4540 Palmer Court 2135 11th Street BOULDER Micro Market Report YEAR-END 2022
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 special communities within it have seen strong real estate activity because of the unique lifestyle the area provides.
2022 is now over and what a year it was. In the back half of 2022, the real estate market showed strong signs of normalizing after the 2021 COVID-driven boom. The first half of the year saw incredibly high buyer demand, and it felt similar to 2021 market. The market started to shift when mortgage interest rates started to rise. This was intended to tamp down buyer demand, but because of the limited inventory in Boulder County, listings decreased by 31% in the last quarter of 2022 in comparison to that of 2021, there were fewer transactions, and but the remaining demand resulted in homes selling quickly,
leading to a decrease in the number of days on market from 48 days in Q4 2021 to 45 in Q4 2022.
The media and many “experts” anticipated that home prices would fall in, but that hasn’t been the case in highly sought out areas like Boulder. To further understand the Boulder County market, one must look at Boulder’s micro markets because there are many nuances within a small geographic region. In Q4, 2022 Downtown Boulder saw a 53.8% average price increase vs Q4 2021, and the city of Superior saw a 3.6% decrease for the same time period.
We recognize each neighborhood is unique and no two regions respond to market shifts the same way. LIV Sotheby’s International Realty is proud to present our yearend Micro Market Report, representing the metrics of many key and beloved Boulder neighborhoods.
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.
Average Sales Price (All Properties)
Boulder County
coloradomicroreports.com
Based on Information from IRES, LLC and REColorado for the period January 1st, 2022 - December 31th, 2022. 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.
January through December 2021 2022 % Change New Listings 5,991 4,113 -31.3% Sold Listings (All Properties) 4,660 4,597 -1.4% Sold Single Family 3,251 3,017 -7.2% Sold Condos 1,406 1,347 -4.2% Average Days on Market 48 45 -6.3% Average Price $893,089 $934,915 4.7% % Sold Price to List Price 100.0% 101.2% 1.2% Total Sold Sales Volume $4,161,793,289 $4,297,805,315 3.3%
Boulder MARKET UPDATE
MICRO MARKET REPORT | Boulder JANUARY - DECEMBER 2022 • COLORADOMICROREPORTS.COM livsothebysrealty.com BOULDER NEIGHBORHOODS
1. Arvada
2. Boulder County Plains
3. Broomfield
4. Central Boulder & Historic District
5. Downtown Boulder
6. East Boulder & Gunbarrel
7. Erie / Southwest
Weld County
8. Foothills Communities
9. Lafayette
10. Longmont
11. Louisville
12. Lyons
13. Mountain & Canyon Communities North
14.
Boulder
Westminster 7 5 2 1 8 9 4 6 3 10 11 12 13 14 15 18 17 16
15. South Boulder 16. Superior 17. University Hill & Chautauqua 18.
8.1%
The average home price in Boulder increased by 8.1% in 2022 compared to that of 2021.
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.
BOULDER (CITY) ARVADA BOULDER COUNTY PLAINS Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates January through December 2021 2022 % Change Average Price $758,455 $778,720 2.7% Average Days on Market 43 39 -9.3% Highest Price $8,150,000 $10,000,000 22.7% Properties Sold 1,759 1,808 2.8% % Sold Price to List Price 101.6% 101.3% -0.3% Total Sold Sales Volume $1,334,121,561 $1,407,925,990 5.5% January through December 2021 2022 % Change New Listings 2,311 1,467 -36.5% Sold Listings (All Properties) 1,907 1,641 -13.9% Sold Single Family 1,112 880 -20.9% Sold Condos 795 692 -13.0% Average Days on Market 57 53 -7.0% Average Price $1,155,909 $1,249,479 8.1% % Sold Price to List Price 99.8% 100.8% 1.0%
January through December 2021 2022 % Change Average Price $577,450 $660,901 14.5% Average Days on Market 30 20 -33.3% Highest Price $3,025,000 $2,680,000 -11.4% Properties Sold 2,847 2,505 -12.0% % Sold Price to List Price 103.4% 102.0% -1.4% Total Sold Sales Volume $1,644,001,179 $1,655,556,659 0.7%
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.
