the silver fern report: boulder real estate analysis

THE SILVER FERN REPORT: BoulderAn analysis of real estate market conditions in

Boulder, Colorado

Real Estate AdvisersBoulder, Colorado

Phone: 303 586 1241www.silverfernhomes.com

Make a Smarter Real Estate Decision

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Legal

This presentation was prepared exclusively for the benefit and use of the Silver Fern Homes clients in order to assist their study of real estate market conditions. This presentation is for discussion purposes only and is incomplete without an in-person, oral presentation by Silver Fern Homes. This presentation reflects our views of prevailing market conditions on this date, which are subject to change. Silver Fern Homes recommends careful and complete due diligence before buying or selling real estate or other investments. The following presentation is not to be construed as legal, tax, or investment advice. Silver Fern Homes will not be held liable for investment decisions derived from this presentation. Previous market performance is not a guarantee of future results and there is financial risk associated with buying or selling property. Consult with your financial, legal, and real estate advisers before making an investment decision. The data in this presentation was obtained by private and public sources, without independent verification.

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The TeamOsman Parvez: Co-Founder and Associate Broker. Osman’s professional experience includes investment analysis, real estate development, and investment banking. He also loves being in the wilderness and has research experience studying the impacts of climate change. Osman holds an MBA in finance and a B.S. in Biology Email: [email protected] ph: 303.746.6896

Dallice Tylee: Co-Founder and Managing Broker. She holds a GRI and is a Certified Negotiation Expert, EcoBroker, and Accredited Staging Professional. A native of New Zealand, Dallice's attention to detail and thorough, disciplined approach comes from previous professional experiences in health sciences. She is passionate about interior design and landscaping. Email: [email protected] ph: 303.746.6765

Mia DeLong: Associate Broker. Mia loves historic home restoration and a creative eye for home improvement. She has six years of real estate experience and brings expertise from her experience in product management in the service industries. She holds a BBA in Marketing from UW-Wisconsin and her interests include running, biking, cooking, reading and photography. Email: [email protected] ph: 303.717.2241

Crystal Callipari: Associate Broker. Crystal’s experience as a real estate investor and home builder provides unique insight on buying, selling and marketing strategies. Prior to joining Silver Fern, she was a frequent client of the firm, giving her perspective on the quality of service clients should expect from their broker. Crystal has lived in Colorado for over 13 years with her husband. She has two grade school aged children, one of whom is a competitive figure skater and the other a black belt in martial arts. Email: [email protected] ph: 720.841.2701

Robbin Merta: Administrative Assistant. She has a B.F.A. in graphic design, experience owning several small businesses, and is studying for her Realtor's license. Her strong interest and experience in home renovation, both personally and professionally, is a practical complement to the Silver Fern team. She is a stained glass artist who also enjoys volleyball, cooking and martial arts. Email: [email protected] ph: 303.993.6139

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Table of Contents

• Notable Sales

• Inventory and Sales Volume

• Seasonal Patterns

• Last Six and Twelve Months Sales

• Days to Offer and Median Price

• Appreciation: Boulder vs. Louisville

• Summary Market Conditions

• The Future

• How to Get a Great Deal

• Addendum: Recently Sold Houses

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Boulder Inventory and Sales Volume

Inventory• The bulge from last year

is likely to return.

• 403 homes were on market last month, down 4% from last year.

Sales Volume• 41 homes sold, up 105%

from the previous year.

• Volume is higher than last year’s dismal showing.

Boulder Home Inventory

275

300

325

350

375

400

425

450

475

500

525

550

575

600

625

650

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2008 2009 2010 Data: BARA© Silver Fern Homes

Inventory bulge likely to return in 2010

Boulder Home Sales Volume

10

20

30

40

50

60

70

80

90

100

110



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LUXURY

875 Dellwood

Key Statistics: 4 Bed, 5 Bath4,897 SQFT

Sold: 2/26/10Days to Offer: 685Sold: $1,600,000Discount: 5.8%

Originally asking $2.3MM, this stunning custom home with high-end everything sat on the market for two full years before selling.

Notable Sales

ENTRY LEVEL

30 S. 32nd Street


Sold: 3/12/10Days to Offer: 6Sold: $365,500Discount: 2.5%

Showing resilience in the winds of overall market weakness, the entry level has not dropped in price and desirable properties continue to sell quickly.

