Q3 2021
Luxury Report
5175 Bears Den Trail
13 Kokanee Lane
1
RESIDENTIAL LUXURY REPORT INTRODUCTION
Through the first three quarters of 2021, Colorado’s real estate market has seen increases in the number of luxury homes sold, as well as an appreciation in price for luxury properties in many communities thanks to the continued demand for homes that cater to the luxury lifestyle. While real estate activity is still rising, it is doing so at a slower rate than in 2020 as the market settles into more typical seasonal buying and selling patterns. This return to normal real estate trends may provide consumers with more opportunities to buy and sell their Colorado dream homes. LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a quarterly Residential Luxury Report, comparing January through September of this year to the previous year. The statistics in this report show performance for single family homes and condos for Denver Metro ($1 million+), the Foothills ($1 million+), Boulder ($1 million+), Colorado Springs ($1 million+), Grand County ($1 million+), Summit County ($2 million+), Crested Butte ($2 million+), the Vail Valley ($3 million+), and Telluride ($3 million+).
03
11
15
18
21
24
27
29
31
35
P. DENVER METRO $1 Million +
P. COLORADO SPRINGS $1 Million +
P. SOUTH METRO $1 Million +
P. GRAND COUNTY $1 Million +
P. VAIL VALLEY $3 Million +
2
P. FOOTHILLS $1 Million +
P. SUMMIT COUNTY $2 Million +
P. TELLURIDE $3 Million +
P. BOULDER $1 Million +
P. CRESTED BUTTE $2 Million +
DENVER METRO LUXURY MARKET Denver, a community where city living, open spaces, and luxurious homes intersect, saw a tremendous amount of buying and selling activity through Q3 of this year. Overall, the six counties across Denver Metro experienced a 92.4% increase in the number of luxury homes sold through September compared to the same period in 2020. The rise in luxury home sales resulted in a 100% increase in the dollar volume sold, bringing the total to $5,828,418,125. The strength of the market was seen throughout the individual neighborhoods within Denver Metro, as well. In the Mayfair/Montclair neighborhood, properties on less than an acre saw an impressive 106.9% increase in the number of luxury homes sold, growing from 29 homes sold through Q3 of 2020 to 60 homes sold so far this year. The City of Denver also saw a notable rise in luxury home sales, increasing by 88.1% through September. The demand for homes in Denver Metro has created an upward trend in luxury property prices. The Bonnie Brae/Belcaro neighborhood, which is beloved for its tree-lined streets and collection of small shops, saw a 45% increase in average sold price for luxury homes. From January to September of this year, the average sold price for a luxury home in this neighborhood was $2,164,460. In Cherry Creek North, another neighborhood known for its high-end lifestyle and listings, experienced a 17.3% increase in average sale price through Q3 of this year, making the average sale price $1,973,392 for local luxury homes. Denver Metro’s inventory of available luxury homes has remained low throughout the year, which is not uncommon for this Colorado community. This factor, paired with the increasing demand for luxury listings, has increased the pace of the market in many neighborhoods.
DENVER METRO January through September
2020
2021
% Change
# of Properties Sold
1,912
3,679
92.4%
Average Price Per Square Foot
$465
$513
10.4%
52
30
-42.3%
$9,000,000
$9,000,000
0.0%
Average List Price
$1,605,792
$1,511,648
-5.9%
Average Sale Price
$1,523,939
$1,584,240
4.0%
96.9%
100.0%
3.2%
$2,913,770,418
$5,828,418,125
100.0%
Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson
For example, luxury homes in the Washington Park East/Central neighborhood spent an average of 53.7% less time on the market through Q3 of this year, bringing the average days spent on market to 19 days. In the Country Club neighborhood, the average days on market for luxury homes decreased from 77 days to 71 days – a 7.8% difference. As the need for luxury homes with more space and amenities rises, Denver Metro has seen an increase in listings sold for significant price points. This year, in the City of Denver, a team of LIV SIR brokers represented a $9,000,000 sale. This impressive sale was priced 94.6% higher than the highest-priced sale closed during January through September of last year. 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 October 5, 2021. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $1,000,000 Sales
3
DENVER (CITY)
January through September
2020
2021
% Change
827
1,556
88.1%
$531
$600
13.0%
42
30
-28.6%
$4,625,000
$9,000,000
94.6%
Average List Price
$1,562,136
$1,589,048
1.7%
Average Sale Price
$1,521,091
$1,614,221
6.1%
96.2%
101.3%
5.2%
$1,257,942,141
$2,511,727,589
99.7%
# of Properties Sold Average Price Per Square Foot 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
61.3%
The highest price in Bonnie Brae/ Belcaro increased by 61.3% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
29
41
41.4%
$558
$706
26.5%
35
19
-45.7%
$3,100,000
$5,000,000
61.3%
Average List Price
$1,536,014
$2,087,777
35.9%
Average Sale Price
$1,492,748
$2,164,460
45.0%
94.9%
103.9%
9.5%
$43,289,701
$88,742,850
105.0%
# 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
84.8% The highest price in Bow Mar/Bow Mar South increased by 84.8% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
14
8
-42.9%
$518
$687
32.6%
27
19
-29.6%
$2,922,800
$5,400,000
84.8%
Average List Price
$1,688,571
$2,323,125
37.6%
Average Sale Price
$1,628,471
$2,317,125
42.3%
96.7%
99.6%
3.0%
$22,798,600
$18,537,000
-18.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: West Quincy Avenue to West Bowles Avenue
2021
% Change
68
92
35.3%
$664
$721
8.6%
51
41
-19.6%
$3,425,000
$4,700,000
37.2%
Average List Price
$1,719,122
$1,973,392
14.8%
Average Sale Price
$1,658,796
$1,945,275
17.3%
94.6%
97.0%
2.5%
$112,798,148
$178,965,300
58.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
58.7%
42.4%
CHERRY HILLS VILLAGE
2020
CHERRY CREEK NORTH
January through September
The total dollar volume in Cherry Creek North increased by 58.7% January through September 2021 compared to that of 2020.
Boundaries: York to Colorado; 1st Avenue to 6th Avenue
January through September
2020
2021
% Change
41
43
4.9%
$551
$703
27.6%
92
53
-42.4%
$9,000,000
$7,850,000
-12.8%
Average List Price
$3,474,378
$3,846,286
10.7%
Average Sale Price
$3,286,691
$3,858,436
17.4%
92.3%
100.5%
9.0%
$134,754,333
$165,912,739
23.1%
# 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
2020
2021
% Change
49
50
2.0%
$489
$612
25.2%
30
30
0.0%
$5,500,000
$5,000,000
-9.1%
Average List Price
$1,944,265
$2,683,888
38.0%
Average Sale Price
$1,909,055
$2,714,967
42.2%
96.4%
99.6%
3.4%
$93,543,711
$135,748,350
45.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
(Under 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou
CHERRY HILLS VILLAGE
January through September
The average days on market in Cherry Hills Village (over 1 acre) decreased by 42.4% January through September 2021 compared to that of 2020.
