FOOTHILLS LUXURY MARKET

The Foothills, a community beloved for its nearness to nature and captivating views of the Front Range, saw an influx of luxury real estate activity. As a whole, the number of luxury listings sold through December 2022, compared to the same time period in 2021, grew by an impressive 17.4%, totaling 1,109 luxury homes sold. Increased demand for high-end homes in this area decreased the average days on market from 26 days in 2021 to 23 days in 2022—an 11.5% decrease. This community has seen total dollar volume sold in the luxury sector of the market rise by 16.6% through December, thanks to consumers’ need for lifestyle-focused, luxury homes in the Foothills.

Genesee saw the most luxury properties sold through December of 2022, totaling 26 homes sold—a 25.7% decrease. This community also saw home prices increase. Through December, the average sale price for local luxury homes reached $1,672,561, which is 13.5% higher than last year.

Hangen Ranch saw one of the most notable appreciations in the average sale price for luxury homes in the Foothills. Luxury single-family homes in this community increased in average sold price by 34.9%, bringing the average sold price to $2,031,250.

Riva Chase proved to be a very popular community in the eyes of consumers. Homes in this neighborhood saw a 85.6% decrease in average days on market, with most homes staying on the market for an average of just 13 days.

34.9%

The total dollar volume in Hangen Ranch increased by 34.9% in 2022 compared to that of 2021.

18.9%

The average price per square foot in Ridge at Hiwan increased by 18.9% in 2022 compared to that of 2021.

85.6%

The average number of days on market in Riva Chase decreased by 85.6% in 2022 compared to that of 2021.