Residential Luxury Report | Year End 2021

YEAR-END 2021

Luxury Report

6729 Bear Point Way, Golden

9829 Shoreline Drive, Longmont

1

RESIDENTIAL LUXURY REPORT INTRODUCTION

Following the tidal wave of real estate activity in 2020, Colorado’s housing market sustained much of its momentum through 2021. With consumers still looking to find homes and communities that will help them create the life they love, many markets across the state have seen an uptick in luxury homebuying. The strength of the market in 2021 is a good indicator that this year may also yield some incredible opportunities for buyers and sellers to find their dream home in Colorado.

LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a quarterly Residential Luxury Report that measures the performance of luxury real estate markets in some of Colorado’s most popular communities.

The statistics in this report, comparing January through December of 2021 to the same time frame in 2020, 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

The luxury real estate market in Denver Metro continues to show its strength through an increase in homebuying activity year-over-year.

In the six-county Denver Metro area, the number of luxury listings sold rose by 59.9% in 2021 compared to 2020 – totaling 4,200. Overall, the average sale price of high-end listings in the area appreciated by 3.7%, bringing the average price for luxury listings in Denver Metro to $1,613,563. This combination of rising home sales and sale prices contributed to the impressive 65.7% increase in total dollar volume sold, which reached $6,776,964,868 last year.

Several individual neighborhoods within Denver Metro saw significant improvements in buying activity in 2021. The Huntington Trails/ Lexington neighborhood saw the largest increase in luxury home sales, growing by 66.7%. The City of Denver had a total of 2,051 luxury home sales in 2021, a 65.9% increase over 2020 and the most in the Denver Metro area. Meanwhile, the Washington Park East/Central neighborhood had the second-highest number of luxury real estate sales, reaching 146 homes sold in 2021.

DENVER METRO

The demand for Denver Metro homes combined with low levels of inventory influenced an appreciation of average sale prices for many neighborhoods. In Polo Reserve, the average sale price for luxury properties rose by 40.7% to reach $2,899,375. Properties in Cherry Hills Village on more than one acre of land had the highest average sale price, selling for an average of $4,264,858. Conversely, luxury homes in the Mayfair/Montclair neighborhood had the lowest average sale price. Properties in this area closed for an average price of $1,352,158 in 2021.

January through December

2020

2021

% Change

# of Properties Sold

2,627

4,200

59.9%

Average Price Per Square Foot

$455

$503

10.5%

53

27

-49.1%

Highest Price

$9,450,000

$15,725,000

66.4%

Average List Price

$1,630,700

$1,532,004

-6.1%

Average Sale Price

$1,556,574

$1,613,563

3.7%

96.4%

100.0%

3.7%

$4,089,121,085

$6,776,964,868

65.7%

Average Days on Market

% Sold Price to List Price Total Dollar Volume

The real estate market in Denver Metro picked up its pace Counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson in 2021 compared to 2020. Properties in the City of Denver remained on the market for 31% less time last year, leaving many homes available to buyers for just 29 days. Ken Caryl North Ranch experienced the most significant decrease in average days on market, dipping from 51 days in 2020 to seven days in 2021 – an 86.3% difference. In Bow Mar/Bow Mar South, luxury homes spent an average of 19 days on the market, which is 62.7% less time than during 2020.

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 December

2020

2021

% Change

# of Properties Sold

1,236

2,051

65.9%

Average Price Per Square Foot

$538

$604

12.3%

42

29

-31.0%

$8,000,000

$9,000,000

12.5%

Average List Price

$1,691,257

$1,589,278

-6.0%

Average Sale Price

$1,564,014

$1,617,294

3.4%

96.6%

101.1%

4.6%

$1,933,120,876

$3,317,070,105

71.6%

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

46.0% The total dollar volume in Bonnie Brae/ Belcaro increased by 46.0% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

52

62

19.2%

$577

$717

24.2%

39

15

-61.5%

$3,875,000

$5,000,000

29.0%

Average List Price

$1,710,661

$2,003,950

17.1%

Average Sale Price

$1,676,445

$2,053,317

22.5%

95.5%

102.7%

7.6%

$87,175,130

$127,305,670

46.0%

# 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

62.7%

The average days on market in Bow Mar/Bow Mar South decreased by 62.7% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

20

8

-60.0%

$514

$687

33.7%

51

19

-62.7%

$2,922,800

$5,400,000

84.8%

Average List Price

$1,699,875

$2,323,125

36.7%

Average Sale Price

$1,646,680

$2,317,125

40.7%

95.8%

99.7%

4.0%

$32,933,600

$18,537,000

-43.7%

# 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

2020

2021

% Change

97

125

28.9%

$667

$718

7.6%

49

41

-16.3%

$4,015,000

$7,625,000

89.9%

Average List Price

$1,817,968

$1,944,525

7.0%

Average Sale Price

$1,742,441

$1,966,840

12.9%

94.2%

97.0%

3.0%

$169,016,821

$245,855,011

45.5%

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

% Sold Price to List Price Total Dollar Volume

45.5% The total dollar volume in Cherry Creek North increased by 45.5% in 2021 compared to that of 2020.

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

2020

2021

% Change

55

60

9.1%

$593

$722

21.8%

104

71

-31.7%

Highest Price

$9,450,000

$15,725,000

66.4%

Average List Price

$3,392,064

$4,354,017

28.4%

Average Sale Price

$3,237,613

$4,264,858

31.7%

93.0%

98.4%

5.8%

$178,068,733

$255,891,485

43.7%

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

% 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

71

66

-7.0%

$490

$621

26.6%

27

26

-3.7%

Highest Price

$5,500,000

$5,000,000

-9.1%

Average List Price

$2,029,232

$2,738,900

35.0%

Average Sale Price

$1,990,566

$2,760,393

38.7%

96.3%

99.6%

3.5%

$141,330,211

$182,185,950

28.9%

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

% Sold Price to List Price Total Dollar Volume

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

The highest priced home in Cherry Hills Village (over 1 acre) increased by 66.4% in 2021 compared to that of 2020.

CHERRY HILLS VILLAGE

January through December

66.4%

CHERRY HILLS VILLAGE

January through December

CHERRY CREEK NORTH

January through December

5

COLUMBINE VALLEY

78.7%

The average days on market in Columbine Valley decreased by 78.7% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

32

33

3.1%

$474

$520

9.7%

61

13

-78.7%

$3,700,000

$3,500,000

-5.4%

Average List Price

$1,527,634

$1,799,989

17.8%

Average Sale Price

$1,504,676

$1,818,628

20.9%

97.5%

100.5%

3.1%

$48,149,616

$60,014,737

24.6%

# 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 December

2020

2021

% Change

17

24

41.2%

$711

$759

6.7%

62

65

4.8%

Highest Price

$6,800,000

$6,075,000

-10.7%

Average List Price

$3,665,529

$3,222,667

-12.1%

Average Sale Price

$3,437,941

$3,199,401

-6.9%

93.3%

97.9%

4.9%

$58,445,000

$76,785,633

31.4%

# 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

17.5%

The average price per square foot in Crestmoor increased by 17.5% in 2021 compared to that of 2020.

