Colorado Luxury Report | Quarter 3, 2022

Luxury Report

30726 Snowbird Lane, Evergreen

1090 Twisted Pine Road, Golden

REPORT

This year the real estate market throughout Colorado is experiencing a period of normalization following nearly two years of accelerated market speeds. While the most recent data paints a picture of a slowing pace of play, this deceleration is the breath of fresh air many consumers have been waiting for to finally reach their real estate goals. The luxury sector of the housing market has not been impacted by this trend to the degree that the rest of the market has experienced, which speaks to the sustained demand for homes of a certain caliber. However, market normalization is still being observed – allowing buying to make more competitive offers while sellers still benefit from a market tilted in their favor. For parties on either side of the closing table, the luxury real estate market in Colorado is still ripe with opportunities to create your dream life in your dream home.

LIV Sotheby’s International Realty produced a quarterly Residential Luxury Report, comparing January through September 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+), Colorado Springs ($1 million+), the Foothills ($1 million+), Boulder ($1 million+), the Vail Valley ($3 million+), Summit County ($2 million+), Grand County ($1 million+) Crested Butte ($2 million+), and Telluride ($3 million+).

DENVER

Luxury homes in Denver Metro offer an upscale Colorado living experience near the excitement of the city while positioning residents just a short drive from some of the state’s most amazing outdoor spaces. Overall, the six counties across Denver Metro have experienced a 17.8% increase in the number of luxury homes sold through September of 2022 compared to the same period in 2021, with 4,446 luxury homes sold. The average sale price of those luxury homes decreased by 0.8%, bringing the average price for luxury homes in the community to $1,580,388. These increases resulted in a 16.9% rise in the total dollar volume sold, totaling $7,026,404,074.

The strength of the market was seen throughout the individual neighborhoods within Denver Metro as well. In Bow Mar/Bow Mar South, there was a 137.5% increase in the number of luxury homes sold, growing from eight homes sold through Q3 of 2021 to 19 homes sold so far this year. The Mayfair/Montclair and the Greenwood Village East neighborhoods also saw notable rises in luxury home sales, increasing by 15.4% and 13.3% respectively.

As more homebuyers compete for luxury real estate in Denver Metro, an upward trend in home prices has been observed. The Washington Park East/Central neighborhood, which is popular due to its access to the park and the activities and amenities that come with it, saw an 8.9% increase in sale prices for luxury homes. From January to September of this year, the average sold price for luxury homes in this neighborhood was $2,102,664. Cherry Creek North also saw home values appreciate, rising by 13.8% to reach an average sale price of $2,264,964.

Denver Metro’s limited inventory of available luxury homes has motivated

to purchase properties more quickly than last year. For example, luxury homes in the Country Club spent an average of 13 days on the market through September –81.7% less time than the same period last year.

The

The

January

#

Average

Average

Highest

Average

Average

%

Total

January

#

Average

Average

Highest

Average

Average

%

Total

January

#

Average

Average

Highest

Average

Average

%

Total

1,569 1,715 9.3%

$601 $679 13.0%

30 17 -43.3%

$9,000,000 $9,000,000 0.0%

$1,593,774 $1,586,429 -0.5%

$1,624,566 $1,637,982 0.8%

101.3% 103.8% 2.5%

$2,548,944,449 $2,809,139,575 10.2%

Boundaries: City of Denver

41 39 -4.9%

$706 $868 23.0%

19 12 -36.8%

$5,000,000 $7,000,000 40.0%

$2,087,777 $2,337,287 12.0%

$2,164,460 $2,374,772 9.7%

103.9% 104.4% 0.5%

$88,742,850 $92,616,115 4.4%

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

19 137.5%

$687 $754 9.7%

19 24 26.3%

$5,400,000 $5,350,000 -0.9%

$2,323,125 $2,302,079 -0.9%

$2,317,125 $2,313,553 -0.2%

99.6% 99.0% -0.5%

$18,537,000 $43,957,500 137.1%

Boundaries: West Quincy Avenue to West Bowles Avenue

increased by 20.9% January through September 2022 compared to that of

52.8%

(over 1

52.8%

to that of

January through September

# of Properties Sold 27 17 -37.0%

Average Price Per Square

Average Days on

$508 $595 17.2%

15 10 -33.3%

Highest Price $3,500,000 $3,200,000 -8.6%

Average List Price $1,843,294 $2,035,887 10.4%

Average Sale Price $1,846,065 $2,052,481 11.2%

% Sold Price to

Price 100.8% 98.9% -1.9%

Total Dollar Volume $49,843,752 $34,892,169 -30.0%

Boundaries: South Polo Ridge Drive to West Bowles; Platte Canyon Road to South Platte River

