Gold Run Market Analysis – 2014 compared to 2015
This is probably not the first time you’ve seen me post Gold Run market analysis and data. I track it pretty closely all year long for several reasons:
- I manage a handful of properties for owner clients who live out of the area. and like to know what rental rates should be to maximize their investment.
- I’m regularly asked to act as a leasing manager for a dozen or so properties at Gold Run.
- When my landlord friends are out of town, I cover their property management calls at Gold Run.
Understanding what current market rental rates are, is important info to get a Gold Run Property rented ASAP for maximum rent. Understanding what the landlord’s costs are, helps me to advise a landlord about renting vs buying.
Real Estate Sales:
- As a full time Realtor I keep tabs on what is for sale and sold, as a way to identify sales trends in Boulder.
- Gold Run condos have had a really strong price/square foot correlation for YEARS. Unlike most other real estate in the area, where Price/SF is hit and miss, with too many other variables involved.
- I don’t remember the last time I didn’t have a first time homebuyer, CU parent or avid investor chomping at the bit for a centrally located condo.
- The complex is 360+ units, making it a reasonably sized data set for my Gold Run analysis.
Take a look at the chart above. Note that Price/Square Foot is a still a predictable linear trend line, but overall, prices for 1,2 and 3 (harder to see) condos have risen in the last year.
2015 has seen a steady number of condos change hands. Every month two or more are being sold. No surprises that August (so far) is a peak month for sales, since this is also the time when leases end and begin and move-in/out from CU dorms occurs, in this area. A good time to find a buyer who might be an investor, but someone who could also be purchasing for use as a primary residence – this includes parents of CU students. Bear in mind that leases carry through closing, so if you sell when there is an existing lease in place, as the buyer you must honor the lease – the term and the rental income.
Gold Run Analysis: Sold Stats for 2015
- 20 units at Gold Run have sold so far in 2015
- Average Sold Price: $283,000
- Average Days on Market: 47
- Listings are selling at an average of 100% of list price
There are currently 4 condos for sale at Gold Run in Boulder, CO.
Two one bedroom condos, both ground floor. Two 3 bedroom units – a 3 bed penthouse unit in an elevator building and a townhouse that features 3 beds and 4 baths with attached 1 car garage. Please don’t hesitate to contact me if you would like more info about investing at Gold Run, the units available, our rental market or how to secure me as your Boulder Property Manager.