Key Comparisons Between Denver Real Estate And Boulder Homes
Out of all the cities and towns throughout Colorado, Boulder and Denver stand out from the crowd. These two highly popular cities are bustling cultural hubs with strong job markets and excellent quality of living. Both of these locations are some of the most in-demand places to live in the U.S. right now, and it’s easy to see why. And while both places are very similar, there are some important differences to note between Denver real estate and Boulder real estate.
These two housing markets can vary in a number of ways, from home types and pricing trends to HOAs and neighborhood features. However, that doesn’t mean they don’t also share many similarities too. Let’s dive into some of the most notable similarities and differences between the Denver market and real estate in Boulder.
Similarities Between Denver & Boulder Homes
These cities may have distinctive personalities, but they are more alike than they may first appear.
In most cases, homebuyers are looking for specific types of homes to purchase. Some buyers are interested in properties with more rustic architectural aesthetics while others may be interested in sleeker, modern homes. Regardless of which style you’re looking for, you can likely find your desired architectural aesthetic in either Denver or Boulder.
Both real estate markets are packed with properties ranging across numerous architectural styles. You can find a wealth of awe-inspiring properties across Boulder and Denver, such as:
- Tudor-style properties
- Traditional Victorian homes
- Luxury high-end residences
- Or even decked-out contemporaries
Of course, it’s worth noting that some home styles are more in-demand than others. Some types of properties may only be listed on the market for several weeks while others may be listed for upwards of several months.
Supportive Market Factors
When you compare Denver real estate and Boulder real estate, you also need to take other key factors into consideration. Things like job markets and local schools can be important things to consider when looking for your next home. Fortunately, you don’t have to worry too much about these factors in Boulder and Denver.
Earlier this year, the Wall Street Journal ranked Denver and Boulder as two of the hottest job markets in the country. Both cities have low unemployment rates and they’ve experienced great wage growth in recent years.
To make things even better, both cities have plenty of high-performing schools. According to Niche.com, the Boulder valley school district is the 5th best school district in Colorado and plenty of schools all across Denver are consistently well-reviewed and top-rated.
So, it’s safe to say that both cities currently have great job markets and your kids will still receive quality education year-round in either location.
Key Differences Between Denver Real Estate And Boulder Real Estate
For all the commonalities that these Colorado cities share, they also have some clear differences.
Pricing is typically considered to be the most significant difference between Boulder and Denver properties. Of course, home prices can change over time due to housing market trends, the time of the year, the current temperature of the market, and for many other factors. That being said, there is currently a significant gap between the average costs of homes in both cities.
As the markets currently stand, the median listing price for homes in Denver is approximately $489,000 (Realtor.com). Meanwhile, the median listing price for homes in Boulder is roughly $799,900, according to the National Association of Realtors. While those numbers are currently based on the available inventory on the market, it should give you a clear picture of which properties you can expect to be more expensive.
We should also point out the fact that both markets are currently balanced in different directions. Again, market conditions can change in the future, but right now Denver, CO is a buyer’s market. This means that there is currently a greater supply of homes in the metro area than there are buyers. These conditions present a terrific opportunity for buyers, as they can expect less competition and great influence throughout the real estate transaction.
Just 27 miles away in the foothills of the Rockies, market conditions are slightly different. As the supply and demand of homes in Boulder are roughly the same, the real estate market of Boulder is balanced. This means buyers and sellers are more on a level playing field and neither party currently has much advantage over the other.
It’s important to keep these conditions in mind as you compare the two markets.
It’s no secret that both Boulder and the Mile High City are more progressive places to live. Residents in each city are sustainably-minded and both places are taking big steps to combat climate change. However, Boulder’s sustainability is very much ahead of Denver.
Boulder is considered to be one of the most sustainable places to live in the U.S. The city has numerous green initiatives from open space projects to composting programs. And this environmentally-focused drive exists in all aspects of Boulder life, including building designs.
Of course, there are properties in Denver that have sustainable features and those numbers will only increase in the coming years. However, Boulder has a greater number of properties with energy-conserving installations that make those residences more eco-friendly. In fact, a 2018 survey from Realtor.com ranked Boulder county as sixth in the nation of highest percentage of home listings with green features (e.g., solar panels, smart thermostats, bamboo flooring, dual pane windows, etc.).
Which Market Is Right For Me?
It’s clear that while there’s overlap between Denver real estate and Boulder homes, there’s also plenty of differences between their listed properties. At the end of the day, it just really comes down to your buying power and your desired lifestyle.
If you have a more sizable home buying budget and you’re looking to lead a more sustainable lifestyle, then Boulder may be the right market for you.
On the other hand, if you’re looking to want more options and you want more power throughout the entire home buying process, then Denver may be the right spot for you.