5
COLUMBINE VALLEY
68.1%
The average days on market in Columbine Valley decreased by 68.1% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
24
26
8.3%
$470
$515
9.8%
47
15
-68.1%
$3,700,000
$3,500,000
-5.4%
Average List Price
$1,567,679
$1,843,294
17.6%
Average Sale Price
$1,546,116
$1,865,375
20.6%
98.3%
100.8%
2.6%
$37,106,776
$48,499,737
30.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: South Polo Ridge Drive to West Bowles; Platte Canyon Road to South Platte River
COUNTRY CLUB
January through September
2020
2021
% Change
11
22
100.0%
$659
$751
14.0%
77
71
-7.8%
Highest Price
$4,625,000
$6,075,000
31.4%
Average List Price
$2,990,818
$3,287,227
9.9%
Average Sale Price
$2,703,636
$3,268,665
20.9%
91.4%
97.7%
6.9%
$29,740,000
$71,910,633
141.8%
# 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
6
12.6%
The average price per square foot in Crestmoor increased by 12.6% January through September 2021 compared to that of 2020.
January through September
th
2020
2021
% Change
20
21
5.0%
$514
$579
12.6%
29
8
-72.4%
Highest Price
$3,325,000
$3,500,000
5.3%
Average List Price
$1,912,200
$1,680,381
-12.1%
Average Sale Price
$1,865,600
$1,766,857
-5.3%
97.2%
104.4%
7.4%
$37,312,000
$37,104,000
-0.6%
# 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
2020
2021
% Change
24
30
25.0%
$387
$463
19.8%
33
23
-30.3%
Highest Price
$2,119,350
$2,310,000
9.0%
Average List Price
$1,532,500
$1,558,483
1.7%
Average Sale Price
$1,506,790
$1,576,489
4.6%
97.1%
100.3%
3.2%
$36,162,950
$47,294,667
30.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
GREENWOOD VILLAGE EAST
January through September
Boundaries: I-25 to Havana; Belleview to Orchard
2020
2021
% Change
8
15
87.5%
$458
$601
31.3%
44
35
-20.5%
$3,500,000
$7,428,000
112.2%
Average List Price
$2,119,875
$3,573,867
68.6%
Average Sale Price
$2,066,631
$3,410,247
65.0%
92.3%
96.5%
4.5%
$16,533,050
$51,153,700
209.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
87.5% The number of properties sold in Greenwood Village West (over 1 acre) increased by 87.5% January through September 2021 compared to that of
(Over 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
2020
2021
% Change
66
50
-24.2%
$458
$591
29.0%
40
19
-52.5%
$3,500,000
$4,500,000
28.6%
Average List Price
$1,900,313
$2,320,612
22.1%
Average Sale Price
$1,850,063
$2,336,005
26.3%
96.3%
101.8%
5.7%
$122,104,141
$116,800,270
-4.3%
# 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
26.3% The average sale price in Greenwood Village West (under 1 acre)increased by 26.3% January through September 2021 compared to that of 2020.
GREENWOOD VILLAGE WEST
January through September
GREENWOOD VILLAGE WEST
January through September
7
January through September
2020
2021
% Change
54
78
44.4%
$526
$582
10.6%
56
22
-60.7%
$3,500,000
$4,500,000
28.6%
Average List Price
$1,927,870
$1,890,037
-2.0%
Average Sale Price
$1,865,207
$1,906,019
2.2%
94.3%
99.8%
5.8%
$100,721,171
$148,669,485
47.6%
# 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
72.4% The total dollar volume in Huntington Trails/Lexington increased by 72.4% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
6
10
66.7%
$325
$324
-0.1%
32
77
140.6%
Highest Price
$1,600,000
$1,807,500
13.0%
Average List Price
$1,389,650
$1,369,900
-1.4%
Average Sale Price
$1,321,250
$1,366,950
3.5%
93.4%
101.0%
8.2%
$13,669,500
72.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price
$7,927,500
Total Dollar Volume
Boundaries: Lexington Place to 144 Avenue; McKay Lake to Huron Street th
87.3%
The average days on market in Ken Caryl North Ranch decreased by 87.3% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
9
17
88.9%
$328
$408
24.7%
63
8
-87.3%
Highest Price
$1,575,000
$1,920,000
21.9%
Average List Price
$1,278,222
$1,533,412
20.0%
Average Sale Price
$1,256,278
$1,567,647
24.8%
96.6%
102.2%
5.7%
$11,306,500
$26,650,000
135.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Red Fox Lane to North Ranch Road; Golden Eagle Road to Blue Grouse Ridge Road
2020
2021
% Change
29
60
106.9%
$462
$511
10.5%
41
23
-43.9%
Highest Price
$2,372,000
$1,895,000
-20.1%
Average List Price
$1,343,997
$1,301,837
-3.1%
Average Sale Price
$1,337,213
$1,322,730
-1.1%
99.0%
100.5%
1.5%
$38,779,177
$79,363,788
104.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
106.9% The number of properties sold in Mayfair/Montclair increased by 106.9% January through September 2021 compared to that of 2020.
Boundaries: Colorado to Quebec; 6th to Colfax
2020
2021
% Change
49
63
28.6%
$469
$585
24.7%
43
36
-16.3%
$2,870,000
$3,870,000
34.8%
Average List Price
$1,785,120
$2,110,946
18.3%
Average Sale Price
$1,726,439
$2,114,615
22.5%
95.6%
99.0%
3.6%
$84,595,500
$133,220,715
57.5%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
OBSERVATORY PARK
January through September
Boundaries: University to Colorado; Evans to Yale
January through September
2021
% Change
5
7
40.0%
$431
$522
21.2%
67
45
-32.8%
Highest Price
$3,700,000
$3,900,000
5.4%
Average List Price
$2,216,800
$2,911,428
31.3%
Average Sale Price
$2,165,660
$2,752,857
27.1%
94.4%
96.8%
2.6%
$10,828,300
$19,270,000
78.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: North of Mineral; South of Arabian Place; West of the S Platte River; East of S. Platte Canyon Road
31.3%
The average list price in Polo Reserve increased by 31.3% January through September 2021 compared to that of 2020.
