Colorado Luxury Report | Quarter 2, 2022

QUARTER 2 2022

Luxury Report

20 Fisher Canyon Court, Ridgway

4000 Bellyache Ridge Road, Vail Valley

1

RESIDENTIAL LUXURY REPORT INTRODUCTION

After two years of unprecedented real estate activity, the market is starting to shift back to its typical pre-pandemic homebuying trends. Despite a cooling market for all price points, the luxury sector of the market has more momentum through the first half of 2022. While the pace at which luxury homes are being purchased is not growing at the same speed that it was in previous years, the strong demand for homes that provide the lifestyle that Colorado homes offer is still very present.

The demand for these homes paired with the low levels of luxury inventory signal that the high-end home market in Colorado will remain productive in the coming months and yield plenty of opportunities for both buyers and sellers.

LIV Sotheby’s International Realty produces a quarterly Residential Luxury Report, comparing January through June of this year to the previous year, measuring the performance of luxury real estate markets in some of Colorado’s most popular communities and 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+), Colorado Springs ($1 million+), Grand County ($1 million+), the Foothills ($1 million+), Boulder ($1 million+), the Vail Valley ($3 million+), Summit County ($2 million+), Crested Butte ($2 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 $1 Million +

P. CRESTED BUTTE $2 Million +

DENVER METRO LUXURY MARKET Denver Metro continues to attract homebuyers and provide opportunities to sellers even as the market begins to shift. At the halfway mark for the year, the six counties across Denver Metro experienced a 29.0% increase in the number of luxury homes sold through June compared to the same period in 2021. While average sale price decreased slightly by 0.5%, the rise in luxury home sales resulted in a 28.3% increase in the dollar volume sold, bringing the total to $4,881,130,326.

The strength of the market was seen throughout the individual neighborhoods within Denver Metro as well. The Washington Park East/ Central neighborhood had the most luxury homes sold through Q2, totaling 78 homes. The most significant increase in luxury home sales was recorded in the Bow Mar/Bow Mar South community where the total number of high-end homes sold rose by 83.3% - rising from 6 to 11 homes sold.

DENVER METRO January through June

2021

2022

% Change

# of Properties Sold

2,374

3,062

29.0%

Average Price Per Square Foot

$508

$577

13.5%

35

17

-51.4%

$9,000,000

$13,000,000

44.4%

Average List Price

$1,582,912

$1,526,163

-3.6%

Average Sale Price

$1,602,284

$1,594,099

-0.5%

101.1%

105.5%

4.3%

$3,803,821,871

$4,881,130,326

28.3%

Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Counties: Adams, Arapahoe, Broomfield, Denver, Douglas, Jefferson The demand for homes in Denver Metro has created an upward trend in luxury property prices.

The Hilltop neighborhood saw a 25.8% increase in sold prices for luxury homes. From January to June of this year, the average sold price for a luxury home in this neighborhood was $2,462,378. Cherry Creek North, another neighborhood known for its high-end lifestyle and listings, experienced a 25.9% increase in average sale price through Q2 of this year, making the average sale price $2,429,726 for local luxury homes.

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 July 5, 2022. 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 June

2021

2022

% Change

# of Properties Sold

1,003

1,235

23.1%

Average Price Per Square Foot

$594

$688

15.9%

36

16

-55.6%

$9,000,000

$9,000,000

0.0%

Average List Price

$1,584,247

$1,574,855

-0.6%

Average Sale Price

$1,607,660

$1,647,666

2.5%

101.2%

106.2%

4.9%

$1,612,482,782

$2,034,868,098

26.2%

Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

BOW MAR/BOW MAR SOUTH

BONNIE BRAE/BELCARO

Boundaries: City of Denver

4

30.3%

The average price per square foot in Bonnie Brae/Belcaro increased by 30.3% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

30

29

-3.3%

$658

$858

30.3%

24

11

-54.2%

$4,895,000

$7,000,000

43.0%

Average List Price

$2,115,000

$2,243,679

6.1%

Average Sale Price

$2,154,335

$2,325,770

8.0%

102.1%

107.1%

4.9%

$64,630,050

$67,447,325

4.4%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Boundaries: Mississippi to Cherry Creek Drive South; University to Colorado

67.5%

The total dollar volume in Bow Mar/ Bow Mar South increased by 67.5% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

6

11

83.3%

$653

$760

16.4%

24

21

-12.5%

Highest Price

$5,400,000

$5,350,000

-0.9%

Average List Price

$2,505,833

$2,173,682

-13.3%

Average Sale Price

$2,522,833

$2,304,864

-8.6%

101.2%

104.6%

3.3%

$15,137,000

$25,353,500

67.5%

# 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

2021

2022

% Change

60

64

6.7%

$738

$899

21.8%

47

20

-57.4%

$4,000,000

$9,000,000

125.0%

Average List Price

$1,963,352

$2,501,460

27.4%

Average Sale Price

$1,930,647

$2,429,726

25.9%

96.6%

100.3%

3.8%

$115,838,800

$155,502,475

34.2%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

25.9% The average sale price in Cherry Creek North increased by 25.9% in the first half of 2022 compared to that of 2021.

Boundaries: York to Colorado; 1st Avenue to 6th Avenue

2021

2022

% Change

35

20

-42.9%

$684

$834

22.0%

63

31

-50.8%

$7,850,000

$13,000,000

65.6%

Average List Price

$4,010,114

$4,544,000

13.3%

Average Sale Price

$4,016,793

$4,555,000

13.4%

101.1%

100.4%

-0.8%

$140,587,739

$91,100,000

-35.2%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

(Over 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou

2021

2022

% Change

28

27

-3.6%

$603

$785

30.0%

33

4

-87.9%

Highest Price

$5,000,000

$7,100,000

42.0%

Average List Price

$2,648,000

$3,018,185

14.0%

Average Sale Price

$2,710,839

$3,346,885

23.5%

100.5%

111.9%

11.4%

$75,903,500

$90,365,905

19.1%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

(Under 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou

The average number of days on market in Cherry Hills Village (over 1 acre) decreased by 50.8% in the first half of 2022 compared to that of 2021.