January through December

th

2020

2021

% Change

30

23

-23.3%

$501

$588

17.5%

40

16

-60.0%

Highest Price

$3,355,000

$3,500,000

4.3%

Average List Price

$2,045,533

$1,747,304

-14.6%

Average Sale Price

$1,959,870

$1,837,436

-6.2%

95.1%

104.5%

9.9%

$58,796,100

$42,261,018

-28.1%

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

% Sold Price to List Price Total Dollar Volume

Boundaries: Holly to Monaco; Bayaud to 6th Avenue

6

2020

2021

% Change

31

36

16.1%

$414

$476

15.0%

28

20

-28.6%

Highest Price

$2,119,350

$2,310,000

9.0%

Average List Price

$1,509,193

$1,587,042

5.2%

Average Sale Price

$1,489,244

$1,602,380

7.6%

97.7%

100.3%

2.7%

$46,166,550

$57,685,667

25.0%

# 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 December

Boundaries: I-25 to Havana; Belleview to Orchard

2020

2021

% Change

16

18

12.5%

$482

$609

26.2%

46

30

-34.8%

$4,000,000

$7,428,000

85.7%

Average List Price

$2,517,125

$3,555,722

41.3%

Average Sale Price

$2,494,724

$3,413,539

36.8%

95.7%

96.9%

1.3%

$39,915,582

$61,443,700

53.9%

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

% Sold Price to List Price Total Dollar Volume

53.9% The total dollar volume in Greenwood Village West (over 1 acre) increased by 53.9% in 2021 compared to that of 2020.

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

2020

2021

% Change

90

59

-34.4%

$469

$593

26.5%

42

19

-54.8%

$3,998,000

$4,500,000

12.6%

Average List Price

$1,944,341

$2,335,112

20.1%

Average Sale Price

$1,901,288

$2,355,648

23.9%

96.5%

102.0%

5.6%

$171,115,891

$138,983,220

-18.8%

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

% Sold Price to List Price Total Dollar Volume

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

23.9% The average sale price in Greenwood Village West (under 1 acre) increased by 23.9% in 2021 compared to that of 2020.

GREENWOOD VILLAGE WEST

January through December

GREENWOOD VILLAGE WEST

January through December

7

January through December

2020

2021

% Change

82

96

17.1%

$525

$601

14.5%

58

21

-63.8%

$3,900,000

$4,500,000

15.4%

Average List Price

$1,956,524

$1,952,114

-0.2%

Average Sale Price

$1,894,398

$1,969,865

4.0%

94.0%

100.2%

6.6%

$155,340,671

$189,107,035

21.7%

# 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

66.6% The total dollar volume in Huntington Trails/Lexington increased by 66.6% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

9

15

66.7%

$346

$368

6.5%

37

66

78.4%

Highest Price

$2,700,000

$1,807,500

-33.1%

Average List Price

$1,495,989

$1,468,927

-1.8%

Average Sale Price

$1,450,833

$1,450,633

0.0%

93.1%

97.7%

5.0%

$21,759,500

66.6%

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

% Sold Price to List Price

$13,057,500

Total Dollar Volume

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

86.3% The average days on market in Ken Caryl North Ranch decreased by 86.3% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

15

21

40.0%

$332

$420

26.5%

51

7

-86.3%

Highest Price

$1,575,000

$2,225,000

41.3%

Average List Price

$1,298,800

$1,550,619

19.4%

Average Sale Price

$1,275,700

$1,585,238

24.3%

96.4%

102.0%

5.8%

$19,135,500

$33,290,000

74.0%

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

% Sold Price to List Price Total Dollar Volume

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

2020

2021

% Change

46

56

21.7%

$463

$504

9.0%

37

12

-67.6%

Highest Price

$2,372,000

$1,967,500

-17.1%

Average List Price

$1,328,423

$1,315,389

-1.0%

Average Sale Price

$1,323,791

$1,352,158

2.1%

99.2%

101.4%

2.2%

$60,894,400

$75,720,828

24.3%

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

% Sold Price to List Price Total Dollar Volume

67.6%

The average days on market in Mayfair/Montclair decreased by 67.6% in 2021 compared to that of 2020.

Boundaries: Colorado to Quebec; 6th to Colfax

2020

2021

% Change

70

76

8.6%

$481

$600

24.7%

45

35

-22.2%

$3,300,000

$3,870,000

17.3%

Average List Price

$1,823,499

$2,159,435

18.4%

Average Sale Price

$1,772,933

$2,167,404

22.2%

95.7%

98.4%

2.7%

$124,105,289

$164,722,735

32.7%

# 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 December

Boundaries: University to Colorado; Evans to Yale

January through December

2021

% Change

7

8

14.3%

$419

$526

25.7%

79

53

-32.9%

$3,700,000

$3,925,000

6.1%

Average List Price

$2,111,286

$3,072,500

45.5%

Average Sale Price

$2,050,471

$2,899,375

41.4%

94.3%

96.4%

2.2%

$14,353,300

$23,195,000

61.6%

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

% Sold Price to List Price Total Dollar Volume

Boundaries: North of Mineral; South of Arabian Place; West of the S Platte River; East of S. Platte Canyon Road

45.5% The average list price in Polo Reserve increased by 45.5% in 2021 compared to that of 2020.

POLO RESERVE

2020

MAYFAIR/MONTCLAIR

January through December

9

SPRUCE MEADOWS WASHINGTON PARK EAST/CENTRAL

10

78.6%

The average days on market in Spruce Meadows decreased by 78.6% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

9

6

-33.3%

$478

$559

17.0%

56

12

-78.6%

$3,500,000

$2,720,000

-22.3%

Average List Price

$2,315,519

$2,047,500

-11.6%

Average Sale Price

$2,285,274

$2,060,833

-9.8%

96.4%

100.9%

4.5%

$20,567,467

$12,365,000

-39.9%

# 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 December

2020

2021

% Change

129

146

13.2%

$648

$776

19.8%

39

20

-48.7%

Highest Price

$3,425,000

$4,450,000

29.9%

Average List Price

$1,838,966

$1,864,699

1.4%

Average Sale Price

$1,796,958

$1,930,690

7.4%

96.2%

102.7%

6.8%

$231,807,523

$281,880,711

21.6%

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

% Sold Price to List Price Total Dollar Volume

Boundaries: Louisiana to Ellsworth, Ogden to University

SOUTH METRO LUXURY MARKET Colorado’s South Metro community is filled with opportunities for luxury homebuyers and sellers to reach their real estate and lifestyle goals. It seems as though many buyers found their dream homes last year as the number of high-end properties sold in Douglas County increased by an impressive 83.7%, growing from 578 luxury homes sold in 2020 to 1,062 luxury homes sold last year. The average price of those homes sold also rose, increasing by 5.3% to reach an average price of $1,536,988 in 2021. These two factors played a role in the incredible 93.5% rise in total dollar volume sold, which reached $1,632,281,620 last year.