January through September

Change

# of Properties Sold 22 11 -50.0%

Average Price Per Square Foot $751 $827 10.1%

Average Days on Market 71 13 -81.7%

Highest Price $6,075,000 $3,900,000 -35.8%

Average List Price $3,287,227 $2,590,455 -21.2%

Average Sale Price $3,268,665 $2,542,180 -22.2%

%

Total

Price

Price 97.7% 95.6% -2.1%

$71,910,633 $27,963,975 -61.1%

Boundaries:

-37.5%

$1,766,857

-14.0%

20.3%

(over 1

by 20.3% January

September 2022 compared to that of

(under

January through September 2022 compared to that of 2021.

by

January through September

# of

Average

Average

RANCH

78 60 -23.1%

$582 $743 27.7%

22 10 -54.5%

Highest Price $4,500,000 $8,000,000 77.8%

Average

Average

%

Total

January through September

# of

Average Price

Average Days

$1,890,037 $2,349,724 24.3%

$1,906,019 $2,391,648 25.5%

99.8% 101.8% 2.0%

$148,669,485 $143,498,884 -3.5%

Boundaries: Alameda to 6th; Colorado to Holly

10 7 -30.0%

$324 $548 68.9%

77 5 -93.5%

Highest Price $1,807,500 $3,000,000 66.0%

Average

$1,369,900 $1,901,143 38.8%

The average sold

percentage to list price in Huntington Trails/

increased by 7.2% January through September 2022 compared to that of 2021.

Average Sale

%

Total

The average number of days

$1,366,950 $2,048,143 49.8%

101.0% 108.3% 7.2%

$13,669,500 $14,337,000 4.9%

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

January

#

Average

Average

Highest

Average

Average

17 4 -76.5%

$408 $447 9.4%

8 3 -62.5%

$1,920,000 $2,127,500 10.8%

$1,533,412 $1,670,833 9.0%

$1,567,647 $1,772,250 13.1%

in Ken Caryl North

increased by 62.5% January through September 2022 compared to that of 2021.

%

Total

102.2% 107.0% 4.8%

$26,650,000 $10,633,500 -60.1%

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

33.3%

number of days

Mayfair/Montclair

through September

compared to that of

82.2%

by

through September

compared to that of

January

#

Average

Average

Highest

Average

Average

%

Total

January

# of

Average

Average

Highest

Average

Average

%

Total

5 2 -60.0%

$551 $645 16.9%

13 7 -46.2%

$2,350,000 $3,925,000 67.0%

$1,917,000 $3,200,000 66.9%

$1,929,000 $3,337,500 73.0%

100.98% 103.5% 2.5%

$9,645,000 $6,675,000 -30.8%

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

108 113 4.6%

$759 $896 18.0%

19 19 0.0%

$4,375,000 $5,450,000 24.6%

$1,866,368 $2,018,254 8.1%

$1,930,040 $2,102,664 8.9%

102.4% 103.0% 0.6%

$208,444,311 $237,601,071 14.0%

Boundaries: Louisiana to Ellsworth, Ogden to University

SOUTH METRO LUXURY

The South Metro luxury home market offers consumers more space than can typically be found near the city with just as many entertainment, outdoor activity, and shopping options. For this reason, the collection of neighborhoods that make up South Metro has become a popular place to invest in luxury properties.

Douglas County, which makes up much of the South Metro community saw a 17.9% increase in the number of luxury properties sold and a 2.6% increase in the average sold price through September of this year compared to January through September of last year. The combination of these increases resulted in a 21% increase in the total dollar volume sold within the luxury sector of the market.

Out of the eight luxury neighborhoods within the South Metro community, The Village at Castle Pines saw the most luxury home sales. Here, there were 81 homes sold during the first three quarters of the year – a 2.5% increase from the same time frame last year.

SOUTH

County

Luxury homes within the Heritage Estates neighborhood appreciated in

the most through Q3 of this year. Here, luxury homes sold for an average price of $2,577,965, a 46.6% increase from January through September of last year when the average price was $1,759,000. This drastic price increase is influenced by an impressive sale that closed for $3,094,824 earlier this year.

