Colorado Residential Luxury Report - Mid-Year, 2015

LIV

RESIDENTIAL LUXURY REPORT Mid-Year 2015

PORTRAIT OF AN AFFLUENT AMERICAN CONSUMER Many affluent American consumers, defined as those with $2 million or more in investable assets, own MULTIPLE PROPERTIES. On average, affluent consumers in the U.S. currently own 3 homes.

Affluent American consumers are not only investing in property– they consider themselves part of the investor class. When asked what best described them, a majority said “AN INVESTOR.”

INVESTOR

INNOVATOR

TRENDSETTER

PHILANTHROPIST

PURCHASING MOTIVATIONS AT A GLANCE A survey of Sotheby’s International Realty network members revealed the following factors influenced a real estate purchase:

FAMILY NEEDS

LOCATION

RETURN ON INVESTMENT

LIFESTYLE

LUXURY MARKET AT A GLANCE The luxury home market is on the rise in Colorado. As one of the fastest growing states, Colorado’s growing popularity, combined with the surging United States economy, is cause for an increasing luxury sector at the mid-year point of 2015.

Demonstrating the trend of upward growth, mid-year property sales, within the seven counties of Denver metro (including Boulder) represented in this report, rose 28.69% over mid-year 2014 statistics; average price per square foot jumped 6.71% and recent numbers indicate that days on the market have dropped 5.13%. Total dollar volume sold increased by 23.29%.

LUXURY METRICS January through June Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Total Dollar Volume

January through June Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Total Dollar Volume

2009

2010

2011

2012

2013

217

261

277

350

467

$342

$359

$262

$266

$317

265

218

215

316

167

$6,300,000

$4,950,000

$6,180,000

$5,250,000

$8,691,000

$336,328,143

$410,857,617

$420,043,872

$520,806,242

$703,219,812

2014

2015

% Change

502

646

28.69%

INCLUDED COUNTIES: ADAMS

$343

$366

6.71%

ARAPAHOE

117

111

-5.13%

BROOMFIELD

$5,950,000

$4,650,000

-21.85%

$785,025,622

$967,880,809

23.29%

BOULDER DENVER DOUGLAS JEFFERSON

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS may not reflect all real estate activity in the market.

LUXURY MARKET | MARKETS BY COUNTY

DENVER COUNTY January through June

2009

2010

2011

2012

2013

2014

2015

% Change

62

63

76

102

144

142

201

41.55%

Average Price per Sq. Ft.

$379

$389

$344

$367

$403

$432

$444

2.78%

Average Days on Market

297

207

201

182

122

70

85

21.43%

$4,100,000

$4,500,000

$2,500,000

$5,250,000

$4,100,000

$4,925,000

$4,550,000

-7.61%

$88,483,475

$99,153,816

$103,537,099

$150,638,022

$211,095,072

$214,887,454

$295,360,948

37.45%

Number of Properties Sold

Highest Price Total Dollar Volume

ARAPAHOE COUNTY January through June

2009

2010

2011

2012

2013

2014

2015

% Change

38

62

62

76

98

109

114

4.59%

Average Price per Sq. Ft.

$339

$334

$327

$339

$341

$385

$381

-1.04%

Average Days on Market

$314

$232

187

188

244

125

125

0.00%

$6,300,000

$4,950,000

$6,180,000

$4,500,000

$7,000,000

$5,950,000

$4,650,000

-21.85%

$68,819,500

$99,288,802

$101,832,498

$126,167,747

$161,378,148

$209,477,016

$191,195,514

-8.73%

Number of Properties Sold

Highest Price Total Dollar Volume

DOUGLAS COUNTY January through June

2009

2010

2011

2012

2013

2014

2015

% Change

32

37

42

50

72

78

89

14.10%

Average Price per Sq. Ft.

$361

$355

$309

$298

$324

$336

$341

1.49%

Average Days on Market

364

319

348

325

225

147

167

13.61%

$3,450,000

$3,630,000

$3,050,000

$3,000,000

$2,550,000

$4,000,000

$2,750,000

-31.25%

$49,037,221

$56,429,162

$61,191,450

$69,326,568

$95,258,704

$110,900,422

$124,816,315

12.55%

Number of Properties Sold

Highest Price Total Dollar Volume

JEFFERSON COUNTY January through June

2009

2010

2011

2012

2013

2014

2015

% Change

19

22

26

21

30

41

55

34.15%

Average Price per Sq. Ft.

$306

$339

$312

$315

$333

$323

$354

9.60%

Average Days on Market

379

225

353

280

283

187

141

-24.60%

$2,100,000

$2,200,000

$2,575,000

$2,600,000

$8,691,000

$2,755,000

$3,350,000

21.60%

$25,119,500

$30,839,250

$35,595,903

$30,043,105

$51,320,622

$56,291,250

$74,952,720

33.15%

Number of Properties Sold

Highest Price Total Dollar Volume

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS may not reflect all real estate activity in the market.

LUXURY MARKET | MARKETS BY COUNTY

BOULDER COUNTY January through June Number of Properties Sold Average Days on Market Highest Price Total Dollar Volume

2009

2010

2011

2012

2013

2014

2015

% Change

59

69

69

100

118

122

178

45.90%

214

194

216

156

135

128

78

-39.06%

$2,900,000

$4,450,000

$4,150,000

$3,100,000

$4,400,000

$4,000,000

$4,495,000

12.38%

$94,654,847

$111,898,012

$114,861,922

$143,430,800

$177,697,066

$180,830,421

$268,651,312

48.57%

BROOMFIELD COUNTY January through June

2009

2010

2011

2012

2013

2014

2015

% Change

4

3

0

1

4

5

2

-60.00%

Average Price per Sq. Ft.

