Boulder County Archives - DUNBAR HARDYDUNBAR HARDY

Category: Boulder County (34)

Mar

BOULDER PLANNING DEPARTMENT IS BUSY!

The City of Boulder Planning Department is quite busy these days. Wrestling with recent dialogue related to new construction height ordinances (CLICK HERE!), as well as affordable housing, and guiding numerous new developments.

FOR MORE INFORMATION & UPCOMING MEETINGS AGENDA, CLICK HERE!

Mar

BOULDER COUNTY HOUSING MARKET – INCREDIBLY COMPETITIVE!

The Boulder housing market is incredibly competitive as a result of ~10-year lows in available inventory. Competitive offers for buyers and lower days on market for sellers is the current norm. One factor that is also driving this downward trend of properties for sale is the tangible equity gains for homeowners.

Here are statistics for Boulder County outlining the last 12-month appreciation rates:

Appreciation numbers for single family homes comparing end of year 2013 with 2014. Based on average sales price Boulder: +8.5% Louisville: +7.8% Lafayette: +4.7% Longmont: +7.5% Suburban Plains: +6% Suburban Mountains: -1.8% Superior:- +8.6% Boulder County: +5.6% Attached Dwelling - Average Sales Price 2013 vs. 2014. Boulder: +3.5% Louisville: +9.6% Lafayette: +16.6% Longmont: +8.9% Suburban Plains: +.1% No mountain attached dwelling units Superior: +28.8% (This large jump in prices is due to the Calamante Development coming online and skewing the price, not based on all attached units increasing this amount.) Boulder County: +5.6% All information from IRES MLS from Jan. 6, 2015.

For more information, CLICK HERE!

Feb

FEBRUARY 2015 – BOULDER COUNTY MARKET INSIGHTS

February/2015 At the end of December/2011, there were 1,121 single-family home listings available for sale across Boulder County. That number shrank to 814 at the end of December/2012; 679 at the end of December/2013; and 678 at the end of December/2014. Thus we begin our fourth year of a listing drought in Boulder County. There are pluses and minuses to the impact of a reduction in available housing inventory. On the plus side, scarcity creates demand, which in turn results in an increase in home values. Builders sense buyer pent-up demand and churn up ground for new homes, characterized by small lots and populated by pocket parks strewn throughout the subdivision. On the minus side, buyers often find themselves in a position where they can neither dictate a strong negotiating position nor dally in making a decision, as other buyers may come swooping in. To the victor belong the spoils, with the spoils meaning goods or benefit taken from the loser in a competitive situation. From a pricing perspective, homes at an entry to mid-range price point sell the quickest, simply because there are more buyers in those price ranges. These buyers occupy three different levels of interest: (1) Entry Level (first-time buyers); (2) Move Up (buyers who need more room; normally due to a growing family); (3) Move Down (buyers who need less space; normally due to a dwindling family; the empty nester syndrome). As the housing price point increases, the number of prospective buyers decreases. For Boulder County, an example of this is homes priced at a million dollars and up. At the end of December/2014 there were 141 active single family home listings on the market for sale priced at a million dollars and up. There were 245 single family homes sold in Boulder County in 2014 priced at a million dollars and up. That resulted in an Absorption Rate of approximately 149 days or slightly less than five months. The Absorption Rate in 2014 for homes priced under a million dollars in Boulder County was 65 days. (In January/2015 there were nine single family home sales priced at a million dollars and up. There are 141 active single family home listings in that price range. The resulting Absorption Rate is 554 days.) 2015 promises to look a lot like 2014. Available inventory for Boulder County will continue to expand as the waning days of winter give way to spring. At the end of January/2015 there were 700 active single family homes for sale in Boulder County; up slightly from the 678 active listings at the end of 2014. Home values will continue to increase, but are projected to rise more slowly. According to Forbes, nationally prices are near their spring 2005 levels. For Boulder County, 2005 was when the real estate market peaked. There were 4,193 single family home sales in 2005 (3,251 single family home sales in 2014) and 1,602 attached unit sales in 2005 (1,391 attached unit sales in 2014). New home construction continues to flourish across east Boulder County - Erie in particular, with in-fill construction going on in Boulder and pocket areas of Superior, Louisville, and Lafayette. Despite the increase in overall inventory, the vacancy rate for rental properties in Boulder County is around 3.3% (Apartment Association of Metro Denver). Look for rental rates to continue to increase in 2015.

FOR ADDITIONAL INFORMATION, CLICK HERE!

DunbarHardy-MarketReport0215

Oct

NEW LISTING – 185 2nd. Avenue #A, Lyons!