Heritage Hills proved to be a very popular community in the eyes of

through Q3 of 2021. Homes in this neighborhood saw a 56.4% decrease in average days on market, with most homes staying on the market for an average of just 17 days.

Based

$1,000,000+ sales in Douglas

January

# of

Average

Average

57 -23.0%

$438 $503 15.0%

8 18 125.0%

Highest Price $2,725,000 $4,400,000 61.5%

Average

Average Sale

%

Total

$1,477,815 $1,718,930 16.3%

$1,492,547 $1,727,700 15.8%

100.3% 97.9% -2.4%

$110,448,500 $98,478,900 -10.8%

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

January through

# of

Average Price

Average

2 5 150.0%

$342 $449 31.2%

53 8 -84.9%

Highest Price $1,650,000 $2,605,000 57.9%

Average

Average Sale

%

Total

January

#

Average

Highest

Average

Average

%

$1,349,750 $1,742,800 29.1%

$1,437,500 $1,787,000 24.3%

104.3% 101.0% -3.2%

$2,875,000 $8,935,000 210.8%

5 -54.5%

$553 22.7%

16 -76.1%

$2,500,000 $3,094,824 23.8%

$1,742,909 $2,694,000 54.6%

$1,759,000 $2,577,965 46.6%

100.1% 97.1% -3.0%

$19,349,000 $12,889,824 -33.4%

6.8%

September

to

September

compared to that of

The

Spirit

CASTLE

number

through September

compared to that of 2021.

January through September

# of Properties Sold 6 3 -50.0%

Average Price Per Square Foot $388 $352 -9.3%

Average Days on Market 179 98.36 -45.1%

Highest Price $2,265,000 $1,500,000 -33.8%

Average List Price $1,592,915 $1,486,666 -6.7%

Average Sale Price $1,606,667 $1,470,000 -8.5%

% Sold Price to List Price 95.6% 98.4% 2.9%

Total Dollar Volume $9,640,000 $4,410,000 -54.3%

January through September

Change

# of Properties Sold 79 81 2.5%

Average Price Per Square Foot $515 $574 11.5%

Average Days on Market 39 25 -35.9%

Highest Price $4,295,000 $4,595,000 7.0%

Average List Price $1,879,401 $1,896,392 0.9%

Average Sale Price $1,872,571 $1,898,710 1.4%

% Sold Price to List Price 100.2% 99.4% -0.7%

Total Dollar Volume $147,933,071 $153,795,480 4.0%

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 an influx of luxury real estate activity during the first three quarters of 2022. As a whole, the number of luxury listings sold through September 2022, compared to the same time period in 2021, grew by an impressive 32.9%, totaling 946 luxury homes sold. Increased demand for high-end homes in this area raised the average sale price of luxury homes from $1,451,013 through Q3 in 2021 to $1,456,271 so far this year – a 0.4% increase. This community has seen total dollar volume sold in the luxury sector of the market rise by 33.3% through September, thanks to consumers’ need for lifestyle-focused, luxury homes in the Foothills.

Genesee saw the most luxury properties sold through September of this year, totaling 22 homes sold – a 24.1% decrease. This community also saw home prices increase. Through Q3, the average sale price for local luxury homes reached $1,673,935, which is 13.2% higher than last year.

Hangen Ranch saw one of the most notable appreciations in the average sale price for luxury homes in the Foothills. Luxury single-family homes in this community increased in average sold price by 27.8%, bringing the average sold price to $1,925,000.

have seen decreases in the average

market

to the high demand for listings in the Foothills. For example, luxury homes within Spring Ranch spent an average of 14 days on the market through September of this year compared to the same time frame last year, which is a 41.7% difference.

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 September 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.

January

#

GENESEE HANGEN RANCH

The average price per square foot in Hangen Ranch increased by 19.8% January through September 2022 compared to that of 2021.

HIWAN

RIDGE

Average

Average

Highest

Average

Average

%

Total

The average price per square foot in Ridge at Hiwan increased by 16.2% January through September 2022 compared to that of 2021.

