Boulder Real Estate Market Summary

This Boulder real estate market summary covers single family homes sold in the last week (12/1/7 through 12/7/7 inclusive).

We saw 11 homes sold with an average price of $694.317.

Considering that the average price in Boulder recently is just over $500,000, this looks like some pretty good activity and makes it look like prices are holding reasonably well for single family homes in the City of Boulder.

The high price was $1,330,000 and the low price for sold homes last week was $317,500. Here’s a summary of the two ends of the spectrum for this week.

34th-st.jpgThe home at 965 34th in the Aurora Terrace subdivision (a few blocks N/E of 30th & Baseline), came up for sale in early August with a price of about $340,000 and with a few price reductions, found the market price in about 90 days at $317,500.

lehigh.jpgThe home at 1885 Lehigh in the Rolling Hills 1 subdivision (at the S/W edge of town in what generally many people think of as the Table Mesa area), came up for sale in early september with a price of $1,495,000. Interestingly, the price was reduced about $100,000 after about 45 days, then raised a day later, then lowered to $1,425,000 and then the seller received a contract which was successfully negotiated to a final sale price of $1,330,00. It took about 90 days to sell.

At the end of the third quarter of 2007, there were 768 single family homes sold in Boulder YTD. That’s a 1% drop as compared to end of third quarter YTD 2006. However, the total dollar value of homes sold for the same period is over $507,000,000 and when compared with the same period in 2006 this is about a 2% increase. The median price is at $564,000 which is an increase of 3% over the same period last year.

So it looks like we’re still seeing a trend of slightly fewer number of homes sold but the prices are increasing.

We’ll have 4th quarter stats and year end data sometime in January.

Other market updates and posts on Boulder are available elsewhere on my site.

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