Boulder Q1, 2017 Micro Market Report

Page 1

NEIGHBORHOOD MICROMARKET REPORT |

January through June

2016

2017

% Change

Average Price Boulder • Quarter 1 2017 Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

NEIGHBORHOOD January through June

2016

2017

% Change

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

NEIGHBORHOOD January through June

2016

2017

% Change

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Boundaries:

MICROMARKET REPORT | Denver Metro 303.893.3200

page 1

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


BOULDER COUNTY NEIGHBORHOODS 15

3

1.

Mountain & Canyon Communities

2.

Foothills Communities

3. Lyons 4. 2

North Boulder

5. Downtown

10

14

4

9

6.

University Hill & Chautauqua

7.

Central Boulder & Historic District

8.

South Boulder

9.

East Boulder & Gunbarrel

10.

Eastern Boulder County Plains

11. Superior 12. Louisville

1

5

7

13. Lafayette 14. Erie 15. Longmont

6

13 8

11

12

Pictured on cover: 413 Wild Horse Circle, Boulder

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BOULDER Market Introduction The Boulder real estate market remains one of the most robust in the state. The number of new listings to come on the market is up 19.8% in Boulder County, and up 21.3% in the City of Boulder. At the same time, the number of listings sold have increased 8.2% and 10% respectively, so the shortage of inventory has eased just a bit. Nevertheless, demand is still strong, fueling the continued rise of prices, and a very competitive seller’s market. These conditions are evident by looking at the average days on the market (in the 60s in most areas), and the sale price-to-list-price ratio (which is currently down to 99.2%). The increases in listings sold have been attributed to sales of attached dwellings (condominiums and townhomes). The number of single family home sales was essentially flat in both Boulder County and the City of Boulder. As prices continue to rise, and outpace the rise in incomes, affordability diminishes. Accordingly, the most active market segments are in the more affordable neighborhoods just outside Boulder (Louisville, Lafayette, Superior and Longmont), and in the more affordable property class of attached dwellings. The three Boulder County neighborhoods that experienced a decrease in the number of sales in the 1st quarter of this year are South Boulder, the Foothills communities and Erie (Boulder and Weld County). The Boulder Area Micro Market Report (MMR), prepared by LIV Sotheby’s International Realty, compares 2017 Q1 statistics (January through March), to that of 2016, for single family homes and attached dwellings in Boulder County. The average sales price of single family and attached dwellings combined rose 5.0% from the same period last year, resulting in an average price of $575,858.

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BOULDER COUNTY January through March

2016

New Listings

2017

% Change

1,191

1,427

19.8%

Sold Listings (All Properties)

758

820

8.2%

Sold Single Family

559

555

-0.7%

Sold Condo

199

265

33.2%

71

68

-4.2%

$548,384

$575,858

5.0%

100.2%

99.2%

-1.0%

$415,667,659

$472,203,532

13.6%

Average Days on Market Average Price % Sold Price to Original List Total Dollar Volume Sold

All Properties

During Q1 2017,

820

homes sold for an average of

$575,858

or, $472,203,532 total dollar volume sold.

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 QUARTER 1 2017 •COLORADOMICROREPORTS.COM


CITY OF BOULDER January through March

2016

2017

% Change

New Listings

451

547

21.3%

Sold Listings (All Properties)

280

308

10.0%

Sold Single Family

168

170

1.2%

Sold Condo

112

138

23.2%

Average Days on Market

66

69

4.5%

$719,012

$729,045

1.4%

100.4%

98.2%

-2.2%

Average Price % Sold Price to List Price

CENTRAL & HISTORIC BOULDER January through March

2016

2017

Average Price

$1,237,772

$1,258,613

1.7%

60

66

10.0%

$2,160,000

$2,450,000

13.4%

19

26

36.8%

100.0%

100.0%

0.0%

Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

36.8%

During Q1 2017, the number of properties sold in Central and Historic Boulder increased by 36.8% compared to Q1 2016.

Mapleton Hill, Whittier, Newlands, Green Meadows, Sunset Hill, Panorama Heights

DOWNTOWN BOULDER January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$521,877

$694,938

33.2%

65

60

-7.7%

$1,050,000

$2,187,500

108.3%

24

29

20.8%

101.0%

99.0%

-2.0%

coloradomicroreports.com


UNIVERSITY HILL & CHAUTAUQUA University Hill, located in southwest Boulder, is easily within walking distance of the famed Chautauqua Park, the University of Colorado, as well as shops and services. Chautauqua real estate is very convenient for buyers looking for property that offers an easy commute to the downtown core.

