Boulder Q1 2020 Micro Market Report

MICROMARKET REPORT

BOULDER | Q1 2020

BOULDER/NORTH METRO NEIGHBORHOODS 1.

Mountain & Canyon Communities

15

3

2. Foothills Communities 3. Lyons 4. North Boulder 5. Downtown 6. University Hill & Chautauqua 7. Central Boulder & Historic District

2 10

4

8. South Boulder

14

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

11. Superior 12. Louisville

5

7

13. Lafayette 14. Erie 15. Longmont

1 6

16. Broomfield 17. Westminster 18. Arvada

13

8

16 11 18 17 12

Pictured on cover: 350 15th Street, Boulder

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BOULDER MARKET UPDATE Located at the base of Colorado’s famous Rocky Mountains lies the lively and unique city of Boulder. Just a halfhour northwest of Denver, this area has all of the amenities of a metropolitan city, on a smaller scale. With its strong community feel, Boulder offers its residents plenty of activities to choose from all year round. Head to Pearl Street to test some of Boulder’s best selection of restaurants, browse through local boutiques, and find a spot to sip a cocktail and enjoy live music to listen to. When the weather is nice, you’ll want to head outdoors for hiking, biking, rock climbing, and more. Since this city is so close to the mountains, adventures are easily accessible. No matter your lifestyle, hobbies, or interests, Boulder will have something for you.

LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder County and each of the unique neighborhoods within it.

The report examines key performance indicators from Q1 of 2020 and compares them to the same time period of 2019. Boulder County has seen a 20.9% increase in total sold sales volume, likely as the result of Boulder County’s 14.6% increase in overall sold properties. Throughout Q1 in 2020, there were 960 sold homes compared to 2019 when there were 838 sold homes.

BOULDER COUNTY January through March

2019

2020

% Change

New Listings

1,511

1412

-6.6%

Sold Listings (All Properties)

838

960

14.6%

Sold Single Family

584

658

12.7%

Sold Attached Dwellings

252

300

19.0%

Average Days on Market Average Price % Sold Price to Original List Price Total Dollar Volume Sold

67

75

11.9%

$668,094

$709,294

6.2%

98.2%

97.7%

-0.5%

$559,862,483

$676,666,335

20.9%

Out of all of the communities within Boulder County, Downtown Boulder saw the most impressive rise in the number of homes sold, increasing by 400% from Q1 of 2019 when three homes were sold, to Q1 of 2020 when 15 homes were sold. Further illustrating this area’s popularity, the average days on market for this community dropped by 39.5% to 118 days, showing that interested buyers are acting more quickly.

The Central and Historic Boulder community experienced the largest increase in average price, up 27.3% in Q1 of 2020 compared to the same time frame in 2019. The average price for a home in this area is $1,307,792, up from Q1 of 2019 when the average price was $1,027,225.

Ideal for all ages and lifestyles, Boulder is a beautiful city to buy and sell primary residences or second homes in.

This Colorado community’s real estate market is healthy and continually growing as more people decide to call the Boulder area home.

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 JANUARY - MARCH 2020 • COLORADOMICROREPORTS.COM

CITY OF BOULDER

20.4%

The number of sold listings in the City of Boulder increased by 20.4% January through March 2020 compared to that of 2019.

January through March

2019

2020

% Change

New Listings

590

581

-1.5%

Sold Listings (All Properties)

289

348

20.4%

Sold Single Family

167

188

12.6%

Sold Condo

122

158

29.5%

68

84

23.5%

$930,182

$1,003,339

7.9%

98.2%

96.9%

-1.3%

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

CENTRAL & HISTORIC BOULDER January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,027,255

$1,307,792

27.3%

68

100

47.1%

$4,500,000

$5,910,000

31.3%

42

61

45.2%

97.9%

98.9%

1.0%

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

2040 16th Street, Boulder

DOWNTOWN BOULDER

Stroll along our popular

January through March

pedestrian mall and

Average Price

enjoy a great selection of

Average Days on Market

restaurants, bookstores,

Highest Price

boutiques, and sidewalk cafes in Downtown Boulder.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,208,000

$1,199,283

-0.7%

195

118

-39.5%

$1,735,000

$2,600,000

49.9%

3

15

400.0%

94.8%

95.5%

0.7%

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UNIVERSITY HILL & CHAUTAUQUA January through March Average Price

2019

2020

% Change

$1,317,390

$1,578,996

19.9%

63

71

12.7%

$3,900,000

$3,700,000

-5.1%

20

16

-20.0%

96.8%

97.2%

0.4%

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

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

695 11th Street, Boulder

12.9%

SOUTH BOULDER January through March Average Price Average Days on Market

The average days on market for South Boulder

Highest Price

decreased by 12.9% January through March

Properties Sold

2020 compared to that of 2019.

