Boulder Year End, 2016 Micro Market Report

LIV

MICRO MARKET REPORTS

BOULDER | 2016

6610 Rabbit Mountain Road, Longmont

C O LO R A D O M I C R O R E P O RTS .C O M

BOULDER COUNTY NEIGHBORHOODS 15

3

2

10

14

4

9

5

1

7

6

13 8

11

1. Mountain & Canyon Communities

7. Central Boulder & Historic District

13. Lafayette

2. Foothills Communities

8. South Boulder

14. Erie

3. Lyons

9. East Boulder & Gunbarrel

15. Longmont

4. North Boulder

10. Eastern Boulder County Plains

5. Downtown

11. Superior

6. University Hill & Chautauqua

12. Louisville

12

MICROMARKET REPORT | BOULDER 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 statistics (January through December), 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 12.8%, resulting in an average price of $571,343.

The Boulder market continues as one of the best in the country in terms of appreciation – both in the last year (10.5%), and over the last 5 years (49.7%) according to the Federal Housing Finance Authority (FHFA.gov). The appreciation can be seen in the rise in average price in each of the micro market areas within our report, most showing double digit increases by that measure.

Other conditions that accompany this highly advantageous seller’s market are: low inventory, short time on the market, and high sales to list price ratio. The downsides of this market are being felt by buyers: lack of choices, multiple competing offers, and diminishing affordability. We expect more balance in 2017, but due to a sizzling hot economy, and enduring attractive lifestyle amenities, Boulder will continue to be a terrific investment as well as a fantastic place to call home.

2016 Highlights:

• Louisville’s average price is $560,074 – up 8.3% • Foothills Communities of Boulder County’s average price is $966,629 – up 23.2% • University Hill’s average price is $1,078,928 – up 2.6% • Central Boulder and Historic District’s average price is $1,387,176 – up 18.3%

6,163

homes sold for an average of

$571,343

or, $2,696.739,764 total dollar volume sold.

BOULDER COUNTY All Properties January through December

2015

2016

% Change

New Listings

5,947

6,163

3.6%

Sold Listings (All Properties)

4,931

4,720

-4.3%

Sold Single Family

3,551

3,368

-5.2%

Sold Condo

1,380

1,352

-2.0%

60

64

6.7%

$506,618

$571,343

12.8%

99.6%

99.7%

0.0%

$2,498,132,005

$2,696,739,764

8.0%

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

MICROMARKET REPORT | BOULDER 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

All Properties

CITY OF BOULDER January through December

2015

2016

New Listings

2,207

2,236

1.3%

Sold Listings (All Properties)

1,835

1,616

-11.9%

Sold Single Family

1,021

925

-9.4%

814

691

-15.1%

60

62

3.3%

$674,752

$782,065

15.9%

99.2%

99.2%

0.0%

Sold Condo Average Days on Market Average Price % Sold Price to List Price

% Change

CENTRAL BOULDER & HISTORIC DISTRICT Mapleton Hill, Whittier, Newlands, Green Meadows, Sunset Hill, Panorama Heights

January through December Single Family

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$1,172,960

$1,387,176

18.3%

73

68

-6.8%

$5,050,000

$7,755,285

53.6%

180

135

-25.0%

98.1%

98.7%

0.6%

2015

2016

% Change

$552,606

$626,369

13.3%

56

58

3.6%

$3,750,000

$2,875,000

-23.3%

169

159

-5.9%

99.6%

99.3%

-0.3%

2015

2016

% Change

$1,051,180

$1,078,928

2.6%

66

61

-7.6%

$3,350,000

$3,400,000

1.5%

98

72

-26.5%

97.6%

97.9%

0.3%

DOWNTOWN BOULDER Attached Dwellings

January through December 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 December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

MICROMARKET REPORT | BOULDER 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

SOUTH BOULDER

Devil’s Thumb, Table Mesa, Highland Park, Shanahan Ridge, Martin Acres, Frasier Meadows, Keewaydin Meadows

Single Family & Attached Dwellings

January through December Average Price

2015

2016

% Change

$579,291

$684,172

18.1%

43

49

14.0%

$3,489,000

$3,100,000

-11.1%

310

278

-10.3%

101.0%

100.8%

-0.2%

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 December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$468,254

$566,948

21.1%

52

57

9.6%

$2,400,000

$2,670,000

11.3%

620

564

-9.0%

100.3%

99.6%

-0.7%

NORTH BOULDER

Wonderland Hill, Dakota Ridge, Northfield, Carolyn Heights, Melody Heights, McKay’s Orchard, Moores

Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$720,878

$895,448

24.2%

60

74

23.3%

$4,495,000

$5,900,000

31.3%

325

320

-1.5%

99.8%

99.2%

-0.6%

CITY OF LOUISVILLE Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$517,268

$560,074

8.3%

48

53

10.4%

$1,408,000

$1,412,500

0.3%

258

274

6.2%

100.2%

100.5%

0.3%

MICROMARKET REPORT | BOULDER 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 SUPERIOR Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$505,747

$553,885

9.5%

44

47

6.8%

$1,142,333

$1,107,287

-3.1%

167

192

15.0%

102.0%

104.1%

2.1%

2015

2016

% Change

$413,893

$453,584

9.6%

59

68

15.3%

$1,423,333

$1,600,000

12.4%

422

415

-1.7%

101.1%

100.7%

-0.4%

CITY OF LAFAYETTE Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

CITY OF ERIE AND SOUTHWEST WELD COUNTY Frederick, Firestone, Dacono

Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$363,320

$381,840

5.1%

60

64

6.7%

$1,495,000

$1,425,000

-4.7%

1,371

1,482

8.1%

99.4%

99.7%

0.3%

2015

2016

% Change

$322,551

$366,665

13.7%

51

56

9.8%

$1,085,000

$1,285,000

18.4%

1,547

1,515

-2.1%

100.3%

100.5%

0.2%

CITY OF LONGMONT Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

MICROMARKET REPORT | BOULDER 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 LYONS Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$516,071

$526,135

2.0%

91

76

-16.5%

$770,000

$791,000

2.7%

50

42

-16.0%

98.5%

99.0%

0.5%

EASTERN BOULDER COUNTY PLAINS

Niwot, Hygiene, Sommerset Estates, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills

Single Family & Attached Dwellings

January through December Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$649,528

$736,381

13.4%

66

73

10.6%

$3,050,000

$6,250,000

104.9%

499

506

1.4%

98.6%

98.3%

-0.2%

2015

2016

% Change

$784,623

$966,628

23.2%

116

103

-11.2%

$6,300,000

$5,400,000

-14.3%

161

133

-17.4%

96.2%

96.2%

0.0%

FOOTHILLS COMMUNITIES

Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs

January through December 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 December Single Family

Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2015

2016

% Change

$349,301

$415,177

18.9%

109

103

-5.5%

$887,500

$3,000,000

238.0%

281

332

18.1%

97.5%

96.5%

-1.0%

MICROMARKET REPORT | BOULDER 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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