Business Week Magazine names Boulder the #1 Strongest U.S. Housing Market

8/17/2009

The last year has been difficult for our nation’s real estate market. We’ve watched markets that were on fire in 2006 and 2007 plummet in 2008 and 2009. The “Boulder bubble”, however, is far from being burst. Penetrated, yes: our average ‘days on market’ is longer and absorption rates are slower. But Boulder’s average median price in the residential housing sector continues to march upward.

This week, BusinessWeek Magazine ranked Boulder Colorado the #1 real estate market in the country. Working with data from Zillow.com, the study ranked metro areas based on single-family homes were values increased in the second quarter compared with the second quarter of 2008. BusinessWeek cited that 59.39% of homes in Boulder appreciated since last year and the median home value rose 2.12%.

The article noted that Boulder has several factors to thank for the steady real estate market. First, are the City of Boulder’s efforts to control growth. The city has put limits on development and requires more than 50,000 acres of open space for a greenbelt that surrounds the town. These efforts have restricted the supply of new homes, thus keeping existing home prices up. Second, is steady stream of tenants and jobs provided from the University of Colorado. Third, and most important for the people who choose to live here, is the beauty and originality of the area.

If you’ve ever dreamed of owning a piece of Boulder real estate, there’s no time like the present.

The top 10 cities on the BusinessWeek list: 

1. Boulder

2. Spartanburg, S.C.

3. New Orleans

4. Binghamton, N.Y.

5. Fayetteville, N.C.

6. Pittsburgh

7. Little Rock, Ark.

8. Gainesville, Ga.

9. Burlington, N.C.

10. Oklahoma City

Fort Collins made the BusinessWeek list at #19.