South Boulder Price Increases

South Boulder price increases
South Boulder is finding property price increases from 5 percent to 10 percent annually. RE/MAX of Boulder, Inc. follows real estate activity in the Table Mesa, Frasier Meadows, Park East, Baseline, Martin Acres, Majestic Heights and Devil's Thumb areas.

The inventory for these areas is about average for this time of the year and the percent of listings under contract to the amount of active listings is quite high - at 44 percent.

RE/MAX of Boulder projects a continuation of price increases in the 5 percent to 10 percent range. However, Boulder had price booms in '87, '94 and '98 and another boom could be coming where price increases hit 20 percent for a year or two. People wanting to live in Boulder as much as economic conditions in the nation will drive the bigger increases.

Another trend in South Boulder is remodels, “scrape-offs” and “pop tops,” especially in Martin Acres and Table Mesa. A “scrape-off” is when a home is razed and a new home built in its place, whereas a “pop top” is when an addition is built on top of the home. Homes that would have sold in the $300,000’s have been redone and resold in the $590,000 to $680,000 price range. In fact, one Realtor did this with a house in the area, purchasing it in 1988 for $86,000. The Realtor built onto the top of the home in 1992 and sold it in 1999 for $280,000. Then – just to keep it interesting – the Realtor bought it back 20 months later for $375,000 and is now reselling it for $590,000!

South Boulder certainly affords excellent potential.

By RE/MAX of Boulder, Inc.