COLORADO RESIDENTIAL LUXURY REPORT Q1 2020
RESIDENTIAL LUXURY REPORT INTRODUCTION
When it comes to real estate, the luxury sector of the market can perform independently from the rest of the marketplace. Depending on the region, the current state of the economy, and various other factors that can influence the housing market, trends for higher-priced homes may fluctuate. Staying in the know with the latest market information helps consumers understand how to use the real estate market to help them reach their real estate and lifestyle goals. LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a quarterly Residential Luxury Report, comparing January through March of this year to the previous year, measuring the performance of luxury real estate markets in some of Colorado’s most popular communities. Even during these unprecedented times brought on by COVID-19, luxury residential real estate markets across Colorado showed encouraging signs of stability and growth. Analyzing the luxury market for Colorado’s diverse neighborhoods, the statistics in this report show performance for single family homes and condos for the following areas:
P.
P.
03
15
Boulder $1 million+
P.
Denver Metro
Crested Butte
$1 million+
P.
P.
12
24
$2 million+
18
Vail Valley $3 million+
P.
25
© MMXIX
Telluride
Foothills $1 million+
P.
22
$3 million+
Summit County $2 million+
2
Pictured on cover: 1381 Johnson Road, Silverthorne
coloradomarketreports.com
120 N Humboldt Street, Denver
DENVER METRO LUXURY MARKET Denver Metro started off 2020 strong with increases in important metrics such as total dollar volume sold and the number of properties sold. Across all counties (Adams, Arapahoe, Broomfield, Denver, Douglas, and Jefferson) total dollar volume sold increased by 17.3% in Q1 of 2020 compared to the same time frame in the previous year, reaching $616,416,613 in sales. Denver Metro also saw an 18.2% increase in the number of properties sold during the first quarter of the year, rising from 341 luxury homes sold January through March of 2019 to 403 homes sold during January January through March 2019 2020 % Change through March of this year. The average sale # of Properties Sold 341 403 18.2% price for luxury homes in Denver Metro in Average Price per Square Foot $452 $474 4.7% the first quarter of 2020 was $1,529,570 and the average days on market for homes in this Average Days on Market 73 70 -4.1% category was 70 days. Highest Price $10,750,000 $6,620,000 -38.4%
DENVER METRO
Average List Price
$1,593,318
$1,586,761
-0.4%
Several neighborhoods within Denver Metro Average Sale Price $1,537,709 $1,529,570 -0.5% experienced increases in the number of luxury % Sold Price to List Price 95.4% 95.2% -0.2% properties sold. Cherry Creek North saw a Total Dollar Volume $525,658,747 $616,416,613 17.3% significant rise in sold properties in Q1 of this year compared to Q1 of last year, increasing Counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson by 54.5%. During January through March of 2020, 17 luxury homes sold compared to the same time frame of last year when 11 luxury homes sold. The average sold price for the prestigious neighborhood of Cherry Hills Village (properties under one acre) showed one of the most notable rises, growing by 12.2% in a year-to-date comparison. Luxury homes set on less than one acre in this community sold for an average price of $1,852,714 in 2020. The City of Denver saw a decrease in the time that luxury homes sat on the market during Q1. Luxury homes in this community spent an average of 57 days on the market, a 16.2% dip compared to last year.
Based on $1,000,000+ sales in Adams, Arapahoe, Broomfield, Denver, Douglas, and Jefferson Counties. Based on information from REColorado. This representation is based in whole or in part on data supplied by REColorado. 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.
RESIDENTIAL LUXURY REPORT JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
CITY OF DENVER January through March
16.2%
2019
2020
% Change
162
190
17.3%
$520
$536
3.1%
68
57
-16.2%
$10,750,000
$4,625,000
-57.0%
Average List Price
$1,674,699
$1,542,753
-7.9%
properties within the City of Denver
Average Sale Price
$1,628,805
$1,496,376
-8.1%
decreased by 16.2% January through March
95.9%
96.1%
0.2%
2020 compared to that of 2019.
$265,166,489
$284,311,467
7.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
The average days on market for luxury
Boundaries: City of Denver
BACKCOUNTRY January through March
2019
2020
% Change
11
9
-18.2%
$367
$355
-3.2%
30
109
263.3%
Highest Price
$4,595,032
$2,800,000
-39.1%
Average List Price
$1,694,924
$1,372,469
-19.0%
Average Sale Price
$1,663,144
$1,350,580
-18.8%
96.0%
92.6%
-3.6%
$18,294,585
$12,155,219
-33.6%
Number of Properties Sold
BackCountry is just twelve
Average Price per Square Foot
miles south of Denver
Average Days on Market
which puts residents close to the Highlands Ranch business parks, Denver Tech Center, and Inverness.