CHERRY HILLS VILLAGE

January through June

50.8%

CHERRY HILLS VILLAGE

January through June

CHERRY CREEK NORTH

January through June

5

COLUMBINE VALLEY

40.0% The average number of days on market in Columbine Valley decreased by 40.0% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

16

8

-50.0%

$531

$574

8.1%

20

12

-40.0%

$3,500,000

$2,925,000

-16.4%

Average List Price

$1,891,727

$2,039,125

7.8%

Average Sale Price

$1,914,546

$2,054,750

7.3%

101.5%

97.9%

-3.5%

$30,632,737

$16,438,000

-46.3%

# 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 June

2021

2022

% Change

20

11

-45.0%

$760

$827

8.9%

76

13

-82.9%

Highest Price

$6,075,000

$3,900,000

-35.8%

Average List Price

$3,382,200

$2,590,455

-23.4%

Average Sale Price

$3,371,782

$2,542,180

-24.6%

97.9%

95.6%

-2.3%

$67,435,633

$27,963,975

-58.5%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

Boundaries: University to Downing 1 - 4 ; Race to University 4th - 6th

CRESTMOOR

st

54.5%

The total dollar volume in Crestmoor increased by 54.5% in the first half of 2022 compared to that of 2021.

January through June

th

2021

2022

% Change

10

12

20.0%

$544

$721

32.4%

7

5

-28.6%

Highest Price

$2,820,000

$4,250,000

50.7%

Average List Price

$1,564,300

$2,048,455

31.0%

Average Sale Price

$1,620,700

$2,086,708

28.8%

102.6%

109.6%

6.8%

$16,207,000

$25,040,500

54.5%

# 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

2021

2022

% Change

25

20

-20.0%

$460

$620

34.8%

23

5

-78.3%

$2,230,000

$2,522,340

13.1%

Average List Price

$1,535,780

$1,753,700

14.2%

Average Sale Price

$1,545,340

$1,901,092

23.0%

99.8%

109.2%

9.4%

$38,633,500

$38,021,840

-1.6%

# 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 June

Boundaries: I-25 to Havana; Belleview to Orchard

2021

2022

% Change

11

7

-36.4%

$550

$766

39.4%

34

65

91.2%

Highest Price

$5,425,000

$5,950,000

9.7%

Average List Price

$3,289,818

$3,656,429

11.1%

Average Sale Price

$3,184,455

$3,644,643

14.5%

97.5%

95.6%

-1.9%

$35,029,000

$25,512,500

-27.2%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

39.4% The average price per square foot in Greenwood Village West (over 1 acre) increased by 39.4% in the first half of 2022 compared to that of 2021.

(Over 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25

2021

2022

% Change

35

32

-8.6%

$578

$638

10.5%

21

10

-52.4%

$3,600,000

$6,725,000

86.8%

Average List Price

$2,226,714

$2,370,871

6.5%

Average Sale Price

$2,271,237

$2,440,503

7.5%

101.9%

104.7%

2.8%

$79,493,290

$78,096,088

-1.8%

# 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: Orchard to Belleview; Clarkson to I-25

52.4%

The average number of days on market in Greenwood Village West (under 1 acre) decreased by 52.4% in the first half of 2022 compared to that of 2021.

GREENWOOD VILLAGE WEST

January through June

GREENWOOD VILLAGE WEST

January through June

7

January through June

2021

2022

% Change

46

42

-8.7%

$589

$747

26.8%

28

6

-78.6%

$4,500,000

$8,000,000

77.8%

Average List Price

$1,950,717

$2,405,244

23.3%

Average Sale Price

$1,957,293

$2,462,378

25.8%

99.0%

104.5%

5.5%

$90,035,474

$103,419,884

14.9%

# of Properties Sold

HILLTOP

Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

KEN CARYL NORTH RANCH

HUNTINGTON TRAILS/LEXINGTON

Boundaries: Alameda to 6th; Colorado to Holly

8

43.4% The average sale price in Huntington Trails/Lexington increased by 43.4% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

9

6

-33.3%

$319

$511

60.4%

84

3

-96.4%

Highest Price

$1,807,500

$3,000,000

66.0%

Average List Price

$1,333,222

$1,734,667

30.1%

Average Sale Price

$1,341,056

$1,922,833

43.4%

101.7%

110.3%

8.4%

$11,537,000

-4.4%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price

$12,069,500

Total Dollar Volume

Boundaries: Lexington Place to 144 Avenue; McKay Lake to Huron Street th

11.4%

The average price per square foot in Ken Caryl North Ranch increased by 11.4% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

12

6

-50.0%

$401

$447

11.4%

7

3

-57.1%

$1,820,000

$2,127,500

16.9%

Average List Price

$1,487,417

$1,670,833

12.3%

Average Sale Price

$1,527,500

$1,772,250

16.0%

102.4%

107.0%

4.5%

$18,330,000

$10,633,500

-42.0%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Boundaries: Red Fox Lane to North Ranch Road; Golden Eagle Road to Blue Grouse Ridge Road

2021

2022

% Change

45

32

-28.9%

$512

$600

17.2%

17

7

-58.8%

Highest Price

$1,895,000

$2,430,000

28.2%

Average List Price

$1,282,653

$1,420,868

10.8%

Average Sale Price

$1,306,108

$1,508,849

15.5%

101.4%

106.3%

4.8%

$58,774,860

$48,283,160

-17.9%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

58.8%

The average number of days on market in Mayfair/Montclair decreased by 58.8% in the first half of 2022 compared to that of 2021.

Boundaries: Colorado to Quebec; 6th to Colfax

2021

2022

% Change

40

27

-32.5%

$567

$680

19.8%

46

18

-60.9%

Highest Price

$3,757,900

$4,200,000

11.8%

Average List Price

$2,092,593

$2,419,776

15.6%

Average Sale Price

$2,078,715

$2,462,299

18.5%

97.5%

101.7%

4.4%

$83,148,615

$66,482,084

-20.0%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

OBSERVATORY PARK

January through June

Boundaries: University to Colorado; Evans to Yale

January through June

2022

% Change

5

1

-80.0%

$499

$627

25.8%

60

3

-95.0%

$3,900,000

$2,315,000

-40.6%

Average List Price

$3,117,000

$2,300,000

-26.2%

Average Sale Price

$2,875,000

$2,315,000

-19.5%

94.9%

100.7%

6.0%

$14,375,000

$2,315,000

-83.9%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% 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

95.0%

The average number of days on market in Polo Reserve decreased by 95.0% in the first half of 2022 compared to that of 2021.

