Boulder Valley | Quarter 1 2021
Despite the various challenges faced during 2020, the beautiful Boulder community continued to provide opportunities for consumers to reach their financial and lifestyle goals through real estate. Nestled at the base of the Rocky Mountains, this close-knit community boasts a culture that focuses on the outdoors, local artisans and businesses, and enjoying all that Colorado has to offer. For those reasons, many homebuyers have chosen to make Boulder their primary or secondary home, stimulating the real estate market and giving people the chance to live a life they truly love.
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 Q1 of 2021 and compares them to the same time period of 2020. Across all neighborhoods, Boulder County has seen a 7.8% increase in total sales volume. While fewer homes entered the market during the first quarter of the year, the demand for available homes resulted in appreciating prices. The average price for homes in the area rose 14.6%, bringing the average price to $787,932 through March of this year.
Out of all of the neighborhoods within Boulder County, the Foothills communities saw the most impressive rise in the number of homes sold, increasing by 116.7% from Q1 of 2020 when six homes were sold, to Q1 of 2021 when 13 homes were sold. Other areas that proved to be popular locations to buy homes within Boulder include University Hill and Chautauqua, where the number of homes sold rose from 20 through March of 2020 to 30 through March of this year. This area is highly coveted for its proximity to the trails and natural spaces at Chautauqua Park and the famous Flatirons.
The Boulder County Plains communities experienced the largest increase in average price, increasing by 34.5% in Q1 of 2021 compared to the same time frame in 2020. The average price for a home in this area is $1,324,014, up from Q1 of 2020 when the average price was $984,350.
Elevated demand for homes within the Boulder community has resulted in many homes spending less time on the market. For example, listings in Downtown Boulder spent an average of 16.2% less time on the market, decreasing from 111 days on market in Q1 of 2020 to 93 days on market through Q1 of this year. Louisville saw one of the more significant decreases in days on market, decreasing by 50.6%, leaving most listings on the market for just 41 days.
For those looking for rich community culture and closeness to nature, Boulder is one of the best communities along the Front Range to buy and sell homes.
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.