Q1 2021
Luxury Report
1990 Fox Mountain Point
135 Polecat Lane
1
RESIDENTIAL LUXURY REPORT INTRODUCTION
Over the course of the last year, Colorado’s real estate market has seen a tremendous boost in real estate activity across the Front Range and resort regions. Much of this increase in homebuying and selling is a result of shifting consumer preferences, which were sparked by the global pandemic. Consumers’ need for homes that offer them not only comfort and safety, but an elevated lifestyle, drew them to Colorado, which offers the ideal combination of luxury real estate, unbeatable experiences, and easy access to the great outdoors. Many luxury home markets throughout the state continue to enjoy the momentum from 2020’s tidal wave of demand through the first quarter of 2021. LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a quarterly Residential Luxury Report. In this report, we compare January through March of this year to the previous year, measuring the performance of luxury real estate markets in some of Colorado’s most popular communities. Analyzing the luxury market for Colorado’s diverse neighborhoods, the statistics in this report show performance for single family homes and condos for Denver Metro ($1 million+), South Metro ($1 million+), Foothills ($1 million+), Boulder Valley ($1 million+), Colorado Springs ($1 million+), Grand County ($1 million+), Summit County ($2 million+), Crested Butte ($2 million+), the Vail Valley ($3 million+), and Telluride ($3 million+).
03
11
15
18
21
24
27
29
31
35
P. DENVER METRO $1 Million +
P. COLORADO SPRINGS $1 Million +
P. SOUTH METRO $1 Million +
P. GRAND COUNTY $1 Million +
P. VAIL VALLEY $3 Million +
2
P. FOOTHILLS $1 Million +
P. SUMMIT COUNTY $2 Million +
P. TELLURIDE $3 Million +
P. BOULDER VALLEY $1 Million +
P. CRESTED BUTTE $2 Million +
DENVER METRO LUXURY MARKET Denver Metro’s luxury real estate market is showing strength through the first three months of the year, with luxury listings sold across all counties (Adams, Arapahoe, Broomfield, Denver, Douglas, and Jefferson) rising by 91.8% compared to the same time period of 2020. During January through March of this year, there were 800 luxury home sales. The average sale price of those homes was $1,589,364, which is 4.1% higher than year-ago prices. Luxury homes in this community also sold more quickly than last year, with the average number of days on market decreasing by 20.6%, from 68 days on market through March of 2020 to 54 days on DENVER METRO market through March of this year. Thanks to the rise in homebuying and appreciation of prices, January through March 2020 2021 % Change the overall sales volume in Denver Metro grew by # of Properties Sold 417 800 91.8% 99.4%, totaling $1,269,901,669. Average Price per Square Foot
$472
$489
3.4%
Several neighborhoods within Denver Metro Average Days on Market 68 54 -20.6% experienced increases in the number of luxury Highest Price $6,620,000 $7,850,000 18.6% properties sold. The City of Denver saw a Average List Price $1,584,485 $1,605,209 1.3% significant rise in the number of sold properties Average Sale Price $1,527,023 $1,589,364 4.1% in Q1 of this year compared to Q1 of last year, % Sold Price to List Price 97.3% 98.0% 0.8% increasing by an impressive 95.3%. During Total Dollar Volume $636,768,493 $1,269,901,669 99.4% January through March of 2021, 371 luxury Counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson homes sold compared to the same time frame of last year when 190 luxury homes sold. Other neighborhoods saw luxury listing prices appreciate due to the intense demand for listings in the area. For example, houses in the highly sought-after neighborhood of Cherry Creek North rose by 28.1% in a year-to-date comparison, reaching $1,796,000. The boom in buying and selling activity was most evident in the beloved Bonnie Brae/Belcaro neighborhood, where increases in the number of properties sold and average sale prices led to a 284.1% boost in sales volume, bringing the total to $30,537,050. Based on $1,000,000+ sales in Adams, Arapahoe, Broomfield, Denver, Douglas, and Jefferson Counties. This representation is based in whole or in part on data supplied from REColorado on March 8, 2021. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $1,000,000 Sales
3
DENVER (CITY)
January through March
2020
2021
% Change
190
371
95.3%
$536
$566
5.6%
57
51
-10.5%
Highest Price
$4,625,000
$6,075,000
31.4%
Average List Price
$1,538,846
$1,614,048
4.9%
Average Sale Price
$1,493,116
$1,612,279
8.0%
96.1%
98.7%
2.7%
$284,311,467
$598,155,519
110.4%
# of Properties Sold Average Price per Square Foot
LIV SIR represented the buyer for the highest priced sale in the City of Denver for Q1 of 2021.
Average Days on Market
% Sold Price to List Price Total Dollar Volume
BOW MAR/BOW MAR SOUTH
BONNIE BRAE/BELCARO
Boundaries: City of Denver
4
January through March
2020
2021
% Change
6
13
116.7%
$498
$649
30.3%
63
50
-20.6%
Highest Price
$1,775,000
$4,895,000
175.8%
Average List Price
$1,349,000
$2,336,538
73.2%
Average Sale Price
$1,325,000
$2,349,004
77.3%
93.4%
99.3%
6.2%
$7,950,000
$30,537,050
284.1%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Mississippi to Cherry Creek Drive South; University to Colorado
189.7% The average sale price in Bow Mar/Bow Mar South increased by 189.7% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
4
1
-75.0%
$359
$679
89.1%
44
0
-100.0%
Highest Price
$2,285,000
$5,400,000
136.3%
Average List Price
$1,922,500
$5,400,000
180.9%
Average Sale Price
$1,863,750
$5,400,000
189.7%
96.2%
100.0%
4.0%
$7,455,000
$5,400,000
-27.6%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: West Quincy Avenue to West Bowles Avenue
2020
2021
% Change
17
28
64.7%
$627
$709
13.1%
91
63
-30.8%
Highest Price
$1,800,000
$3,360,000
86.7%
Average List Price
$1,438,869
$1,814,071
26.1%
Average Sale Price
$1,402,214
$1,796,000
28.1%
95.3%
95.8%
0.5%
$23,837,630
$50,288,000
111.0%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
LIV SIR represented the buyer and the seller for the highest priced sale in Cherry Creek North for Q1 of 2021.