% Sold Price to List Price Total Dollar Volume
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
BONNIE BRAE/BELCARO 2019
2020
% Change
5
6
20.0%
$546
$498
-8.7%
LIV SIR represented the
29
63
117.2%
seller for the highest
$2,265,000
$1,775,000
-21.6%
priced sale in Bonnie Brae/
Average List Price
$1,661,800
$1,349,000
-18.8%
Belcaro for 2020.
Average Sale Price
$1,644,334
$1,325,000
-19.4%
96.6%
93.4%
-3.2%
$8,221,668
$7,950,000
-3.3%
January through March Number 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
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BOW MAR/BOW MAR SOUTH January through March
2019
2020
% Change
2
4
100.0%
$360
$359
-0.3%
85
44
-48.2%
$2,950,000
$2,285,000
-22.5%
Average List Price
$2,112,000
$1,922,500
-9.0%
Average Sale Price
$1,999,500
$1,863,750
-6.8%
94.8%
96.2%
1.4%
$3,999,000
$7,455,000
86.4%
Number of Properties Sold
LIV SIR represented the
Average Price per Square Foot
seller for the highest priced
Average Days on Market
sale in Bow Mar/Bow Mar
Highest Price
South for 2020.
% Sold Price to List Price Total Dollar Volume
Boundaries: West Quincy Avenue to West Bowles Avenue
THE VILLAGE AT CASTLE PINES January through March
2019
2020
% Change
19
15
-21.1%
$429
$492
14.8%
78
66
-15.4%
$2,540,000
$3,266,716
28.6%
Average List Price
$1,540,275
$1,478,221
-4.0%
Average Sale Price
$1,456,860
$1,441,768
-1.0%
98.4%
95.6%
-2.8%
$27,680,337
$21,626,520
-21.9%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
28.6%
The highest price sold for luxury properties
within the neighborhood of The Village at Castle Pines increased by 28.6% January through March 2020 compared to that of 2019.
Boundaries: US 85 & Copper Blush to Northwood; Daniels Park to Gate 5, Country Club to I-25
54.5%
The number of luxury properties sold in
the neighborhood of Cherry Creek North increased by 54.4% January through March 2020 compared to that of 2019.
CHERRY CREEK NORTH 2019
2020
% Change
11
17
54.5%
$652
$627
-3.8%
89
91
2.2%
$2,975,000
$1,800,000
-39.5%
Average List Price
$1,735,273
$1,438,869
-17.1%
Average Sale Price
$1,688,091
$1,402,214
-16.9%
97.0%
95.3%
-1.7%
$18,569,000
$23,837,630
28.4%
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: York to Colorado; 1st Avenue to 6th Avenue
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
CHERRY HILLS VILLAGE January through March
2019
2020
% Change
5
12
140.0%
$452
$533
18.0%
75
52
-30.7%
Highest Price
$8,200,000
$6,620,000
-19.3%
Average List Price
$3,572,000
$3,405,750
-4.7%
Average Sale Price
$3,094,000
$3,198,917
3.4%
86.6%
95.8%
10.5%
$15,470,000
$38,387,000
148.1%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
18.0%
The average price per square foot for luxury properties within Cherry Hills Village (over 1 acre) increased by 18.0% January through March 2020 compared to that of 2019.
(Over 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou
11.9%
The average list price for luxury properties
within the neighborhood of Cherry Hills Village (under 1 acre) increased by 11.9% January through March 2020 compared to that of 2019.
CHERRY HILLS VILLAGE January through March
2019
2020
% Change
10
7
-30.0%
$415
$517
24.6%
53
31
-41.5%
Highest Price
$2,625,000
$2,650,000
1.0%
Average List Price
$1,690,800
$1,891,857
11.9%
Average Sale Price
$1,651,600
$1,852,714
12.2%
95.4%
94.9%
-0.5%
$16,516,000
$12,969,000
-21.5%
Number 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
COLUMBINE VALLEY 2019
2020
% Change
4
5
25.0%
$434
$474
9.1%
14
110
685.7%
seller for the highest priced
$2,546,300
$2,265,000
-11.0%
sale in Columbine Valley
Average List Price
$1,565,325
$1,518,400
-3.0%
for 2020.
Average Sale Price
$1,534,825
$1,509,580
-1.6%
97.0%
98.3%
1.3%
$6,139,300
$7,547,902
22.9%
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
LIV SIR represented the
Boundaries: South Polo Ridge Drive to West Bowles; Platte Canyon Road to South Platte River
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COUNTRY CLUB
42.7%
The highest price sold for luxury properties within the neighborhood of Country Club increased by 42.7% January through March 2020 compared to that of 2019.
