NEWL ANDS
PorchLight Real Estate Group 2500 Broadway Boulder, CO 80304 Each Office Independently Owned and Operated.
NEIGHBORHOOD August 2020 Real Estate Market Report
303.748.3336
kimhullett@porchlightgroup.com
REALTOR®, Broker | PorchLight Real Estate Group
COMPARING 2020ARETO 2008 THEY DIFFERENT? COVID-19 has had a large effect on the economy – so much so that you might have heard talks of our country entering another recession. Due to the severity of the 2008 financial crisis and the ensuing recession, the term stirs up a lot of emotions for many, especially when it comes to the real estate market. Annual Home Price Appreciation
Inventory and Appreciation
12.5%
In the years leading up to the housing market crash, home price appreciation (the increase in value of houses) was out of control. Homes simply became too expensive for buyers to afford, which became a contributing factor to the crash. The price of homes is still high today, but it’s risen at a more stable level. Inventory is at a low in most markets, causing a surge in demand.
Then...
Source: Freddie Mac
11.4%
8.5% 8.7%
8.6% 6.5%
4.4%
5.2% 5.5%
6.4% 4.8% 4.7%
The 6 Years Leading up to The Housing Crash
The Last 6 Years
2000 2001 2002 2003 2004 2005
2014 2015 2016 2017 2018 2019
Use of Home Equity
Total Home Equity Cashed Out by Refinance in Billions
Source: Black Knight
Now...
Year
Dollars
Year
Dollars
2005
$263B
2017
$71B
2006
$321B
2018
$87B
2007
$240B
2019
$89B
Total
$824B
Total
$247B
Prior to the housing crisis, many homeowners were using cash-out refinances to supplement their cash flow, meaning they were tapping into their home’s equity as soon as it built up enough rather than letting it grow and build their overall wealth. This put many homeowners in a negative equity position when the housing bubble burst; they owed more on their home than it was actually worth.
PREPARED ESPECIALLY FOR
Future Friends and Neighbors
PRESENTED BY KIM HULLETT YOUR NEWL ANDS NEIGHBORHOOD REALTOR ®
&
NEIGHBOR
www.NewlandsNeighborhoodHomes.com Future Friends and Neighbors, Now is a great time to sell your home! Interest rates are still extremely low, and I employ a number of ways to keep the selling process safe. If you’re ready to talk about these unique opportunities, call me today at 303.748.3336. Source: www.watersongmortgage.com
5-STAR ZILLOW REVIEW HIGHLY RECOMMENDED
303.748.3336
kimhullett@porchlightgroup.com
AT A GLANCE
16
86
Homes Recently Sold
Average Days on Market
"My wife and I HIGHLY recommend working with Kim Hullet. She encompasses what customers need in a Realtor — strong negotiator, great imagination, knowledgeable about the market, responsive, great attention to detail and looks out for the best interest for us. She is also very easy to talk to, personable and a genuine person."
Current Activity in Newlands Active
Pending
Sold
NEWLANDS MARKET REPORT
AUGUST 2020
Future Friends and Neighbors,
This market report was created especially for you. To have your home professionally marketed and featured in my publication, which is mailed to hundreds of potential buyers, call me today at 303.748.3336. Newlands Homes Currently Listed Status Active Active Active Active Active Active Active Active Active Active Active
Street Name Broadway Street Iris Avenue 9th Street 5th Street 3rd Street 5th Street 4th Street Juniper Avenue 10th Street Juniper Avenue 4th Street
Beds 3 3 4 4 4 5 4 5 6 5 6
Baths 3 2 4 4 3 4 4 5 6 6 6
Approximate Sq. Ft.* 1,700 1,300 3,300 5,300 4,200 4,100 5,000 5,400 4,200 5,200 5,400
Year Built 2007 1954 1909 2003 1991 2007 2008 2006 2020 2020 2003
List Price $950,000 $999,000 $2,075,000 $2,600,000 $2,800,000 $2,800,000 $3,500,000 $3,550,000 $3,885,000 $4,995,000 $5,500,000
There are seven homes currently taking back-up offers and one home pending in Newlands. For more information on any of these listings, please call Kim today at 303.748.3336.
97.2% Average Sold Price/List Price Ratio
589
$
Average Price per Square Foot
Highest Sold Price
$4,450,000
Average Sold Price
$2,104,625
Lowest Sold Price
$975,000
A visual representation of the data on the right. Data deemed accurate but not guaranteed. For full details, please give Kim a call today. ©2020 Google.
Newlands Homes Sold Since June 1st, 2020 Status Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold
Address 425 Hawthorn Avenue 715 Forest Avenue 810 Hawthorn Avenue 3065 9th Street 2847 4th Street 2699 4th Street 3545 Broadway Street 1050 Grape Avenue 3305 4th Street 1100 Juniper Avenue 2827 11th Street 3056 6th Street 775 Kalmia Avenue 625 Iris Avenue 3021 3rd Street 3189 6th Street
Beds 4 4 3 5 5 N/A 6 3 4 4 5 3 4 3 7 4
Baths 3 4 2 4 3 N/A 5 3 4 6 4 1 7 2 5 4
Approximate Sq. Ft.* 2,500 4,200 1,500 3,700 3,500 N/A 5,100 2,400 3,800 5,300 4,500 1,600 8,500 1,400 5,200 4,500
List Price $1,750,000 $2,625,000 $1,095,000 $2,150,000 $2,350,000 $1,495,000 $1,775,000 $1,200,000 $2,195,000 $2,650,000 $2,660,000 $959,000 $4,995,000 $1,085,000 $2,995,000 $2,800,000
Listed and/or Sold by Kim Hullett. Sold Price $1,750,000 $2,550,000 $1,045,000 $2,124,000 $2,400,000 $1,350,000 $1,660,000 $1,200,000 $2,285,000 $2,600,000 $2,660,000 $975,000 $4,450,000 $975,000 $2,850,000 $2,800,000
Sold Date 08/07/20 07/27/20 07/20/20 07/20/20 07/17/20 07/15/20 07/10/20 07/02/20 06/26/20 06/26/20 06/26/20 06/24/20 06/17/20 06/15/20 06/05/20 06/02/20
Days on Market 40 45 40 33 30 248 110 45 23 135 15 7 492 84 30 1
Kim Hullett and PorchLight Realty are not in any way affiliated with Newlands Owners Association, nor is this in any way an official advertisement or publication of Newlands. © 2020 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the IRES MLS between June 1st, 2020 and August 10th, 2020. Listings and sales may not be those of PorchLight Realty. The IRES MLS does not guarantee the accuracy of this data, which may not reflect all the real estate activity in the area. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. *Approximate square feet has been rounded to the nearest hundred. For full details call Kim today at 303.748.3336.