Boulder Valley Micro Market Report | Quarter 1, 2022

QUARTER 1 2022

Micro Market Report BOULDER

1044 White Hawk Ranch Drive

333 - 375 Bellevue Drive

Boulder

MARKET UPDATE

Just north of Denver, the Boulder County community has something for everyone. Here, hundreds of miles of hiking and biking trails offer easy access to some of the Front Range’s most beautiful natural spaces while the community’s business, arts, and entertainment scene provide ample opportunity for creating the life you love every day. For these reasons, the area has been a long-time favorite destination for buying and selling homes in Colorado.

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 March of 2022 and compares them to the same period in 2021. In comparison to the real estate boom that was observed here during the same period last year, Boulder County saw a 20.8% decrease in the number of listings sold. The average sold price for homes in this community was $980,833 through March. Those listings sold spent an average of 57 days on the market – a 12.3% decrease from Q1 of 2021.

While most neighborhoods within the Boulder County community saw slight decreases in total property sales as well, North Boulder remained steady. Two miles north of Downtown Boulder lies North Boulder (commonly referred to as NoBo), a quiet residential neighborhood with parks, trails, and a growing retail and restaurant scene. Here there were an impressive 69 homes sold during Q1 of this year. The average price of homes in this neighborhood appreciated by 2.6% to reach $1,081,301.

The average price for sold homes in the popular University Hill and Chautauqua neighborhood remained the same in Q1 of 2022 as it did in Q1 of 2021. Homes in this neighborhood, which is situated at the base of the famous Flatirons, sold for an average price of $1,616,360. In Downtown Boulder, listings have appreciated by 26.1% to bring the average sale

price to $1,556,190 – a significant increase from the same time just one year ago.

Days on market is an important indicator that shows how quickly homes are selling and can often reflect the demand for real estate in a given area. In Downtown Boulder, the average days on market decreased by 37.5%, dipping from 16 days down to an average of 10 days on market – the shortest average time within the Boulder County community. The Foothills Communities, which includes Pinebrook Hills, Boulder Heights, Lake of Pines, Jamestown, and Eldorado Springs, saw a 24.1% decrease in the average days on market. Homes in these neighborhoods are selling within an average of 60 days. This slowing pace in the Foothills market allows buyers to find their dream homes on a less hasty timeline, making the buying process more enjoyable and often yielding them better results.

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.

BOULDER COUNTY January through March

2021

2022

% Change

New Listings

1,116

973

-12.8%

Sold Listings (All Properties)

937

742

-20.8%

Sold Single Family

573

466

-18.7%

Sold Condos

311

246

-20.9%

Average Days on Market

65

57

-12.3%

$823,664

$980,833

19.1%

99.83%

103.30%

3.5%

$771,772,762

$727,778,009

-5.7%

Average Price % Sold Price to List Price Total Sold Sales Volume

Counties: Boulder

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.

coloradomicroreports.com

BOULDER

NEIGHBORHOODS 1.

Arvada

5. Downtown Boulder

9. Lafayette

14. North Boulder

2. Boulder County Plains

6. East Boulder & Gunbarrel

10. Longmont

15. South Boulder

3. Broomfield

7.

Erie/Southwest

11. Louisville

16. Superior

Weld County

12. Lyons

17. University Hill &

4. Central Boulder & Historic District

8. Foothills Communities

13. Mountain & Canyon Communities

Chautauqua 18. Westminster

12

8

10

14

2

7 6

13

5

4

17

15

1 16 18 11

9 3

MICRO MARKET REPORT | Boulder livsothebysrealty.com

JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM

BOULDER (CITY) ARVADA BOULDER COUNTY PLAINS

64.6%

2021

2022

% Change

New Listings

452

414

-8.4%

Sold Listings (All Properties)

412

327

-20.6%

Sold Single Family

204

161

-21.1%

The average home price in Boulder

Sold Condos

186

151

-18.8%

increased by 64.6% in the first quarter

Average Days on Market

76

57

-25.0%

of 2022 compared to that of 2021.

Average Price

$479,295

$789,098

64.6%

% Sold Price to List Price

102.3%

105.6%

3.2%

January through March

2021

2022

% Change

$570,605

$610,893

7.1%

34

111

226.5%

$1,100,000

$1,043,546

-5.1%

36

32

-11.1%

102.7%

103.4%

0.7%

$20,541,766

$19,548,588

-4.8%

Northwest of Denver, Arvada holds the spot as Colorado’s eighth largest city, while still boasting small-town charm. Popular attractions and amenities include the Arvada Center, Apex Center, Olde Town, and 125 miles of hiking, biking and horseback riding trails.

January through March

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2021

2022

% Change

$705,773

$838,239

18.8%

63

40

-36.5%

$6,600,000

$8,515,000

29.0%

364

280

-23.1%

98.7%

102.2%

3.5%

$256,901,369

$234,706,881

-8.6%

Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

% Change

$654,829

$686,581

4.8%

48

27

-43.8%

$1,850,000

$1,795,000

-3.0%

73

59

-19.2%

101.7%

104.2%

2.5%

$47,802,527

$40,508,255

-15.3%

2021

2022

% Change

$1,465,812

$1,558,757

6.3%

91

86

-5.5%

$4,950,000

$3,920,000

-20.8%

64

60

-6.3%

99.4%

102.6%

3.3%

$93,811,986

$93,525,393

-0.3%

2021

2022

% Change

$1,234,473

$1,556,190

26.1%

97

85

-12.4%

$6,200,000

$3,800,000

-38.7%

16

10

-37.5%

95.5%

97.8%

2.4%

$19,751,567

$15,561,900

-21.2%

Stretching across a handful of smaller neighborhoods, Central & Historic District is an expansive area. Residents of this neighborhood enjoy the peace and serenity of its tree-lined streets and convenient access to Pearl Street Mall.