SOUTH METRO

January through December

Looking at individual neighborhoods within South Metro, there are specific areas that stand out as priority destinations for luxury homebuyers and areas of opportunity for sellers. The Village at Castle Pines had the most luxury homes sold, totaling 98 sales during 2021. Heritage Estates saw the most significant growth in the amount of luxury real estate sold, rising 120% over the previous year. In this neighborhood, luxury home sales rose from five listings sold to 11 listings sold in a year-over-year comparison.

2020

2021

% Change

578

1,062

83.7%

$405

$437

7.9%

77

33

-57.1%

$5,925,000

$12,500,000

111.0%

Average List Price

$1,499,439

$1,532,431

2.2%

Average Sale Price

$1,459,381

$1,536,988

5.3%

95.9%

100.2%

4.5%

$843,522,345

$1,632,281,620

93.5%

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

% Sold Price to List Price Total Dollar Volume

The average sale price for many South Metro Douglas County neighborhoods rose in 2021, thanks to the strong demand for luxury homes in this community. In Ravenna, the average sale price rose by an impressive 36% to reach $2,613,835 – the highest average sale price reported in the South Metro area last year. Luxury homes in The Village at Castle Pines also experienced price appreciation, rising by 18.2% to reach $1,869,588.

High-end homes in Falcon Hills offered slightly lower prices, with an average sale price of $1,433,000 in 2021.

In addition to the appreciation of home values in South Metro, the speed of the market also increased as more buyers entered the local housing market. Homes in Backcountry sold most quickly last year, spending an average of eight days on the market, which is 82.6% less time than the area’s average days on market in 2020. In Castle Pines, luxury homes spent an average of 42 days on market in 2021, down from 91 days during the previous year.

Based on $1,000,000+ sales in Douglas County. Based on information from REColorado. This representation is based in whole or in part on data supplied from REColorado on 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

93.0%

The total dollar volume in Backcountry increased by 93.0% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

51

88

72.5%

$372

$447

20.2%

46

8

-82.6%

$3,000,000

$2,725,000

-9.2%

Average List Price

$1,363,148

$1,480,139

8.6%

Average Sale Price

$1,335,109

$1,493,357

11.9%

95.8%

100.2%

4.7%

$68,090,563

$131,415,450

93.0%

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

% Sold Price to List Price Total Dollar Volume

HERITAGE ESTATES

FALCON HILLS

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

12

6.8%

The average price per square foot in Falcon Hills increased by 6.8% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

10

5

-50.0%

$317

$372

17.4%

35

23

-34.3%

Highest Price

$1,605,000

$1,650,000

2.8%

Average List Price

$1,361,300

$1,366,900

0.4%

Average Sale Price

$1,328,450

$1,433,000

7.9%

95.9%

103.5%

7.8%

$13,284,500

$7,165,000

-46.1%

2020

2021

% Change

5

11

120.0%

$340

$450

32.4%

158

67

-57.6%

Highest Price

$1,860,000

$2,500,000

34.4%

Average List Price

$1,644,380

$1,742,909

6.0%

Average Sale Price

$1,563,465

$1,759,000

12.5%

89.1%

100.1%

12.4%

$7,817,324

$19,349,000

147.5%

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

% Sold Price to List Price Total Dollar Volume

147.5% The total dollar volume in Heritage Estates increased by 147.5% in 2021 compared to that of 2020.

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

% Sold Price to List Price Total Dollar Volume

2020

2021

% Change

29

52

79.3%

$383

$414

8.0%

49

32

-34.7%

Highest Price

$1,989,428

$2,925,000

47.0%

Average List Price

$1,439,738

$1,525,743

6.0%

Average Sale Price

$1,410,546

$1,532,709

8.7%

95.8%

99.5%

3.9%

$40,905,832

$79,700,889

94.8%

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

% Sold Price to List Price Total Dollar Volume

January through December

2021

% Change

13

18

38.5%

$397

$466

17.4%

38

15

-60.5%

$2,550,000

$3,270,000

28.2%

Average List Price

$1,374,192

$1,573,461

14.5%

Average Sale Price

$1,337,815

$1,576,111

17.8%

96.5%

99.2%

2.8%

$17,391,600

$28,370,000

63.1%

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

% Sold Price to List Price Total Dollar Volume

60.5% The average days on market in Keene Ranch decreased by 60.5% in 2021 compared to that of 2020.

KEENE RANCH

2020

HERITAGE HILLS

January through December

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

January through December

2021

% Change

23

17

-26.1%

$686

$749

9.2%

110

112

1.8%

$3,047,125

$4,100,000

34.6%

Average List Price

$1,980,849

$2,692,300

35.9%

Average Sale Price

$1,922,468

$2,613,835

36.0%

99.5%

96.7%

-2.8%

$44,216,757

$44,435,200

0.5%

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

% Sold Price to List Price Total Dollar Volume

36.0% The average sale price in Ravenna increased by 36.0% in 2021 compared to that of 2020.

RAVENNA

2020

Boundaries: Colorado to Quebec; 6th to Colfax

13

SPIRIT RIDGE

30.2%

The average sale price in Spirit Ridge increased by 30.2% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

8

6

-25.0%

$324

$388

19.8%

81

179

121.0%

Highest Price

$1,875,844

$2,265,000

20.7%

Average List Price

$1,290,537

$1,592,915

23.4%

Average Sale Price

$1,233,543

$1,606,667

30.2%

95.9%

95.6%

-0.2%

$9,868,344

$9,640,000

-2.3%

2020

2021

% Change

99

98

-1.0%

$422

$522

23.7%

91

42

-53.8%

$5,500,000

$4,295,000

-21.9%

Average List Price

$1,640,479

$1,869,971

14.0%

Average Sale Price

$1,581,627

$1,869,588

18.2%

94.2%

100.1%

6.3%

$156,581,117

$183,219,626

17.0%

# 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

Boundaries: University to Colorado; Evans to Yale

14

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

% 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 In the Foothills, luxury homes offer a unique blend of nearness to nature and easy access to Denver. This rare combination creates intense demand for luxury properties within this picturesque community, which can be seen through the impressive increases in real estate activity in 2021 in comparison to the previous year. Here, the number of luxury homes sold increased by 109.9% – totaling 932 high-end homes sold in 2021. The rise in sales volume last year was accompanied by an appreciation in the average sale price, which rose by 6.4% to bring the average sale price to $1,462,882. This increase was also influenced by the record-breaking, $9,500,000 sale of a listing represented by LIV Sotheby’s International Realty brokers, which was the highest-priced sale in the area.

Various neighborhoods within the Foothills saw encouraging increases in the number of luxury homes sold in 2021. In Genesee, there was a 75% increase in luxury sales, growing from 20 homes sold in 2020 to 35 homes sold in 2021. Ridge at Hiwan also experienced a boost in luxury home sales, rising from 21 sales to 25 last year – a 19% increase.