Boundaries: York to Colorado; 1st Avenue to 6th Avenue
2020
2021
% Change
12
9
-25.0%
$533
$679
27.4%
52
81
55.8%
Highest Price
$6,620,000
$7,850,000
18.6%
Average List Price
$3,405,750
$5,147,222
51.1%
Average Sale Price
$3,198,917
$4,803,333
50.2%
95.8%
93.3%
-2.6%
$38,387,000
$43,230,000
12.6%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
CHERRY HILLS VILLAGE
January through March
(Over 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou
2020
2021
% Change
7
4
-42.9%
$517
$565
9.2%
31
73
135.5%
$2,650,000
$3,210,000
21.1%
Average List Price
$1,891,857
$2,195,000
16.0%
Average Sale Price
$1,852,714
$2,138,125
15.4%
94.9%
92.2%
-2.9%
$12,969,000
$8,552,500
-34.1%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
(Under 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou
21.1%
The highest price in Cherry Hills Village increased by 21.1% January through March 2021 compared to that of 2020.
CHERRY HILLS VILLAGE
January through March
CHERRY CREEK NORTH
January through March
5
COLUMBINE VALLEY
54.5% The highest price in Columbine Valley increased by 54.4% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
5
3
-40.0%
$474
$486
2.6%
110
85
-22.7%
$2,265,000
$3,500,000
54.5%
Average List Price
$1,518,400
$2,258,333
48.7%
Average Sale Price
$1,509,580
$2,221,667
47.2%
98.3%
95.6%
-2.8%
$7,547,902
$6,665,000
-11.7%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: South Polo Ridge Drive to West Bowles; Platte Canyon Road to South Platte River
COUNTRY CLUB
January through March
2020
2021
% Change
4
8
100.0%
$712
$789
10.8%
37
73
97.3%
Highest Price
$4,625,000
$6,075,000
31.4%
Average List Price
$3,531,250
$3,576,250
1.3%
Average Sale Price
$3,095,000
$3,601,017
16.3%
87.9%
100.1%
13.9%
$12,380,000
$28,808,133
132.7%
# of Properties Sold Average Price per Square Foot Average Days on Market
LIV SIR represented the buyer for the highest priced sale in Country Club for Q1 of 2021.
% Sold Price to List Price Total Dollar Volume
Boundaries: University to Downing 1 - 4 ; Race to University 4th - 6th
CRESTMOOR
st
8.7%
The average price per square foot in Crestmoor increased by 8.7% January through March 2021 compared to that of 2020.
January through March
th
2020
2021
% Change
5
3
-40.0%
$519
$564
8.7%
9
15
66.7%
Highest Price
$2,400,000
$1,450,000
-39.6%
Average List Price
$1,832,400
$1,276,333
-30.3%
Average Sale Price
$1,771,400
$1,299,667
-26.6%
97.3%
98.9%
1.7%
$8,857,000
$3,899,000
-56.0%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Holly to Monaco; Bayaud to 6th Avenue
6
2020
2021
% Change
7
8
14.3%
$353
$455
28.7%
75
50
-33.3%
$1,700,000
$2,230,000
31.2%
Average List Price
$1,418,714
$1,754,375
23.7%
Average Sale Price
$1,348,214
$1,724,813
27.9%
92.0%
96.8%
5.1%
$9,437,500
$13,798,500
46.2%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
GREENWOOD VILLAGE EAST
January through March
Boundaries: I-25 to Havana; Belleview to Orchard
2020
2021
% Change
1
2
100.0%
$489
$399
-18.5%
3
29
866.7%
Highest Price
$1,500,000
$1,850,000
23.3%
Average List Price
$1,500,000
$1,999,500
33.3%
Average Sale Price
$1,500,000
$1,774,500
18.3%
100.0%
90.2%
-9.8%
$1,500,000
$3,549,000
136.6%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
(Over 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
2020
2021
% Change
6
11
83.3%
$418
$533
27.5%
14
34
142.9%
Highest Price
$2,142,000
$3,445,000
60.8%
Average List Price
$1,524,000
$2,306,636
51.4%
Average Sale Price
$1,469,333
$2,326,618
58.3%
95.9%
99.1%
3.4%
$8,816,000
$25,592,000
190.3%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
(Under 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
GREENWOOD VILLAGE WEST
January through March
LIV SIR represented the seller for the highest priced sale in Greenwood Village West (over one acre) for Q1 of 2021.
GREENWOOD VILLAGE WEST
January through March
7
January through March
2020
2021
% Change
12
20
66.7%
$519
$520
0.2%
81
43
-46.9%
Highest Price
$2,650,000
$3,634,474
37.1%
Average List Price
$1,838,583
$1,778,800
-3.3%
Average Sale Price
$1,790,878
$1,719,849
-4.0%
92.5%
96.4%
4.2%
$21,490,536
$34,396,974
60.1%
# of Properties Sold
HILLTOP
Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
KEN-CARYL NORTH RANCH
HUNTINGTON TRAILS/LEXINGTON
Boundaries: Alameda to 6th; Colorado to Holly
8
23.0% The highest price in Huntington Trails/Lexington increased by 23.0% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
2
5
150.0%
$353
$346
-1.8%
22
128
481.8%
Highest Price
$1,470,000
$1,807,500
23.0%
Average List Price
$1,375,000
$1,424,800
3.6%
Average Sale Price
$1,335,000
$1,418,900
6.3%
95.4%
101.6%
6.4%
$7,094,500
165.7%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price
$2,670,000
Total Dollar Volume
Boundaries: Lexington Place to 144 Avenue; McKay Lake to Huron Street th
57.1% The average days on market in Ken-Caryl North Ranch decreased by 57.1% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
2
2
0.0%
$333
$321
-3.5%
42
18
-57.1%
Highest Price
$1,176,500
$1,420,000
20.7%
Average List Price
$1,189,500
$135,000
-88.7%
Average Sale Price
$1,150,750
$1,335,000
16.0%
96.8%
97.5%
0.7%
$2,301,500
$2,670,000
16.0%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Red Fox Lane to North Ranch Road; Golden Eagle Road to Blue Grouse Ridge Road
2020
2021
% Change
4
21
425.0%
$411
$496
20.8%
3
12
300.0%
$1,200,000
$1,507,000
25.6%
Average List Price
$1,067,250
$1,285,186
20.4%
Average Sale Price
$1,112,500
$1,300,458
16.9%
105.6%
100.6%
-4.7%
$4,450,000
$27,309,610
513.7%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
LIV SIR represented the seller for the highest priced sale in Mayfair/ Montclair for Q1 of 2021.
Boundaries: Colorado to Quebec; 6th to Colfax
2020
2021
% Change
11
18
63.6%
$512
$543
6.0%
51
71
39.2%
Highest Price
$2,870,000
$3,307,500
15.2%
Average List Price
$1,920,636
$2,103,261
9.5%
Average Sale Price
$1,883,545
$2,052,416
9.0%
97.0%
94.8%
-2.3%
$20,719,000
$36,943,490
78.3%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
OBSERVATORY PARK
January through March
Boundaries: University to Colorado; Evans to Yale
January through March
2021
% Change
1
3
200.0%
$309
$388
25.6%
181
93
-48.6%
Highest Price
$1,400,000
$3,900,000
178.6%
Average List Price
$1,449,000
$3,761,667
159.6%
Average Sale Price
$1,400,000
$3,341,667
138.7%
93.4%
89.6%
-4.0%
$1,400,000
$10,025,000
616.1%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: North of Mineral; South of Arabian Place; West of the S Platte River; East of S. Platte Canyon Road
159.6% The average list price in Polo Reserve increased by 159.6% January through March 2021 compared to that of 2020.