POLO RESERVE

2021

MAYFAIR/MONTCLAIR

January through June

9

SPRUCE MEADOWS WASHINGTON PARK EAST/CENTRAL

10

46.2% The average number of days on market in Spruce Meadows decreased by 46.2% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

5

2

-60.0%

$551

$645

16.9%

13

7

-46.2%

$2,350,000

$3,925,000

67.0%

Average List Price

$1,917,000

$3,200,000

66.9%

Average Sale Price

$1,929,000

$3,337,500

73.0%

101.1%

103.5%

2.5%

$9,645,000

$6,675,000

-30.8%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Boundaries: Federal Blvd to Zuni Street; High Prairie Way to 156th Avenue

January through June

2021

2022

% Change

72

78

8.3%

$739

$907

22.7%

24

20

-16.7%

$4,375,000

$4,250,000

-2.9%

Average List Price

$1,887,084

$2,032,306

7.7%

Average Sale Price

$1,930,817

$2,129,642

10.3%

102.1%

105.4%

3.3%

$139,018,856

$166,112,071

19.5%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Boundaries: Louisiana to Ellsworth, Ogden to University

SOUTH METRO LUXURY MARKET Just outside of Denver, the South Metro community offers additional space, affordability, and lifestyle changes that have made it an increasingly popular destination for luxury homebuying over the years. Collectively, South Metro saw a 26.2% increase in the number of luxury properties sold and a 2.0% increase in average SOUTH METRO sale prices. These metrics are positive indicators of the market’s strength and the continued January through June 2021 2022 % Change demand for the lifestyle that this community # of Properties Sold 520 656 26.2% affords its residents. $427

$467

9.4%

38

18

-52.6%

$4,350,000

$8,040,000

84.8%

Average List Price

$1,491,735

$1,485,038

-0.4%

Average Sale Price

$1,498,977

$1,528,489

2.0%

100.5%

103.5%

3.0%

$779,468,010

$1,002,689,057

28.6%

Average Price Per Square Foot

The Village at Castle Pines experienced a 1.9% rise in luxury home sales, growing from 52 properties sold through June of 2021 to 53 properties sold through June of this year. Backcountry had the second highest number of luxury home sales, reaching a total of 32 homes sold.

Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Douglas County

Several communities saw home prices rise due to the sustained demand for local real estate. The most significant increase in sale prices was seen in Heritage Estates where the average sale price was $2,598,275.

This 45.2% increase in average sale price was influenced by an impressive $3,094,824 sale which was 47.4% higher than the most expensive sale from January through June of 2021. In Heritage Hills, luxury homes sold for an average price of $1,507,196 – 7.6% higher than the same period last year.

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 July 5, 2022.

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

19.6%

The average price per square foot in Backcountry increased by 19.6% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

58

32

-44.8%

$431

$515

19.6%

8

6

-25.0%

$2,725,000

$4,400,000

61.5%

Average List Price

$1,471,231

$1,784,475

21.3%

Average Sale Price

$1,482,224

$1,834,966

23.8%

100.2%

102.5%

2.3%

$85,969,000

$58,718,900

-31.7%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

HERITAGE ESTATES

FALCON HILLS

Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct

12

6.8%

The average price per square foot in Falcon Hills increased by 6.8% in the first quarter of 2022 compared to that of 2021.

January through June

2021

2022

% Change

2

3

50.0%

$342

$479

40.0%

53

5

-90.6%

Highest Price

$1,650,000

$2,605,000

57.9%

Average List Price

$1,349,750

$1,948,333

44.3%

Average Sale Price

$1,437,500

$2,076,667

44.5%

104.3%

105.4%

1.0%

$2,875,000

$6,230,000

116.7%

2021

2022

% Change

7

3

-57.1%

$442

$562

27.2%

87

13

-85.1%

$2,100,000

$3,094,824

47.4%

Average List Price

$1,756,857

$2,658,333

51.3%

Average Sale Price

$1,789,286

$2,598,275

45.2%

99.3%

100.1%

0.8%

$12,525,000

$7,794,824

-37.8%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

85.1%

The average number of days on market in Heritage Estates decreased by 85.1% in the first half of 2022 compared to that of 2021.

January through June # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

2021

2022

% Change

25

17

-32.0%

$389

$445

14.6%

51

11

-78.4%

$2,045,000

$2,055,000

0.5%

Average List Price

$1,395,796

$1,492,066

6.9%

Average Sale Price

$1,400,480

$1,507,196

7.6%

99.4%

99.7%

0.3%

$35,012,000

$25,622,328

-26.8%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

January through June

2022

% Change

11

10

-9.1%

$464

$501

7.9%

13

15

15.4%

$2,250,000

$2,892,000

28.5%

Average List Price

$1,495,663

$1,811,665

21.1%

Average Sale Price

$1,496,364

$1,841,162

23.0%

99.1%

99.6%

0.4%

$16,460,000

$18,411,624

11.9%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

23.0%

The average sales price in Keene Ranch increased by 23.0% in the first half of 2022 compared to that of 2021.

KEENE RANCH

2021

HERITAGE HILLS

January through June

Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road

January through June

2022

% Change

11

11

0.0%

$719

$903

25.6%

135

75

-44.4%

Highest Price

$4,100,000

$3,250,000

-20.7%

Average List Price

$2,608,818

$2,451,636

-6.0%

Average Sale Price

$2,523,818

$2,440,906

-3.3%

95.7%

102.0%

6.5%

$27,762,000

$26,849,970

-3.3%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

44.4% The average days on market in Ravenna decreased by 44.4% in the first half of 2022 compared to that of 2021.

RAVENNA

2021

Boundaries: Colorado to Quebec; 6th to Colfax

13

SPIRIT RIDGE

97.7%

The average number of days on market in Spirit Ridge decreased by 97.7% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

5

1

-80.0%

$338

$369

9.0%

214

5

-97.7%

$1,900,000

$1,460,000

-23.2%

Average List Price

$1,518,498

$1,460,000

-3.9%

Average Sale Price

$1,475,000

$1,460,000

-1.0%

91.7%

100.0%

9.1%

$7,375,000

$1,460,000

-80.2%

# of Properties Sold Average Price Per Square Foot 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 June

2021

2022

% Change

52

53

1.9%

$497

$579

16.6%

42

25

-40.5%

Highest Price

$4,075,000

$3,800,000

-6.7%

Average List Price

$1,833,056

$1,912,449

4.3%

Average Sale Price

$1,831,350

$1,940,020

5.9%

100.3%

102.3%

2.0%

$95,230,206

$102,821,080

8.0%

# 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 The Foothills, a community beloved for its nearness to nature and captivating views of the Front Range, saw significant increases in its market performance through Q2 of this year. The number of luxury listings sold through June compared to the same period in 2021 grew by 61.5%, totaling 646 luxury homes sold. The average sold price for homes in this area had a slight increase of 1.8% to reach an average price of FOOTHILLS $1,474,046. Thanks to these increases, the total dollar volume sold rose by 56.6%, bringing the January through June 2021 2022 % Change total to $952,233,962 so far this year. # of Properties Sold

Out of the six luxury neighborhoods within the Foothills region, Genesee had the most luxury real estate sales, totaling 16 homes sold. Following close behind it, Ridge at Hiwan had 14 high-end home sales.

