Boulder Valley | Year End 2020
There are few communities as exciting as those in the Boulder Valley. This collection of communities at the base of the Rocky Mountains offers its residents a life filled with variety. Here your days can consist of heading outdoors to explore the more than 150 miles of trails and 45,000 acres of open space, including the Chautauqua Park and the iconic Flatiron rock formations, or strolling down Pearl Street to sample some of the finest dining and shopping Colorado has to offer. Located just 40 minutes north of Denver, Boulder combines the tight-knit community feel of a small town with the amenities and activities one might find in a bustling metropolis, all within reach of the great outdoors. For these reasons, Boulder has become a top choice for consumers in search of their dream home – especially with health and wellness playing a more important part in the decision-making process for many homebuyers.
LIV Sotheby’s International Realty produces a Micro Market Report focused on Boulder Valley and each of the unique neighborhoods within it. The report examines key performance indicators from 2020 and compares them to 2019. Across all neighborhoods, the area has seen a 4.7% increase in the number of properties sold during 2020. Additionally, the average sold price for homes rose by 7%. As a result of these increases, the total dollar volume sold grew 12%, totaling $3,603,242,260.
Many neighborhoods within Boulder and its nearby communities experienced increases in the number of properties sold in 2020, compared to 2019. In the Mountain and Canyon communities there were 32.2% more homes sold than there were in 2019, growing from 146 homes sold in 2019 to 193 homes sold last year. Downtown Boulder also experienced an influx of home sales, increasing the number of sold homes by 28.6%. In 2020, there were 36 homes sold in this neighborhood compared to 2019 when 28 homes were sold.
In addition to more properties being sold, average home prices have shown an upward trend in certain areas of Boulder as well. Properties in the University Hills and Chautauqua increased by an impressive 17.5%, reaching an average price of $1,523,710. In the nearby City of Arvada, the average price rose by 16.5%. Homes in this town sold for an average price of $519,681 in 2020.
Increased levels of demand of Boulder area homes resulted in a decrease in the average days on market for various neighborhoods. This trend can be seen in the Foothills Communities, which includes Pinebrook Hills, Boulder Heights, Lake of Pines, Jamestown, and Eldorado Springs, where the average days on market for homes dropped from 87 days to 64 days, a 26.4% decrease. The Cities of Broomfield and Westminster each experienced a 50% decrease in average days on market, bringing the typical time on market to 21 days and 14 days respectively.
Although the Boulder Valley area has been a longtime favorite for homebuyers in Colorado, it appears that its popularity only continues to grow as more consumers place a heavier focus on homes that will cater to their desired lifestyle.
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.