Boulder Mid-Year, 2018 Micro Market Report

MICROMARKET REPORT |

Boulder • Mid-Year 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: 6600 South Boulder 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 fast-moving and competitive “seller’s market” in most areas.

The number of single family homes sold remained the same year-over-year, holding at 2,271. The average sales price in Boulder County increased a significant 10% year-over-year, from $611,510 in 2017, to $672,465 January through June 2018. Across the board, days on market held steady year-over-year, at 57 days January through June 2018, an excellent time frame in the Boulder County real estate market. The number of days a home Boulder remains on the market averages just two months, which demonstrates extremely competitive conditions in the area’s highly desirable marketplace.

BOULDER COUNTY

January through June

Highlights from the Boulder County area include the average price in University Hill & Chautauqua rising to $1,762,769, up 55.1% from 2017, and Downtown Boulder’s average price for condos, townhomes, and duplexes rising to $786,219, up 37.2% from 2017. Longmont’s average price for all properties rose to $474,968, up 8.9%, from 2017, and the Mountain & Canyon Communities of Boulder County’s average price for all properties rose to $517,354, up 12.5% from 2017.

2017

2018

% Change

New Listings

3,606

3,435

-4.7%

Sold Listings (All Properties)

2,249

2,271

1.0%

Sold Single Family

1,607

1,578

-1.8%

642

693

7.9%

56

57

1.8%

$611,510

$672,465

10.0%

99.7%

99.5%

-0.2%

$1,375,287,099

$1,527,168,771

11.0%

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

All Properties

Overall, the Boulder real estate market remains one of the most desirable places to live in the country. The Boulder metropolitan statistical area ranked 68th of 253 top markets by the Federal Housing Finance Authority in their most recent quarterly report, further exemplifying the attractive lifestyle that Boulder offers buyers.

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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 MID -YEAR 2018 • COLORADOMICROREPORTS.COM

CITY OF BOULDER January through June

2017

New Listings

2018

% Change

1,351

1,338

-1.0%

Sold Listings (All Properties)

817

843

3.2%

Sold Single Family

478

475

-0.6%

Sold Condo

339

368

8.6%

60

56

-6.7%

$808,417

$903,937

11.8%

98.7%

99.0%

0.3%

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

CENTRAL & HISTORIC BOULDER January through June

2017

2018

Average Price

$1,510,751

$1,541,465

2.0%

62

60

-3.2%

$6,700,000

$5,200,000

-22.4%

78

85

9.0%

99.0%

99.0%

0.0%

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

2017

2018

% Change

$573,195

$786,219

37.2%

52

81

55.8%

$2,187,500

$5,500,000

151.4%

66

67

1.5%

100.0%

99.0%

-1.0%

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55.1%

The average price for University Hill & Chautauqua increased by 55.1% January through June 2018 compared to that of 2017.

UNIVERSITY HILL & CHAUTAUQUA January through June

2017

2018

Average Price

$1,136,717

$1,762,769

55.1%

71

51

-28.2%

$3,100,000

$4,750,000

53.2%

49

39

-20.4%

96.0%

99.0%

3.1%

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 June Average Price

2017

$749,847

10.2%

44

48

9.1%

$1,850,000

$3,290,000

77.8%

140

136

-2.9%

99.0%

100.0%

1.0%

Properties Sold % Sold Price to List Price

% Change

$680,633

Average Days on Market Highest Price

2018

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

11.1%

The average price for East Boulder and Gunbarrel increased by 11.1% January through June 2018 compared to that of 2017.

