Luxury Report Q3 2023

Q3 2023

Luxury Report CO LO RA D O’S LUXU RY M A R K E TS

Welcome CO LO RA D O’S LUXU RY M A R K E TS

LIV Sotheby’s International Realty aims to provide you the information you need to make an informed real estate decision, and our quarterly Luxury Report is a tool you can use to do just that. Measuring the performance in some of Colorado’s most popular communities for single-family homes and condominiums, we include all residential properties sold above $1 million in Denver Metro, Colorado Springs, Boulder, and Grand County.

Residential properties selling above $2 million in Summit County and Crested

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Butte are included as are properties sold above $3 million in Vail Valley and Telluride.

Proving nothing compares to the luxury real estate market, so far in 2023 the Front Range area saw a median sold price of $1,366,638, while our Colorado Resort regions reached a combined median sold price of $2,666,065. While lack of inventory is still a concern, overall, the luxury sector year over year is seeing an increase in median sold price, pointing to strength in the market.

Q3

YTD Luxury Data

MEDIAN SOLD PRICE All Colorado Sales Above $1M

$1,794,090

YTD 2022 vs 2023 % Change

+ 3.0%

Front Range Sales Above $1M

$1,366,638

+ 1.3%

Resort Regions Sales Above $1M

$2,666,065

MEDIAN SOLD PRICE

$1.85M

All Colorado Sales Above $1M

$1.8M

October 2022 - September 2023

$1.75M

+ 3.4%

$1.7M $1.65M Oct Nov Dec Jan Feb Mar Apr May Jun Jul

Aug Sep

January - September 2023 | 3

AT A G L A N C E

Colorado’s Front Range Luxury properties are selling in the Front Range for slightly higher than they were in 2022, although it may be taking slightly longer than it did during the same time period last year. As of now, in 2023, luxury residential properties across Colorado’s Front Range sold for 1.3% more and stayed on the market for an average of 48 days, up 46.9% from the same time last year. The list price to sold price in the first three quarters of this year was 99%, down just 4.1% when compared to the same time period last year. As we head into Q4, inventory is starting to increase as well as buyer demand, indicating the luxury market is thriving. Those looking for the best of Colorado living will be in a prime position to find it.

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Based on Sales $1,000,000+

Median Sold Price

YTD 2022 vs 2023 % Change

$1,366,638

+1.3%

Properties Sold

YTD 2022 vs 2023 % Change

5,986 Average Days on Market

48

- 29.3% YTD 2022 vs 2023 % Change

+46.9%

Average Price per Sq. Ft.

YTD 2022 vs 2023 % Change

$389

- 0.1%

List Price to Sold Price

YTD 2022 vs 2023 % Change

99.0%

- 4.1%

Based on sales $1,000,000+ from REColorado, IRES, and PPAR (Powered by LiveBy). This representation is based in whole or in part on data supplied from REColorado, IRES, and PPAR on October 1, 2023, for the period January 1, 2023 – September 30, 2023. REColorado, IRES, PPAR do not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES and PPAR may not reflect all real estate activity in the market.

January - September 2023 | 5

Denver Metro Median Sold Price

$1,372,873 +1.7% Change YTD 2022 vs 2023

Properties Sold

3,135 -30.7% Change YTD 2022 vs 2023

Average Days on Market

35 +42.9% Change YTD 2022 vs 2023

Highest Sold Price

$9,250,000 +40.5% Change YTD 2022 vs 2023

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Based on Sales $1,000,000+

Properties Sold

Median Sold Price

Average Days on Market

City of Denver

1,056

$1,460,000

34

Broomfield

83

$1,278,500

22

Commerce City

2

$1,480,000

8

Englewood

7

$1,195,000

38

Littleton

33

$1,385,000

18

Aurora

51

$1,135,000

35

Centennial

103

$1,275,000

23

Greenwood Village

104

$1,982,500

32

Cherry Hills Village

81

$3,350,000

39

Thornton

3

$1,100,000

8

Westminster

32

$1,329,500

40

Based on all residential sales above $1,000,000 in the counties of Adams, Arapahoe, Denver, Douglas, Broomfield, and Jefferson.

January - September 2023 | 7

South Metro Median Sold Price

$1,300,000 -3.8% Change YTD 2022 vs 2023

Properties Sold

737 -31.1% Change YTD 2022 vs 2023

Average Days on Market

43 +51.2% Change YTD 2022 vs 2023

Highest Sold Price

$7,800,000 -3.1% Change YTD 2022 vs 2023

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Based on Sales $1,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Highlands Ranch

121

$1,300,000

21

Lone Tree

54

$1,277,500

29

Parker

28

$1,133,250

26

Castle Rock

62

$1,173,000

34

Castle Pines

85

$1,300,000

27

Sedalia

9

$2,076,750

108

Franktown

1

$1,450,000

91

Larkspur

27

$1,198,000

42

Based on all residential sales above $1,000,000 in Douglas County.