AMAZING VIEWS - SUNNY SOUTHWEST ORIENTED END-UNIT! Greeted by a peaceful covered front porch, enjoy very bright & open south-exposed main level floor plan w/ hardwood floors, main floor Master BD w/ Master Bath. Kitchen w/stainless appliances & gas range w/island counter. Relax & enjoy private upper level deck overlooking park land & mountains. BUILT-GREEN w/Solar Hot Water Heat. Private fenced backyard. Lyons Valley Village co-housing. Walk miles of trails, walk downtown, enjoy organic gardening, or simply enjoy the views! Yes!! 3BD/3BA, 1,59 Sq Ft , Detached 1-Car Garage, BUILT-GREEN in 2007

For more property information CLICK HERE!

To download a property flier, CLICK HERE!

Jul

2nd Quarter 2014 Boulder County Sales Stats

Happy Summer! The heat & hustle of summer is definitely upon us here in Boulder County. Scarce inventory still is a consistent theme. New properties placed on the market can anticipate strong interest and market response in the first 1-2 weeks they are for sale, otherwise a tone of "missing the market" price-wise occurs. With limited inventory overall, sales are down year over year. However, many of the deals that are getting done have had competing offers and/or strong efforts within the transaction to "hold it all together" to navigate the give & take between buyers & sellers to successfully close. A number of transactions are contracted as "coming soon" or for-sale-by-owners, and off-market properties which require a lot of hunting down inventory on my side, thus the "hustle season" as we end the 2nd quarter of the year. Lastly, with increased demand for properties, values are indeed climbing and equity is being gained for Boulder County property owners. Here is wishing you a great end of summer and 3rd quarter, as well as a sincere appreciation for referring me to anyone with any Boulder County real estate needs. Thank you! Take care out there. -Dunbar Hardy

To download 2nd Quarter 2014 Newsletter, CLICK HERE!

AVERAGE INVENTORY

Still slim pickins'! Across the board throughout all Boulder County communities and covering both detached homes & condos/townhomes, the number of properties for sale is down modestly year over year, but significantly down since 2010. In fact there are almost 50% less Boulder hems for sale this year compared to 2010 & 2011 2nd quarter. Simply said, there is less for sale throughout all of Boulder County this year. There is not an anticipation for significantly more inventory for sale over the next 2 quarters of the year, as we are now past our peak sales season and even new construction projects will not keep up with the buyer demand.

QUANTITY OF HOMES SOLD

Less sales! Overall we are seeing a noticeable trend of less successful sales this year compared to 2013. This is largely due to simply less properties for sale and the inventory crunch than buyers not buying. Boulder-specific homes sales are down (7.7%) this year compared to last as an example of limited inventory (1,227 sold 2014 vs. 1,329 sold in 2013).

AVERAGE DAYS TO CONTRACT

Hustlin'! With such limited inventory, the speed of the market has maintained a fast pace with low days on market. Boulder condos/townhomes have actually outpaced Boulder houses overall. While Louisville and Superior houses have outpaced Boulder houses also. Overall all properties are experiencing less days on market this year compared to 2011 & 2012. It is also worth noting that 2nd quarter is indeed the "peak selling season" so properties do move fastest this time of year throughout all market areas.

AVERAGE SALES PRICE

Prices are climbing! There is a noticeable upward trend in average sold prices across Boulder County community homes sales specifically, with less so of an upward trend (maintaining value) in condo/townhome sales. Boulder houses averaged $800,000+ in sold prices for the 2nd quarter 2014. while condos/townhomes averaged $300,000+ in sold prices. Buyer demand, with limited inventory is driving these prices upward and we can continue to anticipate increases in average sold prices.

MEDIAN SALES PRICE

Noticeable appreciation & equity gains! Every single Boulder County community has seen increases in median sold prices of homes in the 2nd quarter of 2014 vs. 2013 and definitely since 2010. Boulder-specific homes median sold price is now $700,000.There is also a sharp increase in Lafayette-specific home values as well compared to 2013. While Boulder County condos/townhomes sold median values have largely maintained values this year compared to 2013, with Louisville condos/townhomes seeing the biggest increase in values.

Mar

SOLD – 296 CANYONSIDE DRIVE, BOULDER

Pleased to announce a successful sale of this super sunny close-in mountain home just above downtown Boulder. Literally ~5 minutes drive just up Boulder Canyon, this ~1,800 sq ft home set on 1 acre with south-facing exposure received multiple offers, and successfully closed last week after only 46 days on the market. The seller put this home on the market for the first-time ever in 30+ years and re-located to downtown Boulder living, while the buyers are re-locating from back east. Final sales price - $450,000

Jan

2013 Year-end BOULDER COUNTY SALES STATISTICS

Happy New Year!