POLO RESERVE
2020
MAYFAIR/MONTCLAIR
January through March
9
SPRUCE MEADOWS WASHINGTON PARK EAST /CENTRAL
10
95.3% The number of properties sold in Spruce Meadows increased by 95.3% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
190
371
95.3%
$536
$566
5.6%
57
51
-10.5%
Highest Price
$4,625,000
$6,075,000
31.4%
Average List Price
$1,538,846
$1,614,048
4.9%
Average Sale Price
$1,493,116
$1,612,279
8.0%
96.1%
98.7%
2.7%
$284,311,467
$598,155,519
110.4%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Federal Blvd to Zuni Street; High Prairie Way to 156th Avenue
175.8% The highest price in Washington Park East/Central increased by 175.8% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
6
13
116.7%
$498
$649
30.3%
63
50
-20.6%
Highest Price
$1,775,000
$4,895,000
175.8%
Average List Price
$1,349,000
$2,336,538
73.2%
Average Sale Price
$1,325,000
$2,349,004
77.3%
93.4%
99.3%
6.2%
$7,950,000
$30,537,050
284.1%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Louisiana to Ellsworth, Ogden to University
SOUTH METRO LUXURY MARKET There’s always something new in South Metro. This community is continually growing to offer new experiences for consumers and businesses as well as exciting opportunities to buy and sell luxury real estate. Compared to Q1 of 2020, South Metro luxury home sales have increased by an astounding 111.1%. The average sale price for luxury homes in this community grew by 2.6%, bringing the average sale price to $1,491,060. This boom in real estate activity and appreciation of average luxury home prices have boosted the overall sales volume by 116.7%, to reach a total of $254,971,237. Several neighborhoods within South Metro have
DOUGLAS COUNTY
seen similar levels of success on smaller scales.
January through March
Heritage Hills is one of those neighborhoods, with
# of Properties Sold
luxury home sales increasing by 125% through
Average Price per Square Foot
March of 2021, in a year-to-date comparison to
Average Days on Market
the same time frame in 2020. Looking at average
2020
2021
% Change
81
171
111.1%
$412
$420
2.0%
95
68
-28.4%
Highest Price
$3,266,716
$3,725,000
14.0%
sale prices in The Village at Castle Pines, luxury
Average List Price
$1,504,043
$1,505,778
0.1%
home prices have appreciated by 27.1% since
Average Sale Price
$1,452,752
$1,491,060
2.6%
January through March of last year. During the
% Sold Price to List Price
94.4%
98.0%
3.8%
$117,672,935
$254,971,237
116.7%
first three months of 2021, the average sale price
Total Dollar Volume
for high-end homes in this area was $1,799,548. Keene Ranch experienced the most significant increase in overall sales volume, rising by 420.1% to reach a total sales volume of $6,345,000. One high-priced home, which sold for $2,250,000, played a role in this incredible boost in sales volume.
Based on $1,000,000+ sales in Douglas County. Based on information from REColorado. This representation is based in whole or in part on data supplied from REColorado on March 8, 2021. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $1,000,000 Sales
11
BACKCOUNTRY
93.6% The average days on market in Backcountry decreased by 93.6% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
9
15
66.7%
$355
$392
10.4%
109
7
-93.6%
$2,800,000
$2,705,000
-3.4%
Average List Price
$1,372,469
$1,434,199
4.5%
Average Sale Price
$1,350,580
$1,457,433
7.9%
92.6%
101.9%
10.0%
$12,155,219
$21,861,500
79.9%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
FALCON HILLS
January through March
2020
2021
% Change
3
1
-66.7%
$337
$274
-18.7%
8
102
1175.0%
Highest Price
$1,605,000
$1,225,000
-23.7%
Average List Price
$1,503,000
$1,299,500
-13.5%
Average Sale Price
$1,485,000
$1,225,000
-17.5%
98.7%
90.7%
-8.1%
$4,455,000
$1,225,000
-72.5%
2020
2021
% Change
No Sales
1
-
Average Price per Square Foot
-
$373
-
Average Days on Market
-
272
-
Highest Price
-
$1,550,000
-
Average List Price
-
$1,599,000
-
Average Sale Price
-
$1,550,000
-
% Sold Price to List Price
-
88.6%
-
Total Dollar Volume
-
$1,550,000
-
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
HERITAGE ESTATES
January through March
12
# of Properties Sold
2020
2021
% Change
4
9
125.0%
$384
$392
2.1%
82
77
-6.1%
Highest Price
$1,420,000
$1,740,000
22.5%
Average List Price
$1,246,915
$1,423,878
14.2%
Average Sale Price
$1,237,940
$1,429,000
15.4%
95.9%
98.6%
2.8%
$4,951,760
$12,861,000
159.7%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through March
2021
% Change
1
4
300.0%
$355
$410
15.4%
9
4
-55.6%
Highest Price
$1,220,000
$2,250,000
84.4%
Average List Price
$1,295,000
$1,546,225
19.4%
Average Sale Price
$1,220,000
$1,586,250
30.0%
94.2%
102.9%
9.3%
$1,220,000
$6,345,000
420.1%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
The number of properties sold in Heritage Hills increased by 125.0% January through March 2021 compared to that of 2020.
30.0% The average sale price in Keene Ranch increased by 30.0% January through March 2021 compared to that of 2020.
KEENE RANCH
2020
125.0%
HERITAGE HILLS
January through March
Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road
January through March
2021
% Change
6
6
0.0%
$699
$623
-10.9%
164
196
19.5%
Highest Price
$3,047,125
$3,150,000
3.4%
Average List Price
$2,114,958
$2,182,333
3.2%
Average Sale Price
$2,045,229
$2,121,167
3.7%
99.5%
94.2%
-5.3%
$12,271,375
$12,727,000
3.7%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
LIV SIR represented the seller for the highest priced sale in Ravenna for Q1 of 2021.