POLO RESERVE
2020
MAYFAIR/MONTCLAIR
January through September
9
SPRUCE MEADOWS WASHINGTON PARK EAST/CENTRAL
10
78.3%
The average days on market in Spruce Meadows decreased by 78.3% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
8
5
-37.5%
$485
$551
13.7%
60
13
-78.3%
$3,500,000
$2,350,000
-32.9%
Average List Price
$2,311,209
$1,917,000
-17.1%
Average Sale Price
$2,287,183
$1,929,000
-15.7%
96.4%
101.0%
4.8%
$18,297,467
$9,645,000
-47.3%
# 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 September
2020
2021
% Change
91
118
29.7%
$644
$747
16.0%
41
19
-53.7%
$3,425,000
$4,375,000
27.7%
Average List Price
$1,814,691
$1,817,491
0.2%
Average Sale Price
$1,768,653
$1,880,655
6.3%
96.2%
102.6%
6.6%
$160,947,400
$221,917,311
37.9%
# 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 Many of the South Metro luxury homes offer consumers more space than can typically be found near the city with all of the entertainment, outdoor activity, and shopping options that homebuyers are looking for. For this reason, the collection of neighborhoods that make up South Metro have become a popular place to invest in luxury properties. Collectively, South Metro saw an 117.4% increase in the number of luxury properties sold and a 6.2% increase in average sold price. These metrics are positive indicators of the market’s strength and the continued demand for the lifestyle that this community affords its residents. Backcountry, a private, gated community in the Highlands Ranch area, experienced a 117.6% rise in luxury home sales, growing from 34 properties sold through September of 2020 to 74 properties sold through September of 2021. The Village at Castle Pines saw the most luxury homes sold so far this year, reaching a total of 79 luxury listings sold – a 12.9% increase from last year.
SOUTH METRO January through September
2020
2021
% Change
373
811
117.4%
$398
$432
8.5%
73
33
-54.8%
Highest Price
$4,115,000
$4,350,000
5.7%
Average List Price
$1,519,098
$1,447,631
-4.7%
Average Sale Price
$1,424,681
$1,513,662
6.2%
96.7%
100.0%
3.4%
$531,406,162
$1,227,579,731
131.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
The Village at Castle Pines also saw one of the highestpriced luxury home sales through Q3 of 2021. The $4,295,000 sale was 31.5% more than the highest-priced sale recorded during the same time frame last year.
Douglas County
The Ravenna neighborhood saw a 33.9% increase in average sale price for its luxury listings. High-end homes in this neighborhood sold for an average price of $2,575,467 through September of this year. In Falcon Hills, the average price appreciated by 5.6% to reach an average sales price of $1,437,500. Backcountry proved to be a very popular community through Q3 of 2021. Homes in this neighborhood saw an impressive 81.8% decrease in average days on market, with most homes staying on the market for an average of just eight days – a much shorter time frame from the Douglas County average, which was 33 days on market through September of 2021.
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 October 5, 2021. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $1,000,000 Sales
11
BACKCOUNTRY
117.6%
The number of properties sold in Backcountry increased by 117.6% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
34
74
117.6%
$376
$438
16.4%
44
8
-81.8%
$3,000,000
$2,725,000
-9.2%
Average List Price
$1,380,078
$1,477,815
7.1%
Average Sale Price
$1,350,121
$1,492,547
10.5%
96.0%
100.3%
4.5%
$45,904,124
$110,448,500
140.6%
# 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% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
8
2
-75.0%
$321
$342
6.8%
24
53
120.8%
Highest Price
$1,605,000
$1,650,000
2.8%
Average List Price
$1,384,875
$1,349,750
-2.5%
Average Sale Price
$1,361,813
$1,437,500
5.6%
97.4%
104.3%
7.1%
$10,894,500
$2,875,000
-73.6%
2020
2021
% Change
3
11
266.7%
$314
$450
43.6%
105
67
-36.2%
Highest Price
$1,700,000
$2,500,000
47.1%
Average List Price
$1,464,300
$1,742,909
19.0%
Average Sale Price
$1,380,775
$1,759,000
27.4%
89.0%
100.1%
12.5%
$4,142,324
$19,349,000
367.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
367.1% The total dollar volume in Heritage Estates increased by 367.1% January through September 2021 compared to that of 2020.
January through September # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
2020
2021
% Change
17
42
147.1%
$385
$406
5.4%
46
39
-15.2%
Highest Price
$1,989,428
$2,500,000
25.7%
Average List Price
$1,446,290
$1,476,043
2.1%
Average Sale Price
$1,436,992
$1,481,073
3.1%
97.4%
99.3%
1.9%
$24,428,865
$62,205,072
154.6%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through September
2021
% Change
6
17
183.3%
$399
$474
18.7%
24
10
-58.3%
Highest Price
$1,750,000
$3,270,000
86.9%
Average List Price
$1,346,667
$1,589,841
18.1%
Average Sale Price
$1,314,167
$1,594,706
21.3%
97.0%
99.6%
2.6%
$7,885,000
$27,110,000
243.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
58.3%
The average days on market in Keene Ranch decreased by 58.3% January through September 2021 compared to that of 2020.
KEENE RANCH
2020
HERITAGE HILLS
January through September
Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road
January through September
2021
% Change
16
15
-6.3%
$684
$732
7.0%
119
96.4
-19.0%
Highest Price
$3,047,125
$4,100,000
34.6%
Average List Price
$1,971,970
$2,657,727
34.8%
Average Sale Price
$1,923,170
$2,575,467
33.9%
100.2%
96.4%
-3.8%
$30,770,721
$38,632,000
25.5%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
33.9%
The average sale price in Ravenna increased by 33.9% January through September 2021 compared to that of 2020.
RAVENNA
2020
Boundaries: Colorado to Quebec; 6th to Colfax
13
SPIRIT RIDGE
24.0%
The average price per square foot in Spirit Ridge increased by 24.0% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
6
6
0.0%
$313
$388
24.0%
99
179
80.8%
Highest Price
$1,875,844
$2,265,000
20.7%
Average List Price
$1,369,050
$1,592,915
16.4%
Average Sale Price
$1,284,724
$1,606,667
25.1%
93.6%
95.6%
2.1%
$7,708,344
$9,640,000
25.1%
2020
2021
% Change
70
79
12.9%
$420
$515
22.6%
66
39
-40.9%
Highest Price
$3,266,716
$4,295,000
31.5%
Average List Price
$1,541,997
$1,879,401
21.9%
Average Sale Price
$1,490,642
$1,872,571
25.6%
94.8%
100.2%
5.6%
$104,344,917
$147,933,071
41.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
THE VILLAGE AT CASTLE PINES
Boundaries: University to Colorado; Evans to Yale
14
January through September # 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 Q3 of this year. As a whole, the number of luxury listings sold through September in 2021, compared to the same time period in 2020, grew by an impressive 126.8%, totaling 694 homes sold. The average sold price for homes in this area also rose, increasing by 5.8% to reach an average price of $1,452,805. Thanks to these increases, the total dollar volume sold rose by 140%, bringing the total to $1,008,246,604 so far this year. Out of the six luxury neighborhoods within the Foothills market, Hangen Ranch and Genesee saw the most notable increases in the number of luxury listings sold through September of this year. In Hangen Ranch, there were four luxury homes sold, a 300% increase compared to January through September of last year when there was one home sold. Genesee experienced a 200% increase in the number of luxury homes sold, growing from two sales last year to six sales this year.
