Mary Hill
BOULDER COUNTY – Boulder County has proven to be a great place to invest in real estate over the past ten years. Not surprisingly, Boulder leads the way with an increase of 171 percent in the average sales price of single-family homes between June 2013 and June 2023; from $717,000 to $1.94 million. This translates to an annualized return of 17 percent. Houses in Lafayette realized a 12.5 percent annualized gain, followed by homes in Longmont at 10.8 percent, Erie at 9.8 percent, Louisville at 8.8 percent and Niwot at 8.7 percent. Not only is your house your home, but it’s also a great investment, especially here in Boulder County.
Boulder County experienced a decrease in home sales in June 2023 compared to June 2022. Lafayette and Louisville were the only towns that bucked this trend and had increased sales year to year. Longmont and Boulder were the most popular designations for home buyers with Niwot having the fewest homes purchased.
The average price per square foot increased in all but Longmont and Niwot year to year. Lafayette and Louisville led the way with an average increase of about 11 percent.
The length of time to sell also increased year to year but all houses in all the towns surveyed are still selling in less than the 90 days of a typical market.
Even though the average Longmont home price is almost $100,000 less than in Erie, because of the large number of homes sold, the total Longmont sales volume exceeded that of Erie by $30 million in June.
The good news for buyers is that the number of homes on the market is up almost 18 percent compared to a year ago. With this increase in homes on the market closed sales are down 10 percent. Go figure!
People are making up their minds quickly, though. Home showings averaged 6 in Boulder County between the time they were listed until the property changed hands at closing.
If you have owned your home since February 2021 you most likely will make money on the sale of your property. Home prices skyrocketed beginning in March 2021, so you may need to wait to sell if you want to make a profit if you purchased your home in March 2021 or later.
By Mary Hill. Mary is a Realtor at Mary Hill Properties. Call 720.272.5448, e-mail [email protected] or visit maryhillproperties.com.
