Gunbarrel is a section about 10-15 minutes from downtown Boulder, Colorado, and offers a unique and delightful setting surrounded by bucolic farms, with friendly neighbors, fantastic panoramic mountain views, and a vibrant shopping/dining area. With several breweries, including the famous Avery, great restaurants like The Morning Table and The Element. All the conveniences plus running/biking trails that connect our neighborhoods and communities. Not to mention, for those who enjoy golf, tennis, pool and a first-class fitness center at Boulder Country Club.
All in all, Gunbarrel, is a (relatively) hidden gem!
What We Love About Gunbarrel
Within an area of approximately 6 square miles northeast of the city of Boulder proper. According to the 2010 census the Gunbarrel population is just over 9,000 with about 4,000 households. Gunbarrel is in part within Boulder City limits and in unincorporated Boulder County. Addresses can be Boulder or Longmont, and those can be very close to each other. It’s a little confusing, for sure!
Gunbarrel offers a unique and delightful setting surrounded by farms, with friendly neighbors, fantastic mountain views, and a vibrant shopping/dining area. With several breweries, including the famous Avery, great restaurants like The Morning Table and The Element. All the conveniences plus running, biking trails that connect our neighborhoods. Not to mention, for those who enjoy golf and tennis, Boulder Country Club. All in all, Gunbarrel, with is a relatively hidden gem!
The Boulder Reservoir and Coot Lake (see photo on left) are just some of the close-by outdoor spaces for your enjoyment. Gunbarrel Hill is another, and the LoBo Trail winds its way from Boulder through Gunbarrel, Niwot, and to Longmont.
Gunbarrel Real Estate Market Overview and Update
As of Spring 2019, Gunbarrel is still seeing a strong market. However, at any given time there are relatively small numbers to analyze, a few homes closing earlier or later can really swing the monthly data. Buyers are still buying at close to the same rate they were last year at this time, but there is more inventory to choose from. This gives buyers the opportunity to be a little pickier while snapping up the updated, well-priced homes fast.
In 2018, 132 single family homes were sold, down 4% from 2017, with an average sales price of $762,879, up 10.3% from 2017. The median sales price was up 6% to $698,000. Days on market went down by 12% to 44 days before contract.
While home prices can go up into the $3 million range, those are rare. The highest home sale in 2018 was for a 6200sf home backing to Boulder Country Club. 7095 Rustic Trail was on the market 73 days and offered 5 bedrooms, 7 baths.
Condos and townhomes are significantly different that we split them out and look at their data separately form single family, and, in 2018 there were 97 condos and townhouses sold in Gunbarrel – 5.4% more than in 2017, while average and median sales prices were both just over 10% higher and $375,859 and $340,000 respectively. Days on on market were down almost 17% to 35 days. There are quite a few condominiums and townhouses in Gunbarrel, ranging from the $200,000s to over a million. The bulk of them, though, is in the $300-500K range.
The least expensive sale was an anomaly – $194,585 for a 625 sf, 1 bed/ 1 bath condo on Williams Fork Trail.
What Does This Mean For Home Buyers?
Buying a home these days can be challenging. With increased home values and increasing interest rates it is hard to make the income aspect keep up. But, don’t despair. It still makes sense, financially and otherwise to own your own home. The good news that as of this writing, interest rates have settled down in the 4.5% range. While this may seem high relative to the low of 3.75%, it is still very low and taking advantage of this low rate will impact the cost of your home significantly.
Gunbarrel is a (hidden) gem for home buyers. If you’re looking for your first home, a condo will cost anywhere from $300,000 to $500,000. A nice townhouse will be in the $500,000 to $1 million range, and houses can be found starting in the $500,000’s and going up to as much as $3 million for a fantastic golf course home.
What Does This Mean For Home Sellers in Gunbarrel?
Gunbarrel is a very desirable area of Boulder. It offers a less dense, more bucolic setting than much of Boulder proper. For those looking for a little bit more space, Gunbarrel is a great option. Country Club, Gunbarrel North, Gunbarrel Green, Heatherwood, Twin Lakes and various other communities offer many options for buyers. The lack of inventory in years past means pent-up demand that will help home values continue to improve. However, the pace and rate may not be quite as high as in recent years.
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.
Since 2013 Jason has been honing the skills to provide you with one of the best experiences in selling or buying your home: one that is as smooth and as stress free as possible.
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