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Boulder Real Estate Market Stats: January 2024

Boulder Real Estate Market Stats | January 2024 | PorchLight Real Estate Group

Boulder Sellers Bring the Heat in January

With the holidays finally over, sellers in the city of Boulder and across the county hit the ground running in January. There were 262 new single-family listings across the county compared to 118 in December. The city of Boulder saw an influx of 88 listings, compared to 37 the prior month. 

Of course, sellers are in for a longer run compared to a quick sprint. Days on the market in Boulder reached 106 which is a 39.5% increase year-over-year. Countywide, homes are averaging 76 days on the market—while that doesn't vary much from the prior month or year, that's still well over two months. 

Taking a closer look at the city of Boulder, the 88 new listings of single-family homes were paired with 43 sales, down month-over-month but an increase of 48.3% compared to January of 2023. Last month also closed with 157 homes still available for sale and 2.3 months of inventory, just a slight month-over-month increase despite the number of new listings more than doubling. 

Boulder Real Estate Market Stats | January 2024 | PorchLight Real Estate GroupEven with the significant increase in inventory, the median price for a single-family home in Boulder also increased from $1,235,000 in December to $1,450,000 last month. That's also 13.1% higher than in 2023. 

In the townhouse/condo market, new listings increased from 28 in December to 47 in January while sales decreased from 33 to 26 month-over-month. However, prices actually increased a tad from $457,000 to $464,250. Days on the market decreased month-over-month while increasing by 48% compared to 2023. January also closed with a 2.1-month supply of inventory, a 162.5% jump year-over-year.

Likely due to new listings more than doubling and sales decreasing month-over-month across Boulder County, the median single-family home price fell from $775,000 in December to $764,500 last month but still managed to eke out a 1.4% increase compared to 2023.

Also across the county, January ultimately closed with 419 homes still available for sale in Boulder County which comes just slightly below the 2023 figure of 425. This 1.9-month supply of inventory is likely to be a huge factor as the real estate market continues to warm up over the coming months. 

Looking closer, single-family home activity in Longmont saw a decline in sales while new listings jumped from 30 in December to 83 in January, also a 40.7% increase year-over-year. Accordingly, the median home price dipped slightly from $590,000 to $580,000. In Erie, there were 66 new listings and 60 sales while prices remained relatively flat—coming in at $717,000.

And finally, in Broomfield County—new listings, sales, and the median price came in higher than the previous month. The number of new single-family listings more than doubled from 23 to 50, while 38 homes sold. Month-over-month prices increased, coming in at $680,000 and 13.3% higher than in 2023. However, January closed with inventory 29.4% below 2023, just 60 properties still available for sale, and 1.1 months of inventory. 

With sellers jumping into the 2024 market and prices already fluctuating across the county, the typically busy spring season could start sooner than normal. And continuing to wait for a big interest rate drop before jumping into the hunt for a new home could cost you. In fact, you could wind up paying more by getting into a bidding war with other buyers who are doing the same thing.

Instead, work with a seasoned real estate advisor who can better assess and time the market, as well as help you understand both the risks and rewards of waiting. The sooner you get started, the sooner you can start enjoying your new home.

Architectural Styles Explained

If you're house hunting in Broomfield, Boulder, and the surrounding areas, you’ll find fascinating architecture of all types. This handy guide will help you get acquainted with the metro area’s most common styles.

If you want to see these styles of homes in person, be sure to schedule a Market Education Day, exclusively available through a PorchLight agent. They will take you on a tour of properties that match your lifestyle, budget and wish list. It's a great way to get a more holistic understanding of the market and even fine-tune your home search criteria. 

Craftsman—This popular style of home dates back to the late 19th century and features:

  • Low-pitched gable roof
  • Natural materials and colors
  • Robust, tapered columns
  • Wide and covered front porch
  • One or two stories, open floorplan
  • Exposed beams and rafter tails

Bungalow—Primarily built from 1915 to the 1930s this style has many distinct features:

  • Low-pitched roof
  • Dormered windows
  • Covered front porch
  • Square porch columns
  • Built-in cabinetry
  • Exposed beamed ceilings

Victorian—Built from 1810-1910, the most popular being a Queen Anne, this style features:

  • Steep, gabled roof
  • Elaborate wood trim
  • Bright paint colors
  • Asymmetrical shape
  • Towers and turrets
  • Two or three stories

Foursquare—Built from the 1890s to 1930s and also known as Denver Square, this style offers:

  • Square and brick-built
  • Sloped, four-sided roof
  • Large windows
  • Center dormer with window
  • Wide front porch
  • Defined interior spaces

Ranch—Popular in the 1950s and '60s, the single-story ranch is often characterized by:

  • Low-pitched roof
  • Deep, overhanging eaves
  • Large picture windows
  • Backyard with patio or deck
  • Simple, open floorplan
  • Attached garage or carport

Modern—This broad-ranging home style continues to evolve but typically includes:

  • Simple, clean, straight lines
  • Industrial/sustainable materials
  • Lack of ornamental detail
  • Large windows and skylights
  • Open, flowing interior
  • Energy-efficient features

Tudor—Built from 1925-1945, with Medieval and Renaissance influences, Tudors include:

  • Steeply pitched roof
  • Half-timbered (wood/stucco)
  • Tall, multi-pane windows
  • Ornate chimneys
  • Substantial wood front doors
  • Cantilevered second story

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