Boulder | Q3 2020
Recently ranked as the number one city to live in the country by U.S. News & World Report, Boulder and its surrounding neighborhoods are a lively community filled with thriving businesses, beautiful outdoor spaces, and a diverse mix of people. With more than 150 miles of trails and 45,000 acres of open space to explore, it’s no wonder why Boulder County is one of the healthiest communities in the nation. The active lifestyle is just one of many aspects that attract so many people to Boulder. Similar to Denver Metro, which is located just 40 minutes south, Boulder is seeing a boom in real estate activity amidst the pandemic. For many, the access to nature and quality of life found here is simply irresistible. For that reason, buying and selling activity in the Boulder community has increased at an impressive rate.
LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder County and each of the unique neighborhoods within it. The report examines key performance indicators from January through September of 2020 and compares them to the same time period of 2019. Across all neighborhoods, Boulder County has seen a 1.9% increase in the amount of properties sold through Q3 of this year. Additionally, the average sold price for homes in the area rose by 4.6%. As a result of these increases, the total dollar volume sold grew 6.6%, totaling $2,614,653,408.
Many neighborhoods within Boulder and its nearby communities experienced increases in the number of properties sold through September of this year, compared to 2019. In the Mountain and Canyon communities there were 32% more homes sold than there were January through September of last year. The City of Boulder also experienced an influx of home sales, increasing the number of sold homes by 6.6%.
In addition to more homes being sold, average home prices have shown an upward trend in Boulder as well. Properties within North Boulder increased in price by 8.6%, reaching an average price of $964,163. In Longmont, the average price rose by 8.2% which makes homes in this neighborhood sell for an average price of $516,013.
Days on market is an important indicator that shows how quickly homes are selling. In Downtown Boulder, the average days on market decreased by 29.8%, dropping from 124 days to 87 days. The Foothills Communities, which include Pinebrook Hills, Boulder Heights, Lake of Pines, Jamestown, and Eldorado Springs, saw a 27.2% decrease in the average days on market. Homes in these neighborhoods are selling within an average of 59 days.
Boulder is an incredible place to live with convenient access to culture, city life, and captivating mountain views. The real estate market in this area continues to show signs of strength and growth as it attracts more consumers to its thriving communities.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Central Boulder, East Boulder, Gunbarrel, Mapleton Hill, Newlands, Niwot, Northeast Boulder, Northwest Boulder, South Boulder, Southeast Boulder, and Southwest Boulder.