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

2017

2018

% Change

$585,065

$649,977

11.1%

54

50

-7.4%

$2,682,000

$3,380,000

26.0%

271

341

25.8%

99.0%

99.0%

0.0%

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

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MID -YEAR 2018 • COLORADOMICROREPORTS.COM

NORTH BOULDER January through June Average Price

2017

$972,687

12.7%

61

56

-8.2%

$2,575,000

$2,615,317

1.6%

149

135

-9.4%

100.0%

99.0%

-1.0%

Properties Sold % Sold Price to List Price

% Change

$863,134

Average Days on Market Highest Price

2018

LOUISVILLE January through June Average Price

2017

$664,816

6.8%

55

45

-18.2%

$1,280,000

$1,575,000

23.0%

156

130

-16.7%

101.0%

101.0%

0.0%

Properties Sold % Sold Price to List Price

% Change

$622,661

Average Days on Market Highest Price

2018

Northern Boulder boasts more than 220+ artists and creative industries along its popular Broadway Street.

6.8%

The average price in Louisville increased by 6.8% January through June 2018 compared to that of 2017.

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

2017

2018

% Change

$574,112

$560,511

-2.4%

43

84

95.3%

$1,087,242

$972,000

-10.6%

84

92

9.5%

103.0%

100.0%

-2.9%

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LAFAYETTE January through June Average Price

2017

$544,445

4.9%

52

38

-26.9%

$1,520,000

$1,600,000

5.3%

199

201

1.0%

101.0%

101.0%

0.0%

Properties Sold % Sold Price to List Price

7.5%

January through June 2018, the average price in Erie and Southwest Weld County increased by 7.5% compared to that 2017.

% Change

$519,061

Average Days on Market Highest Price

2018

ERIE/SOUTHWEST WELD COUNTY January through June Average Price

2017

$510,526

7.5%

49

51

4.1%

$997,500

$1,155,277

15.8%

218

250

14.7%

100.0%

99.0%

-1.0%

Properties Sold % Sold Price to List Price

% Change

$474,827

Average Days on Market Highest Price

2018

Frederick, Firestone, Dacono

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

2017

2018

% Change

$436,296

$474,968

8.9%

51

56

9.8%

$1,287,402

$1,362,500

5.8%

795

781

-1.8%

100.3%

100.0%

-0.3%

MICROMARKET REPORT | Boulder livsothebysrealty.com

MID -YEAR 2018 • COLORADOMICROREPORTS.COM

LYONS January through June Average Price

2017

$593,545

18.9%

92

104

13.0%

$884,143

$1,594,000

80.3%

48

66

37.5%

98.1%

95.5%

-2.7%

Properties Sold % Sold Price to List Price

% Change

$499,167

Average Days on Market Highest Price

2018

BOULDER COUNTY PLAINS January through June Average Price

2017

$890,574

9.6%

74

63

-14.9%

$5,475,000

$3,475,000

-36.5%

220

238

8.2%

97.0%

98.0%

1.0%

Properties Sold % Sold Price to List Price

% Change

$812,316

Average Days on Market Highest Price

2018

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”.

9.6%

The average price in the Eastern Boulder County Plains increased by 9.6% in January through June 2018 compared to that of 2017.

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

2017

2018

% Change

$931,860

$963,328

3.4%

87

83

-4.6%

$2,360,000

$3,650,000

54.7%

59

63

6.8%

98.0%

97.0%

-1.0%

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

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12.5%

January through June 2018, the average price in the Mountain and Canyon Communities increased by 12.5% compared to that of 2017.

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

2017

2018

% Change

$459,850

$517,354

12.5%

86

97

12.8%

$1,095,000

$1,640,000

49.8%

97

104

7.2%

98.0%

97.0%

-1.0%

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

MID -YEAR 2018 • COLORADOMICROREPORTS.COM

IMAGINE.

Introducing CURATE by Sotheby ’s International Realty Sotheby’s International Realty is the first real estate brand to launch and implement a virtual staging augmented reality (AR) app:

DESIGN.

Curate by Sotheby’s International Realty. This mobile app brings a home’s virtual staging images from 2-D perception into augmented reality, allowing customers to visualize a house as their own before purchase, thereby curating the homebuying experience.

SHOP.

Available now for download in the Google Play Store and the iOS App Store.

WHY COLORADO?

NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

SKI AREAS & RESORTS: 28

CRAFT BREWERIES: 350+

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.