January through March
2019
2020
% Change
4
4
0.0%
$561
$712
26.9%
99
37
-62.6%
Highest Price
$3,240,000
$4,625,000
42.7%
Average List Price
$3,223,500
$3,531,250
9.5%
Average Sale Price
$3,096,264
$3,095,000
0.0%
89.5%
87.9%
-1.8%
$12,385,057
$12,380,000
0.0%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: University to Downing 1st - 4th; Race to University 4th - 6th
CRESTMOOR January through March
75.0%
2019
2020
% Change
5
5
0.0%
$519
$519
0.0%
36
9
-75.0%
Highest Price
$3,235,000
$2,400,000
-25.8%
The average days on market for luxury properties
Average List Price
$2,279,600
$1,832,400
-19.6%
within the neighborhood of Crestmoor decreased
Average Sale Price
$2,182,828
$1,771,400
-18.8%
by 75.0% January through March 2020
96.2%
97.3%
1.1%
$10,914,138
$8,857,000
-18.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
compared to that of 2019.
Boundaries: Holly to Monaco; Bayaud to 6th Avenue
GREENWOOD VILLAGE EAST
40.0%
2019
2020
% Change
5
7
40.0%
$406
$353
-13.0%
19
75
294.7%
Highest Price
$1,450,000
$1,700,000
17.2%
the neighborhood of Greenwood Village East
Average List Price
$1,263,800
$1,418,714
12.3%
increased by 40.0% January through March
Average Sale Price
$1,240,893
$1,348,214
8.6%
98.4%
92.0%
-6.5%
$6,204,464
$9,437,500
52.1%
The number of luxury properties sold within
2020 compared to that of 2019.
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: I-25 to Havana; Belleview to Orchard
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
GREENWOOD VILLAGE WEST January through March
6.3%
2019
2020
% Change
5
6
20.0%
$393
$418
6.3%
19
14
-26.3%
Highest Price
$2,275,000
$2,142,000
-5.8%
Average List Price
$1,834,800
$1,524,000
-16.9%
properties within the neighborhood of
Average Sale Price
$1,776,800
$1,469,333
-17.3%
Greenwood Village West (under 1 acre) increased
95.9%
95.9%
0.0%
by 6.3% January through March 2020 compared
$8,884,000
$8,816,000
-0.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
The average price per square foot for luxury
to that of 2019.
(Under 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
GREENWOOD VILLAGE WEST January through March
2019
2020
% Change
2
1
-50.0%
$451
$489
8.4%
102
3
-97.1%
Highest Price
$1,775,000
$1,500,000
-15.5%
Average List Price
$1,862,500
$1,500,000
-19.5%
Average Sale Price
$1,747,500
$1,500,000
-14.2%
89.9%
100.0%
11.2%
$3,495,000
$1,500,000
-57.1%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
6600 E Ida Ave, Greenwood Village
(Over 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
HILLTOP 2019
2020
% Change
13
12
-7.7%
$409
$519
26.8%
35
81
131.4%
$2,450,000
$2,650,000
8.2%
Average List Price
$1,560,231
$1,838,583
17.8%
Average Sale Price
$1,482,768
$1,790,878
20.8%
92.5%
92.5%
0.1%
$19,275,990
$21,490,536
11.5%
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
LIV SIR represented both the buyer and seller for the highest priced sale in Hilltop for 2020.
Boundaries: Alameda to 6th; Colorado to Holly
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HUNTINGTON TRAILS/LEXINGTON January through March
2019
2020
% Change
No Sales
2
-
Average Price per Square Foot
-
$353
-
Average Days on Market
-
22
-
Highest Price
-
$1,470,000
-
Average List Price
-
$1,375,000
-
Average Sale Price
-
$1,335,000
-
% Sold Price to List Price
-
95.4%
-
Total Dollar Volume
-
$2,670,000
-
Number of Properties Sold
LIV SIR represented the buyer for the highest priced sale in Huntington Trails/ Lexington for 2020.
Boundaries: Lexington Place to 144th Avenue; McKay Lake to Huron Street
KEENE RANCH January through March
7.6%
2019
2020
% Change
4
1
-75.0%
$378
$355
-5.9%
97
9
-90.7%
Highest Price
$1,500,000
$1,220,000
-18.7%
Average List Price
$1,203,750
$1,295,000
7.6%
within the neighborhood of Keene Ranch
Average Sale Price
$1,183,750
$1,220,000
3.1%
increased by 7.6% January through March
92.1%
94.2%
2.3%
2020 compared to that of 2019.
$4,735,000
$1,220,000
-74.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
The average list price for luxury properties
Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road
KEN-CARYL NORTH RANCH
8.6%
The average sale price for luxury properties
within the neighborhood of Ken-Caryl North Ranch increased by 8.6% January through March 2020 compared to that of 2019.