RAVENNA
2020
Boundaries: Colorado to Quebec; 6th to Colfax
13
SPIRIT RIDGE
January through March
2020
2021
% Change
2
3
50.0%
$296
$325
9.7%
13
352
2607.7%
$1,200,000
$1,500,000
25.0%
Average List Price
$1,219,700
$1,464,497
20.1%
Average Sale Price
$1,145,000
$1,391,667
21.5%
94.0%
86.5%
-8.0%
$2,290,000
$4,175,000
82.3%
2020
2021
% Change
16
19
18.8%
$491
$481
-2.1%
62
62
0.0%
Highest Price
$3,266,716
$3,725,000
14.0%
Average List Price
$1,449,712
$1,828,047
26.1%
Average Sale Price
$1,415,537
$1,799,548
27.1%
95.9%
98.3%
2.6%
$22,648,598
$34,191,411
51.0%
# of Properties Sold Average Price per Square Foot
LIV SIR represented the seller for the highest priced sale in Spirit Ridge for Q1 of 2021.
Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
THE VILLAGE AT CASTLE PINES
Boundaries: University to Colorado; Evans to Yale
14
January through March # of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: US 85 & Copper Blush to Northwood; Daniels Park to Gate 5, Country Club to I-25
FOOTHILLS LUXURY MARKET Nestled at the base of the Rocky Mountains, the Foothills community blends the best features of Denver Metro and mountain living, making it an ideal location for luxury real estate. This unique area has experienced notable increases in the number of high-end home sales through the first three months of 2021, growing by 86.6%. The average price for a luxury home in the Foothills during Q1 was $1,407,656, which is just slightly less than the average sales price during the same time frame last year. Despite the dip in sales price, the total dollar volume sold increased by an impressive 79.7%, bringing the total to $175,957,021.
JEFFERSON COUNTY
Select neighborhoods within the Foothills
January through March
community also saw luxury home sales rise
# of Properties Sold
through March of this year. For example, Ridge
Average Price per Square Foot
at Hiwan saw a 200% increase in the number of
Average Days on Market
luxury listings sold, growing from two listings sold
Highest Price
during Q1 of 2020, to six listings sold during the
Average List Price
same time period this year. Average sale prices
Average Sale Price
for luxury homes also rose in this neighborhood,
% Sold Price to List Price
growing from $1,127,500 last year to $1,415,867
Total Dollar Volume
2020
2021
% Change
67
125
86.6%
$404
$415
2.7%
86
45
-47.7%
$3,300,000
$4,315,000
30.8%
$1,549,503
$1,427,025
-7.9%
$1,461,443
$1,407,656
-3.7%
106.5%
97.6%
-8.4%
$97,916,710
$175,957,021
79.7%
through March of 2021 – a 25.6% increase.
Based on $1,000,000+ sales in Jefferson County. Based on information from REColorado. This representation is based in whole or in part on data supplied from REColorado on March 8, 2021. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $1,000,000 Sales
15
January through March
2020
2021
% Change
4
5
25.0%
$491
$391
-20.4%
49
50
2.0%
Highest Price
$3,100,000
$1,775,300
-42.7%
Average List Price
$1,728,500
$1,489,600
-13.8%
Average Sale Price
$1,616,250
$1,451,060
-10.2%
90.4%
95.3%
5.4%
$6,465,000
$7,255,300
12.2%
GENESEE
# of Properties Sold Average Price per Square Foot
LIV SIR represented the seller for the highest priced sale in Genesee for Q1 of 2021.
Average Days on Market
% Sold Price to List Price Total Dollar Volume
RIDGE AT HIWAN
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
200% The number of properties sold in Ridge at Hiwan increased by 200.0% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
2
6
200.0%
$246
$385
56.6%
19
14
-26.3%
Highest Price
$1,180,000
$1,620,000
37.3%
Average List Price
$1,152,500
$1,390,367
20.6%
Average Sale Price
$1,127,500
$1,415,867
25.6%
95.4%
102.0%
6.9%
$2,255,000
$8,495,000
276.7%
2020
2021
% Change
No Sales
1
-
Average Price per Square Foot
-
$292
-
Average Days on Market
-
258
-
Highest Price
-
$1,850,000
-
Average List Price
-
$1,950,000
-
Average Sale Price
-
$1,850,000
-
% Sold Price to List Price
-
92.5%
-
Total Dollar Volume
-
$1,850,000
-
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through March
RIVA CHASE
# of Properties Sold
16
January through March
2021
% Change
4
1
-75.0%
$499
$533
6.7%
181
11
-93.9%
Highest Price
$3,300,000
$1,175,000
-64.4%
Average List Price
$2,276,250
$1,279,000
-43.8%
Average Sale Price
$2,081,750
$1,175,000
-43.6%
91.9%
91.9%
-0.1%
$8,327,000
$1,175,000
-85.9%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
SODA CREEK
2020
17
BOULDER VALLEY LUXURY MARKET The luxury real estate market in Boulder County continued to show improvement from last year, with the number of luxury listings sold rising by 27% through March in a year-to-date comparison to the same time frame in 2020. The average sale price for high-end homes in this area rose by 8% through Q1, bringing the average sold price for luxury homes to $1,807,499. With more consumers looking for luxury listings, the average days on market for homes in Boulder County dipped by 10%, from 101 days on market through Q1 last year, to 92 days on market this year. These factors led to the area’s
BOULDER COUNTY
37% increase in total dollar volume sold, which
January through March
reached $365,114,801 through March.
# of Properties Sold Average Price per Square Foot
Several neighborhoods within Boulder County
Average Days on Market
saw enhanced activity within the luxury real estate
Highest Price
market during Q1. The communities within the
Average Sold Price
Boulder County Plains, which includes Niwot,
% Sold Price to List Price
Somerset Meadows, White Hawk Ranch, Fairview
Total Dollar Volume
2020
2021
% Change
159
202
27.0%
$542
$524
-3.0%
102
92
-10.0%
$8,000,000
$6,600,000
-18.0%
$ 1,674,339
$1,807,499
8.0%
96.1%
98.4%
2.0%
$ 266,219,948
$ 365,114,801
37.0%
Estates, Paragon Estates, and Spanish Hills, experienced a 100% increase in the number of luxury homes sold through March 2021 when 16 luxury homes sold, compared to last year when only eight homes sold. Other neighborhoods, such as the Foothills communities, saw luxury home prices appreciate. In this area, luxury homes sold for an average price of $1,487,000 during Q1, a 14.6% rise compared to the prior year.
Based on $1,000,000+ sales in Boulder County. Based on information from IRES, LLC. This representation is based in whole or in part on data supplied by IRES, LLC on March 8, 2021. IRES, LLC does not guarantee nor is in any way responsible for its accuracy. Data maintained by IRES,LLC may not reflect all real estate activity in the market.