MID RANGE

210 Mohawk Drive


Sold: 2/19/10Days to Offer: 4Sold: $525,000Discount: 1.9%

Featuring an amenity rich yet reasonable HOA, homes in Navajo Court are rarely available. Despite a dated interior, this one literally flew off the market.

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Seasonal Volume and Inventory

• There are strong annual market patterns in Boulder.

• Sales volume (demand) has been trailing the 5 year average by up to 60%.

• Inventory (supply) is on track for another record year, well above the 5 year average.

• Economics 101: Lower demand +higher supply = falling prices.

Boulder Sales Volume

0

20

40

60

80

100

120

140


Average ('04-'08)

2009

2010

Data: BARA© Silver Fern Homes

Boulder Inventory

300

350

400

450

500

550

600

650


Average ('04-'08)

2009

2010

Data: BARA© Silver Fern Homes

25% above average

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Sales (Last Six and Twelve Months)

• Sales volume has been dropping steadily for the past several years.

• During the last six months, sales volume has increased noticeably. This is a positive sign but may be driven by temporary tax incentives.

Boulder Home Sales VolumeLast Twelve Months

10

210

410

610

810

1010

1210

2005 2006 2007 2008 2009 2010

Sales Volume Data: BARA© Silver Fern Homes

Boulder Home Sales VolumeLast Six Months

10

60

110

160

210

260

310

360

410

2005 2006 2007 2008 2009 2010

Sales Volume Data: BARA© Silver Fern Homes

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Days to Offer and Median Price

• The median number of days before a sold property received an accepted offer was 134. This is up significantly from last year and a continuing trend.

• The median sale price was $590,000, suggesting that even during these difficult market conditions, a diversity of properties are finding buyers.

Boulder Home SalesAverage Days to Offer (DTO)

20

40

60

80

100

120

140



Boulder Median Sale Price

$400,000

$450,000

$500,000

$550,000

$600,000

$650,000



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Appreciation: Boulder vs. Louisville

• This analysis was put together for a client studying historic appreciation for houses in Boulder and Louisville.

• The charts show 4 bedroom, 2 bath home sales from 1997 to 2010 (detached dwellings).

• A best fit line shows Boulder has nearly twice the slope of Louisville, but the goodness of fit (R2) is much better for Louisville.

• This suggests that Boulder has greater price diversity and may continue to appreciate at a faster rate than Louisville.

BOULDER4 Bedroom, 2 Bath Homes

y = 60.297x - 2E+06

R2 = 0.4156$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

10/28/1995 7/24/1998 4/19/2001 1/14/2004 10/10/2006 7/6/2009 4/1/2012

Boulder vs. Louisville4 Bedroom, 2 Bath Homes

y = 60.297x - 2E+06

R2 = 0.4156

y = 32.413x - 968507

R2 = 0.6953

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

$550,000

$600,000

10/28/1995 7/24/1998 4/19/2001 1/14/2004 10/10/2006 7/6/2009 4/1/2012

Boulder

Louisville

Linear (Boulder)

Linear (Louisville)

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Current Market Conditions

• Desirable, well priced, and professionally marketed properties are finding buyers and in some cases even generating multiple offers.

• At price points above $500,000, sellers are discounting from what was possible just a few years ago. Above $1MM, the market is having a 20%-40% off sale.

• For successful transactions, negotiated discounts (from last asking) are high, reflecting an expectation from buyers for price concessions.

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The Future

• All eyes are watching the economy and interest rates.

• The Federal Reserve has signaled an end to its MBS purchasing program and a coming near-term increase in the Fed Funds Rate. This suggests the economy is entering a period of sustained growth.

• The local Boulder economy is continuing to attract new employers, a positive sign for the long term (housing and employment are closely tied).

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How To Get A Great Deal

• Real estate transactions are one of life’s largest financial decisions. Shouldn’t you have an advisor?

• We believe agents should add value and earn their commission. The sooner we get started, the more value we can add.

• Trust the real estate experts from Silver Fern Homes to advise you on current market conditions, help you find the right home, and negotiate the best possible deal.