22 -24.1%

$358 7.6%

18 20 11.1%

$2,200,000 $2,655,000 20.7%

$1,456,931 $1,699,473 16.6%

$1,479,171 $1,673,935 13.2%

101.2% 98.6% -2.5%

$42,895,950 $36,826,580 -14.1%

January through September

# of

Average

Average

Highest

Average

Average

%

Total

January through September

#

Average

Average

Highest

Average

Average

%

Total

Change

4 3 -25.0%

$415 $497 19.8%

11 15 36.4%

$1,922,222 $2,125,000 10.5%

$1,477,500 $1,600,000 8.3%

$1,506,181 $1,925,000 27.8%

103.3% 120.1% 16.2%

$6,024,722 $5,775,000 -4.1%

20 -4.8%

$287 $334 16.2%

9 17 88.9%

$2,600,000 $2,050,000 -21.2%

$1,472,010 $1,683,700 14.4%

$1,507,148 $1,676,562 11.2%

103.0% 98.7% -4.2%

$31,650,100 $33,531,241 5.9%

CHASE

Boulder County is an eclectic community filled with plenty of natural spaces, a lively restaurant and entertainment scene, and one of the most desirable lifestyles in the country. Recently ranked as the No. 1 city in the nation to live in by U.S. News & World Report, Boulder is a popular destination for buying and selling luxury real estate.

Overall, Boulder County has seen a 9.2% increase in the number of luxury properties sold through Q3 of this year compared to the same time frame in 2021. The average sale price for luxury homes in this area decreased slightly by 1.2%, bringing the average price for local luxury properties to $1,751,371. The combination of these increases has boosted the total dollar volume sold by 7.8%, which brings the total to $1,963,287,036 through September of this year.

Looking at individual neighborhoods, Downtown Boulder had the most impressive increase in luxury listings sold. Through September of this year, there were 26 luxury homes sold, which is 18.2% more than during the same period in 2021. This community also saw the most appreciation through Q3, with average sale prices for luxury homes rising by 39.9% to reach an average price of $2,570,993.

The speed of the luxury real estate market in Boulder County increased over the course of the last 9 months. University Hill and Chautauqua had the quickest pace of sale out of the local

markets with homes in the area remaining on the market for an average of just 45 days. Other neighborhoods saw slightly longer average days on market for luxury homes, such as Boulder County

where homes spent 61 days on the market.

Based

January through September

# of

The

2022

Change

Sold 653 603 -7.7%

Average Days on Market 69 67 -2.9%

Highest Price $7,900,000 $10,000,000 26.6%

Average Sale Price  $1,866,143 $1,894,921 1.5%

%

Price to

Price  100.1% 101.4% 1.3%

Total Dollar Volume $1,218,591,143 $1,142,637,115 -6.2%

January through September

Change

# of Properties Sold 89 58 -34.8%

Average Days on Market 71 45 -36.6%

Highest Price $6,500,000 $6,875,000 5.8%

Average Sale Price  $1,969,947 $2,392,019 21.4%

% Sold Price to List Price  99.8% 99.7% -0.1%

Total Dollar Volume $175,325,325 $138,737,090 -20.9%

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

COLORADO

Located just an hour south of Denver, Colorado Springs is a city that combined the very best of natural beauty and an exciting urban lifestyle. LIV Sotheby’s International Realty reports that there was a 32.6% increase in the number of luxury homes sold within El Paso and Teller County through Q3 of 2022 compared to the same time frame in 2021. So far this year, there were 419 high-end homes sold in this community. The average sale price of those homes decreased by 2% which brought the average sale price to $1,387,897 for the area.

Looking at the quantity of luxury real estate sales within the various communities that make up Colorado Springs, the most dramatic increase was seen in Monument where luxury home sales rose from 52 sales through Q3 of 2021 to 146 sales this year – a 180% increase. The Black Forest neighborhood had the second-highest number of luxury home sales with a total of 87 homes sold for more than $1,000,000.

In some areas, the average sale price for luxury homes rose as well. High-end homes in the Kissing Camels community sold for an impressive 28% higher price during the first three quarters of the year compared to the same period last year. Homes here sold for an average price of $1,599,148.

While the average days on market for both El Paso and Teller County was

days on market in

of this year, some individual neighborhoods experienced even faster market speeds. For example, luxury homes in Flying Horse remained on the market for an average of just 27 days through September.