2019
2020
% Change
1
2
100.0%
$297
$333
12.2%
29
42
44.8%
Highest Price
$1,060,000
$1,176,500
11.0%
Average List Price
$1,069,000
$1,189,500
11.3%
Average Sale Price
$1,060,000
$1,150,750
8.6%
99.2%
96.8%
-2.4%
$1,060,000
$2,301,500
117.1%
January through March Number 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
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
MAYFAIR/MONTCLAIR January through March
95.3%
2019
2020
% Change
3
4
33.3%
$405
$411
1.5%
64
3
-95.3%
Highest Price
$1,400,000
$1,200,000
-14.3%
The average days on market for luxury
Average List Price
$1,290,000
$1,067,250
-17.3%
properties within the neighborhood of Mayfair/
Average Sale Price
$1,268,750
$1,112,500
-12.3%
Montclair decreased by 95.3% January
92.1%
105.6%
14.6%
$3,806,250
$4,450,000
16.9%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
through March 2020 compared to that of 2019.
Boundaries: Colorado to Quebec; 6th to Colfax
14.7%
OBSERVATORY PARK January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
12
11
-8.3%
$454
$512
12.7%
78
51
-34.6%
$2,825,000
$2,870,000
1.6%
The average sale price for luxury properties
Highest Price
within Observatory Park increased by 14.7%
Average List Price
$1,727,908
$1,920,636
11.2%
January through March 2020 compared to
Average Sale Price
$1,641,973
$1,883,545
14.7%
that of 2019.
% Sold Price to List Price
92.3%
97.0%
5.1%
$19,703,680
$20,719,000
5.2%
Total Dollar Volume
Boundaries: University to Colorado; Evans to Yale
POLO RESERVE 2019
2020
% Change
No Sales
1
-
Average Price per Square Foot
-
$309
-
Average Days on Market
-
181
-
LIV SIR represented the
Highest Price
-
$1,400,000
-
buyer for the highest
Average List Price
-
$1,449,000
-
priced sale in Polo Reserve
Average Sale Price
-
$1,400,000
-
for 2020.
% Sold Price to List Price
-
93.4%
-
Total Dollar Volume
-
$1,400,000
-
January through March Number of Properties Sold
Boundaries: North of Mineral; South of Arabian Place; West of the S Platte River; East of S. Platte Canyon Road
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SPRUCE MEADOWS January through March Number of Properties Sold
Tucked in a private corner
2019
2020
% Change
No Sales
1
-
of Broomfield you’ll find
Average Price per Square Foot
-
$533
-
Spruce Meadows where
Average Days on Market
-
263
-
Highest Price
-
$3,500,000
-
reaches out to embrace
Average List Price
-
$3,500,000
-
the Rocky Mountains.
Average Sale Price
-
$3,500,000
-
% Sold Price to List Price
-
100.0%
-
Total Dollar Volume
-
$3,500,000
-
the Colorado prairie
Boundaries: Federal Blvd to Zuni Street; High Prairie Way to 156th Avenue
WASHINGTON PARK EAST/CENTRAL January through March
2019
2020
% Change
16
16
0.0%
$573
$648
13.0%
34
60
76.5%
Highest Price
$2,613,827
$3,150,000
20.5%
Average List Price
$1,667,813
$1,678,987
0.7%
Average Sale Price
$1,638,583
$1,609,406
-1.8%
94.9%
94.1%
-0.8%
$26,217,327
$25,750,500
-1.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
20.5%
The highest price for luxury properties within the neighborhood of Washington Park East/
Central increased by 20.5% January through March 2020 compared to that of 2019.
Boundaries: Louisiana to Ellsworth, Ogden to University
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
1735 Prima Lane, Evergreen
FOOTHILLS LUXURY MARKET Jefferson County’s Foothills community saw some impressive growth in the luxury real estate market during Q1 of 2020. The total number of luxury homes sold January through March of this year compared to the same time period last year rose by 23.1%, reaching a total of 586 luxury listings sold. The increase in properties sold aided in the growth of the total dollar volume sold for the area. This January through March 2019 2020 % Change year, the total dollar volume sold through Number of Properties Sold 476 586 23.1% March was $902,972,689, a 19.9% jump Average Price per Square Foot from 2019 when the total dollar volume for $481 $507 5.5% the same time period was $752,981,714. Average Days on Market 80 83 3.8%
JEFFERSON COUNTY
Highest Price
$10,750,000
$7,450,000
-30.7%
Out of the six luxury neighborhoods within Average List Price $1,637,343 $1,602,416 -2.1% the Foothills, Genesee saw the most Average Sale Price $1,579,163 $1,540,909 -2.4% notable increase in total dollar volume sold % Sold Price to List Price 95.0% 94.8% -0.1% which reached $6,465,000, a 92.3% rise Total Dollar Volume $752,981,714 $902,972,689 19.9% from the previous year. With the number of properties sold growing by only a single home through March of 2020 in a year-to-date comparison to the previous year, this increase in total dollar volume sold may have been influenced by the rise in average list price (+50.6%) and average sale price (+44.2%).
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 by REColorado. 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.
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GENESEE January through March
2019
2020
% Change
3
4
33.3%
$400
$491
22.7%
34
49
44.1%
Highest Price
$1,262,500
$3,100,000
145.5%
Average List Price
$1,148,000
$1,728,500
50.6%
Average Sale Price
$1,120,833
$1,616,250
44.2%
96.0%
90.4%
-5.9%
$3,362,500
$6,465,000
92.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
145.5%
The highest price sold for luxury properties within Genesee increased by 145.5% January through March 2020 compared to that of 2019.
