The Boulder housing market has been on a rollercoaster ride in recent years, with prices soaring to record highs and then experiencing a slight dip. As we move into 2023, many are wondering what the future holds for this desirable Colorado city. Will prices continue to rise, or will we see a further decline? In this article, we'll explore the latest trends and forecasts for the Boulder housing market, providing valuable insights for both buyers and sellers.
Boulder Housing Market Trends for 2023
Boulder County, CO is a beautiful and thriving area located in the foothills of the Rocky Mountains. With its stunning scenery, top-rated schools, and booming economy, it's no wonder why so many people are looking to buy or sell homes in this area.
Median Listing Home Price vs. Median Home Sold Price
According to realtor.com, the median listing home price in Boulder County, CO in February 2023 was $781K, which is up 5.5% from the previous year. The median listing home price per square foot was $379, and the median home sold price was $700K. This indicates that there is still room for negotiation when it comes to the final sale price.
Sale-to-List Price Ratio
In February 2023, homes in Boulder County, CO sold for approximately 99.34% of the asking price on average. This indicates that sellers are still able to get close to their asking price, but buyers may be able to negotiate a slightly lower price.
Median Days on Market
On average, homes in Boulder County, CO sell after 45 days on the market. The trend for median days on market in Boulder County, CO has gone down since last month, and slightly up since last year. This suggests that the market may be starting to favor sellers more.
Overall, Boulder County, CO is currently a buyer's market, with a good selection of homes available for sale and rent. While prices are slightly higher than the previous year, there is still some room for negotiation. With its desirable location, excellent schools, and strong economy, Boulder County, CO is a great place to buy or sell a home.
Single-Family Homes
According to the latest report released by the Colorado Association of Realtors, the Boulder housing market continued to show a downward trend in February 2023 compared to the same month in 2022. The number of new listings decreased by 1.6%, with 241 new listings in February 2023 compared to 245 in February 2022. Meanwhile, the number of sold listings decreased significantly by 34.4%, with 120 sold listings in February 2023 compared to 183 in February 2022.
The median sales price also saw a decrease of 3.2%, with a median sales price of $842,500 in February 2023 compared to $870,000 in February 2022. The average sales price saw a slight decrease of 0.2%, with an average sales price of $1,127,868 in February 2023 compared to $1,130,413 in February 2022. The percent of list price received decreased by 7.5%, with a rate of 98.1% in February 2023 compared to 106.1% in February 2022.
The days on the market until sale increased significantly by 84.8%, with an average of 61 days in February 2023 compared to 33 days in February 2022. The inventory of homes for sale increased by 132.3%, with 381 homes for sale in February 2023 compared to 164 in February 2022. This led to a 220.0% increase in months supply of inventory, which rose from 0.5 in February 2022 to 1.6 in February 2023.
Overall, these metrics indicate that the Boulder housing market continues to face challenges in 2023, as the number of sold listings, median sales price, and percent of list price received all declined, while days on market until sale and inventory of homes for sale both increased significantly.
Boulder Housing Market Forecast 2023-2024
Based on the data from Zillow, the Boulder housing market is expected to experience a slight decline in the next year. The Boulder MSA level forecast predicts that the market will decline by 0.2% by May 2023 and by 1.9% by February 2024.
The average home value in Boulder County is currently $730,019, which is up 1.0% over the past year. Homes in Boulder County go pending in around 36 days, with a median sale to list ratio of 0.979. As of January 31, 2023, 18.6% of home sales were over the list price, while 66.1% were under the list price.
For buyers, this forecast means that they may have more bargaining power in the market, as home prices are expected to decline. However, buyers should still be prepared for a competitive market, with a significant percentage of homes still selling above the list price. On the other hand, sellers should be prepared for a more challenging market, with prices likely to decline. They may need to adjust their expectations and consider different strategies to make their properties stand out to potential buyers.
Looking ahead, the Boulder housing market is likely to continue to be influenced by factors such as job growth, mortgage rates, and inventory levels. While there may be some short-term fluctuations, the long-term outlook for the Boulder housing market remains positive, given the city's strong economy, attractive lifestyle, and limited supply of housing.

Boulder Real Estate Investment Overview
Boulder, Colorado, is a vibrant city known for its natural beauty, cultural attractions, and thriving economy. With a population of around 100,000, it is one of the fastest-growing cities in the United States. The city's real estate market has been consistently strong over the years, with home prices increasing at a steady pace. In this overview, we will explore the Boulder real estate market and examine whether it is a good place for real estate investment.
