Boulder Valley | Quarter 2, 2022
Boulder County is filled with communities that offer a variety of lifestyles and opportunities for homebuyers to create the life they love. As a national leader in sustainability efforts and bountiful recreation options, Boulder County attracts those looking for a combination of exciting city luxuries and nearness to nature that few other areas can claim. Over the past few years, Boulder County and the unique areas within it have seen encouraging real estate activity that indicates that the community is a top destination for homebuying and selling.
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 June of 2022 and compares them to the same period in 2021. As the market continues its return to pre-pandemic real estate patterns, the number of listings sold in Boulder County has decreased. During Q2, the total number of listings sold reached 1,866, which is 21.4% fewer than the same time period in 2021. The average sale price for those listings was $1,028,961 – 15.2% higher than Q2 in 2021.
Similar trends were also seen in the various communities within Boulder County. The City of Boulder saw a 24.9% decrease in overall listings sold, with 777 properties sold in total during Q2 of this year. The City of Westminster had the highest number of homes sold from January through June with a total of 901 homes sold.
Average prices for homes in Boulder County generally showed upward trends during Q2 of this year. Homes in Downtown Boulder saw one of the most significant increases in average sales price, growing by 61.4% to reach an average sale price of $2,093,749. Arvada also experienced sale price appreciation for homes from January through June of this year. Homes in this community sold for an average price of $674,945 which is 19% higher than the average price last year. Buyers looking for more affordability may find the home of their dreams in Westminster where homes sold for an average price of $584,740. While this is the lowest average sale price within Boulder County, homes in this area appreciated by 16.9% over the last year.
Days on market is an important indicator that shows how quickly homes are selling and can often reflect the demand for real estate in each area. In the City of Boulder, the average days on market decreased by 21.2%, dipping from 66 days down to an average of 52 days on market. The Mountain and Canyon Communities saw a 44.3% decrease in the average days on market, leaving homes on the market for an average of 64 days through Q2 of this year. The market pace was much slower in other areas such as Downtown Boulder where the average days on market was 253 days, which is 155.6% higher than it was during the same time frame in 2021.
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.