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
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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
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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.