Boulder Condos Sold Market History
Here’s a very basic run at prices of Boulder Condos in the last few years. You can see the trend that it’s been flat for the last couple of years. This is typical of our local market that we’ll see appreciation for 5 or so years and then a couple years of slow or no growth in prices before the cycle repeats itself.
There was an 11% increase in the median price of sold Boulder condos in the first quarter of 2007 as compared to the median price in first quarter of 2006. Second quarter saw a correction as we lost 10% in that quarter compared to 2nd quarter 2006. third quarter 2007 was up 9% compared to 2006 and then back down 4% in 4th quarter comparing 2007 against 2006 to end the year with a net result of zero appreciation when looking at median price between the two years total sales volume.
Now, consider this:
If we look at the central Boulder area around downtown (I’ll give the year and then the average sold price of all condos sold that year):
2002 $261,369
2003 $322,364
2004 $324,422
2005 $404,950
2006 $383,434
2007 $454,915
2008 (YTD, only 8 units sold) avg. price: $449,795
Now look at the median prices for the city of Boulder overall which includes a much wider area. It seems to me that while the city of Boulder condos are holding their own, price-wise, downtown / central Boulder (see map) is appreciating well.
Median Prices for sold Boulder Condos throughout city of Boulder over the last 6 years:
2007
median price: $240k
% diff from prev year: 0%
2006
median price: $240,280
% diff from prev year: 0%
2005
median price: $239,900
%diff from prev year: 4%
2004
median price: 230,000
%diff from prev year: 4%
2003
median price $221,660
% diff from prev year: 2%
2002
median price: $217,500
%diff from prev year: 5%
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