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Addendum: Recently Sold HousesSold

Pro

pert

y in

Bould

er

2/1/1

0-3

/15/10

Sin

gle

Fam

ily

Hom

es

(Deta

ched D

wellin

gs)

Addre

ssSubdiv

isio

nIn

dic

ate

dD

OM

Sold

Pri

ce($

000's

)Sold

D

ate

Bed

Bath

Gara

ge

$/T

.SQ

FT$/F

in. SQ

FT

1235

Ta

mar

ack

Ave

Moo

res

222

$293

2/16

/10

21

0$2

27$2

2731

25 Fo

lsom

St

Gre

en M

eado

ws

230

$300

2/24

/10

31

0$2

85$2

8510

43 Rav

enw

ood

Rd

Rid

glea

Hill

s25

9$3

072/

26/1

03

22

$131

$131

4435

M

oorh

ead

Ave

Will

iam

Mar

tin H

omes

tead

70$3

132/

18/1

03

22

$130

$260

740

S 42

nd S

tM

artin

Acr

es 3

49$3

402/

26/1

04

21

$154

$307

5646

Rim

Roc

k Ct

Gun

barr

el N

orth

200

$350

2/22

/10

33

2$1

42$2

2115

S 3

1 St

Hig

hlan

d Pa

rk39

$350

3/12

/10

31

1$3

65$3

6581

0 3

8th

StBas

elin

e 03

47$3

522/

26/1

03

10

$266

$266

980

S 46

th S

tM

ajes

tic H

eigh

ts51

$358

3/5/

103

10

$344

$344

30 S

32n

d St

Mar

tin A

cres

25$3

653/

12/1

03

11

$351

$351

2565

W

oods

tock

Pl

Tabl

e M

esa

459

$425

3/5/

103

11

$414

$414

1453

N

orth

St

Suns

et H

ill25

$429

2/26

/10

22

1$4

35$4

3548

74 H

opki

ns P

lN

orth

cree

k24

$434

3/1/

104

42

$185

$185

4635

Lu

dlow

St

Hy

Vie

w45

$435

2/10

/10

52

0$1

91$2

1216

45 -1

647

7th

StSm

iths

Wes

t Bou

lder

26$4

363/

5/10

22

2$3

49$3

4948

95 Ric

ara

Dr

Kee

way

din

260

$439

2/12

/10

53

2$1

86$1

9638

35 D

arle

y Ave

Mou

ntai

n Te

rrac

e24

6$4

483/

15/1

04

31

$196

$292

4735

M

oorh

ead

Ave

Will

iam

Mar

tin H

omes

tead

Acr

es82

1$4

532/

23/1

07

20

$201

$201

4503

M

ulbe

rry

Ct

Orc

hard

Cre

ek60

$459

3/10

/10

43

2$1

64$1

8023

05 Fo

rest

Ave

Gre

en M

eado

ws

136

$460

3/5/

103

22

$336

$336

2515

G

rape

Ave

Hig

h M

eado

ws

225

3$4

603/

15/1

03

21

$292

$292

1110

ED

INBO

RO

Dr

TABLE

MES

A 1

9$4

642/

26/1

04

21

$180

$184

2895

La

Gra

nge

Cir

Tabl

e M

esa

228

$475

3/1/

103

21

$330

$330

1007

Ced

ar A

veN

ewla

nds

179

$475

2/17

/10

32

2$2

03$2

1434

50 Fo

rdha

m C

tH

ighl

and

Park

423

3$4

752/

26/1

06

52

$99

$101

5543

St

onew

all P

lPo

nder

osa,

Mea

dow

Gle

n63

$480

3/11

/10

33

2$2

25$2

2544

70 G

rinn

ell A

veTa

ble

Mes

a 2

77$4

842/

25/1

04

31

$253

$253

2245

Pi

ne S

tBou

lder

O T

Eas

t W

est

Nor

th68

$485

2/26

/10

32

1$3

82$3

8261

Q

ualla

Ct

Paw

nee

Mea

dow

s64

$485

3/8/

103

32

$224

$224

129

Hur

on C

tG

reen

belt

Mea

dow

s79

$489

2/1/

104

42

$229

$234

640

Har

tfor

d D

rta

ble

mes

a34

$490

3/2/

104

21

$239

$242

2055