The

The number of

January

Properties

Average

Average

Highest

Average

Average

%

Total

January through

Properties

Average

Average

Highest

Average

Average

%

Total

January

Properties

Average

Average

Highest

Average

Average

%

Total

60 87 45.0%

$260 $284 9.2%

29 43 48.3%

$2,650,000 $3,200,000 20.8%

$1,386,209 $1,416,035 2.2%

$1,359,367 $1,445,181 6.3%

99.40% 99.60% 0.2%

$81,562,020 $125,730,747 54.2%

79 67 -15.2%

$272 $255 -6.3%

53 57 7.5%

$4,376,000 $6,200,000 41.7%

$1,738,343 $1,502,173 -13.6%

$1,648,429 $1,582,388 -4.0%

98.50% 97.60% -0.9%

$130,225,891 $106,019,996 -18.6%

30 38 26.7%

$265 $247 -6.8%

27 27 0.0%

$3,800,000 $1,992,500 -47.6%

$1,390,705 $1,280,045 -8.0%

$1,390,505 $1,203,493 -13.4%

100.10% 100.30% 0.2%

$41,715,150 $45,732,734 9.6%

Properties

Average

Average

Highest

Average

January

Properties Sold

Average Price

Average

Highest

Average

Sales

$1,800,000

-11.2%

-1.8%

180.8%

19.3%

-30.6%

$2,150,000 $7,000,000 225.6%

$1,232,943 $1,358,819 10.2%

$1,243,621 $1,370,158 10.2%

$64,668,292

The total sales volume in Monument increased by 209.3% in the first half of 2022 compared to that of 2021.

GRAND COUNTY LUXURY MARKET

Home to Colorado’s deepest natural lake, Grand County offers beautiful views of the waterfront, the mountains, and unforgettable sunsets. The luxury real estate market in this special community experienced a 27% boost in the number of properties sold through Q3 of 2022, in comparison to the same time frame last year. That increase in luxury home sales created a 26% rise in total dollar volume sold, which totaled $277,898,593 through September.

In the town of Granby, luxury single-family home sales rose by an impressive 77.3%, increasing from 22 homes sold through September of 2021 to 39 homes sold through September of this year. Winter Park also experienced a notable rise in luxury homebuying activity, with property sales increasing by 40%.

The Tabernash community saw luxury

prices appreciate through Q3 of this year, rising by 22.4% to $2,052,002. The real estate market in Winter Park also experienced an upward trend in

single-family home prices, which rose from $2,108,150 through September of 2021 to $2,157,977 through September of this year – a 2.4% increase.

Tabernash, the average

on market for

homes decreased by 39.1%. This accelerated market pace left homes in the area on the market for an average of 70 days through Q3 of this year.

-3.0%

average number of days on market

by 37.8% January through September 2022 compared to that of 2021.

-14.0%

-12.8%

numbers of properties sold in Granby increased by 77.3% January through September 2022 compared to that of 2021.

The

$5,729,500

$4,785,000

-8.7%

-39.1%

$5,850,000

$1,669,800 $2,062,861 23.5%

$1,676,968 $2,052,002

-0.4%

$3,800,000

$2,229,900 $2,117,143 -5.1%

$2,108,150 $2,157,977 2.4%

of

$30,211,688

SUMMIT COUNTY LUXURY

For those looking for breathtaking views, access to nature, and some of the most beautiful homes in Colorado, Summit County is the ultimate real estate destination. Through Q3 of this year, Summit County has experienced a boom in luxury homebuying and selling activity.

Overall, Summit County has seen a 6.1% increase in the number of luxury homes sold through September of this year compared to the same period of time in 2021. The average sold price of homes in this area decreased by 4.6%, which brings the average sale price for luxury homes to $3,007,296.

In Copper Mountain, a popular ski community, the number of luxury single-family homes sold rose by 300%, with four properties sold through September. Average sale prices for luxury listings in this resort town rose by 3.4%, bringing the average sale price for single-family homes in Copper Mountain to $3,982,769.

Breckenridge saw a decrease in the number of luxury homes sold through Q3 of this year. Through September, there were 74 single-family homes sold – a 24.5% difference from the same period in 2021. High-end homes here sold for an average price of $3,380,285, which is 3.9% less than the prior year.

Keystone also saw a dip in the number of luxury single-family homes sold, decreasing by 9.1%. However, homes here appreciated in price by an impressive 47.4%, bringing the average sale price to $3,995,500.

