Is Downtown Boulder Really Worth It?

courthouse-boulder.jpgI remember an article from the Boulder Daily Camera a few weeks ago about this topic and since we have a condo for sale in downtown Boulder, this issue keeps rattling around in my head.

pearl-street.jpgI remember that one of the salient points of the article was that the value, or perceived value, always comes down to supply and demand. I know I’ve said this before and I don’t mean to be redundant but sometimes everyone wants to over-complicate this kind of issue.

gross-res.jpgWe can compare all sorts of data like historical sold stats for other markets as the article did but it’s really meaningless. Would someone considering a Boulder condo really think about how the cost compared to Midtown Manhattan or a Palm Beach oceanfront condo? Rubbish.

All that’s really pertinent is what’s currently available for sale and do you really want to be here. Sure, there are going to be dumps and beautiful renovations. There’s even some new construction although that’s becoming a rare commodity.

residenceimage.jpgConsider where the Peloton is located, or how about Uptown Broadway. Just a few years ago buyers wouldn’t consider either of these locations desirable or trendy. 33rd and Arapahoe was a commercial district on a busy road and it still is… but when you compare what it costs to get a similar piece of airspace in downtown Boulder it becomes very attractive. Sure there’s some great properties downtown with new stuff on Pearl, Canyon and Walnut especially if you’re ready to drop $750k on a studio loft.

flatironsmoon.jpgNow that’s a legitimate comparison. When I have a buyer that’s coming here for a job transfer but he / she says “I had three choices for relocating but I chose Boulder for the quality of life” we don’t compare prices in San Diego and Eugene!

If my clients think they want downtown but they see what they can get in north Boulder, the Peloton or other LOCAL options, then we start comparing prices and options and whittle it down to the pros and cons for their lifestyle needs.

Yeah, it comes down to demand… and supply. And sure, topping all the ‘best places to live’ in national magazines brings a lot of awareness and hence immigration but the cleverest part of the article was his closing paragraph where Sean said something like; if we can’t afford it, go check out a place at Palm Beach. Now that’s a valid reason to compare prices in Boulder with other areas… when you’re thinking you’ll go somewhere else.

It’s worth whatever a ready willing and able buyer will pay for it last I heard.

Thanks to Charles Pfeil for the excellent photos. Check out more of his work at his website.

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… AND, you can FOLLOW THE LINKS I have for you on the right side of this page to find some great information. Please see my video tour section, to see tours of Boulder real estate for sale, business profiles, neighborhood profiles, and new development profiles. I want you to find exactly what you want, and get all the info you need. Call or email me now to get straight answers, and start the process of finding the perfect solution to your real estate needs.
-Zachary Epps, full-time professional Realtor® and EcoBroker®

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