FOOTHILLS January through September
2020
2021
% Change
306
694
126.8%
$396
$461
16.4%
61
24
-60.7%
$3,800,000
$5,440,000
43.2%
Average List Price
$1,412,433
$1,381,929
-2.2%
Average Sale Price
$1,372,777
$1,452,805
5.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
Average prices in some communities also saw % Sold Price to List Price 96.4% 100.0% 3.7% increases. For example, luxury homes within Soda Creek Total Dollar Volume $420,069,785 $1,008,246,604 140.0% increased in average sale price by 26.2%, bringing Jefferson County the price to $2,197,424 – the highest average price for luxury homes in the Foothills. In Genesee, the average sale price rose by 8% to bring the average sale price to $1,479,171. Other neighborhoods in the area saw a decrease in the days on market. Spring Ranch saw a 63.6% drop in the average days on market for luxury homes through Q3. Luxury homes in this area of the Foothills spent an average of 24 days on the market through September.
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 October 5, 2021. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $1,000,000 Sales
15
January through September
2020
2021
% Change
14
29
107.1%
$454
$485
6.8%
37
18
-51.4%
$3,100,000
$2,200,000
-29.0%
Average List Price
$1,416,500
$1,456,931
2.9%
Average Sale Price
$1,370,036
$1,479,171
8.0%
95.6%
101.2%
5.8%
$19,180,500
$42,895,950
123.6%
# of Properties Sold
GENESEE
Average Price Per Square Foot Average Days on Market Highest Price
% 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
447.7% The total dollar volume in Hangen Ranch increased by 447.7% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
1
4
300.0%
$618
$679
9.8%
7
11
57.1%
Highest Price
$1,100,000
$1,922,222
74.7%
Average List Price
$1,100,000
$1,477,500
34.3%
Average Sale Price
$1,100,000
$1,506,181
36.9%
100.0%
103.3%
3.3%
$1,100,000
$6,024,722
447.7%
2020
2021
% Change
11
21
90.9%
$346
$421
21.6%
66
9
-86.4%
Highest Price
$1,310,000
$2,600,000
98.5%
Average List Price
$1,274,364
$1,472,010
15.5%
Average Sale Price
$1,219,727
$1,507,148
23.6%
93.7%
103.0%
9.9%
$13,417,000
$31,650,100
135.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
98.5%
The highest price in Ridge at Hiwan increased by 98.5% January through September 2021 compared to that of 2020.
January through September # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through September
6
2
-66.7%
$301
$296
-1.6%
97
165
70.1%
Highest Price
$1,370,000
$1,850,000
35.0%
Average List Price
$1,216,500
$1,562,500
28.4%
Average Sale Price
$1,181,833
$1,500,000
26.9%
93.0%
94.2%
1.3%
$7,091,000
$3,000,000
-57.7%
2020
2021
% Change
16
12
-25.0%
$405
$492
21.3%
141
40
-71.6%
$3,300,000
$4,775,150
44.7%
Average List Price
$1,856,813
$2,314,250
24.6%
Average Sale Price
$1,741,669
$2,197,424
26.2%
90.6%
95.6%
5.5%
$27,866,700
$26,369,090
-5.4%
2020
2021
% Change
4
4
0.0%
$383
$561
46.4%
66
24
-63.6%
Highest Price
$1,675,000
$2,495,000
49.0%
Average List Price
$1,465,375
$2,196,225
49.9%
Average Sale Price
$1,454,750
$2,130,000
46.4%
95.3%
94.6%
-0.8%
$5,819,000
$8,520,000
46.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through September # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
January through September # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
35.0%
The highest price in Riva Chase increased by 35.0% January through September 2021 compared to that of 2020.
63.6%
The average days on market in Spring Ranch decreased by 63.6% January through September 2021 compared to that of 2020.
SPRING RANCH
% Change
SODA CREEK
2021
RIVA CHASE
2020
17
BOULDER
LUXURY MARKET
Boulder is the place to be for consumers looking for a community with a shared interest in healthy living and outdoor activities. This collection of neighborhoods at the base of the Flatirons features luxury real estate that captivates buyers from all over. With more consumers prioritizing access to the outdoors and private spaces, Boulder’s housing market has seen significant increases in homebuying and selling activity. As a whole, the communities within Boulder County saw a 79.4% increase in the amount of luxury properties sold through September of this year compared to the same time frame in 2020. Not only did the number of luxury homes sold rise, but those homes sold more quickly than last year as well. The average days on market for luxury homes in Boulder County decreased by 20.5%, bringing the average days on market to 66 days.
BOULDER January through September # of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price
2020
2021
% Change
549
985
79.4%
83
66
-20.5%
$8,000,000
$8,150,000
1.9%
$1,628,235
$1,759,259
-78.0%
97.3%
100.7%
-100.0%
Total Dollar Volume $893,900,929 $1,732,869,936 93.9% The City of Boulder experienced one of the largest Boulder County increases in luxury properties sold through September of this year. This lively community saw a 70.9% increase in luxury homes sold, growing from 409 homes sold through September in 2020 to 699 homes sold through September in 2021. Boulder’s Foothills communities, which include Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, and Eldorado Springs, also saw a tremendous increase in the number of luxury homes sold, rising by 70.6% to reach a total of 621 sales.
Luxury listings in Downtown Boulder appreciated the most through September of this year compared to the same time frame last year. High-end homes in this area rose in average sold price by 19.3%, making the average price for luxury homes in this area $2,140,561. Average prices remained nearly the same in the University Hill and Chautauqua neighborhood, rising by only 1.6% to $1,902,658.
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 October 5, 2021. IRES, LLC does not guarantee nor is in any way responsible for its accuracy. Data maintained by IRES,LLC may not reflect all real estate activity in the market.
