Louisville Real Estate July Market Update

Louisville real estate has been moderately active with 28 homes sold in July. With the news of the new ConocoPhillips facility still resonating in the ears of most residents, I think there’s a feeling of optimism around Louisville, Superior, and Broomfield. It may be premature to think that the market is taking an upswing, and I don’t see a big change in prices upward, but confidence levels are rising. Some of you have expressed concern about the layoffs at Sun Micro recently. According to a Sun employee that I talked to, there are about 100 or so people released from Sun at the Broomfield campus, and I previously posted reports that two companies have already relocated from out of state and leased property in Broomfield bringing in approximately 125 workers.

While the lay off numbers are higher if you consider former Storage Tek workers no longer with Sun, the fact that we’re seeing ConocoPhillips related businesses bringing in new workers is good news. What’s also important to know is that Sun currently employs 2,593 people in the Louisville and Broomfield area.

I think that we’ll also see many of the former Sun staff shift to other companies in the area, and of course some of them, like my neighbor across the street, will return to the job markets they came from. Anyone want to rent a four-bedroom house in Superior?

Here’s the sold data for July in Louisville:

Single Family Homes:

Total Number Sold: 28

Average Price: $405,509

Median Price: $330,000

High Price: $855,000

Low Price: $250,000

Average Days On Market (DOM): 91

Condos:

Total Number Sold: 7

Average Price: $188,057

Median Price: $192,500

High Price: $289,900

Low Price: $95,500

DOM: 107

For more specifics on the Sun Mircosystems lay offs, you can check the daily camera article from July. These may be different numbers than I reported above. Keep in mind, the source changes the info sometimes. My goal in providing you this information is to give you a sense of what I think’s going on, along with real statistics from our multiple listing service (MLS) service on sold homes in the area.

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