Louisville is a vibrant, active community in Boulder County with approx 18,000 residents. With a rich history of mining and Italian settlers, it now is a fantastic suburban community with a terrific downtown with great restaurants – one of my favorites being LuLu’s BBQ (which rates 4.5 stars with over 700 reviews on Googles), lots of activities (more on that below) and a friendly community that makes it quickly feel like home.
What We Love About Louisville
Louisville is ideally located just a few miles East of the City of Boulder and West of Broomfield, and Denver. Easy access to Highway 36 makes it convenient to get just about anywhere. The views from many homes in Louisville include panoramic Front Range mountains.
While Louisville began in 1877 as a mining town, the current residential community is considered one of the best to live in the country – in fact CNN?Money, Family Circle Magazine,Denver Business Journal, and Money Magazine have ranked Louisville as one of the Best Places to live and raise a family in the U.S. There are 6 private and 6 public schools within approx 8 square miles of Louisville.
The Summer Louisville Street Faire is an attraction to all residents with Friday evening concerts at the Steinbaugh Pavilion and lots of street vendors and a truly fun atmosphere for all ages.
Louisville has its very own Farmers Market on Saturdays which attracts a big turnout and runs form May to October at the 800 block of Front Street.
We love the easy access to approx 32 miles of walking and biking trails and of course easy access to everything the Front Range offers. Most of all though, it is the sense of friendliness and community that stands out and makes Louisville, Colorado, one of the best places to live in the U.S.
Louisville Real Estate Market Overview and Update
This month we’re taking a deep-dive and looking more in-depth at real estate activity and sales in Louisville. Unlike last month, Single Family home sales, when the data for Louisville and Lafayette was practically identical, this month the data couldn’t be more different! The condo market is much tighter and the single-family homes has a bit more inventory, and nearly the same number of sales. Homes are taking more time to sell, selling for less money (the higher average price is due to the higher-end selling more than the middle, not appreciation). There is (a bit) more inventory as the the market is cooling off to a *slightly* saner level, yet we are still firmly and STRONGLY a seller’s market (with less than 1 mo of inventory.)
The short version is that while we are seeing a slight slowdown, the real estate market across the board is still very strong. With the relatively small numbers to analyze, a few homes closing earlier or later can really swing the monthly data. Buyers are taking a bit longer to make a buying decision than last year mostly due to being inventory-constrained. Now that there is more inventory to choose from, they have the opportunity to be a little pickier and are snapping up the “good” homes. This could be the very beginning of a market shift, or is it?
Now in the Condo/Townhouse market in Louisville, we are seeing similar trends as above and the market is cooling off *slightly* even though average list prices are up and new inventory is down, days on market is up, which translates into the the amount of time it takes a home to sell. This means that like in other markets, buyers are taking their time and being picky and not willing to overpay.
Louisville has a lot going for it and really stands on it’s own as an extremely desirable town (as witnessed by the real estate market!) From the quaint and vibrant downtown (Hello Lula’s BBQ, with it’s lovely patio to hang out on while waiting for a table or Bittersweet cafe to lounge in) with it’s Friday Street Faire concert series and farmers’ market to the unsexy, but ease of shopping for everyday items along McCaslin, which by the way has Busaba, the the area’s BEST Thai food – even Boulderites with their huge number of restaurants to choose from travel there for a fix of the area’s best Thai as reviewed by 5280 And let’s not forget all the lovely greenspace and trails.
What Does This Mean For Home Buyers?
Buying a home these days can be challenging. With increased home values it is hard to make the income aspect keep up. But, don’t despair. Right now interest rates are slightly lower, helping with that affordability challenge. Yes, owning your own home still makes sense, financially and otherwise. While you enjoy your home you can build up equity, or even “sweat equity” if you are handy and fix up yourself. All the improvements you make to your home belong to you, not the landlord.
Louisville is truly a solid choice for home buyers. If you’re looking for your first home, a condo or townhouse might be the best option and will cost anywhere from the low $200’s to the mid $800’s Alternatively, single family houses can be found starting in the low $500,000’s and going up to as much as $2 million for a very special and spacious home.
What Does This Mean For Home Sellers in Louisville?
Louisville is a very desirable. As noted above, Louisville has been recognized as one of the best towns to live in the US. With that kind of desirability comes higher home prices and competition which is generally desirable for sellers. Having said that, it is critical to price correctly.
To do that, you will need to review the recent sales and competition in your particular neighborhood and compare based on location, size (house and property), condition and updates. Most buyers are not willing to take on a project unless financially incentivized to do so. Your real estate broker can provide you with this data as well as recommendations on preparing your home for sale and profit.
Homes-in-Boulder Team offers Home Selling Seminars regularly. Check for upcoming seminars HERE
More Boulder Area Real Estate Market Data
If you’re in the market to buy or sell a property in Louisville or anywhere in the Boulder County area, contact us for a confidential and free consultation to help you understand your hyper-local market and assess the current market value of your home. We will also assist you with preparing your home for sale, mapping out your plan to help you sell your property for the highest possible price with the least inconvenience. Call 720-295-1604 or email firstname.lastname@example.org