18
+ $1,000,000 Sales
2021
% Change
409
699
70.9%
79
65
-17.7%
$8,000,000
$7,900,000
-1.3%
$1,697,772
$1,826,463
7.6%
97.3%
100.6%
3.4%
$694,388,941
$1,276,697,371
83.9%
2020
2021
% Change
135
218
61.5%
97
71
-26.8%
Highest Price
$4,000,000
$8,150,000
103.8%
Average Sold Price
$2,084,720
$1,842,701
-11.6%
97.3%
99.9%
2.7%
$202,217,887
$401,708,811
98.7%
# of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
January through September # 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
2020
2021
% Change
# of Properties Sold
54
57
5.6%
Average Days on Market
114
101
-11.4%
Highest Price
$5,910,000
$6,400,000
8.3%
Average Sold Price
$1,794,060
$2,140,561
19.3%
98.0%
96.6%
-1.4%
$96,879,233
$122,011,988
25.9%
% Sold Price to List Price Total Dollar Volume
The number of properties sold in Boulder County Plains increased by 61.5% January through September 2021 compared to that of 2020.
DOWNTOWN BOULDER
January through September
61.5%
BOULDER COUNTY PLAINS
2020
BOULDER (CITY)
January through September
19
FOOTHILLS COMMUNITIES UNIVERSITY HILL & CHAUTAUQUA 20
84.4%
The total dollar volume in the Foothills communities increased by 84.4% January through September 2021 compared to that of 2020.
January through September # of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
2020
2021
% Change
364
621
70.6%
75
68
-9.3%
$8,000,000
$7,900,000
-1.3%
$1,708,283
$1,846,534
8.1%
97.5%
100.3%
2.9%
$621,815,161
$1,146,697,793
84.4%
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
January through September
2020
2021
% Change
# of Properties Sold
46
76
65.2%
Average Days on Market
79
64
-19.0%
$5,675,000
$4,400,000
-22.5%
$1,872,424
$1,902,658
1.6%
96.7%
100.2%
3.6%
$86,131,510
$144,601,975
67.9%
Highest Price Average Sold Price % 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 recently 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 seen an immense increase in luxury real estate activity. When looking at the luxury market within El Paso and Teller County through Q3 of 2021, it is evident that the demand for homes in the area has grown exponentially. The number of luxury homes sold through September increased by 130.7% compared to the same time frame last year. This increase in sold listings resulted in a 145% increase in the overall total dollar volume sold, bringing the total to $447,503,400.
COLORADO SPRINGS
January through September
The majority of luxury neighborhoods within Colorado Springs saw the number of homes sold more than double through September of this year compared to the same time frame in 2020. The most notable increase in luxury properties sold was seen in Flying Horse. Here, there were 30 listings sold through Q3 of 2021 compared to eight homes sold through Q3 of 2020 – a 275% increase. Monument also saw an impressive increase in luxury home sales, rising by 173.7%.
2020
2021
% Change
137
316
130.7%
$222
$262
18.0%
86
48
-44.2%
$6,700,000
$4,376,000
-34.7%
Average List Price
$1,401,540
$1,455,770
3.9%
Average Sales Price
$1,333,435
$1,416,150
6.2%
96.6%
99.2%
2.7%
$182,680,595
$447,503,400
145.0%
Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Many communities also saw appreciating average sale prices. Counties: El Paso & Teller The Broadmoor Area, a neighborhood named for the famous Broadmoor Hotel, saw average home prices rise by 14.4%, reaching an average price of $1,648,429. Buyers looking for more affordability within Colorado Springs’ luxury market may find success in the Kissing Camels neighborhood, where average sale prices rose by just 4.2% to reach an average sale price of $1,249,425. A decrease in days on market helps illustrate how quickly homes within an area are selling, often indicating increased demand. The Black Forest neighborhood experienced a 74.3% drop in average days on market for luxury homes, lowering the time these properties spent on the market from 113 days through Q3 in 2020 to 29 days through Q3 of this year. Other communities, such as the Broadmoor Area, also saw a dip in average days on market, decreasing by 45.9%. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2021 through September 30, 2021. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market.
+ $1,000,000 Sales
21
BLACK FOREST BROADMOOR FLYING HORSE 22
74.3% The average days on market in Black Forest decreased by 74.3% January through September 2021 compared to that of 2020.
191.4%
The total dollar volume in Broadmoor increased by 191.4% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
34
60
76.5%
$221
$260
17.6%
113
29
-74.3%
$2,385,000
$2,650,000
11.1%
Average List Price
$1,342,222
$1,386,209
3.3%
Average Sales Price
$1,280,455
$1,359,367
6.2%
96.9%
99.4%
2.6%
$43,535,470
$81,562,020
87.3%
2020
2021
% Change
31
79
154.8%
$234
$272
16.2%
98
53
-45.9%
Highest Price
$2,750,000
$4,376,000
59.1%
Average List Price
$1,540,302
$1,738,343
12.9%
Average Sales Price
$1,441,404
$1,648,429
14.4%
94.8%
98.5%
3.9%
$44,683,524
$130,225,891
191.4%
2020
2021
% Change
8
30
275.0%
$219
$265
21.0%
36
27
-25.0%
$1,900,000
$3,800,000
100.0%
$1,326,119
$1,390,705
4.9%
$1,286,070
$1,390,505
8.1%
97.5%
100.1%
2.7%
$10,288,560
$41,715,150
305.5%
Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
January through September Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
275.0%
The number of properties sold in Flying Horse increased by 275.0% January through September 2021 compared to that of 2020.
January through September 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
2021
% Change
13
13
0.0%
$228
$265
16.2%
56
56
0.0%
Highest Price
$1,639,500
$1,800,000
9.8%
Average List Price
$1,259,992
$1,305,000
3.6%
$1,199,231
$1,249,425
4.2%
96.5%
99.0%
2.6%
$15,590,003
$16,242,525
4.2%
2020
2021
% Change
19
52
173.7%
$206
$228
10.7%
73
36
-50.7%
$2,500,000
$2,150,000
-14.0%
Average List Price
$1,278,664
$1,232,943
-3.6%
Average Sales Price
$1,248,496
$1,243,621
-0.4%
99.0%
100.5%
1.5%
$23,721,424
$64,668,292
172.6%
Properties Sold Average Price Per Square Foot Average Days on Market
Average Sales Price % Sold Price to List Price Total Dollar Volume
January through September Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
50.7%
The average days on market in Monuent decreased by 50.7% January through September 2021 compared to that of 2020.
MONUMENT
2020
KISSING CAMELS
January through September
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 93% boost in the number of properties sold through September 2021, in comparison to the same time frame last year. That increase in luxury home sales resulted in an 83.3% rise in total dollar volume sold, which totaled $220,549,104 through Q3. In the town of Grand Lake, luxury single family home sales rose by 118.2%, increasing from 11 homes sold through September of 2020 to 24 homes sold through September of this year. Granby also experienced a notable rise in luxury homebuying activity, with property sales increasing by 450%.