Average Price Per Square Foot Average Days on Market

400

646

61.5%

$448

$539

20.3%

28

23

-17.9%

$5,440,000

$6,400,000

17.6%

Average List Price

$1,429,824

$1,361,102

-4.8%

Average Sale Price

$1,448,560

$1,474,046

1.8%

101.7%

104.1%

2.4%

Highest Price

% Sold Price to List Price

Average prices in some communities also saw Total Dollar Volume $608,201,902 $952,233,962 56.6% increases thus far in 2022. For example, luxury Jefferson County homes within Soda Creek increased in average sale price by 22.8%, bringing the price to $2,822,125. The Ridge at Hiwan increased in average sale price by 19.0%, bringing the price to $1,684,589.

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 July 5, 2022.

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 June

2021

2022

% Change

12

16

33.3%

$444

$570

28.4%

24

25

4.2%

Highest Price

$1,870,000

$2,655,000

42.0%

Average List Price

$1,382,667

$1,792,744

29.7%

Average Sale Price

$1,392,608

$1,761,505

26.5%

100.1%

98.5%

-1.5%

$16,711,300

$28,184,080

68.7%

# of Properties Sold

GENESEE

Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

RIDGE AT HIWAN

HANGEN RANCH

Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct

16

93.2%

The highest priced sale in Hangen Ranch increased by 93.2% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

1

2

100.0%

$787

$745

-5.4%

6

5

-16.7%

$1,100,000

$2,125,000

93.2%

$975,000

$1,500,000

53.8%

$1,100,000

$2,050,000

86.4%

112.8%

141.7%

25.6%

$1,100,000

$4,100,000

272.7%

2021

2022

% Change

14

14

0.0%

$430

$489

13.8%

8

9

12.5%

Highest Price

$1,880,000

$2,050,000

9.0%

Average List Price

$1,364,086

$1,696,071

24.3%

Average Sale Price

$1,416,086

$1,684,589

19.0%

103.8%

99.3%

-4.3%

$19,825,000

$23,584,241

19.0%

# of Properties Sold 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

19.0%

The average sales price in Ridge at Hiwan increased by 19.0% in the first half of 2022 compared to that of 2021.

January through June # of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

January through June

2

3

50.0%

$296

$471

59.0%

165

4

-97.6%

Highest Price

$1,850,000

$1,510,000

-18.4%

Average List Price

$1,562,500

$1,301,667

-16.7%

Average Sale Price

$1,500,000

$1,356,667

-9.6%

94.2%

104.2%

10.6%

$3,000,000

$4,070,000

35.7%

2021

2022

% Change

7

4

-42.9%

$482

$535

10.9%

41

39

-4.9%

Highest Price

$4,775,150

$4,598,500

-3.7%

Average List Price

$2,385,571

$2,685,000

12.6%

Average Sale Price

$2,297,450

$2,822,125

22.8%

97.8%

101.6%

3.8%

$16,082,150

$11,288,500

-29.8%

2021

2022

% Change

1

1

0.0%

$703

$564

-19.7%

11

14

27.3%

Highest Price

$2,495,000

$2,200,000

-11.8%

Average List Price

$2,495,000

$2,200,000

-11.8%

Average Sale Price

$2,495,000

$2,200,000

-11.8%

100.0%

100.0%

0.0%

$2,495,000

$2,200,000

-11.8%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

January through June # of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

January through June # of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

35.7%

The total dollar volume in Riva Chase increased by 35.7% in the first half of 2022 compared to that of 2021.

SPRING RANCH

% Change

SODA CREEK

2022

RIVA CHASE

2021

17

BOULDER

LUXURY MARKET

With bountiful entertainment and recreation options set against the picture-perfect views of the Rocky Mountains, Boulder is a haven for those looking for luxury living in Colorado. This collection of neighborhoods features luxury real estate that captivates buyers from all over.

As a whole, the communities within Boulder County saw a 6.9% increase in the number of luxury properties sold through June of this year compared to the same time frame in 2021. The price for luxury homes remained almost consistent with year-ago levels, decreasing by just 0.9% to make the average sale price $1,791,737. The total dollar volume sold in the Boulder County region at the halfway mark for the year was $1,168,212,627 – a 5.9% increase from the same period the year prior.

BOULDER January through June # of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume

2021

2022

% Change

610

652

6.9%

77

59

-23.4%

$7,900,000

$10,000,000

26.6%

$1,808,216

$1,791,737

-0.9%

100.3%

103.5%

3.2%

$1,103,011,876

$1,168,212,627

5.9%

Boulder County

Downtown Boulder experienced one of the largest increases in luxury properties sold through June. This lively community saw a 33.3% increase in luxury homes sold, growing from 15 homes sold through Q2 in 2021 to 20 homes sold through Q2 of this year. Boulder’s Foothill Communities, which includes Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, and Eldorado Springs, had the most luxury home sales through June, with 367 luxury properties sold.

Luxury listings in the University Hill & Chautauqua neighborhood appreciated the most through the first half of this year compared to the same time frame last year. High-end homes in this area rose in average sold price by 16.7%, making the average price for luxury homes $2,395,966.

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 July 5, 2022.

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

2022

% Change

450

419

-6.9%

76

64

-15.8%

$7,900,000

$6,875,000

-13.0%

$1,872,572

$1,929,038

3.0%

100.5%

103.4%

2.9%

$842,657,316

$808,267,003

-4.1%

2021

2022

% Change

123

132

7.3%

85

61

-28.2%

Highest Price

$6,650,000

$10,000,000

50.4%

Average Sale Price

$1,803,992

$1,787,060

-0.9%

98.5%

102.0%

3.6%

$221,891,005

$235,891,983

6.3%

# of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume

January through June # of Properties Sold Average Days on Market

% Sold Price to List Price Total Dollar Volume

Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills

# of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume

2021

2022

% Change

15

20

33.3%

108

322

198.1%

$6,200,000

$3,800,000

-38.7%

$1,917,667

$2,513,079

31.0%

96.7%

101.4%

4.9%

$28,765,000

$50,261,576

74.7%

The number of homes sold in Boulder County Plains increased by 7.3% in the first half of 2022 compared to that of 2021.

DOWNTOWN BOULDER

January through June

7.3%

BOULDER COUNTY PLAINS

2021

BOULDER (CITY)

January through June

19

FOOTHILLS COMMUNITIES UNIVERSITY HILL & CHAUTAUQUA 20

13.0%

The average number of days on market in the Foothills Communities decreased by 13.0% in the first half of 2022 compared to that of 2021.