January through March Average Price

2016

$927,437

8.3%

47

59

25.5%

$1,829,000

$2,250,000

23.0%

16

21

31.3%

99.0%

97.0%

-2.0%

Properties Sold % Sold Price to List Price

% Change

$856,593

Average Days on Market Highest Price

2017

Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park

SOUTH BOULDER January through March Average Price

2016

$658,123

-7.3%

56

50

-10.7%

$3,100,000

$1,675,000

-46.0%

54

46

-14.8%

101.0%

98.0%

-3.0%

Properties Sold % Sold Price to List Price

% Change

$709,788

Average Days on Market Highest Price

2017

Devil’s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows

11.9%

The average price for East Boulder and Gunbarrel increased by 11.9% in Q1 2017 compared to Q1 2016.

EAST BOULDER & GUNBARREL January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$518,453

$580,379

11.9%

54

60

11.1%

$1,315,000

$2,550,000

93.9%

81

111

37.0%

101.0%

99.0%

-2.0%

Wonderland Hill,Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay’s Orchard, Moores

MICROMARKET REPORT | Boulder livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


NORTH BOULDER January through March Average Price

2016

$800,955

-3.0%

64

83

29.7%

$2,250,000

$2,200,000

-2.2%

52

56

7.7%

100.0%

100.0%

0.0%

Properties Sold % Sold Price to List Price

% Change

$825,356

Average Days on Market Highest Price

2017

Quiet residential streets give North Boulder a distinct neighborhood feeling, yet a growing retail and restaurant scene make NoBo (as it is called by locals), one of the best places to live in Boulder right now.

LOUISVILLE January through March Average Price

2016

$551,204

7.9%

50

59

18.0%

$884,328

$1,260,000

42.5%

37

59

59.5%

101.0%

100.0%

-1.0%

Properties Sold % Sold Price to List Price

% Change

$510,773

Average Days on Market Highest Price

2017

SUPERIOR January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$588,762

$567,078

-3.7%

39

35

-10.3%

$1,107,287

$1,087,242

-1.8%

30

35

16.7%

110.0%

107.0%

-2.7%

16.7%

The number of properties sold in Superior increased by 16.7% in Q1 2017 compared to Q1 2016.

coloradomicroreports.com


LAFAYETTE January through March Average Price

2016

$493,184

9.7%

82

65

-20.7%

$1,100,000

$1,465,000

33.2%

67

72

7.5%

101.0%

101.0%

0.0%

Properties Sold % Sold Price to List Price

10.6%

During Q1 2017, the average price in Erie and Southwest Weld County increased by 10.6% Q1 2016.

% Change

$449,672

Average Days on Market Highest Price

2017

ERIE/SOUTHWEST WELD COUNTY January through March Average Price

2016

$401,858

10.6%

70

70

0.0%

$1,008,000

$997,500

-1.0%

231

217

-6.1%

100.0%

99.0%

-1.0%

Properties Sold % Sold Price to List Price

% Change

$363,435

Average Days on Market Highest Price

2017

Frederick, Firestone, Dacono

LONGMONT January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$351,517

$384,303

9.3%

63

61

-3.2%

$950,000

$1,248,499

31.4%

233

254

9.0%

100.0%

100.0%

0.0%

MICROMARKET REPORT | Boulder livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


LYONS January through March Average Price

2016

$473,896

-10.9%

110

128

16.4%

$791,000

$805,391

1.8%

8

11

37.5%

98.0%

100.0%

2.0%

Properties Sold % Sold Price to List Price

% Change

$531,750

Average Days on Market Highest Price

2017

BOULDER COUNTY PLAINS January through March Average Price

2016

$783,284

9.1%

87

85

-2.3%

$2,750,000

$2,550,000

-7.3%

68

87

27.9%

98.0%

96.0%

-2.0%

Properties Sold % Sold Price to List Price

% Change

$717,836

Average Days on Market Highest Price

2017

Niwot, Hygiene, Sommerset Estates, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills

9.1%

The average price in the Eastern Boulder County Plains increased by 9.1% in Q1 2017 compared to Q1 2016.

FOOTHILLS COMMUNITIES January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$757,404

$788,358

4.1%

113

125

10.6%

$2,025,000

$1,459,750

-27.9%

25

18

-28.0%

96.0%

96.0%

0.0%

Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs

coloradomicroreports.com


5.4%

During Q1 2017, the percent sold price to list price in the Mountain and Canyon Communities increased by 5.4% compared to Q1 2016.

NUMBER OF DAYS OF SUNSHINE: 300

MOUNTAIN & CANYON COMMUNITIES January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2016

2017

% Change

$446,024

$466,434

4.6%

153

118

-22.9%

$3,000,000

$1,095,000

-63.5%

34

39

14.7%

93.0%

98.0%

5.4%

Nederland, Allenspark, Coal Creek Canyon, Golden Gate Canyon, Gilpin, Jefferson County

BOULDER COUNTY PARKS: 60

ACRES OF PRESERVED OPEN SPACE: 45,000

MICROMARKET REPORT | Boulder livsothebysrealty.com

QUARTER 1 2017 • COLORADOMICROREPORTS.COM


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.


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