January

#

Average

Average

Highest

Average

Average

%

Total

The

January

#

Average

Average

Highest

Average

Average

%

Total

#

Average

Average

Average

Total

-24.5%

$875 21.0%

34 -49.3%

$17,000,000 $12,200,000 -28.2%

$3,612,328 $3,503,432 -3.0%

$3,517,875 $3,380,285 -3.9%

97.8% 97.5% -0.3%

$344,751,775 $250,141,065 -27.4%

1 4 300.0%

$605 $766 26.5%

4 13 225.0%

$3,850,000 $5,431,074 41.1%

$3,995,000 $4,020,268 0.6%

$3,850,000 $3,982,769 3.4%

96.37% 99.0% 2.7%

$3,850,000 $15,931,074 313.8%

-9.1%

17.1%

-62.5%

$4,025,000 $4,375,000 8.7%

$2,755,818 $3,140,300 14.0%

$2,710,773 $3,995,500 47.4%

98.4% 96.1% -2.3%

$29,818,501 $29,955,000 0.5%

CRESTED

Crested Butte boasts a tight-knit community surrounded by awe-inspiring scenery. Here, homebuyers will find stunning luxury homes, many of which have million-dollar views. This collection of neighborhoods within Gunnison County has seen a 35.6% decrease in the number of luxury properties sold through September this year compared to the same time frame in 2021. The average sale price of luxury homes in the area dipped by 0.4% while the average days spent on market for local homes decreased by 3.6% to reach 159 days on the market through Q3.

Rural Crested Butte saw the most luxury listings sold with a total of 15 homes sold through September of this year. The average sale price of those homes sold was $3,411,213 – a 12.2% increase from the same period the year prior. High-end listings in this area spent an average of 100 days on market through the first three quarters of the year.

In the Town of Crested Butte, there were five luxury

sold through September. Here, the average sale price was $3,940,000 and the average amount of time spent on the market was 319 days. In Mt. Crested Butte, there were slightly more luxury real estate sales, totaling seven through September. The average sale price of those homes was $3,037,514, making this the most affordable area in which to invest in a high-end home.

Gunnison

January through

#

Average

Average

Highest

Average

Average

%

Total

January through September

# of

Average

Average

Highest

Average

Average Sale

%

Total

January through September

#

Average

Average

Highest

Average

%

5 -58.3%

$1,098 $1,398 27.3%

319 112.7%

$4,250,000 $5,100,000 20.0%

$3,262,000 $3,966,000 21.6%

$3,176,166 $3,940,000 24.0%

97.4% 99.3% 2.0%

$38,114,000 $19,700,000 -48.3%

Change

7 -50.0%

$628 $654 4.1%

113 168 48.7%

$5,700,000 $3,500,000 -38.6%

$3,131,785 $3,122,857 -0.3%

$3,003,714 $3,037,514 1.1%

95.9% 97.3% 1.4%

$42,052,000 $21,262,600 -49.4%

-11.8%

$910 $801 -12.0%

100 -43.5%

$4,200,000 $7,400,000 76.2%

$3,136,705 $3,534,800 12.7%

$3,039,355 $3,411,213 12.2%

96.9% 96.5% -0.4%

$51,669,040 $51,168,200 -1.0%

VAIL VALLEY LUXURY

Known for its upscale lifestyle, world-class ski resorts, and stunning mountain scenery, the Vail Valley has been a favorite community for consumers seeking a luxury living experience in Colorado. Through September of this year, compared to the same time frame in 2021, the number of luxury listings sold within Eagle County, which makes up the Vail Valley, decreased by 9.1%. Meanwhile, average sales prices rose by 6%, bringing the average sale price to $5,910,935.

This notable increase in luxury homebuying activity can be seen throughout some of the individual neighborhoods within the Vail Valley as well. In Arrowhead and the Vail Golf Course communities, the number of luxury homes sold rose by 36.4% and 16.7% respectively. Vail Village had the most luxury property sales through Q3, with 28 listings sold.

Luxury properties in Lionshead enjoyed a healthy appreciation in average sale price, rising by 38.3% to reach an average price of $8,223,333 through Q3. It should be noted that this increase was also influenced by a significant $30,875,000 sale that took place earlier this year.

The pace of the market in Vail Village increased through September of this year compared to the same period last year, with properties of all types selling 44.6% faster. Luxury listings in this iconic neighborhood remained on the market for an average of 82 days from January through September of 2022.

