MICROMARKET REPORT |
Boulder • Quarter 1 2018
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: 1459 White Hawk Ranch Drive, Boulder
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BOULDER market update Boulder County real estate continues to be one of the best performing investments, in addition to providing one of the most attractive lifestyles in the country. Strong employment, and net migration has created a market where demand seems to constantly outpace supply, resulting in a fastmoving and competitive “seller’s market” in most areas. County-wide, there were 883 sold listings (all properties) January through March 2018, which is up 6.5% year-over-year. Total dollar volume sold was up a signficiant 22.7%, and stood at $583,934,787 at the end of Quarter 1 2018. The average price was up 15.2%, to $661,308, and several micro markets saw a similar increase in average sold price as well as highest price sold. LIV Sotheby’s International Realty was credited with having the highest sale of an attached residence in Boulder County history; 1155 Canyon Boulevard #406 sold for a record-breaking $5,500,000 in March 2018. “There were modest increases in transaction volume, while average sales price increased 15.2% for all property types in Boulder County,” said David Carner, managing broker of LIV Sotheby’s International Realty’s Boulder offices. “Because of some notable high-end sales this first quarter, the average price comparison is a little skewed, and should not be interpreted as an average appreciation rate. That number is better reflected in in the Federal government’s estimation of appreciation in their quarterly price index (source: FHFA.gov).. The most recent data for the Boulder metropolitan statistical area indicates an annual appreciation rate of 9.3%. The last quarter of 2017 came in at 1.86%, so the trend is that the appreciation rate will be lower (still increasing, but at a decreasing rate). Ultimately, appreciation is driven by an undersupplied market with excess demand, and this is what we are still seeing.”
BOULDER COUNTY
January through March New Listings
2017
2018
% Change
1,444
1,309
-9.3%
Sold Listings (All Properties)
829
883
6.5%
Sold Single Family
560
600
7.1%
Sold Condo
269
283
5.2%
67
68
1.5%
$574,282
$661,308
15.2%
99.3%
98.6%
-0.7%
$476,079,579
$583,934,787
22.7%
Average Days on Market Average Price % Sold Price to Original List Price Total Dollar Volume Sold
All Properties
Overall, the Boulder real estate market remains one of the most desirable places to live in the country. The Boulder metropolitan statistical area ranked 57th of 253 markets by the Federal Housing Finance Authority in their most recent quarterly report, further exemlifying the attractive lifestyle that Boulder offers buyers.
livsothebysrealty.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.
MICROMARKET REPORT | Boulder QUARTER 1 2018 • COLORADOMICROREPORTS.COM
CITY OF BOULDER January through March
2017
2018
% Change
New Listings
555
539
-2.9%
Sold Listings (All Properties)
312
341
9.3%
Sold Single Family
172
195
13.4%
Sold Condo
140
146
4.3%
69
65
-5.8%
$723,916
$893,350
23.4%
98.2%
97.9%
-0.3%
Average Days on Market Average Price % Sold Price to List Price
CENTRAL & HISTORIC BOULDER January through March
2017
Average Price
$1,258,613
$1,485,204
18.0%
66
72
9.1%
$2,450,000
$5,200,000
112.2%
26
33
26.9%
100.0%
98.0%
-2.0%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Historic Boulder is famed for its pedestrian-friendly mall, lined with the city’s acclaimed restaurants, bookstores, boutiques, sidewalk cafes, and plaques that highlight the area’s history.
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
2017
2018
% Change
$694,938
$888,958
27.9%
60
86
43.3%
$2,187,500
$5,500,000
151.4%
29
23
-20.7%
99.0%
98.0%
-1.0%
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85.1%
The average price for University Hill & Chautauqua increased by 85.1% January through March 2018 compared to that of 2017.
UNIVERSITY HILL & CHAUTAUQUA January through March Average Price
2017
$1,716,557
85.1%
59
52
-11.9%
$2,250,000
$4,300,000
91.1%
21
20
-4.8%
97.0%
99.0%
2.1%
Properties Sold % Sold Price to List Price
% Change
$927,437
Average Days on Market Highest Price
2018
Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park
SOUTH BOULDER January through March Average Price
2017
$709,001
7.7%
50
54
8.0%
$1,675,000
$2,220,000
32.5%
46
53
15.2%
98.0%
98.0%
0.0%
Properties Sold % Sold Price to List Price
% Change
$658,123
Average Days on Market Highest Price
2018
Devil’s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows
12.7%
The average price for East Boulder and Gunbarrel increased by 12.7% January through March 2018 compared to that of 2017.
