314
323
2.9%
99.1%
100.0%
0.9%
$204,680,966
$215,701,100
5.4%
295 Harper Street, Louisville
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LYONS Lyons is perfect for
January through December
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
2019
2020
% Change
$580,349
$594,880
2.5%
83
68
-18.1%
$1,460,000
$1,600,000
9.6%
93
106
14.0%
98.1%
99.1%
1.0%
$53,972,431
$63,057,314
16.8%
MOUNTAIN & CANYON COMMUNITIES January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$493,031
$551,155
11.8%
76
74
-2.6%
$1,330,000
$2,183,000
64.1%
146
193
32.2%
97.2%
98.4%
1.2%
$71,982,488
$106,372,889
47.8%
Nederland, Allenspark, Gilpin County
60.0%
The highest price within North Boulder increased by 60.0% January through December 2020 compared to that of 2019.
1260 Twin Sisters Road, Nederland
NORTH BOULDER January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$887,657
$993,320
11.9%
78
62
-20.5%
$4,500,000
$7,200,000
60.0%
333
377
13.2%
98.0%
98.3%
0.3%
$295,589,909
$374,481,660
26.7%
coloradomicroreports.com
SOUTH BOULDER January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
9.0%
2019
2020
% Change
$901,781
$841,766
-6.7%
57
52
-8.8%
$4,550,000
$2,950,000
-35.2%
233
254
9.0%
The number of properties sold in South Boulder
98.3%
99.8%
1.5%
increased by 9.0% January through December
$210,114,951
$213,808,685
1.8%
2020 compared to that of 2019.
SUPERIOR In Superior, you can find a
January through December
quiet ranching and farming
Average Price
community, an up-and-
Average Days on Market
coming downtown area, as
Highest Price
well as 630 acres of open
Properties Sold
space and parks with 35
% Sold Price to List Price
miles of trails.
Total Sold Sales Volume
UNIVERSITY HILL & CHAUTAUQUA January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
2019
2020
% Change
$1,297,021
$1,523,710
17.5%
76
81
6.6%
$3,900,000
$6,800,000
74.4%
98
83
-15.3%
96.1%
97.3%
1.2%
$127,108,068
$126,467,914
-0.5%
2019
2020
% Change
$631,746
$658,541
4.2%
52
49
-5.8%
$1,453,108
$1,165,000
-19.8%
204
182
-10.8%
99.7%
100.4%
0.7%
$128,876,182
$119,854,516
-7.0%
74.4% The highest price in University Hill & Chautauqua increased by 74.4% January through December 2020 compared to that of 2019.
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WESTMINSTER January through December Average Price
2019
2020
% Change
$396,326
$444,062
12.0%
28
14
-50.0%
$1,610,000
$2,700,000
67.7%
469
535
14.1%
99.0%
101.4%
2.4%
$185,876,881
$237,572,955
27.8%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume
50.0% The average days on market in the city of Westminster decreased by 50.0% January through December 2020 compared to that of 2019.
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.