18
+ $1,000,000 Sales
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
# of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
2021
% Change
130
152
17.0%
$590
$570
-3.0%
100
88
-12.0%
$8,000,000
$6,450,000
-19.0%
$ 1,724,972
$1,803,040
5.0%
96.2%
99.0%
3.0%
$ 224,246,402
$ 274,062,013
22.0%
2020
2021
% Change
8
16
100.0%
112
76
-32.1%
$2,465,000
$3,222,983
30.7%
$1,616,688
$1,739,959
7.6%
98.0%
98.6%
0.6%
$12,933,500
$27,839,338
115.2%
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
# of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
2020
2021
% Change
8
4
-50.0%
124
124
0.0%
$ 2,600,000
$ 1,750,000
-32.7%
$ 1,616,281
$1,462,500
-9.5%
94.7%
94.9%
0.2%
$ 12,930,247
$ 5,850,000
-54.8%
The average days on market in Boulder County Plains decreased by 32.1% January through March 2021 compared to that of 2020.
32.1% The
average
days
on
market
in
Boulder County Plains decreased by 32.1%
January
2021
compared
through
December
to
of
that
2020.
DOWNTOWN BOULDER
January through March
32.1%
BOULDER COUNTY PLAINS
January through March
2020
BOULDER (CITY)
January through March
19
FOOTHILLS COMMUNITIES UNIVERSITY HILL & CHAUTAUQUA 20
22.1% The highest price in the Foothills Communities increased by 22.1% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
2
5
150.0%
46
41
-10.9%
Highest Price
$1,595,000
$1,947,000
22.1%
Average Sold Price
$1,297,500
$1,487,000
14.6%
100.0%
99.0%
-1.0%
$2,595,000
$7,435,000
186.5%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
January through March
2020
2021
% Change
# of Properties Sold
15
23
53.3%
Average Days on Market
75
82
9.3%
$3,700,000
$3,200,000
-13.5%
$1,777,514
$1,781,975
0.3%
97.1%
99.1%
2.1%
$26,662,710
$40,985,421
53.7%
Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
COLORADO SPRINGS LUXURY MARKET South of the City of Denver, Colorado Springs offers exciting entertainment options, outdoor adventures, and a slightly more suburban take on Denver Metro living. As one of the country’s hottest secondary markets, Colorado Springs has seen an influx of activity in its luxury home market. During the first quarter of 2021, this community saw luxury home sales increase by 219% in comparison to the same time period last year. The sales prices for luxury listings in Colorado Springs also rose, increasing by 16.8% to make the average
EL PASO & TELLER COUNTY
sales price $1,484,389. Together, these factors contributed to the 272.7% boost in overall sales
January through March
2020
2021
% Change
volume, which totaled $99,454,063.
Properties Sold
21
67
219.0%
$204
$259
27.0%
82
72
-12.2%
$2,200,000
$3,800,000
72.7%
Average List Price
$1,312,651
$1,614,479
23.0%
Average Sales Price
$1,270,747
$1,484,389
16.8%
98.7%
96.9%
-1.8%
$26,685,687
$99,454,063
272.7%
Avg Price per Square Foot
Within Colorado Springs, the Broadmoor Area experienced a notable 466.7% increase in luxury home sales through March of 2021, compared to January through March of 2020. Heightened demand for homes in this community caused home prices to appreciate by 19.6%, bringing the
Avg Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
average sales price to $1,745,345. Monument, a nearby community, also saw the number of luxury home sales rise, increasing by 250% during Q1 of 2021. Luxury homes in this area sold for an average price of $1,237,714, which is 15.8% higher than average luxury home prices during Q1 of last year.
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2021 through March 31, 2021. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.
+ $1,000,000 Sales
21
MONUMENT
250% The number of properties sold in Monument increased by 250.0% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
2
7
250.0%
$204
$212
3.9%
2
23
1050.0%
Highest Price
$1,100,000
$1,425,000
29.5%
Average List Price
$1,069,138
$1,284,500
20.1%
Average Sales Price
$1,069,138
$1,237,714
15.8%
100.0%
96.6%
-3.4%
$2,138,276
$8,663,998
305.2%
2020
2021
% Change
No Sales
7
-
Avg Price per Square Foot
-
$247
-
Avg Days on Market
-
64
-
Highest Price
-
$1,969,300
-
Average List Price
-
$1,457,208
-
Average Sales Price
-
$1,427,853
-
% Sold Price to List Price
-
99.6%
-
Total Dollar Volume
-
$9,994,971
-
2020
2021
% Change
3
17
466.7%
$211
$261
23.7%
131
91
-30.5%
$2,200,000
$3,800,000
72.7%
Average List Price
$1,544,667
$2,009,882
30.1%
Average Sales Price
$1,459,667
$1,745,345
19.6%
95.9%
95.4%
-0.5%
$4,379,001
$29,670,865
577.6%
Properties Sold Avg Price per Square Foot Avg Days on Market
% Sold Price to List Price Total Dollar Volume
January through March
BROADMOOR
FLYING HORSE
Properties Sold
466.7% The number of properties sold in the Broadmoor area increased by 466.7% January through March 2021 compared to that of 2020.
January through March Properties Sold Avg Price per Square Foot Avg Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
22
2021
% Change
11
16
45.5%
$207
$275
32.9%
87
37
-57.5%
Highest Price
$1,887,400
$2,435,000
29.0%
Average List Price
$1,320,400
$1,371,921
3.9%
Average Sales Price
$1,258,492
$1,356,427
7.8%
97.3%
98.7%
1.4%
$13,843,412
$21,702,832
56.8%
2020
2021
% Change
8
16
100.0%
112
76
-32.1%
$2,465,000
$3,222,983
30.7%
$1,616,688
$1,739,959
7.6%
98.0%
98.6%
0.6%
$12,933,500
$27,839,338
115.2%
Properties Sold Avg Price per Square Foot Avg Days on Market
% Sold Price to List Price Total Dollar Volume
January through March # of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
32.9% The average price per square foot in Black Forest increased by 32.9% January through March 2021 compared to that of 2020.
32.1% The average days on market in Kissing Camels decreased by 32.1% January through March 2021 compared to that of 2020.
KISSING CAMELS
2020
BLACK FOREST
January through March
23
GRAND COUNTY LUXURY MARKET Located northwest of Denver, Grand County provides residents with a mountain living experience without being too far removed from the city. Through March of this year, luxury homes sales in this collection of mountain communities rose by 66.7%. Here, the average price for a luxury home was $1,775,836 in Q1. Intense demand for local luxury listings increased the speed of the market. During Q1 of 2021, the number of days a home typically spent on the market was 163 days, down 38.5% from the same time period last year. Within Grand County, the single family home markets in Granby and Tabernash experienced the most notable increases in luxury home sales during Q1. In Granby, luxury real estate sales increased by 100%. In Tabernash, luxury real estate sales increased by 200% in a year-to-date comparison to the same time frame.
