Boulder Micro Market Reports | Quarter 2 2021

Q2 2021

Micro Market Report B O U L D E R VA L L E Y

3075 7th Street

1426 Rembrandt Road

Boulder Valley MARKET UPDATE

Boulder County, a community that appreciates nature, culture, and a healthy lifestyle, has been a long-time favorite of buyers looking for the epitome of the Colorado lifestyle. In fact, Boulder was recently ranked as the No. 1 city in the country to live in for 2021 by U.S. News & World Report. Situated beneath the iconic Flatirons and located just 40 minutes from the heart of Denver, Boulder offers its residents the best of city living near nature. It’s sustained popularity has influenced an appreciation of home prices, increases in the number of homes sold, and a quickening of the pace of the market.

According to LIV Sotheby’s International Realty’s MidYear Micro Market Report, focused on Boulder County and each of the unique neighborhoods within it, Boulder has experienced a 30.3% increase in listings sold for all property types through June of this year compared to the same time frame of 2020. While there were more single family home sales through the second quarter of the year, the condominiums market saw a more significant increase in the number of units sold. There were 1,842 single family homes sold, a 27.5% increase over 2020, but condominium sales rose by an impressive 47.5%, reaching a total of 869 units sold through June. During that time, the average price for all property types also increased, rising by 26.7%, which brings the average home price to $850,630 in Boulder County. Combined, the boost in property sales and appreciation of home prices resulted in a 65.1% increase in sales volume, totaling $2,306,058,451.

The elevated levels of demand for Boulder County homes can also be seen throughout the individual neighborhoods that make up this incredible Colorado community. The Foothills Communities are a prime example of this trend.

Through June of this year, there were 849 homes sold, which is an astounding 14,050% increase from the same

time frame in 2020 when there were just six homes sold. The University Hills & Chautauqua neighborhood also experienced a boom in homebuying, with the number of sold properties rising by 157.7%, from 26 homes sold last year to 67 homes sold so far in 2021.

Home values within the County’s neighborhoods saw an upward trend through Q2 of 2021. Communities such as the City of Boulder and Arvada have both experienced upticks in home prices. In Boulder, the average price for a home through June was $1,093,936, a 16.9% increase and in Arvada, homes sold for an average price of $566,398, a 17.4% increase, during the same time period.

As a top destination for homebuyers, Boulder’s real estate market will continue to see growth in its market activity and strengthening of home values. With an enviable lifestyle, an active real estate market, and an incredible community, Boulder County is sure to continue drawing consumers to its cities for years to come.

BOULDER COUNTY January through June

2020

2021

% Change

New Listings

3,281

3,289

0.2%

Sold Listings (All Properties)

2,080

2,711

30.3%

1,445

1,842

27.5%

589

869

47.5%

67

57

-14.9%

$671,398

$850,630

26.7%

98.3%

102.1%

3.9%

$1,396,508,599

$2,306,058,451

65.1%

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

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.

coloradomicroreports.com

BOULDER VALLEY NEIGHBORHOODS

1.

Arvada

2. Boulder County Plains

6. East Boulder & Gunbarrel

11. Louisville

16. Superior

7.

Erie/Southwest

12. Lyons

17. University Hill &

Weld County

13. Mountain & Canyon

3. Broomfield 4. Central Boulder &

8. Foothills Communities

Communities

Historic District

9. Lafayette

14. North Boulder

5. Downtown Boulder

10. Longmont

15. South Boulder

Chautauqua 18. Westminster

12

8

10

14

2

7 6

13

5

4

17

15

1 16 18 11

9 3

MICROMARKET REPORT | Boulder Valley livsothebysrealty.com

JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM

ARVADA

January through June

2020

2021

% Change

$482,268

$566,398

17.4%

58

38

-34.5%

$1,282,000

$3,025,000

136.0%

1,154

1,319

14.3%

100.0%

104.9%

4.9%

Total Sold Sales Volume

$556,537,160

$747,078,874

34.2%

January through June

2020

2021

% Change

New Listings

1,340

1,344

0.3%

Sold Listings (All Properties)

671

1,108

65.1%

Sold Single Family

375

614

63.7%

Sold Condo

294

494

68.0%

70

60

-14.3%

$936,189

$1,093,937

16.9%

97.6%

101.0%

3.5%

Average Price Average Days on Market Highest Price Properties Sold

BOULDER COUNTY PLAINS

BOULDER (CITY)

% Sold Price to List Price

65.1%

The number of properties sold in

Boulder increased by 65.1% January

Average Days on Market

through June 2021 compared to that of

Average Price

2020.

% Sold Price to List Price

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

2020

2021

% Change

$551,243

$690,010

25.2%

70

50

-28.6%

$3,500,000

$6,650,000

90.0%

1,042

1,124

7.9%

98.8%

102.0%

3.2%

$574,395,134

$775,570,887

35.0%

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

2021

% Change

$548,145

$637,563

16.3%

31

42

35.5%

$3,500,000

$2,350,000

-32.9%

525

624

18.9%

99.7%

103.6%

3.9%

Total Sold Sales Volume

$287,776,010

$397,839,013

38.2%

January through June

2020

2021

% Change

$1,237,628

$1,528,616

23.5%

77

79

2.6%

$5,910,000

$6,400,000

8.3%

100

187

87.0%

98.6%

99.2%

0.6%

$123,762,810

$285,851,172

131.0%

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

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

23.5% The average price in Central & Historic Boulder increased by 23.5% January through June 2021 compared to that of 2020.

