Martin Acres (Boulder, CO)
Martin Acres (Boulder, CO) Real Estate News
David pendergrast
March market update for the Martin Acres neighborhood
David Lorraine (8z Real Estate)

On February 28th I pullsed the market statistics for real estate in Martin Acres. Read below for the stats and my insight in what this means for Martin Acres buyers and sellers.

Median Price: Holding steady year to date at $370,000. That's exactly what it was year to date 2010.

Days to Sale: Down 10% (that's good). Properties are selling more quickly on average. The average time it takes from list to sale is 200 days instead of the 222 days it took year to date 2010. The good listings are still getting scooped up quickly and closing in 30 to 60 days but it's nice to see the overall average coming down. 

Three homes went under contract in February. This was the same amount of listings that went under contract in January.

Six listings came on the market for the first time in February. This number is the one that set us back just a tad. There were only five new listings that came on the market in January. It would be fine to have more listings in February if we also had more sales. But that wasn't the case. 

Absorption Rate: At the end of February there were 18 listings on the market. Divide that by the 3 listings that went under contract and we see that the absorption rate for February went up to 6 months worth of inventory. Six months is still a healthy market. We just want to keep our eye on this number to be sure it doesn't continue the trend up. High absorption rate = cold (Buyer's market)... Low absorption rate = hot (Seller's market). Five to six months is a nicely balanced market. 

But hey, we're still doing better than Boulder as a whole which continues to hover around 10 months worth of inventory.

Want to get a picture of Boulder real estate and the Martin Acres homes for sale right now?  Visit our resources:

David pendergrast
A Brick Ranch on 42nd
David Lorraine (8z Real Estate)

Last week I was touring a home on 42nd in Boulder Martin Acres neighborhood and wanted to catch a video and listing review for the Martin Acres home. This Brick ranch home is in a very decent condition but could benefit from some TLC.

Similar homes in the neighborhood have been selling for between $325,000 and $426,000 with the median price being $392,000.

In terms of this home, it entered the market on February 16th, 2011 for the price of $409,900. This property was last listed in the MLS system in 2006 at which time the current owners wrote an offer and went under contract just seven days after the listing made its debut. 45 days after that they purchased the home for the asking price of $395,000. I wouldn't be surprised if it goes under contract fairly quickly this time around too.

For more about the interior of the home visit the Boulder home listing review article.  There is also a link to view a 360 degree tour of 42nd Street where this home is located.  As always if I can help you with this or other Martin Acres homes, I am glad to help.

 

David pendergrast
The pop-top on 32nd
David Lorraine (8z Real Estate)

Two weeks ago I took a look inside a home I must tell my neighbors about, 70 S 32nd Street.  Then listed at $550k. 

It is a beautiful remodel and pop-top.  The home is in a great location and has mountain views. It started out as a small brick ranch and is now a truley amazing two story home in the Martin Acres subdivision. There are only two 2-story properties on the market right now in the Martin Acres Neighborhood including this home. And there were only two 2-story properties that sold in 2010 that could be considered comparable listings.  

I was thoroughly impressed with this house. The flow and the design felt thoughtful and tasteful. It has high end finishes throughout and is very well cared for. Enter to a big open first floor. There is a coat closet at the entrance creating some seperation. The kitchen with an island is straight ahead, dining area to the right, and an expansive living room to the left. Through the living room is the fourth bedroom which has a door to the back yard. Other than the coat closet and the fourth bedroom at this floor is completely open and the kitchen completes the 'L' shape. The staircase is at the back of the house and does not cut in to the floor plan at all. It's tucked off on the side. Upstairs you enter to a landing with the washer/dryer in it. Two bedrooms and a shared full bath are at the start of the hall, and down at the end of the hall you march right into a luxurious master sweet. There's a walk-in closet and a really nice 5-piece bath. Besides the large size a great selling point are the mountain views out of the window.

To view this home's listing information visit COhomefinder

View the full listing review on 8z Real Estate

Stay in the loop of everything Martin Acres on Martin Acres Pulse

View other Martin Acres Real Estate listings in Boulder

Contact me for help with your Boulder Real Estate search

David pendergrast
February Real Estate Update for Martin Acres
David Lorraine (8z Real Estate)

Real estate in the city of Boulder as a whole finished off the year strong.

  • Median price was up 5%
  • New Listings were down 15%
  • Number of sales was up 3%

Well the year is off to a slow and steady start in Boulder's Martin Acres. Currently the market is...

  • Heavy on the listing side and light on the sales side. There were 5 new listings in Jan 2011 compared to the one new listing in Jan 2010.
  • Yet, January 2010 had 3 sales whereas we've only had 1 this year. The Martin Acres home that sold was a Cape Cod with 4bd/2ba on Martin Dr for $415k, down from original listing price of $430k in 7/2010.
  • Under contracts are also down from last year. Three houses went U/C in January 2011 compared to the seven in Jan 2010. 2011 will need to see more sales or else the Martin Acres market will get saturated with housing inventory. 
  • If we look just at the month of January there were 3 listings that went under contract. With 15 listings on the market (as of January 31st) that means the absorption rate went down to 5.0 months worth of inventory. That’s a nicely balanced market.
  • Prices are holding steady as of now with the median price hovering right around $390,000 but we need to start closing the gap between the high number of listings and the low number of sales or we might see a dent in the median price.

In a small market like the Martin Acres Neighborhood the peaks and valleys are more dramatic than when you are looking at a broader market like the entire city for instance. So there isn’t any reason we won’t have a healthy year.

Bottom line is that the Martin Acres market is a little chilly right now but not so cold that we can’t warm up by spring. We just need to continue with January’s pace and keep the inventory turning over. This could be a good year.  I will gladly keep you updated here and on 8z.com of real estate updates as we progress through 2011 on the condition of the Boulder and Martin Acres markets.

David pendergrast
The different home models found in Boulder's Martin Acres
David Lorraine (8z Real Estate)

Over the past couple months I've been doing a little research of the homes built in the Martin Acres neighborhood. For those of you who may be researching South Boulder Colorado real estate, Martin Acres is a great community South of the CU campus and convenient still to the best amenities of Boulder.  Martin Acres is made up of three parts: Martin Acres, William Martin Homestead and Highland Park. In my research helpful resources to identify model names and builders incluuded: The Historical Context and Survey of a Boulder’s Post WWII Residential Architecture and The Historical Survey of Boulder’s Post WWII Residential Architecture. These surveys appear to cover the time period of 1947-1977.

Below are the  model names, builders, and subdivisions. 

* Arlington – Built in Highland Park subdivision by Turnpike Builders

* Highlander – Built in Highland Park subdivision by Turnpike Builders

* Coloradoan – Built in Highland Park subdivision by Turnpike Builders

* 1 – Built in Martin Acres subdivision by Francis & Williams

* 2 – Built in Martin Acres subdivision by Melody Homes

* Turnpike – more information to come...

* Holiday – Built in Martin Acres subdivision by High Country Homes, Survey Page 28

* Foothills 1200 – Built in Martin Acres subdivision by High Country Homes, Survey Page 28

* Martinique – I am working to verify the accuracy of this model name.

 In-depth follow-ups to come in due time - There is always more to learn about a neighborhood!  My website, MartinAcresPulse.com has information about these models, property reviews, as well as information about living in Martin Acres. 

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