Boulder Q1, 2018 Micro Market Report

MICROMARKET REPORT |

Boulder • Quarter 1 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: 1459 White Hawk Ranch Drive, 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 fastmoving and competitive “seller’s market” in most areas.

County-wide, there were 883 sold listings (all properties) January through March 2018, which is up 6.5% year-over-year. Total dollar volume sold was up a signficiant 22.7%, and stood at $583,934,787 at the end of Quarter 1 2018. The average price was up 15.2%, to $661,308, and several micro markets saw a similar increase in average sold price as well as highest price sold. LIV Sotheby’s International Realty was credited with having the highest sale of an attached residence in Boulder County history; 1155 Canyon Boulevard #406 sold for a record-breaking $5,500,000 in March 2018.

“There were modest increases in transaction volume, while average sales price increased 15.2% for all property types in Boulder County,” said David Carner, managing broker of LIV Sotheby’s International Realty’s Boulder offices. “Because of some notable high-end sales this first quarter, the average price comparison is a little skewed, and should not be interpreted as an average appreciation rate. That number is better reflected in in the Federal government’s estimation of appreciation in their quarterly price index (source: FHFA.gov).. The most recent data for the Boulder metropolitan statistical area indicates an annual appreciation rate of 9.3%. The last quarter of 2017 came in at 1.86%, so the trend is that the appreciation rate will be lower (still increasing, but at a decreasing rate). Ultimately, appreciation is driven by an undersupplied market with excess demand, and this is what we are still seeing.”

BOULDER COUNTY

January through March New Listings

2017

2018

% Change

1,444

1,309

-9.3%

Sold Listings (All Properties)

829

883

6.5%

Sold Single Family

560

600

7.1%

Sold Condo

269

283

5.2%

67

68

1.5%

$574,282

$661,308

15.2%

99.3%

98.6%

-0.7%

$476,079,579

$583,934,787

22.7%

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 57th of 253 markets by the Federal Housing Finance Authority in their most recent quarterly report, further exemlifying 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 QUARTER 1 2018 • COLORADOMICROREPORTS.COM

CITY OF BOULDER January through March

2017

2018

% Change

New Listings

555

539

-2.9%

Sold Listings (All Properties)

312

341

9.3%

Sold Single Family

172

195

13.4%

Sold Condo

140

146

4.3%

69

65

-5.8%

$723,916

$893,350

23.4%

98.2%

97.9%

-0.3%

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

CENTRAL & HISTORIC BOULDER January through March

2017

Average Price

$1,258,613

$1,485,204

18.0%

66

72

9.1%

$2,450,000

$5,200,000

112.2%

26

33

26.9%

100.0%

98.0%

-2.0%

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

2018

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

2017

2018

% Change

$694,938

$888,958

27.9%

60

86

43.3%

$2,187,500

$5,500,000

151.4%

29

23

-20.7%

99.0%

98.0%

-1.0%

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85.1%

The average price for University Hill & Chautauqua increased by 85.1% January through March 2018 compared to that of 2017.

UNIVERSITY HILL & CHAUTAUQUA January through March Average Price

2017

$1,716,557

85.1%

59

52

-11.9%

$2,250,000

$4,300,000

91.1%

21

20

-4.8%

97.0%

99.0%

2.1%

Properties Sold % Sold Price to List Price

% Change

$927,437

Average Days on Market Highest Price

2018

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

SOUTH BOULDER January through March Average Price

2017

$709,001

7.7%

50

54

8.0%

$1,675,000

$2,220,000

32.5%

46

53

15.2%

98.0%

98.0%

0.0%

Properties Sold % Sold Price to List Price

% Change

$658,123

Average Days on Market Highest Price

2018

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

12.7%

The average price for East Boulder and Gunbarrel increased by 12.7% January through March 2018 compared to that of 2017.

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

2017

2018

% Change

$580,379

$654,283

12.7%

60

57

-5.0%

$2,550,000

$3,000,000

17.6%

111

143

28.8%

99.0%

99.0%

0.0%

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

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QUARTER 1 2018 • COLORADOMICROREPORTS.COM

NORTH BOULDER January through March

2017

2018

Average Price

$800,955

$1,031,431

28.8%

83

71

-14.5%

$2,200,000

$2,500,000

13.6%

56

49

-12.5%

100.0%

99.0%

-1.0%

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

% Change

LOUISVILLE January through March Average Price

2017

$651,835

18.3%

59

59

0.0%

$1,260,000

$1,400,000

11.1%

59

41

-30.5%

100.0%

102.0%

2.0%

Properties Sold % Sold Price to List Price

% Change

$551,204

Average Days on Market Highest Price

2018

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

18.3%

The average price in Louisville increased by 18.3% January through March 2018 compared to that of 2017.

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

2017

2018

% Change

$567,078

$496,506

-12.4%

44

96

118.2%

$1,087,242

$915,000

-15.8%

35

40

14.3%

107.0%

100.0%

-6.5%

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LAFAYETTE January through March Average Price

2017

$536,940

8.9%

65

43

-33.8%

$1,465,000

$1,150,000

-21.5%

72

74

2.8%

101.0%

100.0%

-1.0%

Properties Sold % Sold Price to List Price

8.8%

January through March 2018, the average price in Erie and Southwest Weld County increased by 8.8% compared to that 2017.

% Change

$493,184

Average Days on Market Highest Price

2018

ERIE/SOUTHWEST WELD COUNTY January through March Average Price

2017

$437,210

8.8%

70

62

-11.4%

$997,500

$1,150,000

15.3%

217

250

15.2%

99.0%

99.0%

0.0%

Properties Sold % Sold Price to List Price

% Change

$401,858

Average Days on Market Highest Price

2018

Frederick, Firestone, Dacono

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

2017

2018

% Change

$384,303

$421,694

9.7%

61

65

6.6%

$1,248,499

$890,000

-28.7%

254

279

9.8%

100.0%

100.0%

0.0%

MICROMARKET REPORT | Boulder livsothebysrealty.com

QUARTER 1 2018 • COLORADOMICROREPORTS.COM

LYONS January through March Average Price

2017

$618,272

30.5%

128

121

-5.5%

$805,391

$815,000

1.2%

11

9

-18.2%

100.0%

98.0%

-2.0%

Properties Sold % Sold Price to List Price

% Change

$473,896

Average Days on Market Highest Price

2018

BOULDER COUNTY PLAINS January through March Average Price

2017

$852,650

8.9%

85

71

-16.5%

$2,550,000

$3,000,000

17.6%

87

85

-2.3%

96.0%

97.0%

1.0%

Properties Sold % Sold Price to List Price

% Change

$783,284

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”.

8.9%

The average price in the Eastern Boulder County Plains increased by 8.9% in January through March 2018 compared to that of 2017.

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

2017

2018

% Change

$788,358

$913,729

15.9%

125

111

-11.2%

$1,459,750

$3,650,000

150.0%

18

22

22.2%

96.0%

96.0%

0.0%

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

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9.5%

January through March 2018, the average price in the Mountain and Canyon Communities increased by 9.5% compared to that of 2017.

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

2017

2018

% Change

$466,434

$510,778

9.5%

118

124

5.1%

$1,095,000

$1,240,000

13.2%

39

41

5.1%

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

QUARTER 1 2018 • COLORADOMICROREPORTS.COM

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.