I hope that this New Year has started well for you. I am wishing everyone in Boulder County affected by the floods form last Fall continued strength and support in recovery. In trying to dive into this new year with the increasing speed of the real estate market already this year, it is worth looking closely at how 2013 ended and what we can anticipate for 2014...

In summary, throughout all of Boulder County more properties sold in 2013 vs. 2012 and with less inventory for sale overall properties sold MUCH faster. There is also a noticeable increase in median sold prices across all Boulder County communities. Professionally, my own sales volume increased ~65% increase from year-end 2013 vs. 2012. It was a good year last year, and with one successful closing already this year 2014 looks to be even better!

Currently, as we are into the 1st quarter of this new year the major theme in the Boulder County real estate market is VERY limited inventory/properties for sale. So for owners, this can be a great time to sell your property. Interest rates for qualified buyers are still experiencing lows. Limited supply coupled with affordable financing means it will be a very busy or fast-paced year as I anticipate continued increases in sold values along with decreasing days on market for properties.

I sincerely appreciate the trust and confidence you have in me to assist you in successfully buying & selling Boulder County real estate. I am available to support your needs or answer any questions you may have. I am closely watching market statistics and properties on a daily basis to have the most accurate and current information to share. Please keep in touch or refer me to anyone who is looking for a pro-active teammate! Have a good beginning of 2014!

DUNBAR HARDY

A Full-Time Boulder County EcoBroker

To download 2013 YEAR-END BOULDER COUNTY SALES STATISTICS CLICK HERE!

AVERAGE INVENTORY - VERY slim pickins! Boulder County is experiencing ~7+ year lows in available properties for sale. This can clearly be seen in all communities and in both houses & condos/townhomes. 2013 ended with a ~17% decrease in Active properties for sale vs. year-end 2012 (679 vs. 814). Here is a dramatic 3-year trend specifically in Boulder: there were only 233 houses for sale at year's end in 2013 vs. 285 at year's end 2012 and 411 at year's end 2011. As we slip into the spring months and into the 2nd quarter, more properties will indeed be coming onto the market, but 2013 year-end statistics clearly show a steady decrease in properties for sale since 2010 (679 vs. 1,353).

QUANTITY OF HOMES SOLD - More properties sold in 2013 vs. 2012! There are noticeable increases in sold volume in all Boulder County communities. Specifically, single-family homes in Boulder sold were up 4.9% (809 vs. 768) and condos/townhomes sold were up ~20% (725 vs. 635) in Boulder in 2013 vs. 2012. This is positive momentum as we anticipate similar to increased sales volume in 2014 a along as properties come onto the market as we go into spring/early summer.

AVERAGE DAYS TO CONTRACT - Muy rapido! With limited inventory in 2013, the pace of the market picked up and the overall number of days on market noticeably decreased throughout all communities of Boulder County. Specifically for Boulder houses the overall average days on market for 2013 year-end was only 40 days vs. 76 days year-end 2012 and 89 days on market year-end 2011. In summary, this means that properties sold twice as fast in 2013 vs. 2011! Boulder condos dropped dramatically from 100 days on market in 2012 to 53 days on market in 2013!

AVERAGE SOLD PRICE - Gains! 2013 also ended with slight increases in the overall average sold prices throughout all of Boulder County. As a whole the local Boulder County market expanded with a 9.25% increase in the 2013 year-end average price of single-family homes vs. 2012 year-end. Boulder specifically had a 2013 average sold single-family home price of ~$755,500 (highest in the county) compared to ~$664,000 in 2012 vs. Longmont average sold single-family home price of ~$286,000 (lowest in the county) compared to ~$256,000 in 2012. Boulder condos average sold price was ~$320,000 in 2013 vs. ~$311,000 in 2012. Boulder County's average home price is ~$481,500 at year-end 2013.

MEDIAN SOLD PRICE - Values are going up! The true statement of the local market value is looking at the median prices, which is at what value/price did most sales occur. It can be seen that there were overall increases in median sold prices throughout all of Boulder County for 2013 vs. 2012. Specifically in Boulder, single-family homes median sold value in 2013 was ~$635,000 vs. ~$579,000 in 2012. Boulder condos median sold value for 2013 was ~$268,000 vs. ~$253,000 in 2012. Louisville homes 2013 median sold price was ~$425,000 vs. ~$400,000 in 2012. Equity is being gained across almost all communities and property types of Boulder County!

To download Dunbar's 2013 year-end newsletter CLICK HERE!