January - September 2023 | 9

West Metro & Foothills Median Sold Price

$1,300,000 0% change Change YTD 2022 vs 2023

Properties Sold

693 -31.3% Change YTD 2022 vs 2023

Average Days on Market

30 +26.7% Change YTD 2022 vs 2023

Highest Sold Price

$6,100,000 -4.9% Change YTD 2022 vs 2023

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Based on Sales $1,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Arvada

71

$1,150,000

33

Lakewood

89

$1,225,000

22

Wheat Ridge

24

$1,517,500

16

Evergreen

36

$1,256,600

23

Morrison

13

$1,070,900

12

Golden

45

$1,350,000

22

Conifer

36

$1,321,000

41

Based on all residential sales above $1,000,000 in Jefferson County.

January - September 2023 | 11

Boulder & Northern Colorado Median Sold Price

$2,749,000 -0.2% Change YTD 2022 vs 2023

Properties Sold

1,251 -26.4% Change YTD 2022 vs 2023

Average Days on Market

54 +31.2% Change YTD 2022 vs 2023

Highest Sold Price

$16,000,000 +37.5% Change YTD 2022 vs 2023

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Based on Sales $1,000,000+

Properties Sold

Median Sold Price

Average Days on Market

City of Boulder

375

$1,610,000

62

Longmont

47

$1,200,000

56

Louisville

50

$1,266,000

53

Niwot

25

$1,806,880

78

Erie

46

$1,225,000

50

Lafayette

47

$1,195,000

37

Superior

33

$1,186,578

67

Fort Collins

76

$1,250,000

28

Loveland

22

$1,155,091

34

Berthoud

20

$1,353,787

67

Windsor

40

$1,200,000

42

Timnath

27

$1,635,000

42

Based on all residential sales above $1,000,000 in Boulder County, Fort Collins, Loveland, Berthoud, Windsor, and Timnath.

January - September 2023 | 13

Colorado Springs Median Sold Price

$1,199,171 +0.7% Change YTD 2022 vs 2023

Properties Sold

170 -8.8% Change YTD 2022 vs 2023

Average Days on Market

71 +78.9% Change YTD 2022 vs 2023

Highest Sold Price

$3,955,000 -56.8% Change YTD 2022 vs 2023

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Based on Sales $1,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Black Forest

17

$1,060,000

42

Broadmoor

28

$1,512,500

97

Flying Horse

26

$1,139,000

27

Monument

15

$1,193,000

9

Based on all residential sales $1,000,000+ from PPAR MLS.

January - September 2023 | 15

AT A G L A N C E

Colorado Resorts During the first three quarters of 2023, demand for luxury properties throughout our Colorado Resort regions has kept inventory low and home prices steady. The average price per square foot was $960, up 4.7% from the same time period a year ago. Luxury residential roperties are selling at a 3.4% increase and average days on market have decreased by 19% to 96 when compared to the same time last year. As we move into Q4, continued constraint on inventory and increasing demand for the mountain lifestyle beloved in these Resort communities may lend some advantages to sellers.

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Based on Sales $1,000,000+

Median Sold Price

YTD 2022 vs 2023 % Change

$2,666,065

+ 3.4%

Properties Sold

YTD 2022 vs 2023 % Change

1,143 Average Days on Market

96

- 21.3% YTD 2022 vs 2023 % Change

+19.0%

Average Price per Sq. Ft.

YTD 2022 vs 2023 % Change

$960

+ 4.7%

List Price to Sold Price

YTD 2022 vs 2023 % Change

97.0%

- 2.5%

Based on sales $1,000,000+ from MLS information from Grand County, Summit County, Crested Butte, Vail Valley, and Telluride (Powered by LiveBy). This representation is based in whole or in part on data supplied from various Colorado Resort MLS services on October 1, 2023, for the period January 1, 2023 – September 30, 2023. The various Colorado Resort MLS services do not guarantee nor are in any way responsible for its accuracy. Data maintained by the various Colorado Resort MLS services may not reflect all real estate activity in the market.

January - September 2023 | 17

Grand County Median Sold Price

$1,350,000 -3.6% Change YTD 2022 vs 2023

Properties Sold

99 -30.3% Change YTD 2022 vs 2023

Average Days on Market

226 +43.8% Change YTD 2022 vs 2023

Highest Sold Price

$2,985,000 -180.4% Change YTD 2022 vs 2023

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Based on Sales $1,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Fraser

19

$1,524,418

430

Granby

13

$1,350,000

178

Grand Lake

3

$2,600,000

315

Tabernash

9

$1,050,000

91

Winter Park

6

$1,212,000

96

Based on sales $1,000,000+ from Grand County Board of Realtors®. Based on information from Grand County Board of Realtors® (Powered by LiveBy). This representation is based in whole or in part on data supplied by Grand County Board of Realtors® on October 1, 2023, for the period January 1, 2023 - September 30, 2023. Grand County Board of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Grand County Board of Realtors® may not reflect all real estate activity in the market.