GRAND COUNTY January through March
2020
2021
% Change
15
25
66.7%
265
163
-38.5%
Highest Price
$6,233,370
$4,600,000
-26.2%
Average List Price
$2,140,900
$1,849,712
-13.6%
Average Sold Price
$2,036,663
$1,775,836
-12.8%
91.4%
93.7%
2.5%
$30,549,956
$44,395,900
45.3%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Based on $1,000,000+ sales for Grand County. Based on Information from Grand County’s Board of Realtors. This representation is based in whole or in part on data supplied by the Grand County Board of Realtors on March 8, 2021. The Grand County Board of Realtors does not guarantee nor is in any way responsible for its accuracy. Data maintained by the Grand County Board of Realtors may not reflect all real estate activity in the market.
24
+ $1,000,000 Sales
January through March
2021
% Change
4
3
-25.0%
219
60
-72.6%
Highest Price
$1,740,000
$2,646,000
52.1%
Average List Price
$1,536,750
$1,970,000
28.2%
Average Sold Price
$1,516,271
$1,744,500
15.1%
96.8%
90.9%
-6.1%
$6,065,086
$5,233,500
-13.7%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
72.6% The average days on market in
Winter Park decreased by 72.6% January through December 2021 compared to that of 2020.
WINTER PARK
2020
Single Family Homes
January through March
2021
% Change
No Sales
5
-
Average Days on Market
-
162
-
Highest Price
-
$4,600,000
-
Average List Price
-
$2,028,800
-
Average Sold Price
-
$2,022,600
-
% Sold Price to List Price
-
98.6%
-
Total Dollar Volume
-
$10,113,000
-
# of Properties Sold
GRAND LAKE
2020
Single Family Homes
January through March
2021
% Change
6
4
-33.3%
241
106
-56.0%
Highest Price
$3,710,000
$4,100,000
10.5%
Average List Price
$2,339,833
$2,597,475
11.0%
Average Sold Price
$2,166,250
$2,460,600
13.6%
84.2%
96.0%
14.0%
$129,970,500
$9,842,400
-92.4%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
13.6% The average sold price in Fraser increased by 13.6% January through December 2021
FRASER
2020
compared to that of 2020.
Single Family Homes
25
January through March
2020
2021
% Change
2
4
100.0%
539
62
-88.5%
Highest Price
$6,233,370
$1,460,000
-76.6%
Average List Price
$3,897,250
$1,243,750
-68.1%
Average Sold Price
$3,691,685
$1,224,125
-66.8%
89.4%
98.5%
10.2%
$7,383,370
$4,896,500
-33.7%
# of Properties Sold
GRANBY
Average Days on Market
% Sold Price to List Price Total Dollar Volume
TABERNASH
All Properties
22.5% The average list price in Tabernash increased by 22.5% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
2
6
200.0%
39
178
356.4%
$1,659,000
$3,050,000
83.8%
Average List Price
$1,517,000
$1,858,150
22.5%
Average Sold Price
$1,507,000
$1,817,583
20.6%
99.3%
91.5%
-7.9%
$3,014,000
$10,905,500
261.8%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
All Properties
KREMMLING
January through March
2020
2021
% Change
No Sales
2
-
Average Days on Market
-
650
-
Highest Price
-
$1,225,000
-
Average List Price
-
$1,315,000
-
Average Sold Price
-
$1,162,500
-
% Sold Price to List Price
-
74.8%
-
Total Dollar Volume
-
$2,325,000
-
# of Properties Sold
All Properties
26
SUMMIT COUNTY LUXURY MARKET As one of Colorado’s most popular resort destinations, Summit County has seen encouraging growth within the luxury real estate market so far this year. Over the last three months, Summit County has seen a 118.8% increase in luxury home sales in a year-to-date comparison to the same time in 2020. In addition to seeing more luxury real estate sales, the average home prices in this community appreciated by 6.2%, making the average sale price for luxury homes in Summit County $3,064,186. Looking at the days on market, luxury homes in this community spent an average of 44% less time on the market through March compared to the same time frame last year.
SUMMIT COUNTY January through March
2020
2021
% Change
16
35
118.8%
$674
$675
0.3%
Through March of this year, the average list price
# of Properties Sold
for luxury, single family homes in Breckenridge
Average Price per Square Foot
rose by 8.2%, making the average sold price for
Average Days on Market
175
98
-44.0%
high-end homes in this neighborhood $3,221,024.
Highest Price
$4,600,000
$5,295,000
15.1%
Here, the number of luxury listings sold increased
Average List Price
$3,085,438
$3,175,714
2.9%
by 75%, from 12 homes sold during Q1 of 2020 to
Average Sold Price
$2,885,655
$3,064,186
6.2%
21 homes sold through Q1 of 2021. Breckenridge’s
% Sold Price to List Price
94.4%
96.6%
2.3%
$46,170,472
$107,246,500
132.3%
overall sales volume rose by an impressive 89.4%,
Total Dollar Volume
totaling $67,641,500.
Based on $2,000,000+ sales in Summit County. Based on information from Summit Association of Realtors®. This representation is based in whole or in part on data supplied by Summit Association of Realtors® on March 8, 2021. Summit Association of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Summit Association of Realtors® may not reflect all real estate activity in the market.
+ $2,000,000 Sales
27
BRECKENRIDGE
January through March
2020
2021
% Change
12
21
75.0%
$652
$653
0.2%
195
109
-44.1%
$4,600,000
$5,295,000
15.1%
Average List Price
$3,213,083
$3,322,476
3.4%
Average Sold Price
$2,976,289
$3,221,024
8.2%
93.5%
97.1%
3.9%
$35,715,472
$67,641,500
89.4%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
COPPER MOUNTAIN
Single Family Homes
97.9% The average days on market in Copper Mountain decreased by 97.9% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
1
1
0.0%
$563
$605
7.5%
189
4
-97.9%
Highest Price
$3,600,000
$3,850,000
6.9%
Average List Price
$3,795,000
$3,995,000
5.3%
Average Sold Price
$3,600,000
$3,850,000
6.9%
94.86%
96.4%
1.6%
$3,600,000
$3,850,000
6.9%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
January through March
2020
2021
% Change
No Sales
3
-
Average Price per Square Foot
-
$607
-
Average Days on Market
-
110
-
Highest Price
-
$4,025,000
-
Average List Price
-
$3,390,000
-
Average Sold Price
-
$3,240,000
-
% Sold Price to List Price
-
94.6%
-
Total Dollar Volume
-
$9,720,000
-
KEYSTONE
# of Properties Sold
Single Family Homes
28
CRESTED BUTTE LUXURY MARKET Crested Butte’s breathtaking mountain vistas, historic Colorado charm, and active lifestyle make it a premier destination for luxury real estate. With that in mind, it’s no wonder that Gunnison County, which encompasses the Crested Butte community, saw an incredible 333.3% increase in luxury homes sales during Q1 of 2021, in a year-to-date comparison of the same time frame in 2020. The average sale price for luxury homes in the area also experienced an upward trend through March of this year, appreciating by 34.1% to reach $5,137,307. Overall, the total sales volume for Gunnison County increased by 481.1%, totaling $66,785,000 in Q1. Looking at individual neighborhoods within
GUNNISON COUNTY
Crested Butte, several communities saw positive increases in luxury homebuying and selling
January through March
activity. Rural Crested Butte’s single family home
# of Properties Sold
market experienced an impressive 400% boost
Average Price per Square Foot
in the number of luxury homes sold, rising to five
Average Days on Market
sales through March of this year from just one sale through March of 2020. The additional luxury home sales raised the total dollar volume sold by 177.7%, bringing the overall sales volume to $13,885,000.