Fl

oral

Dr

Gre

en M

eado

ws

61$5

103/

15/1

03

21

$328

$328

4242

26

th S

tArb

or G

len

188

$513

2/8/

104

42

$192

$192

210

Moh

awk

Dr

Nav

ajo

Cou

rt -

Fra

sier

Mea

dow

s45

$525

2/19

/10

43

2$2

66$2

6641

10 S

Ham

pton

Cir

Four

Mile

Cre

ek1

$530

3/1/

103

32

$164

$249

1081

Li

ncol

n Pl

Uni

vers

ity P

lace

94$5

473/

4/10

42

0$2

15$3

0026

27 Pi

ne S

tPi

ne S

t16

7$5

493/

3/10

22

2$3

67$3

6718

71 Ya

rmou

th A

veN

oBo,

San

itas

Terr

ace

333

$555

1/26

/10

34

2$1

68$1

7115

15 11

St

Gra

ndvi

ew H

eigh

ts20

7$5

752/

10/1

06

31

$207

$207

3830

O

rion

Ct

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derlan

d H

ill84

$590

2/4/

104

22

$282

$282

315

For

est

Ave

New

land

s54

$608

2/26

/10

42

1$2

59$2

5923

20 H

illsd

ale

Way

Tabl

e M

esa

291

$609

2/12

/10

53

2$2

42$2

5443

82 App

le W

ayO

rang

e O

rcha

rd24

8$6

272/

26/1

03

32

$218

$266

3159

6t

h St

New

land

s61

$628

3/15

/10

32

0$4

00$4

0092

0 1

4th

StU

nive

rsity

Pla

ce43

$630

2/19

/10

63

1$2

52$2

5211

20 Cla

rem

ont

Dr

Tabl

e M

esa

314

$630

3/10

/10

43

1$2

54$2

5440

0 K

iow

a Pl

Fras

ier

Mea

dow

s19

7$6

452/

18/1

03

42

$226

$226

400

Kio

wa

PlFr

asie

r M

eado

ws

54$6

452/

28/1

03

42

$227

$227

1598

Cre

ss C

tW

arne

75$6

493/

5/10

33

2$2

11$2

6226

05 Reg

is D

rH

ighl

and

Park

141

$675

2/26

/10

54

2$2

55$2

5532

28 11

th S

tN

ewla

nds

45$6

952/

16/1

04

42

$238

$238

1085

M

iam

i Way

Tabl

e M

esa

116

2$7

293/

12/1

04

32

$245

$259

827

9th

St

Cha

utau

qua

Hei

ghts

213

$738

2/25

/10

54

4$2

53$2

6083

3 T

erra

ce C

ircl

e S.

D

akot

a Rid

ge V

illag

e Ph

114

2$7

392/

18/1

04

32

$177

$268

2030

10

th S

tPe

arl S

tree

t M

all D

istr

ict

60$7

552/

19/1

03

40

$269

$269

1290

N

orw

ood

Ave

Dee

r Rid

ge P

ark

92$7

702/

19/1

04

42

$296

$296

1445

H

awth

orn

Ave

Pars

ons

Park

37$7

752/

26/1

04

31

$272

$380

1840

Red

woo

d Ave

Moo

res

26$7

993/

12/1

04

42

$170

$229

1304

Ta

mar

ack

Ave

Moo

res

194

$830

2/12

/10

43

2$2

64$3

2525

93 Briar

woo

d D

rD

evils

Thu

mb

1st

190

$925

2/5/

104

22

$336

$341

550

Aur

ora

Ave

Spac

kman

s25

4$9

502/

16/1

03

22

$606

$606

2250

M

arip

osa

Ave

Oak

Par

k28

3$1

,130

2/25

/10

55

2$1

88$1

8887

5 D

ellw

ood

New

land

s28

3$1

,600

2/26

/10

45

2$3

27$3

2743

7 1

8th

StFl

oral

Par

k13

7$1

,653

2/1/

105

62

$311

$329

2500

M

eado

w A

veCar

olyn

Hei

ghts

282

$2,7

002/

3/10

65

3$4

21$4

65no

te:

high

light

ed p

rope

rty

is in

clud

ed in

not

able

sal

es.