GRAND COUNTY January through September
2020
2021
% Change
71
137
93.0%
156
115
-26.3%
$6,233,370
$4,600,000
-26.2%
Average List Price $1,774,736 The Winter Park community saw luxury single family Average Sold Price $1,694,206 home prices appreciate through Q3 of this year, rising by 20.4% to $2,108,150. The real estate market in % Sold Price to List Price 95.7% Tabernash also experienced an upward trend in luxury Total Dollar Volume $120,288,626 single family home prices, which rose from $1,511,490 through September of 2020 to $1,676,968 through September of this year – a 10.9% increase.
$1,618,449
-8.8%
$1,609,847
-5.0%
100.0%
4.5%
$220,549,104
83.3%
# of Properties Sold Average Days on Market Highest Price
In Winter Park, the average days on market for luxury single family homes decreased by 41.4%. This accelerated market pace left homes in the area on the market for an average of 78 days through Q3 of 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 October 5, 2021. The Grand County Board of Realtors does not guarantee nor is in any way responsible for its accuracy. Data maintained by the Grand County Board of Realtors may not reflect all real estate activity in the market.
24
+ $1,000,000 Sales
January through September
2021
% Change
19
29
52.6%
194
119
-38.7%
$3,710,000
$4,100,000
10.5%
Average List Price
$1,847,732
$1,772,583
-4.1%
Average Sold Price
$1,729,172
$1,780,123
2.9%
94.1%
101.7%
8.1%
$32,854,269
$51,623,592
57.1%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
52.6%
The number of properties sold in Fraser increased by 52.6% January through September 2021 compared to that of 2020.
FRASER
2020
Single Family Homes
January through September
2021
% Change
4
22
450.0%
307
80
-73.9%
Highest Price
$6,233,370
$4,430,000
-28.9%
Average List Price
$2,604,125
$1,536,768
-41.0%
Average Sold Price
$2,470,842
$1,538,613
-37.7%
93.4%
100.1%
7.2%
$9,883,370
$33,849,500
242.5%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
73.9%
The average days on market in Granby decreased by 73.9% January through September 2021 compared to that of 2020.
GRANBY
2020
All Properties
January through September
2021
% Change
11
24
118.2%
125
82
-34.4%
Highest Price
$3,675,000
$4,600,000
25.2%
Average List Price
$1,932,182
$1,722,000
-10.9%
Average Sold Price
$1,830,636
$1,698,302
-7.2%
93.4%
99.2%
6.2%
$20,137,000
$40,759,250
102.4%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
GRAND LAKE
2020
25
KREMMLING
56.8%
The total dollar volume in Kremmling increased by 56.8% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
1
3
200.0%
568
449
-21.0%
Highest Price
$2,200,000
$1,225,000
-44.3%
Average List Price
$2,400,000
$1,276,667
-46.8%
Average Sold Price
$2,200,000
$1,150,000
-47.7%
91.7%
90.9%
-0.8%
$2,200,000
$3,450,000
56.8%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
All Properties
TABERNASH
January through September
2020
2021
% Change
# of Properties Sold
20
16
-20.0%
Average Days on Market
87
115
32.2%
$2,650,000
$3,500,000
32.1%
Average List Price
$1,552,070
$1,669,800
7.6%
Average Sold Price
$1,511,490
$1,676,968
10.9%
98.0%
102.0%
4.1%
$30,229,801
$26,831,500
-11.2%
Highest Price
% Sold Price to List Price Total Dollar Volume
WINTER PARK
All Properties
41.4%
The average days on market in Winter Park decreased by 41.4% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
9
10
11.1%
133
78
-41.4%
Highest Price
$2,922,500
$2,899,000
-0.8%
Average List Price
$1,804,544
$2,229,900
23.6%
Average Sold Price
$1,750,476
$2,108,150
20.4%
97.6%
95.9%
-1.7%
$15,754,286
$21,081,500
33.8%
# of Properties Sold Average Days on Market
% 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 an 82.2% increase in the number of luxury homes sold through September of this year compared to the same period in 2020. High-end homes here appreciated in price by 12.4%, bringing the average sold price to $3,153,239. Combined, these increases contributed to the 104.9% boost in the dollar volume sold, totaling $517,131,213 through September of this year.
SUMMIT COUNTY January through September
2020
2021
% Change
90
164
82.2%
$603
$738
22.3%
126
56
-55.6%
Highest Price
$7,000,000
$17,000,000
142.9%
Average List Price
$2,934,369
$3,231,919
10.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market
The world-famous ski town of Breckenridge Average Sold Price $2,804,337 $3,153,239 12.4% experienced a 55.6% rise in the number of luxury % Sold Price to List Price 96.1% 98.0% 2.0% single family homes sold through Q3 of this year. The Total Dollar Volume $252,390,317 $517,131,213 104.9% neighboring resort community of Keystone also saw a notable increase in luxury property sales, growing by 175% from four homes sold through September of 2020 to 11 homes sold through September of 2021.
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 October 5, 2021. Summit Association of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Summit Association of Realtors® may not reflect all real estate activity in the market.
+ $2,000,000 Sales
27
BRECKENRIDGE
January through September
2020
2021
% Change
63
98
55.6%
$601
$723
20.2%
137
67
-51.1%
Highest Price
$7,000,000
$17,000,000
142.9%
Average List Price
$3,080,508
$3,612,328
17.3%
Average Sold Price
$2,934,444
$3,517,875
19.9%
95.8%
97.8%
2.1%
$184,869,972
$344,751,775
86.5%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
COPPER MOUNTAIN
Single Family Homes
20.3% The average sold price in Copper Mountain increased by 20.3% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
3
1
-66.7%
$602
$605
0.6%
166
4
-97.6%
Highest Price
$3,600,000
$3,850,000
6.9%
Average List Price
$3,340,000
$3,995,000
19.6%
Average Sold Price
$3,200,000
$3,850,000
20.3%
95.8%
96.4%
0.6%
$9,600,000
$3,850,000
-59.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
January through September
2020
2021
% Change
4
11
175.0%
$508
$571
12.3%
38
48
26.3%
Highest Price
$2,590,000
$4,025,000
55.4%
Average List Price
$2,392,250
$2,755,818
15.2%
Average Sold Price
$2,278,750
$2,710,773
19.0%
95.3%
98.4%
3.3%
$9,115,000
$29,818,501
227.1%
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 looking for a small town feel with the benefit of incredible scenery, skiing, and luxury homes, Crested Butte is the place to live. This community within Gunnison County has seen an amazing 247.1% increase in the number of luxury properties sold so far this year compared to the same time frame in 2020. This rise in luxury property sales has contributed to the increase in total sales volume which reached $219,736,900 through September – a 358.3% boost. Luxury single family home sales in the Town of Crested Butte rose by 100%, increasing from six sales to 12 sales over the course of a year. The community of Mt. Crested Butte experienced the most significant increase in luxury home sales seen through Q3 of 2021, rising by 600% from two sales to 14 sales. Looking at the average price for local luxury residences, both the Town of Crested Butte and Mt. Crested Butte saw appreciating prices in the single family home market. Luxury listing prices in the Town of Crested Butte increased by 24.3%, bringing the average sold price to $3,176,166. In Mt. Crested Butte, luxury listings appreciated in price by 43%, bringing the average sale price to $3,003,714.
