high end boulder home sales stats

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Single Family Home Sales in Boulder Over $1,000,000

1/1/2011 – 9/30/2011 (end of Q3)
City of Boulder, derived from data entered in IRES MLS System

REMAX of Boulder - 30% (16/54)
Pedal to Properties -28% (15/54)
Colorado Landmark-24% (13/54)
Wright Kingdom-20% (11/54)
Leyla Steele of Pedal to Properties – 15% (8/54) incl. in P2P’s 15/54 above Coldwell Banker-13% (7/54)
Walnut-11% (6/54)
Goodacre-11% (6/54)
8Z-7% (4/54)
Sothebys-7% (4/54)
Prudential-6% (3/54)
Remax Alliance – 4% (2/54)
Housing Helpers-4% (2/54)
Metro Brokers- 2% (1/54)
Modern Real Estate - 2% (1/54)
KL Realty –2% (1/54)
Bodin- 2% (1/54)  

* Percentages rounded up if over .5 and rounded down if under .5

Assorted independent and out-of-town offices: 11

Exploring this data in terms of individual agents, Leyla Steele of Pedal to Properties is responsible for the majority of the $1m+ sales at Pedal to Properties AND a significant percentage of $1m+ sales above, with 8 transaction sides totaling over $17m this year to date. This includes the two most expensive properties sold in North Boulder this year, one at $2.6m, the other $3.125m.  In other words, with 15% Leyla is personally responsible for a higher percentage than the entire offices of Coldwell Banker (which includes Karen Bernardi Group), Goodacre and Walnut. Although Remax of Boulder beat out P2P for 1st place by one transaction side, that office has nearly 100 agents (compared to 23 at P2P) and not one single agent at Remax of Boulder was involved in more than two sales of $1m+ detached homes in Boulder in 2011 – as compared to 8 for Leyla.

When interpreting data, it is important to note the source and parameters. In this case, the data was taken from information entered in IRES, the local Boulder MLS system. It includes only single-family detached dwellings (no condos, attached homes, or duplexes) in the City of Boulder. There are 2011 COUNTY sales in the high-end market that are not recorded here. Likewise, there were a handful of $1m+ sales in 2011 that were transacted privately, outside the MLS system.

It is also helpful for high-end Buyers and Sellers to have a sense of where the high-end sales are taking place within the City of Boulder. With few exceptions, $1m+ properties are sold in the following areas: neighborhoods near downtown, namely, Mapleton Hill and Whittier (including Sunset Hill, Ideal Market area & the hill area of Alpine/Balsam); to the north, neighborhoods of Newlands, Carolyn Heights and areas north of Norwood (including Moore’s, Keller Farm and the area around Wonderland Lake); to the south, Chautauqua (including the area near West Arapahoe, University Heights and Rose Hill), and the Devils Thumb area of Table Mesa. As the data indicates, 54 single family homes over $1m+ were transacted, closed and entered in the MLS system between 1/1/2011 and 9/30/2011. Of those, roughly 75% were north of Pearl Street with the remainder in Chautauqua and Devils Thumb areas. While the areas of Chautauqua and Devils Thumb accounted for a significantly smaller percentage of $1m+ sales, the most expensive homes sold in Boulder in 2011 sold in Chautauqua, on Circle Drive, for $4.3m and the 4th most expensive home was in Devils Thumb, on Stony Hill, selling for $3.2m. Mapleton Hill saw the next highest prices, with $4.1m for a renovated 10Ksq ft church on Highland and $3.2m for a stately historic home on a quadruple lot on Pine. The most expensive homes sold in North Boulder were both in the neighborhood of Carolyn Heights, a neighborhood of estate-sized lots, with 5 sales in 2011, ranging from $1.35m for a fixer upper to $3.125m for a 6000+ sq ft newly constructed home. Newlands had the largest share of $1m+ properties, totaling 13 of the 54, or 24%. The most expensive Newlands home sold was $2.5m on 5th Street. The median AND average 2011 purchase price in Newlands lands between $1.3m and $1.4m.

Recent SOLDS for Leyla Steele can be found at http://www.leylasteele.com. Amongst $1m+ properties sold by Leyla in 2011 are 2 homes in Newlands, 2 homes in Carolyn Heights, two homes in Whittier/Ideal market area and one in Chautauqua. Notable is the length of time on market and the selling price for homes listed by Leyla Steele: 3021 5th (co-listed with Zach Zeldner) was under contract within 3 weeks and sold a month later within 4% of its $1.699m list price, setting a new high water mark for post-2008 Newlands values and a much higher than average/median price in this current Newlands market; 3060 8th sold for 5K under its asking price of $1.4m. 1440 Alpine (sold to Zach Zeldner’s Buyer) closed within 3 weeks of being listed – under contract in less than a week, selling for $1.265m, within 4% of list price.

For those who bemoan the present state of the market consider this: It is not the market, it’s the marketing.