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

2020

2021

% Change

444

932

109.9%

$399

$465

16.4%

57

25

-56.1%

As more homebuyers decided to move to the Foothills, Highest Price $3,800,000 $9,500,000 150.0% the increased demand and low inventory resulted in an Average List Price $1,414,609 $1,450,460 2.5% appreciation of the average price for houses in many Average Sale Price $1,374,968 $1,462,882 6.4% neighborhoods. The most significant increase was observed in % Sold Price to List Price 95.8% 101.5% 5.9% Spring Ranch, where the average sale price for luxury homes Total Dollar Volume $610,485,720 $1,363,406,276 123.3% rose by 49.3% to reach $2,084,000 last year. Soda Creek finished 2021 with the highest average price out of all Foothills communities. Luxury homes in this neighborhood sold for an average price of $2,217,117. Homes in Riva Chase sold for 12.4% more in 2021 than in 2020, with luxury homes selling for an average price of $1,346,324 – making it the most affordable area for luxury real estate in the Foothills.

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 December

2020

2021

% Change

20

35

75.0%

$418

$487

16.7%

56

20

-64.3%

$3,300,000

$2,384,000

-27.8%

Average List Price

$1,510,800

$1,454,600

-3.7%

Average Sale Price

$1,430,275

$1,473,284

3.0%

93.8%

101.2%

7.9%

$28,605,500

$51,564,950

80.3%

# 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

65.6%

The average days on market in Hangen Ranch decreased by 65.6% in 2021 compared to that of 2020.

86.9% The highest priced home in Ridge at Hiwan increased by 86.9% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

3

4

33.3%

$663

$679

2.4%

32

11

-65.6%

Highest Price

$2,926,000

$1,922,222

-34.3%

Average List Price

$2,016,000

$1,477,500

-26.7%

Average Sale Price

$1,936,333

$1,506,181

-22.2%

98.6%

103.3%

4.8%

$5,809,000

$6,024,722

3.7%

2020

2021

% Change

21

25

19.0%

$356

$424

19.2%

61

8

-86.9%

$1,685,000

$2,600,000

54.3%

Average List Price

$1,291,381

$1,446,488

12.0%

Average Sale Price

$1,245,405

$1,477,514

18.6%

94.5%

102.3%

8.3%

$26,153,500

$36,937,850

41.2%

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

% Sold Price to List Price Total Dollar Volume

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

% Sold Price to List Price Total Dollar Volume

January through December

8

8

0.0%

$312

$441

41.6%

102

90

-11.8%

$1,370,000

$1,850,000

35.0%

Average List Price

$1,231,113

$1,378,500

12.0%

Average Sale Price

$1,198,250

$1,346,324

12.4%

93.4%

96.5%

3.4%

$9,586,000

$10,770,591

12.4%

2020

2021

% Change

19

15

-21.1%

$414

$483

16.6%

131

39

-70.2%

Highest Price

$3,450,000

$4,775,150

38.4%

Average List Price

$2,005,684

$2,324,733

15.9%

Average Sale Price

$1,868,782

$2,217,117

18.6%

90.1%

94.6%

5.0%

$35,506,850

$33,256,750

-6.3%

2020

2021

% Change

6

5

-16.7%

$361

$527

45.8%

120

21

-82.5%

Highest Price

$1,675,000

$2,495,000

49.0%

Average List Price

$1,418,583

$2,146,980

51.3%

Average Sale Price

$1,395,667

$2,084,000

49.3%

94.5%

95.1%

0.6%

$8,734,000

$10,420,000

19.3%

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

% Sold Price to List Price Total Dollar Volume

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

% Sold Price to List Price Total Dollar Volume

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

% Sold Price to List Price Total Dollar Volume

35.0%

The highest priced home in Riva Chase increased by 35.0% in 2021 compared to that of 2020.

82.5%

The average days on market in Spring Ranch decreased by 82.5% in 2021 compared to that of 2020.

SPRING RANCH

% Change

SODA CREEK

2021

RIVA CHASE

2020

17

BOULDER

LUXURY MARKET

Boulder County, a place where exciting city amenities and outdoor adventures meet, is a natural choice for homebuyers looking for an elevated take on Colorado living. Comparing 2021 to 2020, there were 57.4% more high-end home sales in this popular real estate destination. The demand for local luxury listings and low levels of inventory played a role in the appreciating sale prices last year. In 2021, the average sale price for luxury homes in Boulder County was $1,797,761, which was 7.5% higher than the average sale price in 2020. The same desire for luxury homes in the area helped accelerate the speed of the market, decreasing the average time listings spent on the market from 87 days in 2020 to 66 days last year – a 24.1% decrease.

BOULDER

Many neighborhoods within Boulder County saw similar

January through December

increases in real estate activity during 2021. Downtown Boulder

# of Properties Sold

experienced the most significant increase in the number of luxury homes sold, rising by 68.8% from 16 homes sold in 2020 to 27 homes sold in 2021. The City of Boulder had the most high-end real estate sales within the county, finishing the year with 830 luxury homes sold.

Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume

2020

2021

% Change

741

1,166

57.4%

87

66

-24.1%

$8,000,000

$8,150,000

2.0%

$1,672,117

$1,797,761

7.5%

97.3%

100.3%

3.1%

$1,239,038,411

$2,096,189,362

69.2%

Over the course of the year, home prices in many

Boulder County

neighborhoods trended upwards as well. While Downtown Boulder had the lowest average sale price within Boulder County’s luxury home market, this area saw the most appreciation in 2021. Luxury properties here increased in price by 12.8% compared to 2020 to reach an average price of $1,710,907. The University Hill and Chautauqua neighborhood had the highest average sale price for the year, with homes selling for an average price of $1,954,290 – 0.5% higher than 2020.

The pace of the market increased the most in the Boulder County Plains, which includes communities such as Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, and Spanish Hills. Here, the average time that luxury listings spent on the market decreased by 37.2%, bringing the average time to 71 days on market. The area in which luxury homes spent the least amount of time on the market in Boulder County was the City of Boulder, where the average number of days on market was 65 in 2021.

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

540

830

53.7%

77

65

-15.6%

$8,000,000

$7,900,000

-1.3%

$1,752,745.35

$1,878,316

7.2%

97.4%

100.2%

2.9%

$946,482,491

$1,559,001,905

64.7%

2020

2021

% Change

# of Properties Sold

192

260

35.4%

Average Days on Market

113

71

-37.2%

$4,000,000

$8,150,000

103.8%

$2,636,961

$1,803,883

-31.6%

96.4%

99.9%

3.7%

$297,976,592

$469,009,666

57.4%

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

January through December

Highest Price Average Sold Price % 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

16

27

68.8%

Average Days on Market

97

90

-7.2%

$2,600,000

$4,000,000

53.8%

$1,516,890

$1,710,907

12.8%

96.4%

96.4%

0.0%

$24,270,247

$46,194,500

90.3%

Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume

The total dollar volume in Boulder County Plains increased by 57.4% in 2021 compared to that of 2020.

