University Hill, Boulder, Real Estate Market Snapshot
There’s good news all around for the real estate market in
Boulder’s University Hill neighborhood as we roll into 2015 ... unless you are
a buyer trying to find a home here. I
can’t remember a time when it was more of a seller’s market.
Last year, there was a significant drop in the number of
homes sold in the neighborhood – only 22 homes sold compared with 33 in 2013. Meanwhile,
the median sales price increased by 13% to $871,000, and homes sold very close
to their list price. Sales prices ranged from just under $480,000 for a tiny
two-bedroom house on 18th St near Baseline to over $1.6 million for
a historic Tudor on the corner of 11th and Cascade Avenue that had
been on and off the market since 2012.
In terms of low inventory and climbing home values, the Hill
is trending in the same direction as Boulder, only steeper. Last year, Boulder
saw a 13% decline in the number of homes sold and an 8% increase in median
sales price.
2015 promises even more price increases as we have high
buyer demand and a low inventory of homes for sale. You may see and hear about
new developments in Boulder, but most of them are rental apartments and
commercial projects with very little in the way of new homes for sale. Thankfully, there are new home developments
in outlying areas like Lafayette, Longmont and Superior adding inventory. But I
predict the housing shortage will not ease in Boulder anytime soon.
If it’s such a seller’s market, you might ask, then why
aren’t more people selling? The simple answer is that they don’t want to be
left homeless. Unless they are moving out of the area, home sellers face the
same challenges as other buyers as they try to find a replacement home. Rest
assured that I have developed some unique strategies to help get buyers into
homes. Feel free to contact me with any questions or for a free market analysis
of your home!
University Hill Home Sales
|
2013
|
2014
|
%
change
|
# of homes sold
|
33
|
22
|
-33%
|
Median $ per sq ft
|
$323
|
$323
|
0%
|
Median sales price
|
$767,500
|
$871,000
|
13%
|
Discount off of list price
|
-3.04%
|
-2.46%
|
-19%
|
Average days on market
|
60.50
|
68.00
|
12%
|
2014 Home Sales on University Hill