January through June # of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume

2021

2022

% Change

405

367

-9.4%

77

67

-13.0%

$7,900,000

$6,875,000

-13.0%

$1,909,674

$1,909,389

0.0%

100.2%

102.9%

2.7%

$773,417,982

$700,745,632

-9.4%

Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs

January through June

2021

2022

% Change

# of Properties Sold

59

42

-28.8%

Average Days on Market

79

47

-40.5%

Highest Price

$6,500,000

$6,875,000

5.8%

Average Sale Price

$2,053,853

$2,395,966

16.7%

99.7%

100.2%

0.5%

$121,177,321

$100,630,590

-17.0%

% Sold Price to List Price Total Dollar Volume

COLORADO SPRINGS LUXURY MARKET South of Denver lies Colorado’s second-largest city, Colorado Springs. This community has become one of the most popular destinations to buy and sell homes in the state. Here, residents enjoy metropolitan amenities, outdoor spaces, and gorgeous homes but with a tight-knit community feel. Throughout the year, Colorado Springs has maintained its reputation as a top priority for those looking to buy and sell luxury real estate.

When looking at the luxury market within El Paso and Teller County through Q2 of 2022, it is evident that the demand for homes in the area has maintained a positive growth rate over the past few years. The number of luxury homes sold through June increased by 44.6% compared to the same time frame last year.

Luxury home prices decreased by 0.4% to reach an average price of $1,406,180. The increase in sold listings resulted in a 44% increase in the overall total dollar volume sold, bringing the total to $374,043,880.

COLORADO SPRINGS January through June Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price

2021

2022

% Change

184

266

44.6%

$255

$280

9.8%

52

38

-26.9%

$3,800,000

$4,390,265

15.5%

$1,634,866

$1,496,099

-8.5%

Average Sales Price $1,412,027 $1,406,180 -0.4% The majority of luxury neighborhoods within Colorado % Sold Price to List Price 98.8% 101.0% 2.2% Springs saw the number of homes sold increase through June of this year compared to the same time Total Dollar Volume $259,812,968 $374,043,880 44.0% frame in 2021. The most notable increase in luxury El Paso County & Teller County properties sold was seen in Monument. Here, there were 88 listings sold through Q2 of 2022 compared to 46 homes sold through Q2 of 2021 – a 91.3% increase. Kissing Camels also saw an impressive increase in luxury home sales, rising by 83.3% with a total of 11 homes sold so far this year.

Many communities also saw appreciating average sale prices. Black Forest saw average home prices rise by 9.3%, reaching an average price of $1,493,950. Buyers looking for more affordability within Colorado Springs’ luxury market may find success in the Flying Horse neighborhood where average sale prices were $1,225,632 – a 21% decrease from the same period last year. Conversely, Kissing Camels had the highest average sale price for the area with an average sale price of $1,914,352.

Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2022 through July 5, 2022. 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

BLACK FOREST BROADMOOR FLYING HORSE 22

73.6%

The total dollar volume in Black Forest increased by 73.6% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

34

54

58.8%

$266

$292

9.8%

29

47

62.1%

$2,650,000

$3,200,000

20.8%

Average List Price

$1,540,767

$1,545,305

0.3%

Average Sales Price

$1,367,128

$1,493,950

9.3%

99.3%

100.1%

0.8%

$46,482,352

$80,673,300

73.6%

2021

2022

% Change

50

47

-6.0%

$264

$251

-4.9%

60

60

0.0%

$3,800,000

$3,500,000

-7.9%

Average List Price

$1,990,419

$1,833,371

-7.9%

Average Sales Price

$1,541,010

$1,540,096

-0.1%

97.1%

98.3%

1.2%

$77,050,500

$72,384,512

-6.1%

2021

2022

% Change

18

23

27.8%

$274

$253

-7.7%

33

27

-18.2%

$3,800,000

$2,100,000

-44.7%

Average List Price

$1,636,198

$1,431,560

-12.5%

Average Sales Price

$1,551,314

$1,225,632

-21.0%

100.7%

100.9%

0.2%

$27,923,652

$28,189,536

1.0%

Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

191.4%

The total dollar volume in Broadmoor increased by 191.4% in the first quarter of 2022 compared to that of 2021.

January through June Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

18.2%

The average number of days on market in Flying Horse decreased by 18.2% in the first half of 2022 compared to that of 2021.

January through June Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

2022

% Change

6

11

83.3%

$232

$476

105.2%

50

82

64.0%

Highest Price

$1,800,000

$4,390,265

143.9%

Average List Price

$1,665,558

$1,472,527

-11.6%

Average Sales Price

$1,296,983

$1,914,352

47.6%

101.2%

113.0%

11.7%

$7,781,898

$21,057,872

170.6%

2021

2022

% Change

46

88

91.3%

$222

$264

18.9%

22

18

-18.2%

$1,590,000

$3,200,000

101.3%

$1,356,722

$1,466,628

8.1%

$1,217,911

$1,341,475

10.1%

100.8%

101.9%

1.1%

$56,023,906

$118,049,800

110.7%

Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

January through June Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price Average Sales Price % Sold Price to List Price Total Dollar Volume

10.1%

The average sales price in Monument increased by 10.1% in the first half of 2022 compared to that of 2021.

MONUMENT

2021

KISSING CAMELS

January through June

23

GRAND COUNTY LUXURY MARKET Encompassing 1,868 square miles of rolling meadows, river valleys, and spectacular mountains, Grand County is a community that offers residents an unbeatable lifestyle amidst nature’s beauty. The luxury real estate market in this special community experienced a 52.7% boost in the number of properties sold through June of this year in comparison to the same time frame last year. Additionally, the average sale price of those luxury homes sold rose to $1,640,728 – 3.4% higher than the previous year. Combined, those rising metrics resulted in a 57.9% rise in total dollar volume sold, which totaled $185,402,287 through Q2.

GRAND COUNTY

In the town of Winter Park, luxury single family home sales increased by 125%, rising from four homes sold through June 2021 to nine homes sold through June 2022. Granby also experienced a notable rise in luxury homebuying activity, with property sales increasing by 115.4%. Here, there were the most luxury real estate sales within Grand County for Q2 with a total of 28 properties sold so far this year.