Fo

r e

xpe

rt a

dvi

ce o

n t

he

Bo

uld

er

rea

l est

ate

ma

rke

t, c

all

us

at

30

3.7

46

.68

96

Note: may include older property not listed in the previous Silver fern Report

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Addendum: Recently Sold Attached Dwellings

Sold

Pro

pert

y in

Bould

er

2/1/1

0-3

/15/10

Att

ach

ed D

wellin

gs

(Condos

and T

ow

nhom

es)

Addre

ssSubdiv

isio

nIn

dic

ate

dD

OM

Sold

Pri

ce($

000's

)Sold

D

ate

Bed

Bath

Gara

ge

$/T

.SQ

FT$/F

in. SQ

FT

2800

KALM

IA A

veAsp

en G

rove

Con

do52

$125

2/25

/10

22

0$1

42$1

4232

50 O

'Nea

l Cir

Stra

tfor

d Pa

rk E

ast

44$1

313/

4/10

21

1$1

71$1

7133

00 Bridg

er T

rlRem

ingt

on P

ost

& C

ondo

118

$136

2/25

/10

22

1$1

41$1

4170

S B

ould

er C

irSe

ason

s Con

dos

39$1

442/

26/1

01

11

$226

$226

3535

28

St

Pend

leto

n Sq

uare

104

$153

2/19

/10

21

1$2

02$2

0219

34 18

th S

tCas

a El

dora

do C

ondo

s18

2$1

542/

11/1

01

11

$410

$410

3671

Pi

neda

le S

tN

orth

field

Com

mon

s16

5$1

543/

1/10

22

0$1

44$1

4423

01 Pe

arl S

tW

hitt

ier

Plac

e Ph

ase

111

0$1

562/

23/1

01

11

$302

$365

3671

Pi

neda

le S

tN

orth

field

Com

mon

s76

$160

3/1/

102

20

$149

$149

3671

Pi

neda

le S

tN

orth

field

Com

mon

s16

4$1

633/

1/10

22

0$1

42$1

4236

71 Pi

neda

le S

tN

orth

field

Com

mon

s21

3$1

633/

2/10

22

0$1

42$1

4236

71 Pi

neda

le S

tN

orth

field

Com

mon

s16

0$1

633/

1/10

22

0$1

43$1

4349

35 Tw

in L

akes

Rd

Twin

Lak

es30

$168

2/19

/10

22

1$1

75$1

7528

70 E

Col

lege

Ave

Land

mar

k Lo

fts

939

$185

2/26

/10

11

1$3

08$3

0818

95 Alp

ine

Alp

ine

Con

dos

185

$187

2/26

/10

21

1$2

02$2

0232

55 34

th S

tN

orth

gate

59$1

883/

14/1

02

11

$202

$202

1895

Alp

ine

Ave

Alp

ine

Con

dos

53$1

922/

5/10

21

1$2

11$2

1166

42 Kal

ua R

dSa

gecr

est

50$1

942/

26/1

03

21

$157

$157

2244

Sp

ruce

St

Whi

ttie

r Sq

uare

236

$212

3/2/

101

10

$286

$286

3349

H

ICKO

K P

lW

illow

Gre

en24

2$2

173/

11/1

03

20

$166

$166

4145

M

onro

e D

rpa

rk e

ast

squa

re11

7$2

182/

18/1

02

21

$206

$206

4310

M

onro

e D

rPa

rk E

ast

Squa

re82

$225

2/26

/10

22

1$2

13$2

1330

00 Col

orad

o Ave

Wim

bled

on4

$229

3/15

/10

32

1$1

94$1

9412

01 Bal

sam

Ave

The

Flat

s At

1201

Bal

sam

204

$231

2/26

/10

11

1$4

53$4

5347

91 Ta

ntra

Dr

Sout

h Cre

ek47

$233

3/15

/10

21

1$2

85$2

8529

38 Kal

mia

Ave

Kal

mia

Cou

rt C

ondo

s98

$240

3/1/

102

22

$190

$190

3725

Birch

woo

d D

rBirch

woo

d D

rive

Con

dos

99$2

422/

26/1

02

21

$217

$217

2964

G

lenw

ood

Dr

Gle

nwoo

d G

arde

ns42

$243

2/16

/10

23

1$1

59$1

5948

45 W

Moo

rhea

d Cir

Sout

h Cre

ek 0

811

6$2

442/

26/1

02

11

$244

$244

2875

Sh

adow

Cre

ek D

rG

old

Run

107

$245

3/3/

102

21

$292

$292

2951

Ea

gle

Way

G

lenw

ood

Gar

dens

187

$262

1/28

/10

22

1$1

87$1

8731

10 BEL

L D

rCATT

AIL

CO

VE

88$2

663/

11/1

03

31

$199

$199

3830

N B

road

way

(off

St)