50.8%
The total sales volume in Downtown Boulder increased by 50.8% in 2022 compared to that of 2021.
January through December 2021 2022 % Change Average Price $1,212,135 $1,864,314 53.8% Average Days on Market 58 44 -24.1% Highest Price $4,000,000 $4,100,000 2.5% Properties Sold 51 50 -2.0% % Sold Price to List Price 96.4% 99.5% 3.2% Total Sold Sales Volume $61,818,870 $93,215,713 50.8% January through December 2021 2022 % Change Average Price $651,301 $704,230 8.1% Average Days on Market 34 21 -38.2% Highest Price $2,720,000 $3,925,000 44.3% Properties Sold 1,179 1,280 8.6% % Sold Price to List Price 102.7% 101.0% -1.7% Total Sold Sales Volume $767,883,952 $901,413,892 17.4% January through December 2021 2022 % Change Average Price $1,559,119 $1,499,088 -3.9% Average Days on Market 76 76 0.0% Highest Price $7,150,000 $7,500,000 4.9% Properties Sold 301 265 -12.0% % Sold Price to List Price 98.5% 99.8% 1.3% Total Sold Sales Volume $469,294,702 $397,258,282 -15.3% DOWNTOWN BOULDER CENTRAL & HISTORIC DISTRICT BROOMFIELD
The average home price in East Boulder & Gunbarrel increased by 21.5% in 2022 compared to that of 2021.
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.
EAST BOULDER & GUNBARREL ERIE/SOUTHWEST WELD COUNTY FOOTHILLS COMMUNITIES Pine Brook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs January through December 2021 2022 % Change Average Price $1,274,996 $1,335,485 4.7% Average Days on Market 58 58 0.0% Highest Price $7,900,000 $10,000,000 26.6% Properties Sold 1,494 1,290 -13.7% % Sold Price to List Price 100.2% 100.4% 0.2% Total Sold Sales Volume $1,904,841 $1,722,775,131 -9.6% January through December 2021 2022 % Change Average Price $788,294 $957,845 21.5% Average Days on Market 51 39 -23.5% Highest Price $5,750,000 $5,900,000 2.6% Properties Sold 844 565 -33.1% % Sold Price to List Price 102.6% 101.6% -1.0% Total Sold Sales Volume $665,319,819 $541,182,410 -18.7% Erie, Frederick, Firestone, Dacono January through December 2021 2022 % Change Average Price $560,446 $653,252 16.6% Average Days on Market 34 31 -8.8% Highest Price $2,100,000 $4,800,000 128.6% Properties Sold 1,816 1,617 -11.0% % Sold Price to List Price 102.3% 101.3% -1.0% Total Sold Sales Volume $1,017,769,470 $1,056,308,247 3.8%
21.5%
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.
22.7%
The highest sale price in Longmont increased by 22.7% in 2022 compared to that of 2021.
January through December 2021 2022 % Change Average Price $824,140 $902,957 9.6% Average Days on Market 41 38 -7.3% Highest Price $2,700,000 $2,800,000 3.7% Properties Sold 246 274 11.4% % Sold Price to List Price 103.4% 102.9% -0.5% Total Sold Sales Volume $202,738,546 $247,410,247 22.0% January through December 2021 2022 % Change Average Price $710,884 $843,632 18.7% Average Days on Market 45 42 -6.7% Highest Price $3,300,000 $3,895,000 18.0% Properties Sold 434 446 2.8% % Sold Price to List Price 103.4% 102.2% -1.2% Total Sold Sales Volume $308,523,612 $376,259,740 22.0% January through December 2021 2022 % Change Average Price $627,488 $669,268 6.7% Average Days on Market 38 37 -2.6% Highest Price $8,150,000 $10,000,000 22.7% Properties Sold 1,976 1,481 -25.1% % Sold Price to List Price 102.1% 101.8% -0.3% Total Sold Sales Volume $1,239,915,992 $991,186,081 -20.1% LOUISVILLE LONGMONT LAFAYETTE
14.2%
The average home price in Lyons increased by 14.2% in 2022 compared to that of 2021.
