Boulder CO 80305 Real Estate Market Stats

Happy New Year from Boulder CO 80305!

Let’s start 2018 off with info. You set the goal and now you need info in order to plot the path to success.  Whether your 2018 goals involve buying, selling, investing and/or managing real estate in South Boulder, you need stats and analysis and Boulder CO 80305 is a big chunk of that area. It includes all of Table Mesa as well as Highland Park and Martin Acres:

 

If you haven’t been keeping track, you might be surprised to hear that Martin Acres and the general area has had some whopping appreciation over the last 3 years. Remember when you could pick up a 1000 square foot brick ranch with modest sized lot, little to no view and barely a garage, for $450,000 and you thought that was steep?  Yep, those days are gone! Unless it has $100,000 worth of structural issues to mitigate, that $450K price tag left the neighborhood a couple of years back.  Right now a 1000 square foot house is going to set you back $600,000 or thereabouts, depending on condition and location of course.

This is what Boulder CO 80305 looks like now. 

How does that compare to the rest of the City of Boulder, you ask?

AVERAGE sale price:

 

Median Days on Market: Note that with our seasonal market, it is expected that a property will take a little longer to find a buyer over the holiday season and in the dead of winter.  If you are thinking of selling, now is a good time to meet and chat about your plan, goal, timing and prep for selling. Now is not the ideal time to shove your home on the market and cross your fingers for a well qualified buyer who will not negotiate down the sales price. When is the ideal time? Call me to discuss. Soon!

 

So, you are wondering if the reason the stats for all of Boulder show higher prices because they are more desirably located, are bigger homes or some other factor. Good for you!  I had the same thought. After all, I’m a Boulder CO 80305 resident, owner and property manager and have a vested interest in where I have plonked my money down.

The short answer can be mostly found in a price per square footage comparison.

Boulder CO 80305 per Median Price per Square Foot analysis, appears to be higher than City of Boulder Median.  Good schools?  Access to amazing hiking trails? Easier commute toward Denver? Spectacular Flatiron views?  I’m sure it all adds up. South Boulder also has tons of amenities and excellent public transit connections as well as proximity to NOAA/NIST/NCAR and CU Boulder. 

Here is the graph: 

In a nutshell, compared to the city of Boulder as a whole, 80305 sells faster and for higher price/square foot.

To answer your next great question…Does it cash flow?  Everything cash flows if you put enough money down!  LOL  If you are an investor who is putting down 25% (which gets you the best interest rate) you will have trouble getting your new investment property to cash flow. Rents are good, but not rising as fast as homes have been appreciating. You will have to reconcile the fact that your solid investment will not be a cash cow for several years and acknowledge the tax deductions and appreciation as the value they add, for now. 

Got more questions?  I’d be happy to answer them for you!  Want some sort of similar analysis for another zip code? No problem. Shoot me an email or comment below with your requests.