The latest Home Price Index put out by FHFA.gov shows that Boulder County is in the top 12% of areas in the United States for home appreciation. The report shows that homes in Boulder County appreciated 1.67% during the 4th quarter and 9.27% during 2014. This ranks 34th best out of the 275 areas in the survey. The United States as a whole had home appreciation of 4.91% during the year. FHFA is the government agency that is charged with oversight of the housing sector.
The first graph below shows Boulder’s home price appreciation compared to the United States. Each bar shows the home value change for the previous four quarters. During 2009 – 2011 our area had less extreme losses in value. In 2012 the U.S. as a whole bounced back more quickly than we did. In 2013 our returns were similar to the nations average. But in 2014 our market has been much stronger than the United States as a whole. Over the past five years the cumulative appreciation in home prices in Boulder County has been 19.39%. For the United States it was 11.59%.
The chart below shows our national ranking. Currently it’s 34th out of 275. The lower number the better our market is performing compared to the average home in the United States.
The way things are going so far this year, I would expect that our ranking would stay strong if not improve. We are seeing multiple offers on homes and condos in Boulder right now. Having over 10 offers is not unusual and properties are routinely going for more than 5% over asking price.