[BoulderCouncilHotline] Home Sales

[Grano, Jill]

Last night at Council Cindy asked if I would post on Hotline the figures that I shared at the meeting.


Since 12/01/2017 (so, one year) there have been 99 home sales (or homes under contract for sale) of homes that are $1.5 million or MORE of homes that are 3500 sq ft OR LESS (using the way the City counts square feet per our discussion last night).  There have been 47 home sales (or under contract for sale) for $2 million or more on homes that are 3500 sq ft or less.  There are 15 more that are currently listed for $2 million or more that are 3500 sq ft or LESS.  The number that I quoted last night was 62 homes over $2 million that are 3500 sq ft or LESS in the last year.  That number was the 47 + the 15 (so, included those that are listed, under contract and sold). (*Important Note: These are only the sales recorded in MLS. There are many sales each year that happen "off market" so I would increase both numbers by about 20%).


As I hope I have been clear about from the beginning, I am in complete support of the idea of up-zoning and encouraging "more smaller" rather than "few large."  The reason I brought up the numbers above was just to be sure that we do not conflate smaller with affordable.  $2 million is obviously more affordable than $3 or $4 million, but it's still not affordable (as Aaron helped articulate as I was fumbling with words).  Again, in our low density residential zones (which make up the majority of our residentially zoned land), I believe that we need more, smaller, AND more flexibility within them (ADUs, occupancy, co-ops, Tiny Homes, etc) if we are going to begin making a dent in the affordability of these zones. While new taxes are tough, we could also consider a "ghost fee" like London did or a "property flip fee" like some communities are considering (https://northendwaterfront.com/2018/11/city-council-continues-to-work-on-housing-speculation/).


Warmly,


Jill Adler Grano

Boulder City Council

granoj at bouldercolorado.gov

303-917-6810


"The trouble is that once you see it, you can't unsee it. And once you've seen it, keeping quiet, saying nothing, becomes as political an act as speaking out. There's no innocence. Either way, you're accountable."
-Arundhati Roy

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