$369

$460

-

$276

$262

$309

$391

26.54%

Average Days on Market

3

12

-

1,084

5

60

75

25.00%

$2,264,303

$3,480,000

-

$1,200,000

$1,610,000

$1,310,099

$2,900,000

121.36%

$6,587,919

$6,334,320

-

$1,200,000

$5,450,200

$5,721,059

$4,050,000

-29.21%

2009

2010

2011

2012

2013

2014

2015

% Change

3

5

2

0

1

5

7

40.00%

Average Price per Sq. Ft.

$296

$274

$279

-

$237

$274

$287

4.74%

Average Days on Market

283

340

198

-

155

105

107

1.90%

Highest Price

$1,555,000

$2,400,000

$1,675,000

-

$1,020,000

$1,750,000

$1,429,000

-18.34%

Total Dollar Volume

$3,625,681

$6,914,255

$3,025,000

-

$1,020,000

$6,918,000

$8,854,000

27.98%

Number of Properties Sold

Highest Price Total Dollar Volume

ADAMS COUNTY January through June Number of Properties Sold

GROWING WEALTH Yielding a RETURN ON INVESTMENT is a key driver in the purchase of a property for affluent consumers.

Compared to 5 years ago, a majority are more confident in the strength of the housing market in their country of primary residence.

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS may not reflect all real estate activity in the market.

RESORT LUXURY MARKET In the resort mountain area of Eagle County, the luxury market remains vibrant and healthy. The price increase indicates that as the economy gets stronger people are more willing to spend extra dollars to purchase the homes they really desire. At the mid-year point of 2015, Eagle County saw an especially high volume of activity, due to an increased number of visitors and second home owners in town during summer months, which tend to be a popular time for home buying in the luxury sector.

In the resort mountain area of Summit County, increased homeowner equity and property values demonstrate a continued strong residential luxury market at the mid-year point of 2015. The proximity to both the urban offerings of Denver metro, and the famous Colorado Rocky Mountains, position Summit County as one of the most sought after resort destinations worldwide. With the increasing desire for lifestyle-inspired home purchases, the resort market in Summit County will continue to rise.

EAGLE COUNTY January through June

2009

2010

2011

2012

2013

2014

2015

% Change

67

159

108

124

119

161

163

1.24%

Average Price per Sq. Ft.

$827

$872

$901

$872

$703

$833

$856

2.76%

Average Days on Market

170

292

380

351

293

238

311

30.67%

Highest Price

$15,950,000

$14,817,600

$12,500,000

$14,100,000

$13,550,000

$19,000,000

$15,750,000

-17.11%

Total Dollar Volume

$200,537,019

$441,348,766

$325,725,275

$382,528,751

$268,389,100

$459,530,231

$454,338,449

-1.13%

2009

2010

2011

2012

2013

2014

2015

% Change

43

60

46

40

52

58

72

24.14%

Average Price per Sq. Ft.

$419

$689

$404

$342

$452

$440

$520

18.18%

Average Days on Market

221

526

340

269

280

244

273

11.89%

$3,300,000

$2,700,000

$2,685,000

$3,742,500

$3,400,000

$3,640,593

$3,700,000

1.63%

$71,223,250

$91,959,750

$71,882,294

$61,654,928

$79,314,236

$89,713,292

$122,026,012

36.02%

Number of Properties Sold

SUMMIT COUNTY January through June Number of Properties Sold

Highest Price Total Dollar Volume

LOCATION IS KING

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS may not reflect all real estate activity in the market.

COLORADO LUXURY REAL ESTATE EXPERTS BOULDER

CASTLE PINES

1050 Walnut Street Boulder, CO 80302 303.443.6161

858 W. Happy Canyon Road, Suite 100 Castle Rock, CO 80108 303.660.8800

DENVER TECH CENTER

8000 E. Belleview Avenue, Suite 200 Greenwood Village, CO 80111 303.893.3200

CHERRY CREEK

400 S. Colorado Blvd., Suite 400 Denver, CO 80246 303.893.3200

CHERRY CREEK-CLAYTON 255 Clayton Street, Unit 100 North Denver, CO 80206 303.893.3200

DOWNTOWN DENVER

EVERGREEN

VAIL VALLEY

BRECKENRIDGE

1512 Larimer Street, #46R Denver, CO 80202 303.893.3200

BEAVER CREEK VILLAGE 26 Avondale Lane, #119 Beaver Creek, CO 81620 970.845.0400

31955 Castle Court, #1 South Evergreen, CO 80439 303.674.3200

34253 Highway 6, #2A Edwards, CO 81632 970.748.5150

101 South Main Street Breckenridge, CO 80424 970.453.0550 34

LIV Sotheby’s International Realty Locations 36

BOULDER

|

CASTLE PINES VILLAGE

DOWNTOWN DENVER

|

EVERGREEN

BRECKENRIDGE

|

|

|

CHERRY CREEK

GREENWOOD VILLAGE

Boulder

25

VAIL VALLEY

DENVER Downtown Denver

70

Cherry Creek

VAIL VALLEY

Denver Tech Center

Evergreen

Edwards

70

Beaver Creek 24

85

Breckenridge

285

25

Castle Pines

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS may not reflect all real estate activity in the market.

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