Based on $3,000,000+ sales in Eagle County. Based on information from Vail Board of Realtors®.

September 5,

Vail Board of Realtors® does

of Realtors®

in

January through September

# of

Average Price

Average Days

11 15 36.4%

$776 $1,010 30.2%

104 76 -26.9%

Highest Price $10,605,750 $7,575,000 -28.6%

Average List Price $4,931,364 $5,424,533 10.0%

Average Sale Price $4,671,813 $5,343,966 14.4%

% Sold Price to

Total Dollar

Price 95.2% 99.1% 4.1%

$51,389,950 $80,159,500 56.0%

January through September

% Change

# of Properties Sold 20 15 -25.0%

Average Price Per Square

$1,250 $1,363 9.0%

Average Days on Market 111 32 -71.2%

Highest Price $13,500,000 $11,750,000 -13.0%

Average List Price $6,352,500 $7,097,000 11.7%

Average Sale Price $6,179,687 $6,916,766 11.9%

% Sold Price to

Total

Price 97.6% 97.3% -0.3%

$123,593,750 $103,751,500 -16.1%

January through September

# of

Average

Average

Highest

Average

Average

%

Total

Change

29 21 -27.6%

$1,041 $1,374 32.0%

265 85 -67.9%

$10,950,000 $10,200,000 -6.8%

$5,682,628 $4,676,000 -17.7%

$5,428,144 $4,569,214 -15.8%

96.1% 97.9% 1.9%

$157,416,176 $95,953,500 -39.0%

of

January

#

Average

January

Average

$15,500,000

$6,332,500 $7,700,000

$5,965,833 $7,289,285

$8,100,000

$8,100,000

TELLURIDE LUXURY MARKET

In Telluride, you’ll find incredible views, a community with a rich history, and gorgeous luxury homes that help residents create a life they truly love. In San Miguel County, which is home to Telluride and its surrounding communities, the luxury real estate market saw an impressive 7.9% increase in the number of homes sold through September compared to the same time frame in 2021. Overall, homes in this stunning community saw a 4.1% boost in the average sale price, reaching $6,148,465 through Q3.

The Town of Telluride community experienced the most notable increase in the number of luxury homes sold through September of this year, growing by an impressive 19%, from 21 homes sold through Q3 of last year to 25 homes sold through Q3 in 2022. The average sale price for listings here was $5,637,402 – a 1.4% increase from the previous year.

Mountain Village also experienced an increase in the number of luxury properties sold through September of this year – rising by 7.5% to reach a total of 43 listings sold. The average sale price of those properties was $6,112,789, which was 22% higher than the average sale price last year.

TELLURIDE

Miguel County

the Surrounding Mesas

which includes

Mesa, Specie Mesa, Turkey Creek Mesa, and Wilson Mesa, 15

of $6,945,945

a 15.6% decrease from the same period in 2022.

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 September 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.

January through September

# of Properties Sold

Change

25 19.0%

Average Price Per Square Foot $2,114 $2,247 6.3%

Average Days on Market 141 100 -29.1%

Highest Price $14,389,455 $12,500,000 -13.1%

Average List Price $5,723,048 $5,830,000 1.9%

Average Sale Price $5,558,498 $5,637,402 1.4%

% Sold Price to List Price 97.1% 96.7% -0.4%

Total Dollar Volume $116,728,455 $140,935,058 20.7%

January through September

2022 % Change

# of Properties Sold 40 43 7.5%

Average Price Per Square Foot $959 $1,392 45.2%

Average Days on Market 363 147 -59.5%

Highest Price $8,100,000 $17,100,000 111.1%

Average List Price $5,177,152 $6,249,140 20.7%

Average Sale Price $5,010,662 $6,112,789 22.0%

% Sold Price to List Price 96.8% 97.8% 1.1%

Total Dollar Volume $200,426,500 $262,849,917 31.1%

January through September

# of Properties Sold

% Change

15 7.1%

Average Price Per Square Foot $1,553 $1,639 5.5%

Average

Highest

Average

Average

%

Total

294 209 -28.9%

$39,500,000 $15,000,000 -62.0%

$8,567,357 $7,797,333 -9.0%

$8,226,607 $6,945,945 -15.6%

96.0% 89% -7.2%

$115,732,500 $104,189,175 -10.0%

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