HANGEN RANCH January through March Number of Properties Sold
2019
2020
% Change
2
No Sales
-
$440
-
-
138
-
-
Situated ideally, just past
Average Price per Square Foot
Three Sisters’ open space
Average Days on Market
park, Hangen Ranch offers
Highest Price
$1,630,000
-
-
large home lots and horse-
Average List Price
$1,500,000
-
-
friendly zoning.
Average Sale Price
$1,465,000
-
-
87.4%
-
-
$2,930,000
-
-
% Sold Price to List Price Total Dollar Volume
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
RIDGE AT HIWAN 2019
2020
% Change
3
2
-33.3%
$323
$246
-23.9%
30
19
-36.7%
$1,320,000
$1,180,000
-10.6%
Average List Price
$1,219,667
$1,152,500
-5.5%
The average days on market for luxury
Average Sale Price
$1,181,667
$1,127,500
-4.6%
properties within Ridge at Hiwan decreased
95.4%
95.4%
-0.1%
by 36.7% January through March 2020
$3,545,000
$2,255,000
-36.4%
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
36.7%
compared to that of 2019.
SODA CREEK January through March
2019
2020
% Change
No Sales
4
-
Average Price per Square Foot
-
$499
-
Average Days on Market
-
181
-
Highest Price
-
$3,300,000
-
Average List Price
-
$2,276,250
-
Average Sale Price
-
$2,081,750
-
% Sold Price to List Price
-
91.9%
-
Total Dollar Volume
-
$8,327,000
-
Number of Properties Sold
Soda Creek is the perfect mix of luxury with a blend of the west that includes horses and owing green meadows.
14
coloradomarketreports.com
9253 Blue Spruce Lane, Niwot
BOULDER LUXURY MARKET Boulder’s location at the base of the Rocky Mountains combined with its selection of shopping, dining, and entertainment options makes this community a hot commodity. The luxury real estate market within this area reflects that statement with significant growth and activity throughout the first three months of the year. January through March of this year, there were 147 luxury homes sold, a 44.1% increase from the same time period in 2019 when 102 January through March 2019 2020 % Change luxury homes sold. As a result of this rise in Number of Properties Sold 102 147 44.1% luxury home sales, the total dollar volume Average Price per Square Foot $458 $536 17.0% sold increased by 38.8%.
BOULDER COUNTY
Average Days on Market
83
103
24.1%
Highest Price $5,100,000.00 $8,000,000.00 56.9% Several neighborhoods within Boulder saw Average Sale Price $1,747,243 $1,683,290 -3.7% enhanced activity within the luxury real estate % Sold Price to List Price 97.7% 95.9% -1.8% market in Q1. Central and Historic Boulder Total Dollar Volume $178,218,812 $247,443,626 38.8% experienced a 150% increase in the number of luxury homes sold through March when 35 luxury homes sold, compared to last year when 14 homes sold. Downtown Boulder, a highly coveted area to buy and sell homes, saw a rise in the average sale price during Q1 of 2020. January through March of this year, the average sale price for a luxury home in this community was $1,616,281, a 16.1% rise from the prior year.
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. 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.
RESIDENTIAL LUXURY REPORT JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
CITY OF BOULDER January through March Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Average Sale Price % Sold Price to List Price
56.9%
2019
2020
% Change
82
119
45.1%
$491
$585
19.1%
74
103
39.2%
The highest price sold of luxury properties
$5,100,000
$8,000,000
56.9%
within the City of Boulder increased by
$1,806,869.33
$1,736,639
-3.9%
56.9% January through March 2020
97.5%
96.1%
-1.4%
compared to that of 2019.
CENTRAL & HISTORIC BOULDER
10.8%
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
The average price per square foot for luxury
Highest Price
properties within Central & Historic Boulder
Average Sale Price
increased by 10.8% January through March
% Sold Price to List Price Total Dollar Volume
2020 compared to that of 2019.
DOWNTOWN BOULDER 2019
2020
% Change
2
8
300.0%
$809
$834
3.1%
125
124
-0.8%
Highest Price
$1,735,000
$2,600,000
49.9%
Average Sale Price
$1,392,500
$1,616,281
16.1%
93.7%
94.7%
1.1%
$2,785,000
$12,930,247
364.3%
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
16
2019
2020
% Change
14
35
150.0%
$594
$658
10.8%
65
122
87.7%
$4,500,000
$5,910,000
31.3%
$1,875,143
$1,792,114
-4.4%
97.2%
99.0%
1.9%
$26,252,000
$62,723,980
138.9%
16.1%
The average sale price for luxury properties sold within Downtown Boulder increased by 16.1% January through March 2020 compared to that of 2019.
coloradomarketreports.com
UNIVERSITY HILL & CHAUTAUQUA
26.4%
The average price per square foot for luxury properties within University Hill & Chatauqua increased by 26.4% January through March
2020 compared to that of 2019.