26.6%
The highest sale price in North Boulder increased by 26.6% in 2022 compared to that of 2021.
LYONS MOUNTAIN & CANYON COMMUNITIES NORTH BOULDER January through December 2021 2022 % Change Average Price $729,247 $832,648 14.2% Average Days on Market 63 63 0.0% Highest Price $2,400,000 $2,825,000 17.7% Properties Sold 139 119 -14.4% % Sold Price to List Price 100.5% 100.6% 0.1% Total Sold Sales Volume $101,365,293 $99,085,171 -2.2%
Nederland, Allenspark, Gilpin County January through December 2021 2022 % Change Average Price $527,713 $544,389 3.2% Average Days on Market 82 59 -28.0% Highest Price $12,000,000 $3,150,000 -73.8% Properties Sold 384 304 -20.8% % Sold Price to List Price 98.7% 97.9% -0.8% Total Sold Sales Volume $202,641,796 $165,494,181 -18.3% January through December 2021 2022 % Change Average Price $1,044,571 $1,135,861 8.7% Average Days on Market 49 44 -10.2% Highest Price $7,900,000 $10,000,000 26.6% Properties Sold 423 329 -22.2% % Sold Price to List Price 100.5% 102.1% 1.6% Total Sold Sales Volume $441,853,328 $373,698,218 -15.4%
Residents love South Boulder for the generous open space, hiking trails, and family-friendly atmosphere. South Boulder includes neighborhoods like Table Mesa,
and Shanahan Ridge.
43.5%
The number of homes sold in Superior increased by 43.5% in 2022 compared to that of 2021.
January through December 2021 2022 % Change Average Price $1,698,452 $1,886,085 11.0% Average Days on Market 64 51 -20.3% Highest Price $4,400,000 $6,875,000 56.3% Properties Sold 117 102 -12.8% % Sold Price to List Price 99.3% 98.2% -1.2% Total Sold Sales Volume $198,718,896 $192,380,687 -3.2% January through December 2021 2022 % Change Average Price $1,018,289 $1,141,008 12.1% Average Days on Market 43 35 -18.6% Highest Price $3,900,000 $3,750,000 -3.8% Properties Sold 317 249 -21.5% % Sold Price to List Price 103.2% 102.5% -0.7% Total Sold Sales Volume $322,797,667 $284,110,870 -12.0% January through December 2021 2022 % Change Average Price $858,345 $827,057 -3.6% Average Days on Market 43 42 -2.3% Highest Price $1,740,000 $1,625,000 -6.6% Properties Sold 154 221 43.5% % Sold Price to List Price 105.3% 102.6% -2.6% Total Sold Sales Volume $132,185,084 $182,779,641 38.3% UNIVERSITY HILL & CHAUTAUQUA SUPERIOR SOUTH BOULDER
Devil’s Thumb,
WESTMINSTER January through December 2021 2022 % Change Average Price $509,128 $569,380 11.8% Average Days on Market 21 16 -23.8% Highest Price $2,570,000 $3,000,000 16.7% Properties Sold 1,965 1,846 -6.1% % Sold Price to List Price 103.7% 102.6% -1.1% Total Sold Sales Volume $1,000,436,677 $1,051,076,245 5.1%
04 07 300 28 350+ NATIONAL PARKS MOUNTAIN RANGES AVG DAYS OF SUNSHINE SKI AREAS & RESORTS CRAFT BREWERIES
COLORADO?
WHY
MICRO MARKET REPORT | Boulder JANUARY - DECEMBER 2022 • COLORADOMICROREPORTS.COM