CRESTED BUTTE January through September
2020
2021
% Change
17
59
247.1%
$711
$864
21.5%
278
165
-40.6%
Highest Price
$5,150,000
$27,000,000
424.3%
Average List Price
$3,331,705
$3,925,675
17.8%
Average Sale Price
$2,820,633
$3,724,354
32.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market
With demand for high-end homes in this mountain % Sold Price to List Price 84.7% 94.9% 12.1% community strengthening, the number of days homes are Total Dollar Volume $47,950,775 $219,736,900 358.3% spending on the market have decreased. In Rural Crested Gunnison County Butte, luxury homes spent an average of 183 days on market through September – a 34.2% decrease compared to January through September of 2020. Mt. Crested Butte saw the most dramatic decrease in average days on market, decreasing by 77.6% which left luxury homes on the market for an average of 113 days through Q3 of this year. These mountain towns serve as escapes for those looking to live somewhere extraordinary. As space and access to the outdoors becomes more important to buyers, the real estate market in Crested Butte and the wonderful communities that surround it will 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 October 8, 2021. Verify with a local Realtor®. All information is deemed reliable but not guaranteed. Data maintained by CREN MLS may not reflect all real estate activity in the market.
+ $2,000,000 Sales
29
The total dollar volume in the town of Crested Butte increased by 148.7% January through September 2021 compared to that of 2020.
RURAL CRESTED BUTTE 30
2020
2021
% Change
6
12
100.0%
$831
$1,098
32.2%
225
150
-33.3%
Highest Price
$3,363,150
$4,250,000
26.4%
Average List Price
$2,722,500
$3,262,000
19.8%
Average Sale Price
$2,554,379
$3,176,166
24.3%
93.8%
97.4%
3.8%
$15,326,275
$38,114,000
148.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
MT. CRESTED BUTTE
TOWN OF CRESTED BUTTE
148.7%
January through September
January through September
2020
2021
% Change
2
14
600.0%
Average Price Per Square Foot
$511
$628
22.8%
Average Days on Market
504
113
-77.6%
Highest Price
$2,100,000
$5,700,000
171.4%
Average List Price
$2,375,000
$3,131,785
31.9%
Average Sale Price
$2,100,000
$3,003,714
43.0%
88.4%
95.9%
8.5%
$4,200,000
$42,052,000
901.2%
# of Properties Sold
% Sold Price to List Price Total Dollar Volume
Single Family Homes
128.6% The number of properties sold in Rural Crested Butte increased by 128.6% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
7
16
128.6%
$666
$896
34.7%
278
183
-34.2%
Highest Price
$5,150,000
$4,200,000
-18.4%
Average List Price
$4,250,571
$3,201,500
-24.7%
Average Sale Price
$3,342,142
$3,104,315
-7.1%
78.6%
97.0%
23.3%
$23,395,000
$49,669,040
112.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
VAIL VALLEY LUXURY MARKET As home to some of Colorado’s best skiing, stunning natural spaces, and a luxury resort lifestyle, the Vail Valley is a highly sought-after destination to invest in primary residences and vacation houses. Through September of this year, the Vail Valley saw a 78.1% increase in the number of luxury listings sold. Luxury homes here sold for an average price of $5,579,305. Overall, the Vail Valley experienced a 50.5% increase in the dollar volume sold, totaling $1,043,330,046 through September of this year. Beaver Creek saw the most dramatic increase in the number of luxury properties sold through September of this year, rising from 12 homes sold through Q3 of last year to 29 homes sold so far this year, a 141.7% increase. Lionshead and Bachelor Gulch also experienced notable increase in luxury home sales, growing by 122.2% and 66.7% respectively.
VAIL VALLEY January through September # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price
2020
2021
% Change
105
187
78.1%
$1,296
$1,342
3.5%
285
182
-36.1%
$29,750,000
$34,000,000
14.3%
$7,078,800
$5,845,710
-17.4%
The Lionshead neighborhood also saw the most Average Sale Price $6,603,612 $5,579,305 -15.5% significant increase in average sale price through Q3 % Sold Price to List Price 93.8% 96.1% 2.5% of this year. Here, luxury single family homes sold for Total Dollar Volume $693,379,305 $1,043,330,046 50.5% an average price of $5,944,500, a 27.9% increase. Eagle County Mountain Star, a spacious and tranquil community, saw average sale prices rise by 0.9%, bringing the average price for homes in this area to $6,064,500. Many communities have seen decreases in the average time luxury homes are spending on the market due to the amount of demand for homes in the Vail Valley. For example, luxury homes within Arrowhead spent an average of 104 days on market through September of this year compared to the same time frame last year, a 66.7% difference.
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 October 5, 2021. Vail Board of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Vail Board of Realtors® may not reflect all real estate activity in the market.
+ $3,000,000 Sales
31
ARROWHEAD
66.7%
The average days on market in Arrowhead decreased by 66.7% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
12
11
-8.3%
$688
$776
12.8%
312
104
-66.7%
$13,500,000
$10,605,750
-21.4%
Average List Price
$4,881,583
$4,931,364
1.0%
Average Sale Price
$4,552,333
$4,671,813
2.6%
93.3%
95.2%
2.0%
$54,628,000
$51,389,950
-5.9%
# 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
Single Family Homes
January through September
2020
2021
% Change
12
20
66.7%
$910
$1,250
37.4%
332
111
-66.6%
$12,995,000
$13,500,000
3.9%
Average List Price
$7,196,667
$6,352,500
-11.7%
Average Sale Price
$6,773,958
$6,179,687
-8.8%
93.9%
97.6%
3.9%
$81,287,500
$123,593,750
52.0%
# 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
122.3% The total dollar volume in Beaver Creek increased by 122.3% January through September 2021 compared to that of 2020.
