MICROMARKET REPORT |
Boulder • 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: 7321 Flagstaff Road, 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. Double digit appreciation rates were the norm in 2015 and 2016, but in 2017, there were some signs that the rise was slowing. County-wide, there were 4,700 sold listings (all properties) which was up 9.2% from last year. Total dollar volume sold was up 10.2%, and stood at $2,831,136,763 at year’s end. The average price was up only 3.9%, to $602,498, and several micro markets saw a decrease in average sold price as well as highest price sold. These are imperfect indicators of appreciation because of the small sample size, but other indicators lend credence to the theory that the rapid gains of the past two years have started to wane, as evidenced in Boulder’s average list price to sales price ratio, which is down to 98.6% The Boulder Area MMR indicates that certain micro markets have performed better that others. Interestingly, both downtown Boulder and North Boulder are down in average price and highest price sold. These markets have led the pack in the past. Now the markets with the greatest gains in average price and overall sales volume are Louisville, Lafayette, Longmont and the communities of eastern Boulder County. All hovered around increases of about 10% in average sales price. The Foothills Communities saw a decrease in average sales price of 11.3%, and the highest price sale dropped to less than half of the highest sale of 2016. Similarly, the January through December 2016 2017 % Change Mountain and Canyon Communities saw decreases in highest sales price, New Listings 5,594 6,149 9.9% and fewer sales. This “dual market” scenario shows that there are distinct preferences in the marketplace that are driven by the convenience and Sold Listings (All Properties) 4,304 4,700 9.2% amenities offered by the more urban and suburban properties of eastern Sold Single Family 3,175 3,390 6.8% Boulder County, rather than the views, privacy and space of the more rural Sold Condo 1,255 1,310 4.4% and dispersed mountain communities of western Boulder County.
BOULDER COUNTY
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, with an 8.76% appreciation rate for the last twelve months, and 58.29% for the last five years.
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Average Days on Market Average Price % Sold Price to Original List Total Dollar Volume Sold
63
59
-6.3%
$579,786
$602,498
3.9%
99.9%
98.6%
-1.3%
$2,568,451,935
$2,831,136,763
10.2%
All Properties
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 2018 • COLORADOMICROREPORTS.COM
CITY OF BOULDER January through December
2016
2017
% Change
New Listings
2,100
2,319
10.4%
Sold Listings (All Properties)
1,561
1,644
5.3%
911
978
7.4%
650
666
2.5%
62
63
1.6%
$790,702
$798,027
0.9%
99.5%
97.7%
-1.8%
Sold Single Family Sold Condo Average Days on Market Average Price % Sold Price to List Price
CENTRAL & HISTORIC BOULDER January through December
2016
2017
Average Price
$1,387,176
$1,414,570
2.0%
68
68
0.0%
$7,755,285
$6,700,000
-13.6%
135
167
23.7%
98.7%
98.0%
-0.7%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% 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 December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$626,369
$567,590
-9.4%
58
51
-12.1%
$2,875,000
$2,187,500
-23.9%
159
132
-17.0%
99.3%
99.0%
-0.3%
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33.3%
The number of properties sold in University Hill & Chautauqua increased by 33.3% January through December 2017 compared to that of 2016.
UNIVERSITY HILL & CHAUTAUQUA January through December
2016
2017
Average Price
$1,078,928
$1,131,694
4.9%
61
74
21.3%
$3,400,000
$4,125,000
21.3%
72
96
33.3%
97.9%
97.0%
-0.9%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park
SOUTH BOULDER January through December Average Price
2016
$694,676
1.5%
49
51
4.1%
$3,100,000
$4,100,000
32.3%
278
292
5.0%
100.8%
99.0%
-1.8%
Properties Sold % Sold Price to List Price
% Change
$684,172
Average Days on Market Highest Price
2017
Devil’s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows
13.7%
The average price for East Boulder and Gunbarrel increased by 13.7% January through December 2017 compared to that of 2016.
EAST BOULDER & GUNBARREL January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$566,948
$644,501
13.7%
57
58
1.8%
$2,670,000
$2,782,505
4.2%
564
633
12.2%
99.6%
98.2%
-1.4%
Wonderland Hill,Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay’s Orchard, Moores
MICROMARKET REPORT | Boulder livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
NORTH BOULDER January through December Average Price
2016
$854,489
-4.6%
74
66
-10.8%
$5,900,000
$3,500,000
-40.7%
320
282
-11.9%
99.2%
99.0%
-0.2%
Properties Sold % Sold Price to List Price
% Change
$895,448
Average Days on Market Highest Price
2017
LOUISVILLE January through December Average Price
2016
$613,197
9.5%
53
59
11.3%
$1,412,500
$1,775,000
25.7%
274
305
11.3%
100.5%
100.0%
-0.5%
Properties Sold % Sold Price to List Price
% Change
$560,074
Average Days on Market Highest Price
2017
Northern Boulder boasts more than 220+ artists and creative industries along its popular Broadway Street.
11.3%
The number of properties sold in Louisville increased by 11.3% January through December 2017 compared to that of 2016.
SUPERIOR January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$553,885
$571,642
3.2%
47
45
-4.3%
$1,107,287
$1,090,000
-1.6%
192
165
-14.1%
104.1%
101.0%
-3.0%
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LAFAYETTE January through December Average Price
2016
$524,450
7.0%
72
54
-25.0%
$1,600,000
$1,520,000
-5.0%
417
466
11.8%
101.1%
99.6%
-1.5%
Properties Sold % Sold Price to List Price
5.8%
January through December 2017, the average price in Erie and Southwest Weld County increased by 5.8% compared to that 2016.
% Change
$490,179
Average Days on Market Highest Price
2017
ERIE/SOUTHWEST WELD COUNTY January through December Average Price
2016
$525,638
5.8%
58
51
-12.1%
$1,250,000
$1,479,000
18.3%
202
225
11.4%
99.0%
99.0%
0.0%
Properties Sold % Sold Price to List Price
% Change
$496,814
Average Days on Market Highest Price
2017
Frederick, Firestone, Dacono
LONGMONT January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$397,624
$436,996
9.9%
58
55
-5.2%
$1,285,000
$1,287,402
0.2%
1,632
1,696
3.9%
100.3%
99.4%
-0.9%
MICROMARKET REPORT | Boulder livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
LYONS January through December Average Price
2016
$598,893
13.8%
76
74
-2.6%
$791,000
$925,000
16.9%
42
39
-7.1%
99.0%
99.0%
0.0%
Properties Sold % Sold Price to List Price
% Change
$526,135
Average Days on Market Highest Price
2017
BOULDER COUNTY PLAINS January through December Average Price
2016
$823,684
11.9%
73
75
2.7%
$6,250,000
$5,950,000
-4.8%
506
481
-4.9%
98.3%
95.7%
-2.7%
Properties Sold % Sold Price to List Price
% Change
$736,381
Average Days on Market Highest Price
2017
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�.
11.9%
The average price in the Eastern Boulder County Plains increased by 11.9% in January through December 2017 compared to that of 2016.
FOOTHILLS COMMUNITIES January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$966,628
$857,342
-11.3%
103
98
-4.9%
$5,400,000
$2,360,000
-56.3%
133
121
-9.0%
96.2%
97.0%
0.8%
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
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3.7%
January through December 2017, the average price in the Mountain and Canyon Communities increased by 3.7% compared to that of 2016.
MOUNTAIN & CANYON COMMUNITIES January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$415,177
$430,445
3.7%
103
78
-24.3%
$3,000,000
$1,162,500
-61.3%
332
227
-31.6%
96.5%
98.0%
1.5%
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
2018 • 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.