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

2020

2021

% Change

$1,142,554

$1,051,985

-7.9%

99

88

-11.1%

$2,600,000

$4,000,000

53.8%

21

29

38.1%

95.5%

96.5%

1.0%

$23,993,632

$30,507,567

27.1%

DOWNTOWN BOULDER

January through June

CENTRAL & HISTORIC BOULDER

2020

BROOMFIELD

January through June

The average days on market in East Boulder

FOOTHILLS COMMUNITIES

Average Price Average Days on Market Highest Price

2020

2021

% Change

$697,568

$761,669

9.2%

69

49

-29.0%

$7,400,000

$3,925,000

-47.0%

238

414

73.9%

97.3%

103.1%

6.0%

& Gunbarrel decreased by 47.0% January

Properties Sold

through June 2021 compared to that of

% Sold Price to List Price

2020.

Total Sold Sales Volume

$166,021,253

$315,331,096

89.9%

January through June

2020

2021

% Change

$472,718

$556,412

17.7%

51

49

-3.9%

$1,450,000

$2,215,000

52.8%

636

836

31.4%

99.5%

102.9%

3.4%

$300,648,750

$465,160,052

54.7%

ERIE/SOUTHWEST WELD COUNTY

EAST BOULDER & GUNBARREL

47.0%

January through June

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

Erie, Frederick, Firestone, Dacono

50.4% The number of properties sold in the Foothills Communities increased by 50.4% January through June 2021 compared to that of 2020.

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

2020

2021

% Change

$997,103

$1,203,923

20.7%

130

61

-53.1%

$8,000,000

$7,900,000

-1.3%

565

850

50.4%

97.6%

100.7%

3.1%

$563,363,406

$1,023,334,422

81.6%

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

% Change

$570,979

$700,566

22.7%

52

48

-7.7%

$2,500,000

$2,850,000

14.0%

194

269

38.7%

99.2%

104.2%

5.0%

Total Sold Sales Volume

$110,769,909

$188,452,237

70.1%

January through June

2020

2021

% Change

$491,357

$612,444

24.6%

63

39

-38.1%

$3,500,000

$6,650,000

90.0%

782

848

8.4%

98.9%

102.6%

3.7%

Total Sold Sales Volume

$384,240,811

$519,352,574

35.2%

January through June

2020

2021

% Change

$653,108

$813,040

24.5%

64

27

-57.8%

$1,775,000

$2,700,000

52.1%

148

148

-

99.8%

105.4%

5.6%

$96,660,039

$120,329,951

24.5%

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

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

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

22.7% The average price in Lafayette inecreased by 22.7% January through June 2021 compared to that of 2020.

52.1% The highest price in Louisville increased by 52.1% January through June 2021 compared to that of 2020.

LOUISVILLE

2021

LONGMONT

2020

LAFAYETTE

January through June

January through June

2020

2021

% Change

$547,718

$773,620

41.2%

83

68

-18.1%

$899,900

$1,750,000

94.5%

38

33

-13.2%

98.2%

100.6%

2.4%

Total Sold Sales Volume

$20,813,300

$25,529,455

22.7%

January through June

2020

2021

% Change

$513,428

$634,483

23.6%

66

89

34.8%

$2,470,000

$4,365,000

76.7%

60

105

75.0%

96.5%

100.1%

3.7%

$30,805,689

$66,620,692

116.3%

LYONS

Average Price Average Days on Market Highest Price Properties Sold

NORTH BOULDER

MOUNTAIN & CANYON COMMUNITIES

% Sold Price to List Price

75.0% The number of properties sold in the mountain and canyon communities increased by 75.0% January through June 2021 compared to that of 2020.

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

Nederland, Allenspark, Gilpin County

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

2020

2021

% Change

$961,369

$1,011,830

5.2%

65

54

-16.9%

$6,600,000

$7,900,000

19.7%

135

210

55.6%

97.8%

100.4%

2.7%

$129,784,759

$212,484,203

63.7%

% Change

$839,152

$996,411

18.7%

54

41

-24.1%

$2,950,000

$3,900,000

32.2%

111

145

30.6%

99.9%

103.8%

3.9%

Total Sold Sales Volume

$93,145,851

$144,479,619

55.1%

January through June

2020

2021

% Change

$629,125

$792,868

26.0%

52

51

-1.9%

$1,022,608

$1,630,499

59.4%

66

100

51.5%

99.6%

106.2%

6.6%

Total Sold Sales Volume

$41,522,278

$79,286,795

91.0%

January through June

2020

2021

% Change

$1,388,094

$1,612,792

16.2%

70

67

-4.3%

$3,700,000

$4,400,000

18.9%

26

67

157.7%

96.9%

99.6%

2.7%

$36,090,434

$108,057,071

199.4%

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

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

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

24.1% The average days on market in South Boulder decreased by 24.1% January through June 2021 compared to that of 2020.

59.4% The highest price in Superior increased by 59.4% January through June 2021 compared to that of 2020.

UNIVERSITY HILL & CHAUTAUQUA

2021

SUPERIOR

2020

SOUTH BOULDER

January through June

WESTMINSTER

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

2020

2021

% Change

$414,423

$500,772

20.8%

17

36

111.8%

$1,600,000

$1,807,500

13.0%

815

948

16.3%

100.3%

105.5%

5.2%

$337,754,467

$474,732,072

40.6%

04 07 28 300 350+ NATIONAL PARKS

MOUNTAIN RANGES

AVG DAYS OF SUNSHINE

SKI AREAS & RESORTS

CRAFT BREWERIES

MICROMARKET REPORT | Boulder Valley JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM