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Wealthy out-of-town buyers pushes up Boulder home prices

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Posted at 1:58 PM, May 05, 2018
and last updated 2018-05-05 15:58:56-04

BOULDER, Colo. (AP) — The average price of a single-family home in Boulder has risen to $1.2 million thanks to a spate of sales of $2 million-plus homes.

The Daily Camera reports that activity in the $2 million-and-over market ticked up precipitously, with 18 such first-quarter sales in the city. That’s up from five during last year’s first quarter, and more than triple the five-year high. Two-million dollar home sales have not exceeded single digits in any of the previous five years.

Multi-million dollar deals have even pushed up the average price of more affordable condos and townhomes. A $5.5 million condo in downtown Boulder largely drove a 23 percent increase in average price over 2017.

Real estate agents say Boulder’s relative global affordability is attracting out-of-town buyers who are purchasing high-end houses.