% Sold Price to List Price

2019

2020

% Change

$855,088

$875,727

2.4%

70

61

-12.9%

$3,304,800

$2,950,000

-10.7%

32

54

68.8%

99.2%

99.6%

0.4%

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

NORTH BOULDER January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,037,609

$962,577

-7.2%

59

76

28.8%

$4,500,000

$4,000,000

-11.1%

61

68

11.5%

98.4%

96.9%

-1.5%

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

2930 Broadway Street, Boulder

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4.7%

The number of properties sold for East Boulder & Gunbarrel increased by 4.7% January through March 2020 compared to that of 2019.

EAST BOULDER & GUNBARREL January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

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

2019

2020

% Change

$691,810

$731,055

5.7%

57

79

38.6%

$3,000,000

$7,400,000

146.7%

106

111

4.7%

99.4%

96.1%

-3.3%

Louisville is successfully 2019

2020

% Change

$655,672

$615,397

-6.1%

new, Old Town’s Main

48

89

85.4%

Street is lined with new

$1,870,000

$1,560,000

-16.6%

shops and restaurants

59

61

3.4%

that are housed in historic

99.6%

99.2%

-0.4%

wooden buildings.

blending the old and the

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

2019

2020

% Change

$565,429

$627,092

10.9%

64

52

-18.8%

$875,000

$1,022,608

16.9%

32

31

-3.1%

99.3%

99.6%

0.3%

920 E Riverbend Street, Superior

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

2019

2020

% Change

$545,651

$555,720

1.8%

55

69

25.5%

$1,050,000

$2,500,000

138.1%

83

85

2.4%

99.1%

98.5%

-0.6%

1881 Pioneer Circle, Lafayette

27.6%

ERIE/SOUTHWEST WELD COUNTY January through March Average Price Average Days on Market

The highest price for Erie/Southwest Weld County

Highest Price

increased by 27.6% January through March 2020

Properties Sold

compared to that of 2019.

% Sold Price to List Price

2019

2020

% Change

$441,117

$456,834

3.6%

66

58

-12.1%

$980,000

$1,250,000

27.6%

257

282

9.7%

98.9%

99.1%

0.2%

Frederick, Firestone, Dacono

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

2019

2020

% Change

$473,738

$501,186

5.8%

67

72

7.5%

$2,975,000

$2,385,000

-19.8%

309

357

15.5%

97.3%

98.4%

1.1%

8195 N 81st Street, Longmont

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1.7%

LYONS January through March Average Price Average Days on Market

The average price for Lyons increased by 1.7%

Highest Price

January through March 2020 compared to that

Properties Sold

of 2019.

% Sold Price to List Price

2019

2020

% Change

$509,664

$518,182

1.7%

102

105

2.9%

$850,000

$710,000

-16.5%

15

11

-26.7%

97.4%

98.5%

1.1%

BOULDER COUNTY PLAINS January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

With close access to

$1,060,653

$949,643

-10.5%

the city of Boulder and

71

84

18.3%

surrounding areas, Boulder

$2,750,000

$2,465,000

-10.4%

County Plains provides

24

20

-16.7%

endless views of the

98.5%

96.1%

-2.4%

Boulder Flatirons.

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

FOOTHILLS COMMUNITIES January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$967,483

$1,013,750

4.8%

168

77

-54.2%

$2,500,000

$1,595,000

-36.2%

6

4

-33.3%

99.1%

98.8%

-0.3%

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

1133 Timber Lane, Boulder

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MOUNTAIN & CANYON COMMUNITIES January through March Average Price Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$503,386

$534,637

6.2%

109

88

-19.3%

$1,100,000

$1,250,000

13.6%

22

21

-4.5%

97.0%

97.0%

0.0%

Nederland, Allenspark, Coal Creek Canyon, Golden Gate Canyon, Gilpin, Jefferson County

38619 Boulder Canyon Drive, Boulder

BROOMFIELD

Founded in 1877, Broomfield offers a variety

January through March

of housing options from

Average Price

affordable starter homes

Average Days on Market

to million dollar mansions

Highest Price

suitable for any buyer.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$503,448

$533,369

5.9%

37

37

0.0%

$1,600,000

$1,100,000

-31.3%

223

221

-0.9%

99.5%

100.0%

0.5%

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

2019

2020

% Change

$374,588

$404,313

7.9%

27

23

-14.8%

$850,000

$1,470,000

72.9%

353

364

3.1%

99.7%

100.0%

0.3%

9731 Eaton Street, Westminster

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MICROMARKET REPORT | Boulder MICROMARKET REPORT | Boulder

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9.1%

ARVADA January through March Average Price Average Days on Market

The average days on market for the city of

Highest Price

Arvada decreased by 9.1% January through

Properties Sold

March 2020 compared to that of 2019.

% Sold Price to List Price

2019

2020

% Change

$452,977

$472,736

4.4%

33

30

-9.1%

$1,100,000

$940,000

-14.5%

497

522

5.0%

100.0%

100.0%

0.0%

WHY COLORADO? NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

SKI AREAS & RESORTS: 28

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

CRAFT BREWERIES: 350+

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The life you love.

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.