DOWNTOWN BOULDER

January through December

57.4%

BOULDER COUNTY PLAINS

2020

BOULDER (CITY)

January through December

19

FOOTHILLS COMMUNITIES UNIVERSITY HILL & CHAUTAUQUA 20

68.9% The total dollar volume in the Foothills Communities increased by 68.9% in 2021 compared to that of 2020.

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

2020

2021

% Change

477

750

57.2%

75

67

-10.7%

$8,000,000

$7,900,000

-1.3%

$1,776,113

$1,907,757

7.4%

97.4%

99.9%

2.5%

$847,206,055

$1,430,818,036

68.9%

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

January through December

2020

2021

% Change

# of Properties Sold

57

94

64.9%

Average Days on Market

80

68

-15.0%

$6,800,000

$4,400,000

-35.3%

$1,945,399

$1,954,290

0.5%

96.7%

99.1%

2.5%

$110,887,734

$183,703,246

65.7%

Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume

COLORADO SPRINGS LUXURY MARKET Throughout 2021, Colorado Springs proved to be a top destination for homebuyers looking for luxury properties and an unbeatable lifestyle.

LIV Sotheby’s International Realty reports that there was a 120% increase in the number of luxury homes sold within El Paso and Teller Counties last year in comparison to 2020. Overall, there were 429 high-end homes sold. The average sale price of those homes rose by 5.4% to reach $1,431,399. The highest-priced sale of the year, which was represented by LIV Sotheby’s International Realty brokers, sold for the record-breaking price of $8,000,000. This data helps illustrate the demand for luxury real estate in the Pikes Peak Region.

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 Flying Horse, where luxury home sales rose from 12 sales in 2020 to 34 sales in 2021 – a 183.3% increase. Monument saw the highest number of luxury homes sales last year with a total of 126.

COLORADO SPRINGS January through December Properties Sold Average Price Per Square Foot

Just as the number of homes sold rose in many areas of the Pikes Peak Region, so did the average sale price. Increased demand for properties in Black Forest influenced an 18.3% appreciation in the average sale price, bringing the price to $1,419,935. The ever-popular Broadmoor neighborhood had the highest average sale price last year, with luxury homes selling for $1,676,267 on average. In 2021, Monument home prices stabilized, increasing by just 0.3% to an average price of $1,275,988 – the lowest average sale price in the area.

Average Days on Market Highest Price Average List Price Average Sales Price % Sold Price to List Price Total Dollar Volume

2020

2021

% Change

195

429

120.0%

$225

$266

18.2%

77

49

-36.4%

$6,700,000

$8,000,000

19.4%

$1,430,761

$1,477,820

3.3%

$1,358,002

$1,431,399

5.4%

96.7%

99.0%

2.4%

$264,810,390

$614,070,171

131.9%

While the average days on market for both El Paso and Teller Counties was 49 days last 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 26 days in 2021, and homes in Monument had an average time on market of 37 days.

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

101.9% The total dollar volume in Black Forest increased by 101.9% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

51

87

70.6%

$220

$273

24.1%

108

40

-63.0%

Highest Price

$2,385,000

$2,850,000

19.5%

Average List Price

$1,275,000

$1,454,379

14.1%

Average Sales Price

$1,200,000

$1,419,935

18.3%

96.9%

99.4%

2.6%

$61,200,000

$123,534,345

101.9%

2020

2021

% Change

49

101

106.1%

$232

$274

18.1%

49

53

8.2%

$2,900,000

$8,000,000

175.9%

Average List Price

$1,569,694

$1,760,753

12.2%

Average Sales Price

$1,434,025

$1,676,267

16.9%

94.6%

98.5%

4.1%

$70,267,225

$169,302,967

140.9%

2020

2021

% Change

12

34

183.3%

$226

$267

18.1%

36

26

-27.8%

$2,650,000

$3,800,000

43.4%

Average List Price

$1,381,996

$1,383,743

0.1%

Average Sales Price

$1,347,380

$1,385,343

2.8%

97.7%

100.0%

2.4%

$16,168,560

$47,101,662

191.3%

Properties Sold Average Price Per Square Foot Average Days on Market

% Sold Price to List Price Total Dollar Volume

191.4%

The total dollar volume in Broadmoor increased by 191.4% in 2021 compared to that of 2020.

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

% Sold Price to List Price Total Dollar Volume

183.3%

The number of properties sold in Flying Horse increased by 183.3% in 2021 compared to that of 2020.

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

% Sold Price to List Price Total Dollar Volume

2021

% Change

16

19

18.8%

$246

$331

34.6%

72

52

-27.8%

$2,750,000

$3,800,000

38.2%

$1,379,681

$1,547,632

12.2%

$1,325,000

$1,510,366

14.0%

96.7%

100.2%

3.6%

$21,200,000

$28,696,954

35.4%

2020

2021

% Change

56

126

125.0%

$215

$242

12.6%

86

37

-57.0%

$2,500,000

$2,500,000

0.0%

Average List Price

$1,316,134

$1,291,981

-1.8%

Average Sales Price

$1,272,534

$1,275,988

0.3%

98.0%

100.0%

2.0%

$71,261,904

$160,774,488

125.6%

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

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

% Sold Price to List Price Total Dollar Volume

125.6%

The total dollar volume in Monuent increased by 125.6% in 2021 compared to that of 2020.

MONUMENT

2020

KISSING CAMELS

January through December

23

GRAND COUNTY LUXURY MARKET Featuring Colorado’s deepest natural lake, Grand County offers beautiful mountain views, waterfront properties, and incredible skiing. In 2021, the luxury real estate market in this one-of-a-kind community experienced a 56.8% boost in the number of luxury homes sold in comparison to 2020. Although the average sale price for high-end homes in this region dipped slightly by 2.6%, which brought the average sale price to $1,588,636, the total dollar volume sold rose by 52.7% thanks to the significant rise in luxury real estate sales.

The upward trend in luxury real estate activity can also be seen in several individual communities within Grand County. One of the most significant increases in home sales in 2021 was seen in the town of Grand Lake. Here, there were 28 luxury single family homes sold last year – a 133.3% increase from 2020. Fraser had the highest number of luxury single family home sales in 2021,

GRAND COUNTY 2020

2021

% Change

# of Properties Sold

118

185

56.8%

Average Days on Market

140

129

-7.9%

Highest Price

$6,233,370

$4,600,000

-26.2%

as Winter Park. The average sale price for luxury single

Average List Price

$1,695,508

$1,592,463

-6.1%

family homes in this community increased by 13% to reach

Average Sold Price

$1,631,107

$1,588,636

-2.6%

$2,000,830, which was the highest average price within

% Sold Price to List Price

96.6%

100.8%

4.3%

Grand County’s luxury real estate market last year. Homes

Total Dollar Volume

$192,470,681

$293,897,741

52.7%

totaling 48 properties sold.