January through June

2021

2022

% Change

74

113

52.7%

120

129

7.5%

$4,600,000

$8,370,000

82.0%

Average List Price

$1,608,874

$1,629,439

1.3%

Average Sale Price

$1,586,771

$1,640,728

3.4%

99.6%

102.3%

2.6%

$117,421,055

$185,402,287

57.9%

# of Properties Sold Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

The Winter Park community also saw luxury single-family home prices appreciate through Q2, rising by 12.9% to $2,042,045. A few communities within the Grand County area saw significant sales that help illustrate the strong demand for high-end homes in this region. For example, in Tabernash, there was a $5,850,000 sale during the first two quarters of the year which is 67.1% higher than the highest-priced sale during the same period last year. The highest-priced sale in the region was recorded in Kremmling, where an $8,370,000 sale was closed earlier this year.

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 July 5, 2022. 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 June

2022

% Change

11

21

90.9%

141

165

17.0%

Highest Price

$4,100,000

$3,970,000

-3.2%

Average List Price

$2,019,264

$1,796,079

-11.1%

Average Sale Price

$1,978,550

$1,805,575

-8.7%

99.7%

102.0%

2.3%

$21,764,052

$37,917,077

74.2%

# of Properties Sold Average Days on Market

% Sold Price to List Price Total Dollar Volume

74.2% The total dollar volume in Fraser increased by 74.2% in the first half of 2022 compared to that of 2021.

FRASER

2021

Single Family Homes

January through June

2022

% Change

# of Properties Sold

13

28

115.4%

Average Days on Market

61

75

23.0%

Highest Price

$1,750,000

$2,025,000

15.7%

Average List Price

$1,340,385

$1,310,143

-2.3%

Average Sale Price

$1,318,038

$1,341,021

1.7%

98.4%

102.6%

4.3%

$17,134,500

$37,548,605

119.1%

% Sold Price to List Price Total Dollar Volume

115.4% The numbers of properties sold in Granby increased by 115.4% in the first half of 2022 compared to that of 2021.

GRANBY

2021

Single Family Homes

January through June

2022

% Change

# of Properties Sold

16

12

-25.0%

Average Days on Market

95

112

17.9%

$4,600,000

$2,750,000

-40.2%

Average List Price

$1,713,063

$1,652,500

-3.5%

Average Sale Price

$1,702,328

$1,623,687

-4.6%

99.5%

97.5%

-2.0%

$27,237,250

$19,484,250

-28.5%

Highest Price

% Sold Price to List Price Total Dollar Volume

Single Family Homes

GRAND LAKE

2021

25

KREMMLING

71.9% The average days on market in Kremmling decreased by 71.9% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

3

2

-33.3%

449

126

-71.9%

Highest Price

$1,225,000

$8,370,000

583.3%

Average List Price

$1,276,667

$5,729,500

348.8%

Average Sale Price

$1,150,000

$4,785,000

316.1%

90.9%

83.0%

-8.7%

$3,450,000

$9,570,000

177.4%

# of Properties Sold Average Days on Market

% Sold Price to List Price Total Dollar Volume

Single Family Homes

TABERNASH

January through June

2021

2022

% Change

12

12

0.0%

134

70

-47.8%

$3,500,000

$5,850,000

67.1%

Average List Price

$1,744,900

$2,059,333

18.0%

Average Sale Price

$1,747,375

$2,088,420

19.5%

101.6%

104.2%

2.5%

$20,968,500

$25,061,050

19.5%

# of Properties Sold Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

WINTER PARK

Single Family Homes

12.9%

The average sales price in Winter Park increased by 12.9% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

4

9

125.0%

53

366

590.6%

$2,646,000

$3,775,000

42.7%

Average List Price

$1,977,500

$1,929,556

-2.4%

Average Sale Price

$1,808,375

$2,042,045

12.9%

94.7%

104.9%

10.7%

$7,233,500

$18,378,413

154.1%

# of Properties Sold Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Single Family Homes

26

SUMMIT COUNTY LUXURY MARKET Summit County, home to some of the most amazing resort towns and mountain communities in Colorado, has much to offer consumers hoping to reach their real estate and lifestyle goals. From world-class skiing to breathtaking views, there are plenty of reasons to want to live in any of the amazing areas within Summit County.

Overall, Summit County has seen a 34.1% increase in the number of luxury homes sold through June of this year compared to the same period in 2021.

High-end homes here had a small decrease in price by 3.3%, bringing the average sold price to $3,035,509 at the halfway point of the year. Despite the decrease in average sales price, the total sales volume for the area increased significantly by 29.7% to reach a total of $370,332,074.

SUMMIT COUNTY January through June

2021

2022

% Change

91

122

34.1%

$735

$823

12.0%

63

31

-50.8%

$17,000,000

$12,200,000

-28.2%

Average List Price

$3,228,090

$3,086,221

-4.4%

Average Sale Price

$3,138,240

$3,035,509

-3.3%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

Out of Summit County’s luxury communities, % Sold Price to List Price 97.9% 99.4% 1.6% Copper Mountain and Keystone saw the most Total Dollar Volume $285,579,865 $370,332,074 29.7% significant increases in single-family home sales through Q2. In Copper Mountain, the number of homes sold rose by 300%, from one home sold through June of 2021 to four homes sold through June of this year. The most luxury home sales within Summit County were recorded in Breckenridge, with 50 homes sold so far this year.

The average sales price for most Summit County luxury communities sat above $3,000,000 for the first two quarters of the year. In Copper Mountain, the average sale price for a luxury home was $3,982,769 – a 3.4% increase from the same period last year and the highest average price for all neighborhoods included in Summit County. High-end homes in Breckenridge and Keystone sold for average prices of $3,380,278 and $3,111,429 respectively.

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 July 5, 2022. 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 June

2021

2022

% Change

50

50

0.0%

$697

$838

20.2%

79

30

-62.0%

$17,000,000

$12,200,000

-28.2%

Average List Price

$3,641,040

$3,468,220

-4.7%

Average Sale Price

$3,526,413

$3,380,278

-4.1%

97.5%

98.9%

1.4%

$176,320,650

$169,013,890

-4.1%

# 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

26.5% The average price per square foot in Copper Mountain increased by 26.5% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

1

4

300.0%

$605

$766

26.5%

4

13

225.0%

Highest Price

$3,850,000

$5,431,074

41.1%

Average List Price

$3,995,000

$4,020,268

0.6%

Average Sale Price

$3,850,000

$3,982,769

3.4%

96.4%

99.0%

2.7%

$3,850,000

$15,931,074

313.8%

# 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 June

2021

2022

% Change

5

7

40.0%

$577

$715

23.9%

82

9

-89.0%

Highest Price

$4,025,000

$4,375,000

8.7%

Average List Price

$2,933,000

$3,116,143

6.2%

Average Sale Price

$2,836,000

$3,111,429

9.7%

96.4%

99.8%

3.5%

$14,180,000

$21,780,000

53.6%

KEYSTONE

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

Single Family Homes

28

CRESTED BUTTE LUXURY MARKET For those who are looking for a small town feel with the benefit of incredible scenery, skiing, and luxury homes, Crested Butte is the place to live. As the market has begun to change this year, Crested Butte has seen a slight downturn in the number of luxury properties sold through June of this year. At the halfway mark for the year, there were 18 luxury home sales – 14.3% less than this period last year. The average price for those listings sold rose by 11.9% to reach an average sale price of $3,318,933.