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
2019
2020
% Change
12
12
0.0%
$519
$656
26.4%
83
71
-14.5%
$3,900,000
$3,700,000
-5.1%
$1,872,088
$1,876,245
0.2%
96.6%
97.4%
0.8%
$22,465,050
$22,514,934
0.2%
BOULDER COUNTY PLAINS January through March
2019
2020
% Change
9
7
-22.2%
48
80
66.7%
Highest Price
$2,750,000
$2,465,000
-10.4%
Average Sold Price
$1,850,837
$1,447,143
-21.8%
99.2%
96.4%
-2.8%
$16,657,535
$10,130,000
-39.2%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
9253 Blue Spruce Lane, Niwot
74.3%
The average days on market for luxury properties within Foothills Communities decreased by 74.3% January through March
2020 compared to that of 2019.
FOOTHILLS COMMUNITIES 2019
2020
% Change
2
2
0.0%
183
47
-74.3%
Highest Price
$2,500,000
$1,595,000
-36.2%
Average Sold Price
$1,790,000
$1,297,500
-27.5%
98.8%
99.1%
0.3%
$3,580,000
$2,595,000
-27.5%
January through March # of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
375 Mill Creek Circle, Vail
VAIL VALLEY LUXURY MARKET Vail Valley, located within Eagle County, is known for its incredible resort lifestyle as well as the luxury mountain homes and ski chalets that reside within it. Over the course of the first three months of the year, the luxury real estate market within Eagle County showed signs of stability.
EAGLE COUNTY
January through March
2019
2020
% Change
Number of Properties Sold 21 21 0.0% Vail Village saw some of the most notable increases, with rises in both the average Average Price per Square Foot $1,517 $1,402 -7.6% list price and average sale price for luxury Average Days on Market 335 393 17.2% homes. During Q1 of this year, the average Highest Price $17,250,000 $16,750,000 -2.9% list price for luxury listings in Vail Village was Average List Price $7,629,048 $6,440,238 -15.6% $11,799,167, a 45.3% rise from the same time Average Sale Price $6,824,643 $5,906,429 -13.5% period last year when the average list price % Sold Price to List Price 89.5% 91.7% 2.5% was $8,120,000. The average sale price for Total Dollar Volume $143,317,500 $124,035,000 -13.5% luxury homes in this area grew by 37.4%, making the average sale price for listings in Vail Valley $10,450,000 in Q1 of this year. These drastic rises in the average list and sale prices have been influenced by the $16,750,000 sale of a home within the area, represented by LIV Sotheby’s International Realty, that has increased the overall averages.
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®. 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.
18
coloradomarketreports.com
ARROWHEAD January through March
2019
2020
% Change
2
1
-50.0%
$492
$449
-8.8%
35
338
879.7%
Highest Price
$3,350,000
$3,150,000
-6.0%
Average List Price
$3,575,000
$3,295,000
-7.8%
Average Sale Price
$3,312,500
$3,150,000
-4.9%
92.7%
95.6%
3.2%
$6,625,000
$3,150,000
-52.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
144 Castle Peak Gate, Edwards
Single Family Homes
BACHELOR GULCH January through March
2019
2020
% Change
1
1
0.0%
$968
$617
-36.3%
75
855
1040.0%
Highest Price
$7,500,000
$5,000,000
-33.3%
Resort, providing ski-in/
Average List Price
$7,800,000
$5,495,000
-29.6%
ski-out homes to enjoy.
Average Sale Price
$7,500,000
$5,000,000
-33.3%
96.2%
91.0%
-5.4%
$7,500,000
$5,000,000
-33.3%
Number of Properties Sold Average Price per Square Foot
Bachelor Gulch is a
Average Days on Market
secluded community, just west of Beaver Creek
% Sold Price to List Price Total Dollar Volume
Single Family Homes
BEAVER CREEK 2019
2020
% Change
1
1
0.0%
$706
$826
17.0%
1116
154
-86.2%
Highest Price
$6,950,000
$6,500,000
-6.5%
Average List Price
$7,495,000
$6,995,000
-6.7%
Average Sale Price
$6,950,000
$6,500,000
-6.5%
92.7%
92.9%
0.2%
$6,950,000
$6,500,000
-6.5%
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
86.2%
The average days on market for luxury
properties within Beaver Creek decreased by 86.2% January through March 2020 compared to that of 2019.
Single Family Homes
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
10.8%
The average price per square foot for luxury properties within the Town of Vail increased by 10.8% January through March 2020
compared to that of 2019.
