2015 was one of the best years for real estate appreciation in decades. The average price of a home in the Eisenhower community jumped to $795,000 (up 23% from $647,000 in 2014). Another barometer of real estate growth is the average $/sq. ft. In 2015 the average $/sq.ft sold in the Eisenhower community was $256 (up from $240 in 2014). However the # of sales and volume was down in 2015 (60 sales and $47 million in volume in 2015 vs. 80 sales and $51 million in volume in 2014). There are lots of intangible factors that determine market value for a specific home but averages are a great way to analyze trends in the market.
Here is a fun 5 year snapshot:
YEAR Average (% change) $/sq. Ft (% change) # sales
2011 $604,000 – $220 48
2012 $621,000 up 2.8% $199 down 10% 61
2013 $625,000 up .06% $206 up 3.5% 80
2014 $647,000 up 3.5% $240 up 16% 83
2015 $795,000 up 23% !! $257 up 7% 60
Is this past years growth of 23% to be expected again in 2016? I highly doubt we’ll see another 20% gain. I wouldn’t be surprised to see 10% though. Inventory remains tight and demand is very high to secure housing in Boulder. Google’s new office and jobs will have an impact. What does that mean to the average 3000 sq. ft home in Eisenhower? On average a 3000 sq. ft home sold for ~$771,000 in 2015. As we get into to summer months of 2016 I anticipate that same average home selling for ~$825,000-$850,000. ($275-$285/ sq. ft). Not bad!
If you’d like a complimentary Real Estate Market Review for your home please give me a call or send me an email. I live in the neighborhood and I love it here!!
Your local real estate market expert
*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.