Boulder Q3 2019 Micro Market Report

MICROMARKET REPORT |

Boulder • Q3 2019

BOULDER COUNTY NEIGHBORHOODS 15

3

1.

Mountain & Canyon Communities

2.

Foothills Communities

3. Lyons 4.

2

5. Downtown

10

14

4

North Boulder

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

16. Broomfield

8

13 16 18 11 17 12

17. Westminster 18. Arvada

Pictured on cover: 55 Baxter Farm Lane, Boulder

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BOULDER market update Sitting at the base of the famous Flatiron rock formations, Boulder County has all the amenities of a more metropolitan area with a small-town feel.

The community, which is made up of 18 different neighborhoods, gives its residents a balance between proximity to unbeatable outdoor activities as well as access to shopping and dining options.

LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder County, the unique neighborhoods within it, and the areas immediately surrounding it. The report examines key performance indicators from January through September of this year and compares them to the same time frame in 2018. Across all neighborhoods, Boulder County has seen a 9.9% increase in new listings. In addition to the new properties that came onto the market, the county also had a 1.5% increase in total sales volume.

BOULDER COUNTY

Specific neighborhoods within Boulder County also saw an increase in activity thus far in 2019. Property prices in South Boulder grew by 16.6%, making the average home price in the neighborhood approximately $924,641, as compared to 2018 when the average price was $792,755.

Other communities, such as Boulder County Plains, experienced shorter days on market. Average days on market for the area fell 41.8%, lowering the average time a home spends on the market from 110 days back in 2018, down to 64 days. Other areas saw increases in the number of properties sold. In the city of Louisville, 14.4% more homes sold so far this year than Q1 through Q3 of last year.

January through September

2018

% Change

2019

New Listings

5,129

5,635

9.9%

Sold Listings (All Properties)

3,717

3,755

1.0%

Sold Single Family

2,617

2,683

2.5%

Sold Condo

1,100

1,072

-2.5%

58

63

8.6%

$660,399

$664,479

0.6%

99.0%

98.0%

-1.0%

$2,371,710,263

$2,407,608,543

1.5%

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

With good opportunities for both buyers and sellers, Boulder County continues to be a top destination for those looking to live the true Colorado lifestyle.

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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 2019 • COLORADOMICROREPORTS.COM

CITY OF BOULDER January through September

2018

2019

% Change

New Listings

1,925

2,159

12.2%

Sold Listings (All Properties)

1,342

1,245

-7.2%

Sold Single Family

776

735

-5.3%

Sold Condo

566

510

-9.9%

59

67

13.6%

$883,265

$918,211

4.0%

98.0%

97.0%

-1.0%

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

12.2%

The number of new listings sold for the City of Boulder increased by 12.2% January through September 2019 compared to that of 2018.

CENTRAL & HISTORIC BOULDER January through September

2018

2019

Average Price

$1,091,344

$1,149,602

5.3%

58

56

-3.4%

$5,200,000

$7,200,000

38.5%

178

188

5.6%

99.0%

97.0%

-2.0%

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

% Change

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

DOWNTOWN BOULDER January through September

2018

2019

Average Price

$1,236,104

$1,422,464

15.1%

91

124

36.3%

$5,500,000

$2,495,000

-54.6%

31

20

-35.5%

99.0%

94.0%

-5.1%

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

% Change

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

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UNIVERSITY HILL & CHAUTAUQUA University Hill is an eclectic area across from the University of Colorado campus, home to many shops, lively bars, and plenty of dining options.

January through September

2018

2019

Average Price

$1,450,441

$1,351,712

-6.8%

75

80

6.7%

$4,750,000

$3,900,000

-17.9%

96

94

-2.1%

99.0%

95.0%

-4.0%

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

% Change

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

10.9%

The highest price for South Boulder increased by 10.9% January through September 2019 compared to that of 2018.

SOUTH BOULDER January through September Average Price

2018

$924,641

16.6%

49

57

16.3%

$3,290,000

$3,650,000

10.9%

179

173

-3.4%

99.0%

98.0%

-1.0%

Properties Sold % Sold Price to List Price

% Change

$792,755

Average Days on Market Highest Price

2019

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

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

2018

2019

% Change

$853,548

$884,604

3.6%

55

75

36.4%

$3,200,000

$4,500,000

40.6%

31

29

-6.5%

99.0%

97.0%

-2.0%

1233 Cedar Ave, North Boulder

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EAST BOULDER & GUNBARREL January through September Average Price

2018

$682,611

6.1%

51

60

17.6%

$3,380,000

$4,761,819

40.9%

439

385

-12.3%

99.0%

98.0%

-1.0%

Properties Sold % Sold Price to List Price

% Change

$643,644

Average Days on Market Highest Price

2019

4863 Hopkins Place, East Boulder

LOUISVILLE January through September Average Price

2018

$643,637

-1.6%

54

50

-7.4%

$1,790,000

$2,000,000

11.7%

208

238

14.4%

100.0%

98.0%

-2.0%

Properties Sold % Sold Price to List Price

% Change

$654,077

Average Days on Market Highest Price

2019

7.4%

The average days on market for Louisville decreased by 7.4% January through September 2019 compared to that of 2018.

