The Kearney Report is produced and presented each quarter so that our clients can have an easy to read report on the state of the Boulder area real estate market. The report gives information and shows graphs for Boulder County, the City of Boulder, East County which includes Louisville, Lafayette, Erie and Superior, and Longmont. I break it out in this manner because each of the sub-markets is different. For example, this past quarter the median price in the City of Boulder was 22% higher than last year but in Longmont it was just 1.5% higher. But at the same time the number of sales was down 18% but stayed equal in Longmont. It’s worthwhile to take a closer look!
To view a PDF of the latest report click on this link. The Kearney Report 1st quarter 2016
Here are some highlights from the report:
During the first quarter the real estate market within the City of Boulder has been very tight. Sales were down 18%, inventory has dropped significantly and prices are up significantly. The entry level prices in Boulder are disappearing. This past quarter just 7% of the sales were for $250,000 or under. This represents smaller, older, more modest condos in Boulder. One year ago 19% of sales were in that range and in 2014 it was 24%. Many people are being quickly and dramatically priced out of Boulder. Over the past three years the percentage of sales under $500,000 has dropped 19 % points and those sales have shifted almost equally into the high price ranges or $500 – $750k, $750 – $1 Million and over $1 million. 16% of the sales during the first quarter in Boulder sold for $1 million or more. Within Boulder 45% of properties sold for over full price. The average premium paid was 6.28% or more than $27,000 over list price!
