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
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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