10 hottest neighborhoods in Boulder and Longmont

It would be hard to argue, given record-setting home prices in 2017 across Boulder County, that many; if any local neighborhoods don’t fit the description of “hot real estate.”

But even as the region’s overall housing market continues blazing, some neighborhoods are glowing more than others.

Land Title Guarantee Company, a local firm that facilitates real estate transactions, recently compiled a breakdown of the hottest neighborhoods in the Boulder and Longmont areas.

Around Boulder, those neighborhoods were determined to be Buckingham Green, Park Lake, Seven Hills, Dakota Ridge, and Maxwell.

In the Longmont area, the hottest neighborhoods were identified as Somerset Meadows, Idaho Creek, Yeager Farm, The Valley, and Chance Acres.

These areas were identified using a formula that analyzed assessor office records to determine turnover rates, which measure what percentage of homes in a given subdivision were bought and sold over the course of last year. Turnover rates range from 9 percent to 17 percent.

The availability of this information is a benefit for real estate industry professionals, home buyers, sellers, and homeowners, said Melanie Bimson with Land Title Guarantee Company.

“This is something that my neighbors would want to look at. They would want to know about their city, they want to know what’s going on,” Bimson said.

The lists include diverse community types, from places near the hustle and bustle of city cores such as Longmont’s Yeager Farm and Boulder’s Maxwell to more secluded and farther-flung areas such as Seven Hills west of Boulder.

“Ditch the car and walk around”

“I notice a big difference between people who are looking for proximity to downtown and the central core and people who might have other priorities like more space,” said Josh Hunter, owner of Longmont’s St. Vrain Realty.

Alex Yeardley, whose home off 6th Street in Boulder straddles the Maxwell and Mapleton subdivision boundary, said, “It’s awesome being in walking distance to coffee shops, to bars, to the (Pearl Street) Mall.”

“There’s always stuff going on around here,” he said.

Grant Muller, owner of Boulder-based Spaces Real Estate, said that excitement, energy, activities, and walkability can go a long way toward making a particular neighborhood attractive.

“People want to be able to ditch the car and walk around,” he said. In many of Boulder’s most popular neighborhoods, “you can walk out your front door and hit some world class restaurants and then walk a little farther and be on some fantastic hiking trails,” Muller said.

For real estate professionals and home buyers “it’s important to know your neighborhoods and what is attractive to those particular places,” Hunter said. “Know the parks, know the restaurants and breweries, know the roads in and out of town.”

Crucial for commuters

Roads in and out of town played a key role in certain neighborhoods grabbing a spot on Land Title’s list.

For example, Idaho Creek is situated far east of Longmont’s core and very close to the interchange at Highway 119 and Interstate 25.

“It’s super easy to get on I-25, it’s right there,” Bimson said. “So if you’re someone who commutes to Denver every day, that might be an ideal place.”

Hunter agreed, adding that “commuting is a big issue” which can lead to increased “popularity (for neighborhoods) more on the outskirts of town” that are closer to major roadways.

It’s not just commuters heading to Denver who are helping make Longmont neighborhoods hot, but also commuters to Boulder.

“Longmont is growing up quickly, particularly in areas southwest (of the city) with proximity to Boulder,” Muller said.

Somerset Meadows — the Longmont area’s hottest neighborhood — is only about a mile from Diagonal Highway, which provides drivers a straight shot into Boulder.

That’s how neighborhood resident Jennifer Martinez gets to her job at a Boulder software company.

“It’s usually a pretty quick drive,” she said while walking her dog near her home. “Plus, it’s a lot more affordable (in Longmont) than down (in Boulder) — you can get more for your money.”

Money, money, money

Not surprisingly, price is typically one of the biggest factors in where people choose to buy homes.

“When we sit down with buyers, often the first thing that comes up is price range,” Hunter said.

Binson said its relatively low average price likely helped Idaho Creek make Land Title’s hot neighborhoods list.

Idaho Creek was identified as the least expensive neighborhood in the Longmont area with average home prices of just over $282,000, according to Land Title’s data. The most expensive neighborhood in the area was Foothills East where home prices average more than $1.16 million.

In the Boulder area, the most expensive neighborhood, Mapleton, had average home prices that topped $2.7 million. The least expensive neighborhood was Twin Lakes where average prices were about $461,000

While Idaho Creek — and other similar neighborhoods in Longmont — are still seen as a more affordable alternative to Boulder and other Front Range communities, prices are on the rise in Longmont.

In fact, during 2017 cost growth in Longmont significantly outpaced cost increases Boulder.

Median sales prices for single-family homes in Longmont grew 11 percent to $405,000 between December 2016 and December 2017, according to data from the Boulder Area Realtor Association. Growth in Boulder was 1.2 percent with median sales prices ending 2017 at $855,000.

Median prices in Boulder County — which ended 2017 at $550,000 — are the highest in the region. The Denver metro area ended the year with median prices just under $400,000, according to data from the Denver Metro Association of Realtors.

But, for those who want a part of Boulder County and the lifestyle here, you get what you pay for, experts say.

Regardless of which particular neighborhood you live in, “this is a really special place,” Bimson said. “… At the end of the day, people just want to be here and that creates demand.”

Lucas High: 303-684-5310, lhigh@times-call.com, twitter.com/lucashigh