Colorado Residential Luxury Report - Quarter 1, 2015

LIV

RESIDENTIAL LUXURY REPORT Quarter 1 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.

54%

HAVE PURCHASED A PROPERTY WITHIN THE PAST 3 YEARS.

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.”

50%

16%

13%

8%

INVESTOR

INNOVATOR

TRENDSETTER

PHILANTHROPIST

ULTRA HIGH NET WORTH WORTH DEMAND DEMAND FOR FOR RESIDENTIAL RESIDENTIAL PROPERTY: ULTRA HIGH NET PROPERTY:GROWING GROWINGFAST FAST

6.0% 8.9%

US$10,265

US$8,355

billion

6.2%

billion

6.5%

609

74,865

The world’s The world’sUHNW UHNW Sotheby’s International Realty® population by6% 6% populationgrew grew by between 2013 and 2014. between 2013 and 2014.

North America North America and and Europe remain the two Europe remain the two most regions, mostsignificant significant regions, accounting for 35% and accounting for 35% and 29% of the global UNHW 29% of the global UHNW population, respectively. population, respectively.

5.8%

61,820 NORTH AMERICA

EUROPE

4.8% 13.1%

12.7%

US$995

US$6,975 billion

The United States

billion

46,635

5,975

ASIA

MIDDLE EAST

4.6%

5.5% 8.3%

US$2,225

12.9%

US$395

billion

billion

14,805

3,005

5.4%

6.2%

US$515

AFRICA

LATIN AMERICA & THE CARIBBEAN

billion

4,170 PACIFIC

2014 UHNW POPULATION

2014 TOTAL WEALTH US$ BILLION

2013 UHNW POPULATION

2013 TOTAL WEALTH US$ BILLION

POPULATION CHANGE %

TOTAL WEALTH CHANGE %

211,275

29,725

199,235

27,770

6.0%

7.0%

|

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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 in 2015.

Demonstrating the trend of upward growth, Q1 property sales within metro Denver, Eagle, and Summit counties rose 24% over Q1 2014; average price per square foot jumped 8.8% and recent numbers indicate that days on the market have dropped nearly 14%.

For the most part, Q1 2015 luxury home prices have remained comparable to Q1 2014, while total dollar volume has jumped nearly a quarter. 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.

In the resort mountain areas of Eagle and Summit county, the luxury market remains vibrant and healthy, quite possibly a direct result of the power that the Denver area has on luxury buyers, as more and more people are interested in coming to the region.

LUXURY METRICS January through March

2009

2010

2011

2012

2013

184

265

278

326

355

$332

$393

$304

$335

$370

207

298

240

323

211

$9,150,000

$10,000,000

$10,500,000

$14,100,000

$13,550,000

$206,179,938

$393,963,226

$369,958,547

$455,358,943

$432,013,497

January through March

2014

2015

% Change

Number of Properties Sold

382

474

24.08%

$398

$433

8.79%

197

170

-13.71%

$11,200,000

$10,250,000

-8.48%

$504,846,635

$627,270,230

24.25%

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

Average Price per Square Foot Average Days on Market Highest Price Total Dollar Volume

INCLUDED COUNTIES: ADAMS ARAPAHOE BOULDER BROOMFIELD DENVER DOUGLAS JEFFERSON * EAGLE * SUMMIT * Resort Market

RESIDENTIAL LUXURY REPORT QUARTER 1 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 March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

25

24

31

33

44

51

68

33.33%

Average Price per Sq. Ft.

$362

$382

$366

$345

$400

$420

$433

3.10%

Average Days on Market

274

261

238

215

122

100

118

18.00%

Highest Price

$2,100,000

$3,500,000

$2,150,000

$3,100,000

$4,100,000

$4,925,000

$3,522,019

-28.49%

Total Dollar Volume

$31,528,211

$36,817,323

$43,547,000

$45,126,908

$64,740,735

$78,332,715

$98,562,988

25.83%

ARAPAHOE COUNTY January through March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

15

24

24

29

36

27

43

59.26%

Average Price per Sq. Ft.

$373

$349

$311

$341

$348

$372

$377

1.34%

Average Days on Market

286

362

158

182

177

98

125

27.55%

$3,900,000

$4,950,000

$4,800,000

$4,500,000

$7,000,000

$5,850,000

$4,115,000

-29.66%

$28,907,500

$43,075,977

$36,614,686

$55,203,449

$60,390,657

$47,514,476

$68,006,970

43.13%

Highest Price Total Dollar Volume

DOUGLAS COUNTY January through March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

16

10

10

18

29

25

26

4.00%

Average Price per Sq. Ft.