In 2021, sellers putting their homes on the market benefitted from appreciation average sale prices in communities such

January through December

in Fraser and Tabernash also rose in average sale price, increasing by 12% and 2.6% respectively. Luxury homebuyers looking for more affordability in Grand County may have found the mountain home of their dreams in Kremmling where the average sale price was $1,150,000 in 2021.

The pace of the market in most neighborhoods throughout Grand County accelerated in 2021 compared to 2020. Luxury single family homes in Winter Park moved off the market the quickest, averaging 71 days on market last year. Grand Lake followed closely behind, with luxury homes remaining on the market for an average of 79 days. The most significant increase in market speed was seen in Granby, where the average days on market in 2021 decreased by 56.8% compared to 2020, leaving luxury properties on the market for 82 days.

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 December

2021

% Change

34

48

41.2%

177

176

-0.6%

Highest Price

$3,710,000

$4,100,000

10.5%

Average List Price

$1,637,582

$1,744,586

6.5%

Average Sold Price

$1,568,363

$1,757,226

12.0%

96.7%

102.0%

5.5%

$53,324,364

$84,346,854

58.2%

# of Properties Sold Average Days on Market

% Sold Price to List Price Total Dollar Volume

58.2%

The total dollar volume in Fraser increased by 58.2% in 2021 compared to that of 2020.

FRASER

2020

Single Family Homes

January through December

2021

% Change

12

26

116.7%

190

82

-56.8%

Highest Price

$6,233,370

$4,430,000

-28.9%

Average List Price

$2,093,758

$1,506,612

-28.0%

Average Sold Price

$1,985,705

$1,508,932

-24.0%

94.5%

100.1%

5.9%

$23,828,460

$39,232,250

64.6%

# of Properties Sold Average Days on Market

% Sold Price to List Price Total Dollar Volume

116.7% The number of properties sold in Granby increased by 116.7% in 2021 compared to that of 2020.

GRANBY

2020

All Properties

January through December

2021

% Change

12

28

133.3%

138

79

-42.8%

$3,675,000

$4,600,000

25.2%

Average List Price

$1,877,750

$1,652,357

-12.0%

Average Sold Price

$1,771,833

$1,633,098

-7.8%

93.0%

99.4%

6.9%

$21,262,000

$45,726,750

115.1%

# of Properties Sold Average Days on Market Highest Price

% 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% in 2021 compared to that of 2020.

January through December

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 December

2020

2021

% Change

# of Properties Sold

30

21

-30.0%

Average Days on Market

79

110

39.2%

$2,895,000

$3,500,000

20.9%

Average List Price

$1,639,180

$1,636,229

-0.2%

Average Sold Price

$1,592,843

$1,634,119

2.6%

97.8%

101.8%

4.1%

$47,785,301

$34,316,500

-28.2%

Highest Price

% Sold Price to List Price Total Dollar Volume

WINTER PARK

All Properties

43.8%

The total dollar volume in Winter Park increased by 43.8% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

11

14

27.3%

120

71

-40.8%

$2,922,500

$2,899,000

-0.8%

Average List Price

$1,819,082

$2,099,429

15.4%

Average Sold Price

$1,770,844

$2,000,830

13.0%

97.8%

96.4%

-1.3%

$19,479,286

$28,011,625

43.8%

# of Properties Sold Average Days on Market Highest Price

% Sold Price to List Price Total Dollar Volume

Single Family Homes

26

SUMMIT COUNTY LUXURY MARKET With ample opportunities for year-round fun and adventure in addition to a resort lifestyle that offers the finer things in life, Summit County is an ideal location to invest in a second home or primary residence in Colorado. Last year, this beloved resort community saw a 63.2% boost in the number of luxury properties sold, reaching 248 high-end homes sold in 2021. The average price of those properties sold appreciated by 9.5% over 2020-levels, bringing the average sale price to $3,117,096 in 2021. Together, these improvements contributed to the impressive 78.6% increase in total January through December 2020 2021 % Change dollar volume sold, which totaled $773,039,705 last # of Properties Sold 152 248 63.2% year.

SUMMIT COUNTY

Average Price Per Square Foot Average Days on Market Within Summit County, several resort communities Highest Price saw increases in real estate activity that benefited both buyers and sellers. In Breckenridge, the number Average List Price of luxury single family properties sold rose by 39.2%, Average Sold Price from 102 homes sold in 2020 to 142 homes sold in % Sold Price to List Price 2021. The price of those residences appreciated by Total Dollar Volume 17.6%, which raised the average sale price in the area to $3,498,005 in 2021. Homes in this popular resort market sold in an average of 60 days.

$618

$773

25.1%

117

53

-54.7%

$7,000,000

$17,000,000

142.9%

$2,965,603

$3,192,838

7.7%

$2,846,851

$3,117,096

9.5%

96.4%

98.0%

1.6%

$432,721,352

$773,039,705

78.6%

In Keystone, another desirable community to buy and sell houses within, saw the number of luxury single family home sales rise by 55.6%, from nine homes sold in 2020 to 14 homes sold in 2021. The price of luxury residences in this area increased by 5.1% to reach an average sale price of $2,790,607 last year. Unlike Breckenridge, luxury homes in this community stayed on the market for more time last year than during 2020 – increasing 92.3% to an average of 50 days on market.

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 December

2020

2021

% Change

102

142

39.2%

$610

$749

22.9%

125

60

-52.0%

$7,000,000

$17,000,000

142.9%

Average List Price

$3,113,304

$3,595,902

15.5%

Average Sold Price

$2,973,851

$3,498,005

17.6%

96.0%

97.5%

1.6%

$303,332,805

$496,716,775

63.8%

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

% Sold Price to List Price Total Dollar Volume

COPPER MOUNTAIN

Single Family Homes

96.9% The average days on market in Copper Mountain decreased by 96.9% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

4

1

-75.0%

$583

$605

3.8%

129

4

-96.9%

$3,600,000

$3,850,000

6.9%

Average List Price

$3,253,750

$3,995,000

22.8%

Average Sold Price

$3,092,000

$3,850,000

24.5%

94.9%

96.4%

1.5%

$12,368,000

$3,850,000

-68.9%

# 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

January through December

KEYSTONE

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

2020

2021

% Change

9

14

55.6%

$500

$557

11.4%

26

50

92.3%

$3,322,000

$4,025,000

21.2%

$2,758,111

$2,843,857

3.1%

$2,654,389

$2,790,607

5.1%

96.2%

98.2%

2.1%

$23,889,500

$39,068,501

63.5%

Single Family Homes

28

CRESTED BUTTE LUXURY MARKET According to real estate data examining buying and selling activity in Crested Butte, located within Gunnison County, the luxury home market saw exciting increases in 2021. The number of luxury property sales within Gunnison County rose by 129.7% to reach a total of 85 high-end houses sold. The average sale price of those properties sold also increased. On average, homes in the area sold for $3,563,745 in 2021, which is 17.9% higher than the average sale price in 2020. Not only did the luxury real estate market see a boost in sales volume and price, but the pace of the market accelerated as well. Last year, the average days on market for homes in Gunnison County was 169 days, which is down 39.2% from 2020 when the average days on market was 278 days.