DOWNTOWN BOULDER

January through March

2022

CENTRAL & HISTORIC DISTRICT

January through March

2021

BROOMFIELD

January through March

The average home price in East Boulder & Gunbarrel increased by 36.9% in the first quarter of 2022 compared to that of 2021.

FOOTHILLS COMMUNITIES

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

ERIE/SOUTHWEST WELD COUNTY

EAST BOULDER & GUNBARREL

36.9%

January through March

January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2021

2022

% Change

$692,361

$947,701

36.9%

65

46

-29.2%

$3,222,983

$4,300,000

33.4%

152

119

-21.7%

100.0%

105.1%

5.1%

$105,238,876

$112,776,374

7.2%

2021

2022

% Change

$547,085

$642,855

17.5%

49

41

-16.3%

$1,970,000

$2,300,000

16.8%

188

170

-9.6%

100.9%

102.8%

1.9%

$102,851,968

$109,285,318

6.3%

Erie, Frederick, Firestone, Dacono

The Foothills Communities are nestled against the backdrop of Boulder open space where the plains meet the mountains. Larger properties are common in these areas, and many have direct access to open space and trails.

January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2021

2022

% Change

$1,161,169

$1,308,898

12.7%

79

60

-24.1%

$6,450,000

$5,590,000

-13.3%

331

256

-22.7%

99.3%

102.2%

2.9%

$384,346,824

$335,077,835

-12.8%

Pine Brook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

January through March

Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

% Change

$610,950

$791,718

29.6%

58

61

5.2%

$1,300,000

$3,895,000

199.6%

87

63

-27.6%

102.3%

106.1%

3.7%

$53,152,617

$49,878,220

-6.2%

2021

2022

% Change

$604,170

$713,042

18.0%

50

35

-30.0%

$6,600,000

$8,515,000

29.0%

310

236

-23.9%

The highest price in Longmont increased by

99.1%

102.5%

3.4%

29.0% in the first quarter of 2022 compared

$187,292,575

$168,277,811

-10.2%

2021

2022

% Change

$767,692

$967,876

26.1%

43

38

-11.6%

$2,400,000

$2,350,000

-2.1%

43

38

-11.6%

102.3%

108.2%

5.8%

$33,010,751

$36,779,275

11.4%

In Lafayette, you can find plenty of greenbelts, parks, open spaces, and bikeways, allowing residents to enjoy the beauty of Colorado and the Rocky Mountains.

29.0% to that of 2021.

LOUISVILLE

January through March

2022

LONGMONT

Average Price

2021

LAFAYETTE

January through March

LYONS

41.1% The average home price in Lyons

January through March Average Price Average Days on Market Highest Price

increased by 41.1% in the first quarter of

Properties Sold

2022 compared to that of 2021.

% Sold Price to List Price

NORTH BOULDER

MOUNTAIN & CANYON COMMUNITIES

Total Sold Sales Volume

January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2021

2022

% Change

$680,875

$960,538

41.1%

61

55

-9.8%

$1,250,000

$2,825,000

126.0%

16

13

-18.8%

100.6%

101.8%

1.2%

$10,894,000

$12,487,000

14.6%

2021

2022

% Change

$454,567

$661,127

45.4%

133

70

-47.4%

$2,035,000

$2,550,000

25.3%

32

27

-15.6%

97.8%

98.0%

0.2%

$14,546,130

$17,850,420

22.7%

Nederland, Allenspark, Gilpin County

35.7%

January through March Average Price Average Days on Market Highest Price

The average days on market in North

Properties Sold

Boulder decreased by 35.7% in the first

% Sold Price to List Price

quarter of 2022 compared to that of 2021.

Total Sold Sales Volume

2021

2022

% Change

$1,053,581

$1,081,301

2.6%

70

45

-35.7%

$4,200,000

$5,590,000

33.1%

69

69

0.0%

98.7%

103.9%

5.3%

$72,697,057

$74,609,750

2.6%

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

January through March

Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

% Change

$1,661,431

$1,691,874

1.8%

78

51

-34.6%

$3,200,000

$3,960,000

23.8%

31

19

-38.7%

99.0%

99.6%

0.6%

$51,504,371

$32,145,597

-37.6%

2021

2022

% Change

$739,128

$838,417

13.4%

49

25

-49.0%

$1,198,562

$1,500,000

25.1%

28

25

-10.7%

104.7%

109.3%

4.4%

decreased by 49.0% in the first quarter

$20,695,576

$20,960,433

1.3%

of 2022 compared to that of 2021.

2021

2022

% Change

$1,615,762

$1,616,360

0.0%

77

44

-42.9%

$3,200,000

$3,960,000

23.8%

32

20

-37.5%

99.0%

99.6%

0.6%

$51,704,371

$32,327,197

-37.5%

49.0% The average price in Superior

UNIVERSITY HILL & CHAUTAUQUA

January through March

2022

SUPERIOR

Average Price

Residents love South Boulder for the generous open space, hiking trails, and family-friendly atmosphere.

South Boulder includes neighborhoods like Table Mesa, Devil’s Thumb, and Shanahan Ridge.

2021

SOUTH BOULDER

January through March

WESTMINSTER

January through March Average Price

2021

2022

% Change

$530,139

$578,072

9.0%

40

20

-50.0%

$1,807,500

$991,000

-45.2%

52

24

-53.8%

103.3%

105.9%

2.5%

$27,567,230

$13,873,727

-49.7%

Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

WHY COLORADO?

04 07 28 300 350+ NATIONAL PARKS

MOUNTAIN RANGES

AVG DAYS OF SUNSHINE

SKI AREAS & RESORTS

CRAFT BREWERIES

MICRO MARKET REPORT | Boulder JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM