Boulder Mid Year 2020 Micro Market Report

MICROMARKET REPORT

BOULDER | MID-YEAR 2020

BOULDER/NORTH METRO NEIGHBORHOODS 1. Mountain & Canyon

15

3

Communities 2. Foothills Communities 3. Lyons 4. North Boulder 5. Downtown 6. University Hill & Chautauqua

2 10

4

7. Central Boulder & Historic

14

District 8. South Boulder 9

9. East Boulder & Gunbarrel 10. Eastern Boulder County Plains

5

13. Lafayette

7

1 6

14. Erie 15. Longmont 16. Broomfield 17. Westminster

13

8

L w t t d s m t B o a w

D n o B i t

11. Superior 12. Louisville

J s i c a

16 11 18 17 12

Pictured on cover: 7645 N 41st Street, Longmont

18. Arvada

S m s e

D p O s l

B t

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BOULDER MARKET UPDATE Just a half-hour north of Denver, the City of Boulder is a community built for those with a passion for peaceful outdoor settings, thrillseeking adventures, local artisan dining and shopping experiences, and much more. There’s truly something here for everyone. Nestled into the base of the famous flatiron rock formations, any time spent in this colorful community is hard to forget. The city’s beauty, combined with its array of activities suitable for all lifestyles, makes this a desirable destination for those looking to invest in a home or find a vacation property.

LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder County and each of the unique neighborhoods within and around it. The report examines key performance indicators from January through June of 2020 and compares them to the same time period of 2019. The lack of real estate activity in the spring, due to social distancing mandates put in place to protect the public during the pandemic, resulted in a lower total sales volume, which decreased 10.6% January through June 2020 compared to the same time period in 2019. However, now that the real estate January through June 2019 2020 % Change market has largely returned to its normal levels of inventory, New Listings 3,830 3281 -14.3% the metrics have recently improved. Across all neighborhoods, Sold Listings (All Properties) 2,365 2080 -12.1% Boulder County has seen a 1.6% increase in the average price 1,635 1,445 -11.6% of homes. This slight increase in overall prices brings the 2020 Sold Single Family average price for homes in Boulder to $671,398, up from 2019 Sold Attached Dwellings 657 589 -10.4% when the average price was $660,755.

Average Days on Market 71 67 -5.6%

BOULDER COUNTY

Average Price

$660,755

$671,398

1.6%

Despite a brief pause in home buying and selling, many 98.5% 98.3% -0.2% neighborhoods still experienced upticks in buying activity. Out % Sold Price to Original List Price of all of the communities within Boulder County, Downtown Total Dollar Volume Sold $1,562,686,479 $1,396,508,599 -10.6% Boulder saw the largest rise in the number of homes sold, increasing by 61.5% through June of 2020 compared to the same time frame in 2019. In total, there were 21 homes sold in Q1 and Q2 of this year. South Boulder also saw a slight increase in the number of homes sold, growing by 2.8%.

Several areas experienced an increase in the average prices for homes through June of this year. The City of Westminster saw one of the most notable increases, rising by 6.5%. Home prices in this community reached an average of $414,423. University Hills and Chautauqua, some of Boulder’s most popular neighborhoods because of their proximity to open space and the hiking trails of Chautauqua Park, experienced a 2.4% growth in average home prices, bringing the average price to $1,388,094.

Demand for homes across Colorado, including the Boulder area communities, has increased, revealing that buyers are ready to find and purchase their next homes once again. This point can be illustrated through the average days homes in an area spend on the market.

Overall, homes in Boulder County have spent 5.5% less time on the market, an average of 67 days, through June of 2020 compared to the same time period in 2019. The Mountain and Canyon Communities have seen properties sell even more quickly than that, spending 51.8% less time on the market so far in 2020 than January through June of 2019.

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.

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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JANUARY - JUNE 2020 • COLORADOMICROREPORTS.COM

CITY OF BOULDER Located at the base of the foothills of the Rocky Mountains, at an elevation of 5,430 feet. Boulder is home to the University of

January through June

2019

2020

% Change

New Listings

1,476

1,340

-9.2%

Sold Listings (All Properties)

767

671

-12.5%

Sold Single Family

453

375

-17.2%

Sold Condo

314

294

-6.4%

64

70

9.4%

$927,148

$936,189

1.0%

98.7%

97.6%

-1.1%

$711,122,749

$628,182,742

-12%

Average Days on Market

Colorado and is famous

Average Price

for its colorful Western

% Sold Price to List Price

history.

Total Sold Sales Volume

CENTRAL & HISTORIC BOULDER January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$1,027,971

$1,237,628

20.4%

54

77

42.6%

$4,500,000

$5,910,000

31.3%

117

100

-14.5%

99.2%

98.6%

-0.6%

$120,272,553

$123,762,810

2.9%

Mapleton Hill, Whittier, Newlands, Green Meadows, Sunset Hill, Panorama Heights

1010 Rosehill Drive, Boulder

DOWNTOWN BOULDER January through June

Stroll along our popular pedestrian mall and enjoy a great selection of restaurants, bookstores, boutiques, and sidewalk cafes in Downtown Boulder.

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

2019

2020

% Change

$1,444,923

$1,142,554

-20.9%

105

99

-5.7%

$2,495,000

$2,600,000

4.2%

13

21

61.5%

97.3%

95.5%

-1.8%

$18,784,000

$23,993,632

27.7%

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UNIVERSITY HILL & CHAUTAUQUA January through June Average Price

2020

% Change

$1,355,941

$1,388,094

2.4%

65

70

7.7%

$3,900,000

$3,700,000

-5.1%

44

26

-40.9%

The average price for the area of University

96.9%

96.9%

0.0%

Hill & Chautauqua increased by 2.4% January

$59,661,400

$36,090,434

-39.5%

through June 2020 compared to that of 2019.

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

2.4%

2019

Floral Park, Geneva Park, Bellevue, Rose Hill, Columbine, Interurban Park

2.8%

SOUTH BOULDER January through June Average Price Average Days on Market Highest Price

The number of properties sold for South

Properties Sold

Boulder increased by 2.8% January through

% Sold Price to List Price

June 2020 compared to that of 2019.

Total Sold Sales Volume

2019

2020

% Change

$907,694

$839,152

-7.6%

53

54

1.9%

$3,304,800

$2,950,000

-10.7%

108

111

2.8%

98.9%

99.9%

1.0%

$98,030,916

$93,145,851

-5.0%

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

NORTH BOULDER January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$946,649

$961,369

1.6%

65

65

0.0%

$4,500,000

$6,600,000

46.7%

151

135

-10.6%

98.6%

97.8%

-0.8%

$142,944,067

$129,784,759

-9.2%

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

589 Laramie Blvd, Boulder

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55.4%

EAST BOULDER & GUNBARREL January through June Average Price Average Days on Market Highest Price

The highest price in East Boulder & Gunbarrel

Properties Sold

increased by 55.4% January through June 2020

% Sold Price to List Price

compared to that of 2019.

Total Sold Sales Volume

2019

2020

% Change

$694,524

$697,568

0.4%

62

69

11.3%

$4,761,819

$7,400,000

55.4%

277

238

-14.1%

98.5%

97.3%

-1.2%

$192,383,203

$166,021,253

-13.7%

LOUISVILLE January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$681,475

$661,417

-2.9%

50

64

28.0%

$2,000,000

$1,775,000

-11.3%

156

135

-13.5%

99.4%

99.8%

0.4%

$106,310,154

$89,291,297

-16.0%

487 Carmen Street, Louisville

SUPERIOR The town was reportedly

January through June

named for the “superior

Average Price

quality” of coal found in the

Average Days on Market

area. Mining continued to be

Highest Price

the major force in Superior’s

Properties Sold

history until 1945 with the

% Sold Price to List Price

Industrial Mine closure.

Total Sold Sales Volume

2019

2020

% Change

$626,048

$629,125

0.5%

51

52

2.0%

$1,225,762

$1,022,608

-16.6%

86

66

-23.3%

99.3%

99.6%

0.3%

$53,840,103

$41,522,278

-22.9%

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LAFAYETTE January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$558,430

$570,979

2.2%

50

52

4.0%

$1,280,000

$2,500,000

95.3%

243

194

-20.2%

99.5%

99.2%

-0.3%

$135,698,400

$110,769,909

-18.4%

2560 Blue Heron Circle W, Lafayette

ERIE/SOUTHWEST WELD COUNTY January through June

The Town of Erie was

Average Price

officially established on

Average Days on Market

November 16, 1874. It is

Highest Price

known for its open space

Properties Sold

and quaint community.

% Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$464,273

$472,718

1.8%

51

51

0.0%

$1,585,000

$1,450,000

-8.5%

647

636

-1.7%

99.2%

99.5%

0.3%

$300,384,655

$300,648,750

0.1%

Erie, Frederick, Firestone, Dacono

LONGMONT January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$470,396

$491,357

4.5%

63

63

0.0%

$2,975,000

$3,500,000

17.6%

826

782

-5.3%

98.4%

98.9%

0.5%

$388,546,745

$384,240,811

-1.1%

2232 Picadilly Circle, Longmont

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LYONS January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$577,342

$547,718

-5.1%

89

83

-6.7%

$1,086,246

$899,900

-17.2%

40

38

-5.0%

98.5%

98.2%

-0.3%

$23,093,681

$20,813,300

-9.9%

203 Riverside Drive, Lyons

BOULDER COUNTY PLAINS January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$1,053,477

$1,095,972

4.0%

74

96

29.7%

$4,761,819

$2,650,000

-44.3%

68

48

-29.4%

96.7%

97.2%

0.5%

$71,636,440

$52,606,649

-26.6%

With close access to the city of Boulder and surrounding areas, Boulder County Plains provides endless views of the Boulder Flatirons.

Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates

FOOTHILLS COMMUNITIES January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

1133 Timber Lane, Boulder

2019

2020

% Change

$898,324

$932,167

3.8%

103

66.5

-35.4%

$2,500,000

$1,595,000

-36.2%

19

6

-68.4%

100.6%

99.0%

-1.6%

$17,068,150

$5,593,000

-67.2%

Pine Brook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs

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MOUNTAIN & CANYON COMMUNITIES January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$512,213

$513,428

0.2%

137

66

-51.8%

$1,330,000

$2,470,000

85.7%

60

60

0.0%

95.6%

96.5%

0.9%

$30,732,774

$30,805,689

0.2%

51.8% The average days on market for the Mountain & Canyon Communities decreased by 51.8% January through June 2020 compared to that of 2019.

Nederland, Allenspark, Gilpin County

BROOMFIELD January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$526,390

$548,145

4.1%

29

31

6.9%

$2,425,000

$3,500,000

44.3%

625

525

-16.0%

99.4%

99.7%

0.3%

$328,993,524

$287,776,010

-12.5%

16001 Lookout Point, Broomfield

WESTMINSTER January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$389,056

$414,423

6.5%

21

17

-19.0%

$1,501,000

$1,600,000

6.6%

6.6%

900

815

-9.4%

The highest price in Westminster increased by

99.8%

100.3%

0.5%

$350,150,511

$337,754,467

-3.5%

6.6% January through June 2020 compared to that of 2019.

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ARVADA January through June Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price Total Sold Sales Volume

2019

2020

% Change

$464,162

$482,367

3.9%

26

24

-7.7%

$1,230,000

$1,282,000

4.2%

1277

1142

-10.6%

99.7%

100.2%

0.5%

$592,734,360

$550,863,360

-7.1%

17584 West 84th Drive, Arvada

WHY COLORADO? NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

SKI AREAS & RESORTS:

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

CRAFT BREWERIES: 350+

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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.