Why Boulder Is a Great Real Estate Market
The state of Colorado has witnessed tremendous growth in its real estate market in recent years, best typified in Boulder’s remarkable rise as one of the hottest markets in the country.
Investors nationwide will be interested to hear that home prices in the city have gone up by 45.1% since 2021, with the median price of home sales now nearly $1 million.
In addition, homes in the city now take less than a month to sell, up by nearly 30 days compared to last year.
Are you still unconvinced? We’ll break it down further for you in this article:
Home value continues to appreciate to the benefit of short-term investors
Boulder has experienced unprecedented home appreciation rates in the last ten years (106.30%), ranking the city within the top 20% nationally for the same stat.
Also, per stats from Neighborhoodscout, homes in Boulder have appreciated by over 20% in the last 12 months, one of the highest in the USA. This stat outstrips a full three-fourths of the towns and cities in the countries.
As a result, short-term investors have a new haven in the city’s real estate market, especially over the past 12 months. With second-quarter home appreciation rates topping 8%, more is expected in the next 12 months.
Serious investors should take advantage so as not to be left behind.
The demand for homes is sky-high.
Per the Zillow Home Value Index, a typical home in Boulder costs $1,096,070.
Considering that this spike in home values has been the trend since 2019 (only slightly hampered by the COVID-19 pandemic, there’s good reason to believe that prices will increase in the coming years, to the benefit of investors and sellers.
With home values at over 20% presently, it is a sign that the demand and supply curves will remain far from a price equilibrium for the foreseeable future.
The housing market is fiercely competitive.
Per data from Redfin, Boulder's housing market is highly competitive, with many homes getting multiple offers.
In February 2022, homes sold for around 3% more than the listed prices, going pending in roughly 30 days. Hot properties are even more competitive, selling for nearly 10% more than their original listed prices. Additionally, these hot homes go pending in about ten days.
This means that the average property in Boulder sells for a handy profit within a month of its market listing.
For investors seeking liquidity, the Boulder real estate market is the dream ecosystem, as the high sales rate makes it a desirable option. In addition, home sellers are more confident about landing top dollar for their homes.
Many neighborhoods have high home appreciation rates
Regarding real estate markets, average property appreciation stats do not consider the lack of uniformity per neighborhood or district. That is to say that each area in the location does not appreciate in value at the same rates.
In some cities, this gulf is highly pronounced, with only a handful of neighborhoods having high values, with other portions having relatively low values.
Boulder is an excellent real estate market because most of its neighborhoods have consistently ranked as high-home-appreciation locations.
Choice neighborhoods include Crestview, Table Mesa, Chautauqua, Hillcrest, Old North Boulder, Mapleton Hill, and Martin Acres.
Getting property in Boulder is as easy as reaching out to me. Find your dream home today!