TOWN OF VAIL January through March
2019
2020
% Change
13
11
-15.4%
$1,838
$2,036
10.8%
425
439
3.2%
$17,250,000
$16,750,000
-2.9%
Average List Price
$8,013,462
$8,266,818
3.2%
Average Sale Price
$7,206,808
$7,472,727
3.7%
89.9%
90.4%
0.5%
$93,688,500
$82,200,000
-12.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
All Properties
VAIL VILLAGE January through March
2019
2020
% Change
5
6
20.0%
$2,217
$2,520
13.7%
650
602
-7.5%
$10,500,000
$16,750,000
59.5%
Average List Price
$8,120,000
$11,799,167
45.3%
Average Sale Price
$7,607,500
$10,450,000
37.4%
93.7%
88.6%
-5.5%
$38,037,500
$62,700,000
64.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
LIV SIR represented both the buyer and seller for the highest priced sale in Vail Village for 2020.
All Properties
20
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VAIL GOLF COURSE/SPRADDLE CREEK January through March
2019
2020
% Change
4
No Sales
-
$1,491
-
-
333
-
-
Highest Price
$17,250,000
-
-
Average List Price
$10,471,250
-
-
Average Sale Price
$8,775,000
-
-
83.8%
-
-
$35,100,000
-
-
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
This small Vail community is comprised of luxury single family homes with unparalleled views of Vail Mountain.
All Properties
49.6%
The average days on market for luxury
LIONSHEAD January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
3
3
0.0%
$1,848
$1,913
3.5%
314
158
-49.6%
Highest Price
$8,500,000
$4,250,000
-50.0%
properties within Lionshead decreased
Average List Price
$5,398,333
$3,983,333
-26.2%
by 49.6% January through March 2020
Average Sale Price
$5,133,333
$3,900,000
-24.0%
95.1%
97.9%
3.0%
$15,400,000
$11,700,000
-24.0%
compared to that of 2019.
% Sold Price to List Price Total Dollar Volume
All Properties
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
238 Timber Trail Road, Breckenridge
SUMMIT COUNTY LUXURY MARKET Luxury homes within Summit County are highly sought-after properties to buy and sell. During the first quarter of this year in Summit County, the luxury real estate market remained active and stable in some communities. Overall, Summit County witnessed a 9.9% increase in the average price per square foot and a slight increase in the average list price January through March 2019 2020 % Change (+1.7%). Number of Properties Sold 18 13 -27.8%
SUMMIT COUNTY
Average Price per Square Foot
$574
$631
9.9%
Through March of this year, the average list Average Days on Market 238 180 -24.4% price for luxury homes in Breckenridge, one Highest Price $4,800,000 $4,600,000 -4.2% of the area’s most popular communities, was Average List Price $3,076,056 $3,129,385 1.7% $3,213,083. The average sale price for luxury Average Sale Price $2,957,637 $2,909,267 -1.6% homes in the same town was $2,976,289. % Sold Price to List Price 95.9% 93.9% -2.1% Luxury homes in Breckenridge experienced Total Dollar Volume $53,237,457 $37,820,472 -29.0% a 9.2% rise in average price per square foot. In Q1, the average price per square foot was $652 compared to Q1 of 2019 when the average price per square foot was $597. Overall the total dollar volume sold in this world-famous ski town reached $35,715,472 during January through March of this year.
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®. 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.
22
coloradomarketreports.com
BRECKENRIDGE January through March
2019
2020
% Change
13
12
-7.7%
$597
$652
9.2%
246
195
-20.7%
seller for the highest priced
$4,800,000
$4,600,000
-4.2%
sale in Breckenridge for
Average List Price
$3,142,692
$3,213,083
2.2%
2020.
Average Sale Price
$2,995,000
$2,976,289
-0.6%
95.0%
93.5%
-1.7%
$38,935,000
$35,715,472
-8.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
LIV SIR represented the
Single Family Homes
COPPER MOUNTAIN January through March
2019
2020
% Change
1
No Sales
-
$576
-
-
550
-
-
Highest Price
$3,380,000
-
-
Average List Price
$3,390,000
-
-
Average Sale Price
$3,380,000
-
-
99.7%
-
-
$3,380,000
-
-
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
903 Beeler Place, Copper Mountain
Single Family Homes
KEYSTONE 2019
2020
% Change
2
No Sales
-
$558
-
-
Founded in 1970 Keystone
155
-
-
has a rich mining and
Highest Price
$3,450,000
-
-
logging history and many
Average List Price
$3,150,000
-
-
of the lifts and trails are
Average Sale Price
$3,236,229
-
-
named after historic
103.0%
-
-
figures.
$6,472,457
-
-
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume Single Family Homes
RESIDENTIAL LUXURY REPORT + $2,000,000 Sales
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33 Buckhorn Way, Crested Butte
CRESTED BUTTE LUXURY MARKET
Sweeping mountain views and stunning landscapes make Crested Butte, located within Gunnison County, the perfect place to buy and sell luxury homes. During the first quarter of the year, communities within the Crested Butte luxury real estate market remained active. Overall, Gunnison County’s total dollar volume sold through March of this year reached $11,493,150, with an average list January through March 2019 2020 % Change price of $5,655,000 and an average sold price of Number of Properties Sold No Sales 3 $3,831,050.