StApp

leridg

e14

9$2

742/

3/10

33

2$1

84$1

8445

00 Bas

elin

e Rd

Vis

toso

Con

do91

$287

3/2/

102

21

$262

$262

1065

U

nive

rsity

Ave

Uni

vers

ity T

ownh

ouse

Con

dos

5$2

903/

1/10

22

1$2

92$2

9235

27 Sp

ring

Cre

ek P

lSp

ring

Cre

ek17

0$2

922/

26/1

04

41

$160

$160

1542

Cha

mbe

rs D

rM

ount

ain

Shad

ows

141

$293

3/1/

103

31

$148

$154

2850

E A

uror

a Ave

Mon

tcla

ir C

ourt

Con

do1

$294

2/22

/10

32

0$2

34$2

3448

34 M

acin

tosh

Pl

Nob

le P

ark

186

$295

3/12

/10

32

2$2

57$2

5712

45 N

orw

ood

Ave

App

leridg

e Pa

rk C

ondo

s1

$315

2/5/

103

20

$148

$163

37 Ben

thav

en P

lD

evil'

s Th

umb

155

$317

3/11

/10

22

2$2

32$2

3215

25 Bra

dley

Dr

Mou

ntai

n Sh

adow

s52

$318

3/8/

104

41

$125

$125

1486

G

REE

NBRIA

R B

lvd

MO

UN

TAIN

SH

AD

OW

S65

$320

2/19

/10

33

1$1

26$1

4114

15 Bra

dley

Dr

Mou

ntai

n Sh

adow

s To

wnd

omin

ium

s62

$328

3/12

/10

34

1$1

41$1

3837

10 Sm

uggl

er P

lSh

anah

an R

idge

137

$345

2/26

/10

32

1$2

61$2

6112

01 Bal

sam

Ave

The

Flat

s at

120

1 Bal

sam

471

$350

3/15

/10

11

0$4

67$4

6738

15 Pa

seo

del P

rado

Pa

lo P

ark

37$3

523/

10/1

04

42

$157

$166

3554

Sm

uggl

er W

aySh

anah

an R

idge

189

$354

3/3/

103

21

$268

$268

1201

Bal

sam

Ave

The

Flat

s at

120

1 Bal

sam

384

$413

3/15

/10

21

1$4

71$4

7136

72 Pi

neda

le S

tN

orth

field

Com

mon

s25

7$4

483/

2/10

34

2$1

80$1

9838

80 Col

orad

o Ave

Wel

lman

Cre

ek14

4$4

602/

19/1

03

32

$297

$297

3676

Pi

neda

le S

tN

orth

field

Com

mon

s16

8$4

701/

21/1

03

42

$189

$208

315

Ara

paho

e Ave

Shad

ow C

reek

Con

dos

219

$485

2/2/

102

21

$364

$364

2336

Sp

ruce

St

Iron

Fla

ts12

2$4

852/

12/1

02

21

$363

$363

3678

Pi

neda

le S

tN

orth

field

Com

mon

s2

$510

1/29

/10

34

2$2

08$2

0820

30 20

th S

tPe

arl S

t. L

ofts

2$5

452/

4/10

22

1$4

60$4

6062

0 P

opla

r Ave

Won

derlan

d H

ill 0

333

0$5

652/

12/1

03

32

$287

$287

3287

O

uray

St

Nor

thfie

ld C

omm

ons

721

$600

3/3/

103

32

$167

$262

3732

St

ar L

nN

orth

field

Com

mon

s37

2$6

202/

12/1

03

32

$156

$237

2850

E C

olle

ge A

veLa

ndm

ark

Loft

s91

$630

3/1/

102

32

$319

$319

1301

Can

yon

Blv

dCan

yon

Prop

erty

36$6

552/

16/1

02

22

$405

$405

3206

O

uray

St

Nor

thfie

ld C

omm

ons

5$6

963/

10/1

03

32

$181

$250

2801

Pe

nnsy

lvan

ia A

veO

ne P

enn

Plac

e27

5$7

003/

10/1

02

32

$385

$385

note

: hi

ghlig

hted

pro

pert

y is

incl

uded

in n

otab

le s

ales

(se

e at

tach

ed)

Fo

r e

xpe

rt a

dvi

ce o

n t

he

Bo

uld

er

rea

l est

ate

ma

rke

t, c

all

us

at

30

3.7

46

.68

96

Note: may include older property not listed in the previous Silver fern Report