Looking at the average price for local luxury residences, similar trends can be observed. The Town of Crested Butte saw a decrease in the number of luxury listings sold in comparison to the red-hot market that this area had CRESTED BUTTE last year. In the Town of Crested Butte, there were 11 sales through June of this year, which is 26.7% fewer January through June 2021 2022 % Change than the previous year. In the Rural Crested Butte # of Properties Sold 21 18 -14.3% neighborhoods, there were eight luxury home sales Average Price Per Square Foot $891 $852 -4.3% so far this year compared to nine home sales during Average Days on Market 175 157 -10.3% the same period in 2021. $4,200,000

$6,792,000

61.7%

Average List Price

$3,078,476

$3,393,722

10.2%

Average Sale Price

$2,966,430

$3,318,933

11.9%

96.4%

97.8%

1.5%

$62,295,040

$59,740,800

-4.1%

Highest Price

However, both communities saw an appreciation of luxury home values and increasing average sale prices. The Town of Crested Butte and Rural Crested Butte saw average sale price increase to $3,534,381 and $3,259,775 respectively.

% Sold Price to List Price Total Dollar Volume

Gunnison County

In Mount Crested Butte, there were six luxury homes sold in the first half of 2022. Homes in this area sold for an average sale price of $2,960,433, which makes this the most affordable community to find a luxury home for those in search of their Crested Butte dream home.

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 July 5, 2022.

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

The average sale price in the Town of Crested Butte increased by 17.8% in the first half of 2022 compared to that of 2021.

RURAL CRESTED BUTTE 30

2021

2022

% Change

15

11

-26.7%

$1,013

$992

-2.1%

189

136

-28.0%

$4,200,000

$6,792,000

61.7%

Average List Price

$3,111,866

$3,620,636

16.3%

Average Sale Price

$2,999,202

$3,534,381

17.8%

96.4%

97.6%

1.3%

$44,988,040

$38,878,200

-13.6%

# 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

MT. CRESTED BUTTE

TOWN OF CRESTED BUTTE

17.8%

January through June

January through June

2021

2022

% Change

6

6

0.0%

$587

$646

10.0%

140

155

10.7%

Highest Price

$3,825,000

$3,300,000

-13.7%

Average List Price

$2,995,000

$3,044,166

1.6%

Average Sale Price

$2,884,500

$2,960,433

2.6%

96.3%

97.2%

1.0%

$17,307,000

$17,762,600

2.6%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

Single Family Homes

56.3% The average number of days on market in Rural Crested Butte decreased by 56.3% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

9

8

-11.1%

$924

$748

-19.0%

174

76

-56.3%

$4,200,000

$6,792,000

61.7%

Average List Price

$2,858,777

$3,359,625

17.5%

Average Sale Price

$2,852,115

$3,259,775

14.3%

99.8%

97.0%

-2.7%

$24,769,040

$26,078,200

5.3%

# 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

VAIL VALLEY LUXURY MARKET As home to some of Colorado’s best skiing, stunning natural spaces, and a luxury resort lifestyle, the Vail Valley is a sought-after destination to invest in primary residences and vacation houses. At the halfway point of the year, the Vail Valley saw a 7% increase in the number of luxury listings sold. Luxury homes here sold for an average price of $6,019,594. Overall, the Vail Valley experienced a 17.1% increase in the dollar volume sold, totaling $734,390,471 through June of this year.

The Vail Golf Course community saw the most dramatic increase in the number of luxury properties sold through June of this year, rising 33.3% from three homes sold through Q2 of last year to four homes sold so far this year. The Town of Vail had the most luxury homes sold overall, with a total of 50 properties sold through June—a 6.4% increase.

VAIL VALLEY January through June # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price

2021

2022

% Change

114

122

7.0%

$1,341

$1,514

12.9%

222

69

-68.9%

$34,000,000

$30,875,000

-9.2%

$5,842,895

$6,226,971

6.6%

Average Sale Price $5,499,199 $6,019,594 9.5% Average sale prices for homes in many areas of the % Sold Price to List Price 94.9% 97.6% 2.8% beloved Vail Valley also experienced upward trends Total Dollar Volume $626,908,795 $734,390,471 17.1% through the first half of the year. In the Arrowhead Eagle County neighborhood, the average sale price increased by 11.6% to reach $5,547,772 through June. Several significant sales throughout individual Vail Valley neighborhoods created more dramatic increases in average sale prices. An amazing $30,875,000 sale in Lionshead, which is 306.3% higher in price than the most expensive sale through Q2 of 2021—helped raise the average sale price for the area by 103.9%. In Mountain Star, a significant sale of $20,250,000, which is 224.0% higher in price than the most expensive sale through Q2 of 2021—helped raise the average sale price for the area by 128.7%.

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 July 5, 2022. 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

ARROWHEAD

36.4% The total dollar volume in Arrowhead increased by 36.4% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

9

11

22.2%

$725

$986

36.0%

110

98

-10.9%

$10,605,750

$7,575,000

-28.6%

Average List Price

$5,275,000

$5,611,182

6.4%

Average Sale Price

$4,971,105

$5,547,772

11.6%

94.5%

99.6%

5.4%

$44,739,950

$61,025,500

36.4%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

BEAVER CREEK

BACHELOR GULCH

All Properties

January through June

2021

2022

% Change

12

13

8.3%

$1,114

$1,380

23.9%

131

28

-78.6%

$13,500,000

$11,750,000

-13.0%

Average List Price

$7,079,583

$6,823,846

-3.6%

Average Sale Price

$6,859,479

$6,692,423

-2.4%

97.2%

97.8%

0.6%

$82,313,750

$87,001,500

5.7%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

All Properties

85.4%

The average number of days on market in Beaver Creek decreased by 85.4% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

18

18

0.0%

$1,060

$1,394

31.5%

335

49

-85.4%

$10,950,000

$10,200,000

-6.8%

Average List Price

$5,909,944

$4,578,667

-22.5%

Average Sale Price

$5,603,555

$4,459,083

-20.4%

95.6%

97.6%

2.0%

$100,864,000

$80,263,500

-20.4%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

All Properties

32

January through June

2022

% Change

47

50

6.4%

$2,042

$2,108

3.2%

273

81

-70.3%

$34,000,000

$30,875,000

-9.2%

Average List Price

$6,491,319

$7,308,290

12.6%

Average Sale Price

$6,052,799

$7,015,990

15.9%

94.4%

97.3%

3.1%

$284,481,595

$350,799,500

23.3%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

15.9%

The average sale price in the Town of Vail increased by 15.9% in the first half of 2022 compared to that of 2021.