Jul

2ND QUARTER 2013 BOULDER COUNTY SALES STATISITCS

Happy Mid-Summer! Whew! The heat of summer is upon us, and it has been quite the hectic paced market. Wrapping up the 2^nd quarter and rolling right into the 3^rd quarter, Boulder County real estate is showing some definite positive trends. There are positive signals for increased numbers of successful sales (in both homes & condos/townhomes), a decreasing number of days on market, and noticeable increases in both average and median sold prices. So perhaps the tide is turning a bit, as prices are rising and interest rates on mortgages are increasing. Will these factors slow our local market at all? Regardless, it is apparent that more people are indeed re-locating to Boulder County as there are lower than state-average unemployment rates and lower than average vacancy rates on the rental side of things. Boulder County is indeed an amazing place to live, work and play and our real estate market is showing health and strength once again. I will continue to do all that I can to stay in front of the newest properties on the market and “Coming Soon” properties, as well as continue to monitor local market statistics. Please keep in touch if I can assist with your Boulder County real estate needs.

AVERAGE INVENTORY

AVERAGE INVENTORY - The number of new homes on the market has been very low (very noticeable from 2010 & 2011 highs) and lacking in many price points and locations throughout Boulder County. This one statistic has created multiple offers/bidding wars for new on the market properties within certain price points and neighborhoods. The lack of inventory has also created some very frustrated buyers who wish to buy but have been “losing out”. Right now is the busiest time of year with typically the most properties for sale, and it just feels like “slim pickings” out there still.

QUANTITY OF HOMES SOLD

QUANTITY OF HOMES SOLD - With fewer properties on the market overall, sales volume is still holding strong at the end of 2^nd quarter 2013 and in-line with increased sales from end of 2^nd quarter 2012. For Boulder proper, we have seen ~19% increase in condo/townhome sales (2^nd quarter 2012 vs. 2^nd quarter 2013). Deals are definitely getting done!

DAYS TO CONTRACT

DAYS TO CONTRACT - Not much to sell, but with more selling this means the pace is FAST! Across the board throughout the Boulder County communities in both houses and condos/townhomes the days to contract are seeing dramatic decreases. Boulder houses saw a 52% decrease (67 days to contract in 2^nd quarter 2012 vs. 32 days to contract in 2^nd quarter 2013). Buyer demand is exceeding seller supply and contracts are having to be written cleanly and quickly after typically only 1 showing at a property.

AVERAGE SOLD PRICE

AVERAGE SOLD PRICE - Sales prices are climbing! All over Boulder County we are seeing increases in the Average Sold Prices for both houses and condos/townhomes. Single-family houses in Boulder proper saw some tremendous gains (~21%) in average sold prices 2^nd quarter 2013 up to ~$788,000 vs. 2^nd quarter 2012 at ~$649,000, as more higher priced homes successfully closed. Also worth noting, Louisville houses saw a ~29% increase in average sold prices up to ~$529,000 in 2013 vs. ~$409,000 in 2012.

MEDIAN SOLD PRICE

MEDIAN SOLD PRICE - Values are rising! All Boulder County communities have seen increase in their median sold prices for homes 2^nd quarter 2012 vs. 2^nd quarter 2013. Boulder homes have seen a ~18% increase from ~$560,000 in 2012 vs. ~$663,000 in 2013 and Superior houses have seen a ~21% increase from ~$362,000 in 2012 vs. $$441,000 in 2013.

Jun

MAY 2013 YEAR-TO-DATE BOULDER COUNTY SALES STATISTICS

Well, the most recent stats are in showing what we are feeling - a fast-paced & busy sales season throughout Boulder County! In reviewing May 2013 Year-to-Date (YTD) sales statistics, it shows that the average days on market (DOM) specifically for Boulder homes has decreased 33% ( May 2012 @88 DOM YTD vs. May 2013 @59 DOM YTD). While Boulder homes median sales price has increased 4.5% (May 2012 YTD @$564,812 vs. May 2013 YTD $590,000). The most telling statistic, however, is the 19.5% increase in the number of Boulder homes sold (May 2012 @678 YTD vs. May 2013 @810 YTD). To download May 2013 Boulder County sales statistics: May2013stats

May

SOLD – 888 ALASKA ROAD, BOULDER

Pleased to announce a recent successful sale of 888 Alaska Road up Fourmile Canyon. This ~4.5 acre piece of mountain land featured views to the north and east and was located in close proximity to Betasso Open Space Park with miles of trails nearby. Located ~25 minutes above downtown Boulder, this piece of land will hopefully prove to be a nice future home building site for the new owner.