Boulder MARKET UPDATE

Boulder County is filled with communities that offer a variety of lifestyles and opportunities for homebuyers to create the life they love. As a national leader in sustainability efforts and bountiful recreation options, Boulder County attracts those looking for a combination of exciting city luxuries and proximity to nature that few other areas offer. Over the past few years, Boulder County and the unique communities within it have seen strong real estate activity because of the unique lifestyle the area provides.

Boulder’s real estate market is starting off 2023 on a positive note and outperforming many conservative expectations. The number of homes sold in Boulder County slightly decreased in comparison to 2022 Through March of this year, there have been 736 homes sold— down 0.8% from 2022. However, low inventory coupled with continued buyer demand resulted in housing prices remaining strong and a decrease in the days on market. After a slow end of 2022, momentum is certainly building in Denver’s real estate market.

Rising interest rates means that buyers have less purchasing power. Sellers have come down ever so slightly in pricing, but limited inventory and high demand still gives buyers a lot of control in this market. During the first quarter of the year, the average price for a singlefamily home in Boulder County is $924,021—down 5.8% from 2022.

Boulder’s individual neighborhoods vary in market trends, as there are many distinctions even within this small geographic region. We are seeing a wide variance in buyer demand for certain neighborhoods, subdivisions and even buildings. In the first quarter of 2023, North Boulder saw a 8.1% average price increase compared to 2022, and the South Boulder neighborhood saw a —30.9% decrease for the same time period.

We recognize each locality is unique and no two regions respond to market shifts the same way. To aid in presenting an accurate picture of each of the areas that make up Boulder County, LIV Sotheby’s International Realty is proud to present our Micro-Market Report, representing the metrics of many key and beloved neighborhoods.

Boulder County

61.4%

The average home price in Boulder increased by 61.4% in the first quarter of 2023 compared to that of 2022.

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.

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.

32.8%

The average home sale price in downtown Boulder increased by 32.8% in the first quarter of 2023 compared to that of 2022.

14.0%

The highest home sale price in East Boulder & Gunbarrel increased by 14.0% in the first quarter of 2023 compared to that of 2022.

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.

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.

5.9%

The number of properties sold in Longmont increased by 5.9% in the first quarter of 2023 compared to that of 2022.

176.4%

The average number of days on market in Lyons increased by 176.4% in the first quarter of 2023 compared to that of 2022.

8.1%

The average home sale price in North Boulder increased by 8.1% in the first quarter of 2023 compared to that of 2022.

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.

48.0%

The number of homes sold in Superior increased by 48.0% in the first quarter of 2023 compared to that of 2022.