$370

$399

$284

$277

$326

$349

$378

8.31%

Average Days on Market

480

397

481

180

321

161

219

36.02%

$3,450,000

$2,825,000

$2,300,000

$2,150,000

$1,776,186

$3,525,000

$2,650,000

-24.82%

$25,570,500

$16,045,000

$14,958,000

$23,812,514

$37,325,522

$34,257,272

$38,881,017

13.50%

Highest Price Total Dollar Volume

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 QUARTER 1 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

JEFFERSON COUNTY January through March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

7

8

9

6

6

12

18

50.00%

Average Price per Sq. Ft.

$306

$396

$257

$228

$349

$340

$321

-5.59%

Average Days on Market

192

181

312

287

324

162

166

2.47%

Highest Price

$1,535,000

$2,200,000

$1,546,200

$1,455,500

$2,500,000

$2,755,000

$1,425,000

-48.28%

Total Dollar Volume

$8,341,532

$12,425,000

$11,235,003

$7,692,500

$9,095,122

$16,382,000

$21,838,400

33.31%

BROOMFIELD COUNTY January through March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

0

1

0

1

2

2

1

-50.00%

Average Price per Sq. Ft.

$0

$301

$0

$276

$261

$318

$477

50.00%

Average Days on Market

0

1

0

1084

6

113

6

-94.69%

Highest Price

$0

$1,624,320

$0

$1,200,000

$1,610,200

$1,170,960

$2,900,000

147.66%

Total Dollar Volume

$0

$1,624,320

$0

$1,200,000

$2,635,200

$2,220,960

$2,900,000

30.57%

ADAMS COUNTY January through March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

0

2

0

0

1

2

3

50.00%

Average Price per Sq. Ft.

$0

$226

$0

$0

$237

$282

$293

3.90%

Average Days on Market

0

588

0

0

155

253

151

-40.32%

Highest Price

$0

$1,064,255

$0

$0

$1,020,000

$1,750,000

$1,385,000

-20.86%

Total Dollar Volume

$0

$2,064,255

$0

$0

$1,020,000

$3,499,000

$3,650,000

4.32%

PURCHASING MOTIVATIONS AT A GLANCE

RESIDENTIAL LUXURY REPORT QUARTER 1 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 March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

22

19

26

39

37

44

59

34.09%

Average Days on Market

$1,509,099

$1,631,442

$1,678,599

$1,458,997

$1,379,832

$1,584,167

$1,563,110

-1.33%

Highest Price

$2,625,000

$4,200,000

$4,150,000

$3,100,000

$2,300,000

$4,000,000

$4,900,000

22.50%

$33,200,180

$30,997,412

$43,643,583

$56,900,900

$51,053,782

$69,703,363

$92,223,500

32.31%

Total Dollar Volume

EAGLE COUNTY January through March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

31

76

56

61

54

73

86

17.81%

Average Price per Sq. Ft.

$896

$768

$899

$921

$723

$784

$842

7.40%

Average Days on Market

131

275

381

332

279

359

302

-15.88%

$9,150,000

$10,000,000

$10,500,000

$14,100,000

$13,550,000

$11,200,000

$10,250,000

-8.48%

$90,115,230

$198,047,230

$160,659,775

$189,397,500

$125,882,850

$177,572,249

$207,338,606

16.76%

Highest Price Total Dollar Volume

SUMMIT COUNTY January through March

2009

2010

2011

2012

2013

2014

2015

% Change

Number of Properties Sold

68

101

122

139

146

146

171

17.12%

Average Price per Sq. Ft.

$352

$325

$312

$290

$319

$322

$358

11.18%

Average Days on Market

253

367

340

442

363

346

366

5.78%

$3,108,000

$1,545,000

$2,685,000

$3,421,123

$2,700,000

$3,500,000

$2,799,000

-20.03%

$42,516,785

$52,866,709

$59,300,500

$76,025,172

$79,869,629

$75,364,600

$96,042,932

27.44%

Highest Price Total Dollar Volume

LOCATION IS KING

RESIDENTIAL LUXURY REPORT QUARTER 1 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

CHERRY CREEK

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

DENVER TECH CENTER

DOWNTOWN DENVER

BEAVER CREEK VILLAGE

VAIL VALLEY

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

255 Clayton Street, Unit 100 North Denver, CO 80206 303.893.3200

EVERGREEN

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

26 Avondale Lane, #119 Beaver Creek, CO 81620 970.845.0400

CHERRY CREEK-CLAYTON

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

BRECKENRIDGE

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 Evergreen

Edwards

Greenwood Village

70

Beaver Creek 24

85

Breckenridge

285

25

Castle Pines Village

RESIDENTIAL LUXURY REPORT QUARTER 1 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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