A surprising number of new listings hit the market this week, in the brief lull before the Holiday season begins. Is it an early indicator of a wave of inventory in next year's market? After many years of a shortage, we hope so.
We've pulled out the best of this week's listings. No bad locations, no refreshed old listings. The properties below are the top that the Boulder market has to offer. To keep you up to speed on market conditions, we also included a brief update on inventory and details on the most interesting sales.
Are you ready to see some houses?
Market Update
As noted in previous blog posts, the Boulder market continues to show signs of slowing. The chart below shows inventory for detached, single family houses, year over year. Inventory of these homes is up 33%.
Does the inventory increase worry you? It shouldn't. Absorption is high and virtually unchanged from last year. We'll post a more detailed market update shortly (if you're a client, feel free to call and we'll send you the analysis).
Sold Listings of Note
933 Forest Ave | $2.3MM | More Details
Centrally located in Newlands. Essentially turn-key. Large. Sold for 12% below last asking, cash. 3+ months on the market. Remember: the risk of pricing too high is chasing the market, a stale listing, and eventually a lower price.
4425 Apple Way | $1MM | More Details
North of Jay Rd, this quiet neighborhood is very desirable but there is no walk-able retail. Tasteful updates throughout. Sold for $12K over asking but the seller kicked in a few grand for closing costs. 3 Days To Offer (DTO).
2366 Park Ln | $785K | More Details
Modern family home in close proximity to retail. Split layout, small lot. Sold for $15K below asking. 23 DTO.
3200 Carbon Pl S-208 | $391K | More Details
Our listing. Urban, hip, close to Google and so much more. Sold for $9K below asking and we had a backup contract at full price. From an investment perspective, the cap rate was low, reflecting a premium for mixed-use, transit oriented development close to the center of everything. The new owner is looking forward to possibly living car free.
Fresh Listings
Boulder
Prepare for some eye candy. Tasteful and understated on the outside, elegant and refined on the inside. This Newlands estate sits at the base of great trails. Deal tip: This house sold for $2.9MM in the fall of 2014. Has it gained a $1M in just 3 years? Let's go see it to find out.
To schedule a private showing, which includes a discussion of valuation, negotiation strategy, and market conditions, call Osman at 303.746.6896.
1190 Berea Dr | $750K | More Details
Ranch with an open layout, updated. The location is a a circle with close proximity to the park and south Boulder rec center. No garage, which adds complexity to a renovation project due to City of Boulder parking requirements.
A rare offering. It's a two office suite with a small kitchen and 1 reserved parking space in very popular mixed-use Holiday Neighborhood. Marketed as a possible live-work unit, confirm during your due diligence. Note the higher taxes for your investment model.
2/2 at an affordable price. End unit, right at twin lakes. The upper level units are typically more desirable. These tend to rent easily and are generally attractive investments. Ask your Realtor for an analysis of investment alternatives.
1 bedroom with a small kitchen. Strong rental opportunity. Not far from campus. The building is dark, heavy on the concrete, and frankly feels like a bunker designed in the Soviet Union... but the location is great. It should attract high quality, long-term tenants.
Longmont
3972 Da Vinci Dr | $640K | More Details
Functional layout with all bedrooms on the upper. Sweet SW Longmont neighborhood with an easy commute into Boulder. A three car garage for under $650K in this location is somewhat rare. Worth a look.
Charming, historic Old Town bungalow. Needs updates. Before you write an offer, ask your Realtor about common issues and the cost of remodeling historic homes.
3/3 in SW Longmont, near some retail. Good interior flow.
Lafayette
Charming bungalow built in 1900 at a great price, walkable to downtown Lafayette. Needs serious work. A "sweat equity" opportunity.
Want this blog via email? Sign up HERE.
Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.
Follow us! | Facebook | Twitter | Instagram
As always, your referrals are deeply appreciated.
--
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
Image: @AlisaAnton
