RESIDENTIAL LUXURY REPORT INTRODUCTION

Following two years of residential real estate frenzy and historically low interest rates as a result of the COVID-19 pandemic, many luxury agents are continuing to see demand for high-end properties, despite record interest rate hikes. While conventional wisdom about supply and demand and interest-rate fluctuation would suggest luxury home prices should be falling, we simply did not see that in 2022. Prices, for the most part, remained steady in 2022. There is a lifestyle change resulting from COVID-19 that we believe is here to stay: people are spending more of their time at home and putting a larger emphasis on their home lives, even as the world has opened up. The luxury real estate market in Colorado is still ripe with opportunities to create your dream life in your dream home.

LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a quarterly Residential Luxury Report, comparing January through December of this year to the previous year, measuring the performance of luxury real estate markets in some of Colorado’s most popular communities, the luxury market for Colorado’s diverse neighborhoods. The statistics in this report show performance for single-family homes and condos for Denver Metro ($1 million+), Colorado Springs ($1 million+), the Foothills ($1 million+), Boulder ($1 million+), the Vail Valley ($3 million+), Summit County ($2 million+), Grand County ($1 million+) Crested Butte ($2 million+), and Telluride ($3 million+).