Taking a closer look at some of the specific communities within Gunnison County, it is clear that the uptick of real estate activity also applies to the individual communities within the area. In Crested Butte, the number of luxury single family homes sold rose by an astounding 300%, growing from five January through December 2020 2021 % Change homes sold in 2020 to 20 homes sold in 2021. The price for luxury houses in this area appreciated by 17.3% to # of Properties Sold 37 85 129.7% reach an average sale price of $3,041,300.

Average Price Per Square Foot $721 $855 18.7%

CRESTED BUTTE

In the Town of Crested Butte, there were 77.8% more luxury single family homes sold in 2021 than there were in 2020 – totaling 16 homes sold last year. Here, single family home prices in the luxury sector of the market rose by 14.7%, bringing the average sale price to $3,234,062.

278

169

-39.2%

Highest Price

$5,150,000

$27,000,000

424.3%

Average List Price

$3,350,864

$3,738,563

11.6%

Average Sale Price

$3,023,010

$3,563,745

17.9%

90.2%

95.3%

5.7%

$111,851,375

$302,918,400

170.8%

Average Days on Market

% Sold Price to List Price Total Dollar Volume

Rural Crested Butte, was the only area within Gunnison County’s luxury real estate market where the average sale price of homes did not increase. Here, the average sale price dipped slightly by 5.4%, bringing the average price to $2,958,811 in 2021. However, this community did experience an increase in the number of luxury single family homes sold, growing by 70.6% over 2020.

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 103.9% in 2021 compared to that of 2020.

RURAL CRESTED BUTTE 30

2020

2021

% Change

9

16

77.8%

$908

$1,114

22.7%

235

148

-37.0%

Highest Price

$3,900,000

$4,606,000

18.1%

Average List Price

$2,965,000

$3,316,812

11.9%

Average Sale Price

$2,819,586

$3,234,062

14.7%

95.1%

97.5%

2.5%

$25,376,275

$51,745,000

103.9%

# 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

103.9%

January through December

January through December

2020

2021

% Change

5

20

300.0%

$557

$687

23.3%

401

138

-65.6%

Highest Price

$3,500,000

$5,700,000

62.9%

Average List Price

$2,739,000

$3,163,200

15.5%

Average Sale Price

$2,592,620

$3,041,300

17.3%

94.7%

96.1%

1.6%

$12,963,100

$60,826,000

369.2%

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

% Sold Price to List Price Total Dollar Volume

Single Family Homes

70.6%

The number of properties sold in Rural Crested Butte increased by 70.6% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

17

29

70.6%

$651

$842

29.4%

274

183

-33.2%

Highest Price

$5,150,000

$5,625,000

9.2%

Average List Price

$3,614,882

$3,056,655

-15.4%

Average Sale Price

$3,126,911

$2,958,811

-5.4%

86.5%

96.8%

11.9%

$53,157,500

$85,805,540

61.4%

# 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 Known for its upscale lifestyle, world-class ski resorts, and stunning mountain scenery, the Vail Valley, which is situated within Eagle County, has been a favorite community for consumers seeking a luxury living experience in the Rocky Mountains. As a whole, the Vail Valley saw a significant rise in luxury homebuying activity during 2021. Compared to 2020, the area experienced a 65.4% boost in the number of high-end homes purchased, reaching a total of 296 luxury real estate sales. The average sale price for properties in this highly sought-after resort community in 2021 was $5,741,201, which is 4.8% lower than the average sale price in 2020 ($6,032,107).

Several communities within the Vail Valley experienced tremendous increases in the number of homes sold throughout 2021 compared to 2020. The most significant increase was recorded in the Vail Golf Course neighborhood where luxury home sales rose by 175%, from four homes sold in 2020 to 11 homes sold in 2021. The Beaver Creek and Mountain Star communities also saw sale volume rise by more than double, increasing by 110% and 150% respectively. While these increases are impressive, the Town of Vail had the most luxury home sales, reaching 119 homes sold in 2021 – a 45.1% increase over 2020.

VAIL VALLEY January through December

2020

2021

% Change

179

296

65.4%

$1,264

$1,407

11.3%

244

153

-37.3%

$29,750,000

$34,000,000

14.3%

Average List Price

$6,414,503

$5,990,360

-6.6%

Average Sale Price

$6,032,107

$5,741,201

-4.8%

94.5%

96.6%

2.2%

$1,079,747,230

$1,699,395,548

57.4%

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

% Sold Price to List Price Total Dollar Volume

Other areas of the Vail Valley experienced an appreciation in the Eagle County average sale price of luxury homes last year. Luxury listings in Lionshead sold for 26.3% more in 2021 than in 2020. Here, the average sale price for a luxury residence was $6,174,444. The highest average sale price within the Vail Valley’s luxury real estate market belongs to Spraddle Creek where the average sale price was $8,100,000 last year. Conversely, the lowest average sale price was recorded in Arrowhead where luxury homes sold for an average price of $4,374,345.

Continued demand for the elevated mountain living experience that the Vail Valley provides increased the pace of the luxury real estate market in 2021. Homes in the Town of Vail spent an average of 175 days on the market, a 30.8% decrease in time from 2020. The accelerated market was also felt in Arrowhead where luxury homes spent an average of just 78 days on the market – the shortest period in the Vail Valley. In Vail Village, buyers took slightly more time to find their dream home, which left listings on the market for an average of 138 days last year.

Based on $3,000,000+ sales in Eagle County. Based on information from Vail Board of Realtors®. This representation is based in whole or in part on data supplied by Vail Board of Realtors® on 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

63.2%

The average days on market in Arrowhead decreased by 63.2% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

21

23

9.5%

$721

$837

16.1%

212

78

-63.2%

$13,500,000

$10,605,750

-21.4%

Average List Price

$4,957,333

$4,509,130

-9.0%

Average Sale Price

$4,729,904

$4,374,345

-7.5%

95.3%

97.4%

2.2%

$99,328,000

$100,609,950

1.3%

# 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 December

2020

2021

% Change

22

34

54.5%

$982

$1,270

29.3%

257

119

-53.7%

$12,995,000

$16,000,000

23.1%

Average List Price

$6,568,818

$6,927,559

5.5%

Average Sale Price

$6,251,340

$6,720,345

7.5%

95.1%

97.5%

2.5%

$137,529,500

$228,491,750

66.1%

# 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

100.6% The total dollar volume in Beaver Creek increased by 100.6% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

20

42

110.0%

$1,113

$1,072

-3.7%

393

209

-46.8%

$12,375,000

$10,950,000

-11.5%

Average List Price

$5,834,200

$5,562,314

-4.7%

Average Sale Price

$5,579,000

$5,329,682

-4.5%

96.0%

96.3%

0.4%

$111,580,000

$223,846,676

100.6%

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

% Sold Price to List Price Total Dollar Volume

Single Family Homes

32

January through December

2021

% Change

82

119

45.1%

$1,795

$2,112

17.7%

253

175

-30.8%

$29,750,000

$34,000,000

14.3%

Average List Price

$7,757,061

$7,085,731

-8.7%

Average Sale Price

$7,245,118

$6,739,754

-7.0%

93.9%

96.2%

2.5%

$594,099,730

$802,030,795

35.0%

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

% Sold Price to List Price Total Dollar Volume

45.1%

The number of properties sold in the Town of Vail increased by 45.1% in 2021 compared to that of 2020.

