Boulder Real Estate Market Summary

exterior.jpgHere’s a summary on what’s been going on in the Boulder real estate market for condos. While it’s worth considering the Water Street project, pictured left, since there’s only one for sale now, consider some other interesting news: An interesting tid-bit and a bit of news to me is that the Northfield Commons project is all condos.

Nora Ziel , one of my most reliable mortgage consultants, tells me that she found recently that the properties at Northfield Commons are all being sold as condos. What this means is that you’re buying air space and not land (in simple terms). Not a big problem for many people but for those intending to purchase a single-family home and all that comes with it, this could be a real eye-opener when spending upwards of $600,000 or $700,000.

1812_17th_st_204_mls_hid405613_roomkitchenlivingroom1.jpgWe still have one condo for sale smack dab in the middle of downtown Boulder and in the very affordable price range at $177,000. This Water Street Condo is fully renovated and ready for someone looking to have an exclusive turn-key solution. Just a half block from “The Walnut” who could ask for a better neighborhood? Another unit in this complex sold for $170k in August. By contrast, this condo we have for sale has been fully renovated, has covered reserved parking and is an upper floor location. (The sold unit doesn’t have any of these features).

In terms of overall statistics there are 444 Boulder condos for sale. The average number of days on the market is running from about 128 days up to about 168 days. The slightly longer time on market is in the higher price ranges. Almost 50 of these condos are over the $ 1 million asking price.

Of those 444 listed for sale, 101 of them are currently under contract with a buyer. That leaves 343 condos still for sale looking for a buyer with an average price of $464,586 and an average number of days on the market of 111. The prices range from $84,900 for a 35 year old studio unit in Eden East/Two Mile to a 3400 sq foot unit still under construction at the corner of 17th and Walnut in the new project called “The Walnut” for $3,499,000.

In the last 5 months (since the beginning of June 2007) 392 condos have sold. The average time on the market for those that sold is 99 days. The average price was $285,058 although it’s worth noting that the high price was an admirable $2,250,000. With no common walls to other units, panoramic views of the front range, almost 3000 sq feet and 3 parking spaces of underground parking it’s a pretty amazing property.

With condos selling all the way from $85,000 on the low price end to over $2 million on the high end, it seems there’s still a market for almost every price.

Comments

One Response to “Boulder Real Estate Market Summary”

  1. cebu real estate on November 11th, 2007 7:57 am

    im new to real estate and my real estate website is only for cebu , i mean the listings is only in cebu properties but foreigners can buy house and lot from cebu ..

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