Boulder Tops for Growth & Stability

FOR THE FOURTH YEAR IN A ROW, analysts at  SmartAsset.com pegged the Boulder Metro Area (Boulder County) as the #1 real estate market for growth and stability in the U.S.  Their research shows that the average home has grown 276% in value over the past 25 years.  Over that same time period, they estimate there was a 0% chance that a homeowner saw a 5% loss in home value within 10 years from the purchase date.  Colorado's Front Range showed strength across the board, with Fort Collins ranking at #4 and Denver ranking at #9. Read the full report.

Current stats show that appreciation is slowing in Boulder County, going from an average 12.5% annually over the last 5 years, to 8.25% in the last year. This leveling off feels healthy to me. Again, ours is the most  stable real estate  market in the country!  

If you want to discuss current market trends and ways to make the market work for you, please contact me. I am always here to help you, your friends, family and co-workers with any real estate need, even if they just want to ask a question. I hope you are having a great start to the school year. - Rich

Whole Foods & Trader Joe's Boost Real Estate

According to a Zillow study, the average price of homes nationwide within 1 mile of a Whole Foods or Trader Joe's increased 144% between 1997 and 2014 compared to a national average of a 70% increase in home value between 1997 and 2014. The average price in Boulder increased 191% between 1997 and 2014 while the average price of homes within 1 mile of Whole Foods and Trader Joe's (28th and Pearl) increased 234%.

The article by Zillow concludes by pondering whether both chains are either incredibly smart about finding neighborhoods on the verge of gentrifying or whether  the opening of either location positively impacts home values. I would say that both Whole Foods and Trader Joe's are smart about finding neighborhoods on the verge of gentrifying. After all, who would have guessed years ago that the area around the old Crossroads Mall would be considered the hip and central location it is today? Read the full article.

I hope you and your family are enjoying the final days before school starts. Please don't hesitate to contact me if I can help you, a family member or a friend with any real estate needs, even if they just want to ask a question. - Rich

Millenials Love Colorado

Interest rates have edged up this year. The 30-year fixed rate is currently 4.75%, compared to 4.0% a year ago. Regardless, the real estate market in Boulder County remains strong. The number of sales so far this year are nearly identical to last year. In the city of Boulder specifically, the number of sales are slightly higher.  

Millennials love Colorado. It's currently the #3 state for Millennial relocation, with four cities in the top 25 destinations nationally.  Favorites include  Denver (#8), Fort Collins (#17), Colorado Springs (#20) and Thornton (#25). 

Boulder County cities are less popular among Millennials, and this is likely an affordability issue. We've been hearing about the "graying of Boulder" for years, but again, activity is high. Rising interest rates certainly impact first-time buyers more. It will be interesting to see if higher interest rates eventually slow things down. I'll keep tabs on the stats and let you know what I see.

If you want to discuss current market trends and ways to make the market work for you, p lease contact me. I am always here to help you, your friends, family and co-workers with any real estate need, even if they just want to ask a question. I hope you are having a wonderful summer. - Rich