GUNNISON COUNTY
Luxury homes within the Town of Crested Butte were on the market for an average of 176 days and were listed for the average price of $3,485,000 and sold for the average price of $3,246,575. The total dollar volume sold in this community totaled $6,493,150 through March of 2020.
Average Price per Square Foot
-
$1,112
-
Average Days on Market
-
334
-
Highest Price
-
$5,000,000
-
Average List Price
-
$5,655,000
-
Average Sale Price
-
$3,831,050
-
% Sold Price to List Price
-
67.7%
-
Total Dollar Volume
-
$11,493,150
-
TOWN OF CRESTED January through March Number of Properties Sold
2019
2020
% Change
No Sales
2
-
Average Price per Square Foot
-
-
Average Days on Market
-
176
-
Highest Price
-
$3,363,150
-
Average List Price
-
$3,485,000
-
Average Sale Price
-
$3,246,575
-
% Sold Price to List Price
-
93.2%
-
Total Dollar Volume
-
$6,493,150
-
926 Belleview Avenue, Crested Butte
Single Family Homes 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). 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
coloradomarketreports.com
692 Mountain Village Boulevard, Mountain Village
TELLURIDE LUXURY MARKET
The luxury real estate market within Telluride and San Miguel County have proven its strength and resilience during Q1 of 2020. The area produced an impressive 260% increase in the number of luxury properties sold through March of this year, compared to Q1 of 2019. In the first quarter of this year, 18 homes sold compared to the same time period last year when five homes sold. The total dollar volume sold also rose by an incredible 266.2%, reaching $91,305,250 in the first quarter of 2020.
SAN MIGUEL COUNTY
The Town of Telluride and Mountain Village January through March 2019 2020 % Change both saw 300% rises in the number of luxury Number of Properties Sold 5 18 260.0% listings sold January through March of this year Average Price per Square Foot $1,001 $1,533 53.1% compared to the same period of time last year. Each town sold four homes in Q1 of 2020 and just Average Days on Market 702 487 -30.6% one home during Q1 of 2019. The average sale Highest Price $8,400,000 $11,200,000 33.3% price for luxury homes in the Town of Telluride Average List Price $4,987,000 $5,499,278 10.3% increased by 22.2%, making the average sale Average Sale Price $4,590,000 $5,072,514 10.5% price for luxury homes in the area $4,428,625. % Sold Price to List Price 92.0% 92.2% 0.2% In Mountain Village, homebuyers appeared to be Total Dollar Volume $24,935,000 $91,305,250 266.2% more motivated as the average number of days a home spent on the market in this community dropped by 89.5%. During Q1 of this year, the average days on market for luxury homes in Mountain Village was 218 days. Given the remote landscape of this beautiful resort town, it’s not uncommon for homes to be on the market for a longer period of time.
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. 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.
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - MARCH 2020 • COLORADOMARKETREPORTS.COM
TOWN OF TELLURIDE January through March
2019
2020
% Change
1
4
300.0%
$934
$1,678
79.7%
481
363
-24.5%
Highest Price
$3,625,000
$5,900,000
62.8%
Average List Price
$3,995,000
$4,665,000
16.8%
Average Sale Price
$3,625,000
$4,428,625
22.2%
90.7%
94.9%
4.6%
$3,625,000
$17,714,500
388.7%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
LIV SIR represented both the buyer and seller for the highest priced single family home sale in the Town of Telluride for 2020.
Single Family Homes
MOUNTAIN VILLAGE January through March
2019
2020
% Change
1
4
300.0%
Average Price per Square Foot
$698
$1,018
45.8%
Average Days on Market
2,086
218
-89.5%
Highest Price
$4,025,000
$6,335,000
57.4%
Average List Price
$4,295,000
$4,622,500
7.6%
Average Sale Price
$4,025,000
$4,396,250
9.2%
93.7%
95.1%
1.5%
$4,025,000
$17,585,000
336.9%
Number of Properties Sold
LIV SIR represented the buyer for the highest priced single family home sale in Mountain Village for 2020.
% Sold Price to List Price Total Dollar Volume
Single Family Homes
SURROUNDING NEIGHBORHOODS 2019
2020
% Change
2
No Sales
-
$1,054
-
-
260
-
-
Highest Price
$8,400,000
-
-
Average List Price
$6,325,000
-
-
Average Sale Price
$5,800,000
-
-
91.7%
-
-
$11,600,000
-
-
January through March Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Aldasoro Ranch, Elk Run, GrayHead, Idarado Legacy, Raspberry Patch, Ski Ranches, The Preserve, and West Meadows
26
101 Albert J Road, Telluride
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For those who have a vision 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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is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC.
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