TOWN OF VAIL

2021

All Properties

January through June

2022

% Change

22

18

-18.2%

$2,701

$2,702

0.0%

110

82

-25.5%

$34,000,000

$19,000,000

-44.1%

Average List Price

$7,707,455

$7,414,028

-3.8%

Average Sale Price

$7,230,170

$7,127,361

-1.4%

95.0%

97.3%

2.4%

$159,063,750

$128,292,500

-19.3%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

VAIL VILLAGE

2021

All Properties

January through June

2022

% Change

12

11

-8.3%

$1,802

$2,606

44.6%

409

100

-75.6%

Highest Price

$7,600,000

$30,875,000

306.3%

Average List Price

$5,302,417

$10,381,364

95.8%

Average Sale Price

$4,870,833

$9,932,272

103.9%

93.2%

96.3%

3.3%

$58,450,000

$109,255,000

86.9%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

44.6% The average price per square foot in Lionshead increased by 44.6% in the first half of 2022 compared to that of 2021.

LIONSHEAD

2021

All Properties

33

The number of properties sold in Vail Golf Course increased by 33.3% in the first half of 2022 compared to that of 2021.

MOUNTAIN STAR

2021

2022

% Change

3

4

33.3%

$1,528

$1,674

9.6%

277

172

-37.9%

$8,200,000

$15,500,000

89.0%

Average List Price

$5,581,667

$9,350,000

67.5%

Average Sale Price

$5,215,000

$8,618,750

65.3%

93.3%

94.5%

1.3%

$15,645,000

$34,475,000

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

120.4% All Properties

January through June

SPRADDLE CREEK

VAIL GOLF COURSE

33.3%

January through June

2021

2022

% Change

1

No Sales

-

$1,078

-

-

650

-

-

Highest Price

$8,100,000

-

-

Average List Price

$9,999,000

-

-

Average Sale Price

$8,100,000

-

-

81.0%

-

-

$8,100,000

-

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

All Properties

67.5% The average number of days on market in Mountain Star decreased by 67.5% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

3

3

0.0%

$592

$1,355

128.9%

625

203

-67.5%

Highest Price

$6,250,000

$20,250,000

224.0%

Average List Price

$5,580,000

$12,713,333

127.8%

Average Sale Price

$5,290,833

$12,100,000

128.7%

95.0%

94.4%

-0.7%

$15,872,500

$36,300,000

128.7%

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

All Properties

34

TELLURIDE LUXURY MARKET Overall, San Miguel County, which is home to Telluride and surrounding communities, experienced an impressive 12.5% increase in the number of luxury homes sold through June compared to the same time frame in 2021.

The average price of luxury homes also rose this year, appreciating by 1.3% to reach an average sold price of $6,288,462. Combined, these increases resulted in a 14% increase in the overall dollar volume sold, totaling $339,576,933.

Within San Miguel County, the Town of Telluride and the Surrounding Mesas community experienced increases in luxury homebuying activity through the first half of the year. In the Town of Telluride, high-end home sales rose by 72.7% from 11 homes sold at the half-way point last year to 19 homes sold so far this year. In the Surrounding Mesas, which include Deep Creek Mesa, Hastings Mesa, Iron Springs/Horsefly Mesa, Specie Mesa, Sunshine Mesa, Turkey Creek Mesa, and Wilson Mesa, there were 11 luxury home sales so far this year – a 10% increase from last year.

TELLURIDE January through June

2021

2022

% Change

48

54

12.5%

$1,234

$1,703

38.0%

352

178

-49.4%

$39,500,000

$17,100,000

-56.7%

Average List Price

$6,341,188

$6,645,926

4.8%

Average Sale Price

$6,205,500

$6,288,462

1.3%

97.9%

94.6%

-3.3%

$297,864,000

$339,576,933

14.0%

# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

San Miguel County

The most significant increase in average sales price within Telluride’s luxury real estate market was seen in Mountain Village where the average sale price rose 13.8% to $6,012,508. This community also saw an impressive $17,100,000 sale that played a role in increasing the overall average sale price for the area. This sale was the highest-priced sale in the mountain community of Telluride, which helps illustrate that luxury homes are still a top priority for homebuyers in the area.

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 July 5, 2022. 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 number of properties sold in the Town of Telluride increased by 72.7% in the first half of 2022 compared to that of 2021.

SURROUNDING MESAS 36

2021

2022

% Change

11

19

72.7%

$2,122

$2,258

6.4%

139

111

-20.1%

Highest Price

$9,550,000

$12,500,000

30.9%

Average List Price

$5,495,455

$6,008,947

9.3%

Average Sale Price

$5,438,182

$5,806,582

6.8%

99.0%

96.6%

-2.3%

$59,820,000

$110,325,058

84.4%

# 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

72.7%

January through June

January through June

2021

2022

% Change

26

25

-3.8%

$901

$1,294

43.6%

459

193

-58.0%

Highest Price

$8,100,000

$17,100,000

111.1%

Average List Price

$5,456,308

$6,153,000

12.8%

Average Sale Price

$5,282,558

$6,012,508

13.8%

96.8%

97.7%

0.9%

$137,456,500

$150,312,700

# of Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

9.4% All Properties

50.8%

The average price per square foot in the Surrounding Mesas increased by 50.8% in the first half of 2022 compared to that of 2021.

January through June

2021

2022

% Change

10

11

10.0%

$1,053

$1,588

50.8%

278

264

-5.0%

$39,500,000

$15,000,000

-62.0%

Average List Price

$8,616,300

$8,635,000

0.2%

Average Sale Price

$8,479,750

$7,521,743

-11.3%

98.4%

87.0%

-11.5%

$84,797,500

$82,739,175

-2.4%

# 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

in your happy place The definition of paradise depends on your point of view. Find a home that makes each day more extraordinary than the last with LIV Sotheby’s International Realty.

livsothebysrealty.com

37

WHY COLORADO?

04

NATIONAL PARKS

38

07

MOUNTAIN RANGES

28

SKI AREAS & RESORTS

300

AVG DAYS OF SUNSHINE ANNUALY

350+

CRAFT BREWERIES

39