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

2018

2019

% Change

$551,001

$620,021

12.5%

69

51

-26.1%

$972,000

$1,371,000

41.0%

146

151

3.4%

100.0%

99.0%

-1.0%

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LAFAYETTE January through September Average Price

2018

$570,718

1.9%

40

56

40.0%

$1,850,000

$2,125,000

14.9%

347

361

4.0%

100.0%

98.0%

-2.0%

Properties Sold % Sold Price to List Price

% Change

$560,256

Average Days on Market Highest Price

2019

2424 Ginny Way, Lafayette

85.2%

January through September 2019, the highest price in Erie increased by 85.2% compared to that 2018.

ERIE/SOUTHWEST WELD COUNTY January through September Average Price

2018

$426,896

3.8%

51

53

3.9%

$1,215,000

$2,250,000

85.2%

1,192

1,022

-14.3%

99.0%

99.0%

0.0%

Properties Sold % Sold Price to List Price

% Change

$411,399

Average Days on Market Highest Price

2019

Frederick, Firestone, Dacono

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

2018

2019

% Change

$478,516

$471,443

-1.5%

56

63

12.5%

$4,000,000

$2,975,000

-25.6%

1,271

1,336

5.1%

99.0%

98.0%

-1.0%

1868 Meadow Vale Road, Longmont

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2019 • COLORADOMICROREPORTS.COM

LYONS January through September Average Price

2018

$588,324

-2.2%

96

82

-14.6%

$2,400,000

$1,460,000

-39.2%

95

67

-29.5%

96.0%

97.0%

1.0%

Properties Sold % Sold Price to List Price

% Change

$601,343

Average Days on Market Highest Price

2019

Lyons is sometimes referred to as the “Double Gateway to the Rockies,� and is known for its unique art, major folk and bluegrass music festivals, and mountain recreation.

BOULDER COUNTY PLAINS January through September Average Price

2018

$1,217,204

6.6%

110

64

-41.8%

$3,124,400

$7,200,000

130.4%

106

93

-12.3%

97.0%

99.0%

2.1%

Properties Sold % Sold Price to List Price

% Change

$1,141,649

Average Days on Market Highest Price

2019

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

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

2018

2019

% Change

$920,845

$1,271,778

38.1%

89

102

14.6%

$3,000,000

$5,779,000

92.6%

47

37

-21.3%

96.0%

98.0%

2.1%

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

38.1%

The average price for the Foothills Communities increased by 38.1% January through September 2019 compared to that of 2018.

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37.8%

January through September 2019, the average days on market in the Mountain & Canyon Communities decreased by 37.8%.

MOUNTAIN & CANYON COMMUNITIES January through September Average Price

2018

$498,940

3.8%

127

79

-37.8%

$1,640,000

$1,330,000

-18.9%

107

104

-2.8%

97.0%

97.0%

0.0%

Properties Sold % Sold Price to List Price

% Change

$480,893

Average Days on Market Highest Price

2019

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

BROOMFIELD January through September Average Price

Founded in 1877, Broomfield offers a variety of housing options from affordable starter homes to million dollar mansions suitable for any buyer.

2018

$507,723

3.0%

30

29

-3.3%

$3,375,000

$2,500,000

-25.9%

890

973

9.3%

100.0%

99.0%

-1.0%

Properties Sold % Sold Price to List Price

% Change

$492,832

Average Days on Market Highest Price

2019

WESTMINSTER January through September

2018

2019

Average Price

$376,156

$391,330

4.0%

18

20

11.1%

$2,235,000

$1,750,000

-21.7%

1451

1452

0.1%

100.0%

100.0%

0.0%

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

% Change

10037 Hooker Street, Westminster

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ARVADA January through September

2018

Average Price

$427,003

$452,809

6.0%

24

25

4.2%

$1,825,000

$1,230,000

-32.6%

1974

2041

3.4%

101.0%

100.0%

-1.0%

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

2019

% Change

12791 W 74th Drive, Arvada

NUMBER OF DAYS OF SUNSHINE: 300

BOULDER COUNTY PARKS: 60

ACRES OF PRESERVED OPEN SPACE: 45,000

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DESIGN.

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SHOP.

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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.