October 20, 2008

So how’s the Real Estate market in lala-land? (Boulder, Colorado)

The national news is full of major gloom and doom when it comes to the housing market these days.  But did you know that Boulder is doing just fine?

Well, it’s nothing like the double-digit appreciation we had in the past, but the median price of single family homes in the City of Boulder is up .3%—yep, I said “up”..! Less than 1% may not be much to write home about, but since most of us are walking around thinking the sky is falling, even a modest increase comes as a nice dose of relief. If you think that’s good news, townhomes and condos in the city are up by 1.7% compared to a year ago.

The stats are not as rosey for homes in some suburbs—Lafayette (down 4.2%) and Longmont (down 5.4%) compared to the same period last year. But, Louisville and Broomfield are up over 2%. For the whole enchilada, click here.

Boulder County also has the lowest foreclosure filings rate of any county in the Denver Metro Area—1 out of 197 households compared to 1 out of 65 in Denver during the first half of 2008 according to the Colorado Division of Housing with the bulk of those foreclosures occuring in Longmont.

So, when you listen to the national news, remember that reporting on national real estate conditions is like reporting on national weather. It may be stormy elsewhere, but here in Boulder, it is sunny and 72 degrees. 

For a quick, free estimate of your home’s current value, click here.

[Blog via elephant’s favorite, Liz Benson!]
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