LIV
MICRO MARKET REPORTS
BOULDER | Quarter 1 2016
C O LO R A D O M I C R O R E P O RTS .C O M
BOULDER COUNTY NEIGHBORHOODS 18
3
2
10
17
4
9
5
1
7
6
16 8
11
12
13
14
1. Mountain & Canyon Communities
7. Central Boulder & Historic District
13. Arvada
2. Foothills Communities
8. South Boulder
14. Superior
3. Lyons
9. East Boulder & Gunbarrel
15. Louisville
4. North Boulder
10. Eastern Boulder County Plains
16. Lafayette
5. Downtown
11. Broomfield
17. Erie
6. University Hill & Chautauqua
12. Westminster
18. Longmont
15
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
BOULDER AREA The Boulder Area Micro Market Report (MMR), prepared by LIV Sotheby’s International Realty, compares 2016 first quarter statistics (January through March), to that of 2015, for single family homes and attached dwellings in Boulder County. The average sales price of single family and attached dwellings combined rose 11.2%, resulting in an average price of $547,126 New listings are down, and at only 1,176 properties newly listed in the first quarter, inventory is at its lowest point in several years. The lack of inventory has had a negative effect on the number of sales, which is down 17.2% to 739 in the first quarter of 2016. Other stats reflect a strong seller’s market: less time on the market (now averaging 43 days), and a higher sell price/list price ratio (now averaging just over 100%). Many properties sell after receiving multiple bids, and buyers are left with little room to negotiate. Some would-be sellers are postponing the decision to list, fearing that they won’t find a suitable replacement property. The hottest neighborhoods in terms of dollars per square foot are located in the core of Boulder – the Historic District, Downtown, and University Hill. These are also the areas with the most pronounced disparity of available listings compared to the demand. At the core of this imbalance is the local economy, which provides about 100,000 jobs in Boulder proper– a number roughly equal to the entire population of the city! Currently, about 60,000 of those people commute daily into Boulder. As prices continue to rise rapidly, both affordability and overall mobility of the marketplace suffers.
Quarter 1 Highlights:
• Louisville’s average price is $510,773– up 10.9% • Foothills Communities of Boulder County’s average price is $757,404 – up 5.6% • University Hill’s average price is $856,593 – up 3.9% • Central Boulder and Historic District’s average price is $1,237,772 – up 17.4%
739
homes sold for an average of
$547,126
or, $404,326,335 total dollar volume sold.
BOULDER COUNTY All Properties January through March New Listings
2016
2015
% Change
1,176
1,301
-9.6%
Sold Listings (All Properties)
739
892
-17.2%
Sold Single Family
548
629
-12.9%
Sold Condo
191
263
-27.4%
Average Days on Market
43
47
-8.5%
$547,126
$491,962
11.2%
Average Price % Sold Price to List Price Total Sold Sales Volume
100.2%
98.4%
1.8%
$404,326,335
$438,830,396
-7.9%
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
BOULDER MARKET | MARKETS BY AREA
CITY OF BOULDER
All Properties
January through March
2016
2015
% Change
New Listings
443
508
-12.8%
Sold Listings (All Properties)
276
338
-18.3%
Sold Single Family
164
180
-8.9%
Sold Condo
112
158
-29.1%
Average Days on Market
42
42
0.0%
Average Price
$717,181
$651,021
10.2%
% Sold Price to List Price
100.3%
98.4%
1.9%
CENTRAL BOULDER & HISTORIC DISTRICT Mapleton Hill, Whittier, Newlands, Green Meadows, Sunset Hill, Panorama Heights
January through March Single Family
Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$1,237,772
$1,054,168
17.4%
60
83
-27.7%
$2,160,000
$3,400,000
-36.5%
19
48
-60.4%
100.0%
97.0%
3.1%
2016
2015
% Change
$521,877
$615,126
-15.2%
65
75
-13.3%
$1,050,000
$2,780,000
-62.2%
24
47
-48.9%
101.0%
100.0%
1.0%
2016
2015
% Change
$856,593
$824,757
3.9%
47
64
-26.6%
$1,829,000
$1,800,000
1.6%
16
19
-15.8%
99.0%
100.0%
-1.0%
DOWNTOWN BOULDER Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
UNIVERSITY HILL & CHAUTAUQUA
Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park
Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
BOULDER MARKET | MARKETS BY AREA
335 Lee Hill Drive, Boulder
SOUTH BOULDER
Devil’s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows
Single Family & Attached Dwellings
January through March Average Price
2016
2015
% Change
$709,788
$493,678
43.8%
56
48
16.7%
$3,100,000
$1,249,900
148.0%
54
55
-1.8%
101.0%
100.0%
1.0%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
EAST BOULDER & GUNBARREL
Four Mile Creek, Noble Park, Palo Park, Orange Orchard, Boulder Country Club, Country Club Estates
Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$518,453
$448,052
15.7%
