Erie is a 25,000-person suburban city north of downtown Denver, east of Boulder, and adjacent to Broomfield; these three represent 165,000 high-paying jobs and are within a 30-minute commute of Erie. With the cost of housing becoming prohibitive in Denver, Boulder and Broomfield, home buyers are retreating to Erie; many of the national and regional home builders have homebuilding operations nearby, thus many new homes are being built in Erie. The town hall estimates the population to grow to 35,000 people by 2025.
The town of Erie is split almost evenly between Boulder County on the west side and Weld County on the east side. Many people have historically preferred the Boulder County side of Erie, as it has slightly higher rated schools and lies closer to the mountains. Accordingly, housing typically costs 15%-20% more on the west side of town, as land costs and building fees are higher in Boulder County. As such, new neighborhoods have sprouted up on the east side of town, particularly Erie Highlands and Collier’s Hill, offering lower-cost housing than found on the west side of Erie.
Some notable neighborhoods in Erie include Vista Ridge, Vista Pointe, Erie Highlands, Collier’s Hill and Flatirons Meadows.
In the past year, there have been 520 single family homes sold in Erie, for an average cost of $549,796, ranging from a high of $1,794,000 to a low of $120,000. These homes were available for 27 days and had a sales price to list price ratio of 99% – meaning that buyers had to pay 99% of the asking price, on average.
75 condos and townhomes sold at an average price of $335,497, ranging from a high of $573,500 to a low of $244,000. These units were available for an average of 21 days and had a sale price to list price ratio of 100%.
Real estate in Erie has seen an average growth of 9.4% over the past 5 years.
Erie offers some fun event throughout the year, including the Erie Town Fair & Balloon Festival, which takes place May 20. Thousands of people join to enjoy local food and drink vendors and listen to live music. And you can’t miss the hot air balloon launch they do at 6:00 am on May 20th, hundreds of hot air balloons take off at the same time, it’s well worth the early morning.
As you can see, Erie is a hot market with strong demand. Feel free to reach out if you have any questions or would like to look for a home. Click the link below to search for homes in Erie. Thanks for reading.