2020
2021
% Change
3
13
333.3%
$1,112
$736
-33.8%
334
221
-33.8%
Highest Price
$5,000,000
$27,000,000*
440.0%
Average List Price
$5,655,000
$5,463,384
-3.4%
Average Sale Price
$3,831,050
$5,137,307
34.1%
67.7%
94.0%
38.9%
$11,493,150
$66,785,000
481.1%
% Sold Price to List Price Total Dollar Volume
* The closing of a large ranch property located in the southwest portion of Gunnison County occurred in January 2021. Please note that the outsized purchase price could skew the analysis of the broader market for more typical properties sold in the local area.
Based on $2,000,000+ residential sales in Gunnison County. Based on data from the Gunnison County Association of Realtors® MLS, Colorado Real Estate Network (CREN) on March 8, 2021. Verify with a local Realtor®. All information is deemed reliable but not guaranteed. Data maintained by CREN MLS may not reflect all real estate activity in the market.
+ $2,000,000 Sales
29
RURAL CRESTED BUTTE 30
2020
2021
% Change
2
2
0.0%
Average Price per Square Foot
N/A
$933
-
Average Days on Market
176
234
33.0%
Highest Price
$3,363,150
$3,400,000
1.1%
Average List Price
$3,485,000
$2,999,500
-13.9%
Average Sale Price
$3,246,575
$2,837,500
-12.6%
93.2%
94.6%
1.5%
$6,493,150
$5,675,000
-12.6%
# of Properties Sold
LIV SIR represented the buyer for the highest priced sale in the Town of Crested Butte for Q1 of 2021.
% Sold Price to List Price Total Dollar Volume
Single Family Homes
MT. CRESTED BUTTE
TOWN OF CRESTED BUTTE
January through March
January through March
2020
2021
% Change
No Sales
2
-
Average Price per Square Foot
-
$500
-
Average Days on Market
-
166
-
Highest Price
-
$3,350,000
-
Average List Price
-
$2,875,000
-
Average Sale Price
-
$2,725,000
-
% Sold Price to List Price
-
94.8%
-
Total Dollar Volume
-
$5,450,000
-
# of Properties Sold
Single Family Homes
400% The number of properties sold in Rural Crested Butte increased by 400.0% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
1
5
400.0%
$1,242
$752
-39.4%
650
253
-61.1%
Highest Price
$5,000,000
$3,385,000
-32.3%
Average List Price
$9,995,000
$2,916,000
-70.8%
Average Sale Price
$5,000,000
$2,777,000
-44.5%
50.0%
95.2%
90.4%
$5,000,000
$13,885,000
177.7%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
VAIL VALLEY LUXURY MARKET When it comes to luxury living in Colorado, the Vail Valley, located within Eagle County, is an easy choice for any homebuyer looking for a blend of nature and resort amenities. So far this year, the Vail Valley has seen a significant increase in luxury home sales, rising by 138.1% in comparison to January through March of 2020. Although the average price for luxury homes in the area decreased slightly, dipping by 11.9%, the overall sales volume experienced an impressive 109.7% boost, reaching $260,081,700. The demand for luxury homes in this community pushed the average days on
EAGLE COUNTY
market for listings down by 44.2%, leaving high-
January through March
end homes on the market for an average time of
# of Properties Sold
215 days.
Average Price per Square Foot Average Days on Market
2020
2021
% Change
21
50
138.1%
$1,401
$1,129
-19.4%
385
215
-44.2%
$16,750,000
$13,500,000
-19.4%
Within the Vail Valley, the Bachelor Gulch
Highest Price
neighborhood saw one of the most significant
Average List Price
$6,440,238
$5,463,740
-15.2%
increases in the number of luxury homes sold,
Average Sale Price
$5,906,428
$5,201,634
-11.9%
rising by 350%, from two homes sold during Q1
% Sold Price to List Price
94.0%
95.4%
1.5%
$124,035,000
$260,081,700
109.7%
of 2020 to nine homes sold through Q1 of this
Total Dollar Volume
year. This area also experienced the most notable appreciation of luxury home prices. The average sale price in Bachelor Gulch rose from $4,437,500 through Mach of last year to $6,407,083 through March of 2021, a 44.4% increase. Boosts in luxury homebuying were also seen in the Town of Vail, where there were 18.2% more luxury real estate sales during Q1 of this year, compared to the same time frame last year. Average sale prices also rose in Arrowhead, where high-end homes sold for an average price of $5,636,737, which is 74.1% more than they did during the same time frame last year.
Based on $3,000,000+ sales in Eagle County. Based on information from Vail Board of Realtors®. This representation is based in whole or in part on data supplied by Vail Board of Realtors® on March 8, 2021. Vail Board of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors® may not reflect all real estate activity in the market.
