Boulder ranked a top seller’s market for luxury real estate

BOULDER — Boulder is the fourth most powerful seller’s market for luxury residential real estate, according to a new report from Coldwell Banker Real Estate LLC.

Coldwell Banker determines the strength of “power markets” based on factors such as list prices, median sold prices, median sales-price-to-list-price ratios, price-per-square foot and days on market.

“Traditionally, a seller’s market describes conditions in which demand exceeds supply, giving homeowners an advantage over buyers in price negotiation,” according to State of Luxury 2019 report.

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Boulder was the only Colorado city to hold a position on the ranking of 65 real estate markets, however Colorado and Vail were both mentioned in the report as examples of vertical luxury living and luxury resort real estate respectively.

“Tight inventory and surging demand make Boulder very much a seller’s market,” according to the report. “The $1.75 million median sales price of luxury homes in 2018 was up 14 percent from 2017; homes were on the market for an average of 61 days — down from 77 days in 2017, and inventory decreased by 10 percent.”

Coldwell Banker notes Boulder’s strong economic foundations as a driver for real estate values.

“We get a significant flow of new residents from both coasts who come here for the lifestyle, as well as the jobs and the very reasonable taxes,” Sonia Chritton of Coldwell Banker Residential Brokerage in Boulder is quoted saying in the report. “With high-end jobs, a phenomenal location, and 300 days of sunshine per year, it’s easy to understand why demand is so strong.”