January through September # 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
2020
2021
% Change
12
29
141.7%
$1,104
$1,042
-5.6%
310
265
-14.5%
$12,375,000
$10,950,000
-11.5%
$6,187,917
$5,682,628
-8.2%
$5,906,666
$5,432,277
-8.0%
96.0%
96.2%
0.2%
$70,880,000
$157,536,051
122.3%
Single Family Homes
32
January through September
2021
% Change
50
73
46.0%
$1,850
$2,033
9.9%
297
233
-21.5%
$29,750,000
$3,400,000
-88.6%
Average List Price
$8,824,680
$7,014,274
-20.5%
Average Sale Price
$8,210,506
$6,627,709
-19.3%
93.6%
95.3%
1.8%
$410,525,305
$483,822,795
17.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
46.0%
The number of properties sold in the Town of Vail increased by 46.0% January through September 2021 compared to that of 2020.
TOWN OF VAIL
2020
All Properties
January through September
2021
% Change
24
33
37.5%
$2,519
$2,623
4.1%
358
148
-58.7%
$29,750,000
$34,000,000
14.3%
Average List Price
$13,114,750
$8,406,182
-35.9%
Average Sale Price
$12,021,195
$7,935,568
-34.0%
90.5%
95.1%
5.0%
$288,508,680
$261,873,750
-9.2%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
VAIL VILLAGE
2020
All Properties
January through September
2021
% Change
9
20
122.2%
$1,715
$1,971
14.9%
299
292
-2.3%
Highest Price
$6,700,000
$12,450,000
85.8%
Average List Price
$4,786,667
$6,245,950
30.5%
Average Sale Price
$4,646,666
$5,944,500
27.9%
97.2%
95.5%
-1.7%
$41,820,000
$118,890,000
184.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
85.8%
The highest price in Lionshead increased by 85.8% January through September 2021 compared to that of 2020.
LIONSHEAD
2020
All Properties
33
The total dollar volume in Vail Golf Course increased by 79.4% January through September 2021 compared to that of 2020.
MOUNTAIN STAR 34
2020
2021
% Change
2
6
200.0%
$2,328
$1,536
-34.0%
37
177
378.4%
Highest Price
$11,950,000
$8,750,000
-26.8%
Average List Price
$10,225,000
$6,332,500
-38.1%
Average Sale Price
$9,975,000
$5,965,833
-40.2%
97.1%
95.2%
-1.9%
$19,950,000
$35,795,000
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
79.4% All Properties
January through September
SPRADDLE CREEK
VAIL GOLF COURSE
79.4%
January through September
2020
2021
% Change
No Sales
1
-
Average Price Per Square Foot
-
$1,078
-
Average Days on Market
-
650
-
Highest Price
-
$8,100,000
-
Average List Price
-
$9,999,000
-
Average Sale Price
-
$8,100,000
-
% Sold Price to List Price
-
81.0%
-
Total Dollar Volume
-
$8,100,000
# of Properties Sold
All Properties
25.0%
The number of properties sold in Mountain Star increased by 25.0% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
4
5
25.0%
$762
$714
-6.3%
230
431
87.4%
Highest Price
$8,530,000
$8,500,000
-0.4%
Average List Price
$6,510,000
$6,348,000
-2.5%
Average Sale Price
$6,010,000
$6,064,500
0.9%
93.3%
95.5%
2.3%
$24,040,000
$30,322,500
26.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
TELLURIDE LUXURY MARKET San Miguel County, which is home to Telluride and surrounding communities, experienced an impressive 30.3% increase in the number of luxury homes sold through September in 2021 compared to the same time frame in 2020. The average price of luxury homes also rose this year, appreciating by 18.3% to reach an average sold price of $5,752,535. Combined these increases resulted in a 54.1% increase in the overall dollar volume sold, totaling $494,718,000. Within San Miguel County, the Mountain Village community experienced a 78.3% rise in the number of luxury residential properties sold through September of this year compared to the same time frame last year. So far this year, 41 luxury listings have been sold here. Those properties spent an average of 359 days on market.
TELLURIDE January through September # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
2020
2021
% Change
66
86
30.3%
$1,199
$1,448
20.8%
449
326
-27.4%
$13,250,000
$39,500,000
198.1%
Average List Price $5,178,877 $5,888,234 13.7% Several neighborhoods saw average sold prices rise Average Sold Price $4,864,299 $5,752,535 18.3% over the last year. In the town of Telluride, luxury listings closed for 14% higher prices, reaching an average sold % Sold Price to List Price 94.0% 100.1% 6.5% price of $5,448,435. In the Surrounding Mesas area, Total Dollar Volume $321,043,743 $494,718,000 54.1% which includes Deep Creek Mesa, Hastings Mesa, Iron San Miguel County Springs/Horsefly Mesa, Specie Mesa, Sunshine Mesa, Turkey Creek Mesa, and Wilson Mesa, sold prices rose by 45%, reaching an average sold price of $7,075,132.
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 October 5, 2021. Telluride Association of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Telluride Association of Realtors® may not reflect all real estate activity in the market.does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.
+ $3,000,000 Sales
35
The average price per square foot in the Town of Telluride increased by 43.6% January through September 2021 compared to that of 2020.
SURROUNDING MESAS 36
2020
2021
% Change
38
23
-39.5%
$1,473
$2,115
43.6%
531
195
-63.3%
$11,200,000
$14,500,000
29.5%
Average List Price
$5,168,868
$5,451,261
5.5%
Average Sold Price
$4,787,246
$5,448,435
13.8%
94.0%
109.0%
16.0%
$181,915,350
$125,314,000
-31.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
All Properties
MOUNTAIN VILLAGE
TOWN OF TELLURIDE
43.6%
January through September
January through September
2020
2021
% Change
23
41
78.3%
$815
$959
17.6%
357
359
0.6%
$7,900,000
$10,500,000
32.9%
Average List Price
$4,941,474
$5,288,685
7.0%
Average Sold Price
$4,722,974
$5,144,549
8.9%
96.0%
97.5%
1.6%
$108,628,393
$210,926,500
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
94.2% All Properties
60.1%
The average list price in the surrounding mesas increased by 60.1% January through September 2021 compared to that of 2020.
January through September
2020
2021
% Change
29
19
-34.5%
$789
$1,552
96.7%
361
326
-9.7%
Highest Price
$9,040,000
$39,500,000
336.9%
Average List Price
$4,584,652
$7,340,947
60.1%
Average Sold Price
$4,879,215
$7,075,132
45.0%
87.2%
96.2%
10.3%
$59,685,415
$139,478,000
133.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% 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
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37
WHY COLORADO?
04
NATIONAL PARKS
38
07
MOUNTAIN RANGES
28
SKI AREAS & RESORTS
300
AVG DAYS OF SUNSHINE ANNUALY
350+ CRAFT BREWERIES
39
40