EAST BOULDER & GUNBARREL January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$580,379
$654,283
12.7%
60
57
-5.0%
$2,550,000
$3,000,000
17.6%
111
143
28.8%
99.0%
99.0%
0.0%
Wonderland Hill,Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay’s Orchard, Moores
MICROMARKET REPORT | Boulder livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
NORTH BOULDER January through March
2017
2018
Average Price
$800,955
$1,031,431
28.8%
83
71
-14.5%
$2,200,000
$2,500,000
13.6%
56
49
-12.5%
100.0%
99.0%
-1.0%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
LOUISVILLE January through March Average Price
2017
$651,835
18.3%
59
59
0.0%
$1,260,000
$1,400,000
11.1%
59
41
-30.5%
100.0%
102.0%
2.0%
Properties Sold % Sold Price to List Price
% Change
$551,204
Average Days on Market Highest Price
2018
Northern Boulder boasts more than 220+ artists and creative industries along its popular Broadway Street.
18.3%
The average price in Louisville increased by 18.3% January through March 2018 compared to that of 2017.
SUPERIOR January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$567,078
$496,506
-12.4%
44
96
118.2%
$1,087,242
$915,000
-15.8%
35
40
14.3%
107.0%
100.0%
-6.5%
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LAFAYETTE January through March Average Price
2017
$536,940
8.9%
65
43
-33.8%
$1,465,000
$1,150,000
-21.5%
72
74
2.8%
101.0%
100.0%
-1.0%
Properties Sold % Sold Price to List Price
8.8%
January through March 2018, the average price in Erie and Southwest Weld County increased by 8.8% compared to that 2017.
% Change
$493,184
Average Days on Market Highest Price
2018
ERIE/SOUTHWEST WELD COUNTY January through March Average Price
2017
$437,210
8.8%
70
62
-11.4%
$997,500
$1,150,000
15.3%
217
250
15.2%
99.0%
99.0%
0.0%
Properties Sold % Sold Price to List Price
% Change
$401,858
Average Days on Market Highest Price
2018
Frederick, Firestone, Dacono
LONGMONT January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$384,303
$421,694
9.7%
61
65
6.6%
$1,248,499
$890,000
-28.7%
254
279
9.8%
100.0%
100.0%
0.0%
MICROMARKET REPORT | Boulder livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
LYONS January through March Average Price
2017
$618,272
30.5%
128
121
-5.5%
$805,391
$815,000
1.2%
11
9
-18.2%
100.0%
98.0%
-2.0%
Properties Sold % Sold Price to List Price
% Change
$473,896
Average Days on Market Highest Price
2018
BOULDER COUNTY PLAINS January through March Average Price
2017
$852,650
8.9%
85
71
-16.5%
$2,550,000
$3,000,000
17.6%
87
85
-2.3%
96.0%
97.0%
1.0%
Properties Sold % Sold Price to List Price
% Change
$783,284
Average Days on Market Highest Price
2018
Niwot, Hygiene, Sommerset Estates, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
Situated at the intersection of State Highway 7 and U.S. Highway 36, Lyons is often referred to as “The Double Gateway to the Rockies”.
8.9%
The average price in the Eastern Boulder County Plains increased by 8.9% in January through March 2018 compared to that of 2017.
FOOTHILLS COMMUNITIES January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$788,358
$913,729
15.9%
125
111
-11.2%
$1,459,750
$3,650,000
150.0%
18
22
22.2%
96.0%
96.0%
0.0%
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
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9.5%
January through March 2018, the average price in the Mountain and Canyon Communities increased by 9.5% compared to that of 2017.
MOUNTAIN & CANYON COMMUNITIES January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
2018
% Change
$466,434
$510,778
9.5%
118
124
5.1%
$1,095,000
$1,240,000
13.2%
39
41
5.1%
98.0%
97.0%
-1.0%
Nederland, Allenspark, Coal Creek Canyon, Golden Gate Canyon, Gilpin, Jefferson County
NUMBER OF DAYS OF SUNSHINE: 300
BOULDER COUNTY PARKS: 60
ACRES OF PRESERVED OPEN SPACE: 45,000
MICROMARKET REPORT | Boulder livsothebysrealty.com
QUARTER 1 2018 • 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.