The average home value in Boulder County is $730,019, according to Zillow. This figure represents a 1% increase from the previous year, indicating that the market is stable and not subject to sudden fluctuations. Homes in Boulder County typically go under contract within 36 days, which is faster than the national average of 68 days.
The Boulder real estate market has a lot to offer investors. One of the primary advantages of investing in Boulder is the city's strong and diverse economy. Boulder is home to several major industries, including aerospace, biotech, and technology. The city's economy has been growing at a steady pace, which has led to a high demand for housing. This demand is expected to continue, given the city's high quality of life, natural beauty, and proximity to Denver.
Another advantage of investing in Boulder real estate is the city's excellent infrastructure. The city has an extensive network of highways, which makes it easy to travel within the region. Additionally, Boulder has a well-developed public transportation system, including buses and light rail. This infrastructure is essential for real estate investors, as it makes it easier for tenants to access their properties and increases the overall value of the real estate in the area.
Boulder is also known for its exceptional schools and universities. The University of Colorado Boulder is one of the largest employers in the city and is known for its world-class research programs. This has led to a large population of students and faculty in the area, which has increased the demand for rental properties. Additionally, the city's excellent public schools have attracted families with children to the area, which has led to an increased demand for single-family homes.
Investors should also be aware of the challenges of investing in Boulder real estate. One of the primary challenges is the high cost of living in the city. The cost of living in Boulder is 29% higher than the national average, which can make it difficult for investors to find affordable properties. Additionally, the city's stringent zoning laws and building codes can make it challenging to build new properties, which can limit the supply of available housing.
Despite these challenges, the Boulder real estate market remains a strong and attractive investment opportunity. The city's strong economy, excellent infrastructure, and high quality of life make it a desirable place to live, work, and invest. Investors who are willing to navigate the challenges of the market can find excellent opportunities to grow their real estate portfolios in Boulder.
Hence, the Boulder real estate market is an attractive investment opportunity for those looking for stable, long-term growth. While the high cost of living and stringent zoning laws can make it challenging to find affordable properties, the city's strong economy, excellent infrastructure, and high quality of life make it a desirable place to live and work. For investors willing to put in the time and effort, the Boulder real estate market offers excellent potential for growth and returns.
It’s only wise to think about how you can and should be investing your money. In any property investment, cash flow is gold. A good cash flow means the investment is, needless to say, profitable. A bad cash flow, on the other hand, means you won’t have money on hand to repay your debt. Buying or selling real estate, for a majority of investors, is one of the most important decisions they will make.
Choosing a real estate professional/counselor continues to be a vital part of this process. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates.
NORADA REAL ESTATE INVESTMENTS strives to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in the U.S. growth markets. We can help you succeed by minimizing risk and maximizing profitability.
Another upcoming market to choose from for real estate investment is Frisco, Texas. Frisco is a rapidly growing and appreciating suburb in the Dallas-Fort Worth area. It is so desirable that it attracts locals relocating to the area in addition to those moving to Texas thanks to its lower tax burden, cheaper real estate, and improved quality of life.
If you’re considering Frisco real estate investment, one point in favor of this area over other Dallas suburbs is the diversified real estate market. Frisco was one of the local pioneers in mixed-use developments, walkable neighborhoods modeled off older downtown areas. This is attractive to Millennials. Frisco is also rapidly building multi-family housing, though this is barely keeping up with demand. Yet the Frisco housing market retains a large number of single-family homes.
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Remember, caveat emptor still applies when buying a property anywhere. The information contained in this article was pulled from third-party sites mentioned under references. Although the information is believed to be reliable, Norada Real Estate Investments makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. All information presented should be independently verified through the references given below. As a general policy, Norada Real Estate Investments makes no claims or assertions about the future housing market conditions across the US.
References
- https://www.zillow.com/boulder-co/home-values
- https://www.redfin.com/city/2025/CO/Boulder/housing-market
- https://www.neighborhoodscout.com/co/boulder/real-estate
- https://www.zumper.com/rent-research/boulder-co
- https://www.realtor.com/realestateandhomes-search/Boulder_CO/overview
- https://www.coloradorealtors.com/market-trends/regional-and-statewide-statistics/