54
62
-12.9%
$1,315,000
$1,720,000
-23.5%
81
102
-20.6%
101.0%
99.0%
2.0%
NORTH BOULDER
Wonderland Hill, Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay’s Orchard, Moores
Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$825,356
$662,070
24.7%
64
56
14.3%
$2,250,000
$1,890,000
19.0%
52
59
-11.9%
100.0%
100.0%
0.0%
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
BOULDER MARKET | MARKETS BY AREA
9044 Jason Court, Boulder
CITY OF LOUISVILLE Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$510,773
$460,410
10.9%
50
55
-9.1%
$884,328
$930,000
-4.9%
37
59
-37.3%
101.0%
99.0%
2.0%
2016
2015
% Change
$588,762
$445,008
32.3%
39
64
-39.1%
$1,107,287
$943,000
17.4%
30
28
7.1%
110.0%
99.0%
11.1%
2016
2015
% Change
$449,672
$406,420
10.6%
82
77
6.5%
$1,100,000
$840,000
31.0%
67
63
6.3%
101.0%
101.0%
0.0%
CITY OF SUPERIOR Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
CITY OF LAFAYETTE Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
BOULDER MARKET | MARKETS BY AREA
9700 Meadow Ridge Lane, Longmont
CITY OF ERIE AND SOUTHWEST WELD COUNTY Frederick, Firestone, Dacono
Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$363,435
$348,041
4.4%
70
71
-1.4%
$1,008,000
$1,265,000
-20.3%
231
270
-14.4%
100.0%
99.0%
1.0%
2016
2015
% Change
$351,517
$307,878
14.2%
63
63
0.0%
$950,000
$875,000
8.6%
233
289
-19.4%
100.0%
99.0%
1.0%
2016
2015
% Change
$531,750
$545,496
-2.5%
110
106
3.8%
$791,000
$690,000
14.6%
8
7
14.3%
98.0%
98.0%
0.0%
CITY OF LONGMONT Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
CITY OF LYONS Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
BOULDER MARKET | MARKETS BY AREA
1133 Timber Lane, Boulder
EASTERN BOULDER COUNTY PLAINS
Niwot, Hygiene, Sommerset Estates, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$717,836
$645,875
11.1%
87
97
-10.3%
$2,750,000
$1,720,000
59.9%
68
101
-32.7%
98.0%
97.0%
1.0%
2016
2015
% Change
$757,404
$717,492
5.6%
113
140
-19.3%
$2,025,000
$2,500,000
-19.0%
25
29
-13.8%
96.0%
95.0%
1.1%
FOOTHILLS COMMUNITIES
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
January through March Single Family
Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
MOUNTAIN & CANYON COMMUNITIES
Nederland, Allenspark, Coal Creek Canyon, Golden Gate Canyon, Gilpin & Jefferson County
January through March Single Family
Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$446,024
$361,481
23.4%
153
155
-1.3%
$3,000,000
$790,000
279.7%
34
37
-8.1%
93.0%
97.0%
-4.1%
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
NORTH DENVER METRO MARKET | MARKETS BY AREA
15468 Montain View Circle, Broomfield
CITY OF BROOMFIELD Single Family & Attached Dwellings
January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2015
% Change
$418,875
$381,407
9.8%
38
42
-9.5%
$1,260,000
$2,900,000
-56.6%
169
187
-9.6%
98.9%
98.9%
0.0%
2016
2015
% Change
$351,182
$329,135
6.7%
38
32
18.8%
$1,450,000
$1,385,000
4.7%
260
251
3.6%
100.0%
99.0%
0.7%
2016
2015
% Change
$398,460
$356,455
11.8%
44
40
10.0%
$1,200,000
$1,400,000
-14.3%
397
374
6.1%
98.9%
100.0%
-1.1%
CITY OF WESTMINSTER January through March Single Family
Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
CITY OF ARVADA January through March Single Family
Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
COLORADO LUXURY REAL ESTATE EXPERTS BOULDER
CASTLE PINES
1050 Walnut Street Suite 100 Boulder, CO 80302 303.443.6161
EVERGREEN
DOWNTOWN DENVER
31955 Castle Court Unit #1 South Evergreen, CO 80439 303.674.3200
1512 Larimer Street #46R Denver, CO 80202 303.893.3200
8000 E. Belleview Avenue Suite 200 Greenwood Village, CO 80111 303.893.3200
VAIL
VAIL
292 E. Meadow Drive Suite 101 Vail, CO 81657 970.476.7944
101 S. Main Street Breckenridge, CO 80424 970.453.0550
255 Clayton Street Unit 100 North Denver, CO 80206 303.893.3200
100 Saint Paul Street Suite 200 Denver, CO 80206 303.893.3200
DENVER TECH CENTER
BRECKENRIDGE
CHERRY CREEK (Clayton)
CHERRY CREEK (St. Paul)
858 W. Happy Canyon Road Suite 100 Castle Rock, CO 80108 303.660.8800
BEAVER CREEK
28 Bridge Street Suite 100 Vail, CO 81657 970.476.7944
EDWARDS
26 Avondale Lane #119 Beaver Creek, CO 81620 970.845.0400
34253 Highway 6 #2A Edwards, CO 81632 34 970.748.5150
36
LIV Sotheby’s International Realty Locations
BOULDER COUNTY BOULDER
|
CASTLE PINES VILLAGE
DOWNTOWN DENVER
|
EVERGREEN
BRECKENRIDGE
|
|
|
CHERRY CREEK Boulder
GREENWOOD VILLAGE
25
VAIL VALLEY
DENVER 70
Downtown Denver Cherry Creek
VAIL VALLEY Beaver Creek
Denver Tech Center
Evergreen
Edwards Vail
24
70
SUMMIT COUNTY 85
Breckenridge
285
25
Castle Pines
MICROMARKET REPORT | BOULDER QUARTER 1 2016 | 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.
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