TOWN OF VAIL

2020

All Properties

January through December

2021

% Change

35

57

62.9%

$2,497

$2,685

7.5%

305

138

-54.8%

$29,750,000

$34,000,000

14.3%

Average List Price

$11,242,686

$8,237,614

-26.7%

Average Sale Price

$10,333,499

$7,835,118

-24.2%

91.3%

96.0%

5.1%

$361,672,480

$446,601,750

23.5%

# 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 December

2021

% Change

14

27

92.9%

$1,782

$2,088

17.2%

325

233

-28.3%

$11,200,000

$12,450,000

11.2%

Average List Price

$5,032,143

$6,467,926

28.5%

Average Sale Price

$4,888,928

$6,174,444

26.3%

96.9%

95.8%

-1.2%

$68,445,000

$166,710,000

143.6%

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

% Sold Price to List Price Total Dollar Volume

143.6% The total dollar volume in Lionshead increased by 143.6% in 2021 compared to that of 2020.

LIONSHEAD

2020

All Properties

33

The number of properties sold in Vail Golf Course increased by 175.0% in 2021 compared to that of 2020.

MOUNTAIN STAR 34

2020

2021

% Change

4

11

175.0%

$2,356

$1,528

-35.1%

94

102

8.5%

Highest Price

$11,950,000

$11,925,000

-0.2%

Average List Price

$10,237,500

$6,178,636

-39.6%

Average Sale Price

$9,965,000

$5,960,909

-40.2%

97.0%

96.8%

-0.2%

$39,860,000

$65,570,000

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

% Sold Price to List Price Total Dollar Volume

64.5% All Properties

January through December

SPRADDLE CREEK

VAIL GOLF COURSE

175.0%

January through December

2020

2021

% Change

1

1

0.0%

$1,187

$1,078

-9.2%

466

650

39.5%

Highest Price

$6,703,125

$8,100,000

20.8%

Average List Price

$7,995,000

$9,999,000

25.1%

Average Sale Price

$6,703,125

$8,100,000

20.8%

83.8%

81.0%

-3.4%

$6,703,125

$8,100,000

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

% Sold Price to List Price Total Dollar Volume

20.8% All Properties

192.6% The total dollar volume in Mountain Star increased by 192.6% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

4

10

150.0%

$762

$819

7.5%

230

470

104.3%

Highest Price

$8,530,000

$11,000,000

29.0%

Average List Price

$6,510,000

$7,358,500

13.0%

Average Sale Price

$6,010,000

$7,034,750

17.1%

93.3%

95.5%

2.4%

$24,040,000

$70,347,500

192.6%

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

% Sold Price to List Price Total Dollar Volume

TELLURIDE LUXURY MARKET Surrounded by breathtaking vistas, Telluride is a place where the scenery is just as special as the community that calls it ‘home.’ Here, in San Miguel County, the luxury real estate market saw some encouraging improvements in certain areas compared to 2020. The number of luxury properties sold in this remarkable community rose by 8.7% last year, growing from 104 properties sold in 2020 to 113 properties sold in 2021. The average price of luxury listings in the area experienced an increase as well, appreciating by 27% to reach an average sale price of $6,283,953. This impressive rise in the average sale price was influenced by the record-breaking sale of a home that closed in 2021 for $39,500,000. Overall, the total dollar volume sold in San Miguel County increased by 38% to reach a total of $710,086,705 last year.

On a smaller scale, individual communities within San Miguel County also experienced a boost in real estate activity during 2021. The most significant increase in the number of homes

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

2020

2021

% Change

104

113

8.7%

$1,222

$1,448

18.5%

394

294

-25.4%

$13,250,000

$39,500,000

198.1%

sold was observed in Mountain Village, where there were 59

Highest Price

luxury homes sold – a 37.2% improvement over 2020. In this

Average List Price

$5,224,499

$6,483,211

24.1%

community, the average sale price appreciated by 17.3% to

Average Sold Price

$4,948,106

$6,283,953

27.0%

reach an average price of $5,390,191. The average price per

% Sold Price to List Price

95.2%

97.2%

2.1%

$514,603,033

$710,086,705

38.0%

square foot also rose, increasing from $864 per square foot to $1,044 per square foot.

Total Dollar Volume

San Miguel County

In the Town of Telluride, there were 34 luxury listings sold in 2021. Those luxury homes sold for an average sale price of $6,538,852, which is 28.4% higher than the average price in 2020. This community had the highest average price per square foot in Telluride’s luxury real estate market, appreciating by 30.5% to $2,207 per square foot last year.

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 highest priced home in the Town of Telluride increased by 150.0% in 2021 compared to that of 2020.

SURROUNDING MESAS 36

2020

2021

% Change

52

34

-34.6%

$1,691

$2,207

30.5%

460

157

-65.9%

$11,200,000

$28,000,000

150.0%

Average List Price

$5,437,904

$6,750,559

24.1%

Average Sold Price

$5,093,949

$6,538,852

28.4%

94.2%

98.9%

5.0%

$264,885,350

$222,320,955

-16.1%

# 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

150.0%

January through December

January through December

2020

2021

% Change

43

59

37.2%

$864

$1,044

20.8%

340

304

-10.6%

$7,900,000

$17,000,000

115.2%

Average List Price

$4,797,602

$5,534,591

15.4%

Average Sold Price

$4,595,986

$5,390,191

17.3%

96.2%

98.9%

2.8%

$197,627,393

$318,021,250

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

% Sold Price to List Price Total Dollar Volume

60.9% All Properties

198.1% The highest priced home in the surrounding mesas increased by 198.1% in 2021 compared to that of 2020.

January through December

2020

2021

% Change

36

23

-36.1%

$820

$1,462

78.3%

259

511

97.3%

$13,250,000

$39,500,000

198.1%

Average List Price

$5,640,000

$8,184,882

45.1%

Average Sold Price

$5,393,366

$7,920,265

46.9%

95.2%

97.0%

2.1%

$298,745,500

$153,280,250

-48.7%

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

% Sold Price to List Price Total Dollar Volume

Deep Creek Mesa, Hastings Mea, Iron Springs/Horsefly Mesa, Specie Mesa, Sunshine Mesa, Turkey Creek Mesa, Wilson Mesa

in your happy place Your home is more than a building or an address. It’s where you experience life, family, connection, growth. Your home should be as exceptional as you are, and as you are going to be. For a lifestyle inspired by your potential, there is only LIV Sotheby’s International Realty.

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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