+ $3,000,000 Sales
31
January through March
2020
2021
% Change
2
4
100.0%
$555
$752
35.5%
208
80
-61.5%
Highest Price
$3,325,000
$10,605,750
219.0%
Average List Price
$3,397,500
$5,921,250
74.3%
Average Sale Price
$3,237,500
$5,636,737
74.1%
95.3%
94.8%
-0.5%
$6,475,000
$22,546,950
248.2%
ARROWHEAD
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
BACHELOR GULCH
Single Family Homes
170.0% The highest price in Bachelor Gulch increased by 170.0% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
2
9
350.0%
$646
$1,141
76.6%
245
50
-79.6%
$5,000,000
$13,500,000
170.0%
Average List Price
$4,747,500
$6,625,556
39.6%
Average Sale Price
$4,437,500
$6,407,083
44.4%
93.9%
97.1%
3.4%
$8,875,000
$57,663,750
549.7%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Single Family Homes
BEAVER CREEK
January through March
2020
2021
% Change
3
12
300.0%
$1,018
$1,089
7.0%
370
338
-8.6%
Highest Price
$6,500,000
$10,950,000
68.5%
Average List Price
$5,680,000
$5,728,250
0.8%
Average Sale Price
$5,303,333
$5,546,583
4.6%
93.4%
97.3%
4.2%
$15,910,000
$66,559,000
318.3%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
32
January through March
2021
% Change
11
13
18.2%
$2,036
$1,772
-13.0%
510
269
-47.3%
$16,750,000
$7,250,000
-56.7%
Average List Price
$8,266,818
$5,008,846
-39.4%
Average Sale Price
$7,472,727
$4,723,461
-36.8%
93.3%
94.6%
1.3%
$82,200,000
$61,405,000
-25.3%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
47.3% The average days on market in the Town of Vail decreased by 47.3% January through March 2021 compared to that of 2020.
TOWN OF VAIL
2020
All Properties
January through March
Average Price per Square Foot Average Days on Market Highest Price Average List Price Average Sale Price % Sold Price to List Price Total Dollar Volume
2021
% Change
6
5
-16.7%
$2,520
$2,240
-11.1%
712
144
-79.8%
$16,750,000
$6,400,000
-61.8%
$11,799,167
$5,705,000
-51.6%
$10,450,000
$5,156,000
-50.7%
90.2%
90.2%
0.0%
$62,700,000
$25,780,000
-58.9%
VAIL VILLAGE
# of Properties Sold
2020
All Properties
January through March
2021
% Change
3
4
33.3%
$1,913
$1,872
-2.1%
158
294
86.1%
Highest Price
$4,250,000
$4,650,000
9.4%
Average List Price
$3,983,333
$4,160,000
4.4%
Average Sale Price
$3,900,000
$4,056,250
4.0%
98.2%
97.4%
-0.8%
$11,700,000
$16,225,000
38.7%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
4.4% The average list price in Lionshead increased by 4.4% January through March 2021 compared to that of 2020.
LIONSHEAD
2020
All Properties
33
VAIL GOLF COURSE MOUNTAIN STAR
January through March
2020
2021
% Change
No Sales
1
-
Average Price per Square Foot
-
$1,110
-
Average Days on Market
-
537
-
Highest Price
-
$4,300,000
-
Average List Price
-
$4,500,000
-
Average Sale Price
-
$4,300,000
-
% Sold Price to List Price
-
95.6%
-
Total Dollar Volume
-
$4,300,000
# of Properties Sold
All Properties
January through March
2020
2021
% Change
No Sales
2
-
Average Price per Square Foot
-
$591
-
Average Days on Market
-
736
-
Highest Price
-
$6,250,000
-
Average List Price
-
$5,622,500
-
Average Sale Price
-
$5,250,000
-
% Sold Price to List Price
-
93.6%
-
Total Dollar Volume
-
$10,500,000
-
# of Properties Sold
All Properties
34
TELLURIDE LUXURY MARKET As a popular year-round destination for action, adventure, and relaxation, the beautiful community of Telluride is a place that is beloved by many for its combination of rustic and luxurious lifestyles. During the first quarter of the year, San Miguel County, which makes up Telluride and its surrounding neighborhoods, saw the number of luxury home sales increase by 50%, compared to the same time frame in 2020. The luxury listings in this area sold for an average price of $5,168,526, which is 1.9% higher than the average sold price during Q1 of last year. These two factors contributed to the 52.8%
SAN MIGUEL COUNTY
increase in total sales volume, which reached
January through March
$139,550,202.
# of Properties Sold Average Price per Square Foot
2020
2021
% Change
18
27
50.0%
$1,533
$972
-36.6%
487
379
-22.2%
$11,200,000
$9,550,000
-14.7%
In the Town of Telluride, there were four luxury
Average Days on Market
properties sold from January to March of this
Highest Price
year. The average sold price of those sale was
Average List Price
$5,499,278
$5,420,481
-1.4%
$7,675,000, which is 73% higher than the average
Average Sold Price
$5,072,514
$5,168,526
1.9%
sold price during the same time frame last year.
% Sold Price to List Price
92.2%
96.3%
4.4%
$91,305,250
$139,550,202
52.8%
This significant increase is influenced by one
Total Dollar Volume
particularly impressive sale, which closed for $9,550,000. In the nearby community of Mountain Village, there were 13 luxury properties sold during Q1, a 225% increase over last year when four luxury homes sold during that time frame. The average price for those luxury homes was $5,114,054, a 16% increase from Q1 of 2020.
Based on sales $3,000,000+ and information from flexmls/Telluride Association of Realtors®. This representation is based in whole or in part on data supplied by Telluride Association of Realtors® on March 8, 2021. Telluride Association of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Telluride Association of Realtors® may not reflect all real estate activity in the market.does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $3,000,000 Sales
35
The average days on market in the Town of Telluride decreased by 51.2% January through March 2021 compared to that of 2020.
SURROUNDING MESAS 36
2020
2021
% Change
4
4
0.0%
$1,678
$1,661
-1.0%
363
177
-51.2%
Highest Price
$5,900,000
$9,550,000
61.9%
Average List Price
$4,665,000
$7,996,250
71.4%
Average Sold Price
$4,428,625
$7,675,000
73.3%
94.9%
96.5%
1.7%
$17,714,500
$30,700,000
73.3%
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
All Properties
MOUNTAIN VILLAGE
TOWN OF TELLURIDE
51.2%
January through March
January through March
2020
2021
% Change
4
13
225.0%
$1,018
$880
-13.6%
218
390
78.9%
Highest Price
$6,335,000
$7,795,000
23.0%
Average List Price
$4,622,500
$5,376,154
16.3%
Average Sold Price
$4,396,250
$5,114,054
16.3%
95.1%
96.5%
1.5%
$17,585,000
$66,482,702
# of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
278.1% All Properties
419.8% The average sold price in the surrounding mesas increased by 419.8% January through March 2021 compared to that of 2020.
January through March
2020
2021
% Change
10
6
-40.0%
$503
$711
41.4%
599
434
-27.5%
$1,775,000
$6,222,500
250.6%
Average List Price
$998,400
$4,806,333
381.4%
Average Sold Price
$876,050
$4,553,750
419.8%
87.2%
95.3%
9.3%
$8,760,500
$27,322,500
211.9%
# of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Deep Creek Mesa, Hastings Mea, Iron Springs/Horsefly Mesa, Specie Mesa, Sunshine Mesa, Turkey Creek Mesa, Wilson Mesa
37