January - September 2023 | 19

Summit County Median Sold Price

$2,690,000 +1.1% Change YTD 2022 vs 2023

Properties Sold

133 -16.5% Change YTD 2022 vs 2023

Average Days on Market

68 +51.5% Change YTD 2022 vs 2023

Highest Sold Price

$6,900,000 -76.8% Change YTD 2022 vs 2023

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Based on Sales $2,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Breckenridge

45

$2,800,000

84

Copper Mountain

2

$3,250,000

34

Keystone

13

$2,700,000

83

Based on sales $2,000,000+ from Summit County Board of Realtors®. Based on information from Summit County Board of Realtors® (Powered by LiveBy). This representation is based in whole or in part on data supplied by Summit County Board of Realtors® on October 1, 2023, for the period January 1, 2023 - September 30, 2023. Summit County Board of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Summit County Board of Realtors® may not reflect all real estate activity in the market.

January - September 2023 | 21

Crested Butte Median Sold Price

$2,750,000 -14.8% Change YTD 2022 vs 2023

Properties Sold

24 -25% Change Change YTD 2022 vs 2023

Average Days on Market

177 +15.8% Change YTD 2022 vs 2023

Highest Sold Price

$10,000,000 +26.0% Change YTD 2022 vs 2023

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Based on Sales $2,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Town of Crested Butte

6

$2,600,000

123

Mt. Crested Butte

8

$2,537,500

182

Rural Crested Butte

8

$3,700,000

146

Based on sales $2,000,000+ from Gunnison - Crested Butte Association of REALTORS®, Colorado Real Estate Network (CREN) MLS. Based on information from Gunnison - Crested Butte Association of REALTORS®, CREN MLS (Powered by LiveBy). This representation is based in whole or in part on data supplied by CREN MLS on October 1, 2023, for the period January 1, 2023 - September 30, 2023. Verify with a local REALTOR®.

CREN MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by CREN MLS may not reflect all real estate activity in the market.

January - September 2023 | 23

Vail Valley Median Sold Price

$4,617,500 +0.4% Change YTD 2022 vs 2023

Properties Sold

150 -10.7% Change YTD 2022 vs 2023

Average Days on Market

109 +23.9% Change YTD 2022 vs 2023

Highest Sold Price

$20,500,000 -50.6% Change YTD 2022 vs 2023

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Based on Sales $3,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Arrowhead

14

$4,225,000

73

Bachelor Gulch

13

$4,800,000

43

Beaver Creek

22

$4,975,000

113

Town of Vail

33

$5,800,000

88

Vail Village

23

$6,500,000

102

Lionshead

10

$4,387,500

57

Vail Golf Course

8

$4,925,000

120

Mountain Star

2

$9,225,000

320

Based on sales $3,000,000+ from Vail Board of Realtors®. Based on information from Vail Board of Realtors® (Powered by LiveBy). This representation is based in whole or in part on data supplied by Vail Board of Realtors® on October 1, 2023, for the period January 1, 2023 - September 30, 2023. Vail Board of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by the Vail Board of Realtors® may not reflect all real estate activity in the market.

January - September 2023 | 25

Telluride

Median Sold Price

$4,900,000 -6.1% Change YTD 2022 vs 2023

Properties Sold

69 -10.1% Change YTD 2022 vs 2023

Average Days on Market

86 +30.2% Change YTD 2022 vs 2023

Highest Sold Price

$18,900,000 +9.5% Change YTD 2022 vs 2023

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Based on Sales $3,000,000+

Properties Sold

Median Sold Price

Average Days on Market

Town of Telluride

29

$5,365,000

191

Mountain Village

40

$4,800,000

74

*Surrounding Mesas

8

$4,314,500

103

*Deep Creek Mesa, Hastings Mesa, Iron Springs/Horsefly Mesa, Specie Mesa, Sunshine Mesa, Turkey Creek Mesa, Wilson Mesa Based on sales $3,000,000+ in Telluride and Mountain Village. Based on Information from the Telluride Association of Realtors®. This representation is based in whole or in part on data supplied by the Telluride Association of Realtors® on October 1st, 2023. The Telluride Association of Realtors® does not guarantee nor is in any way responsible for its accuracy.

Data maintained by the Telluride Association of Realtors® may not reflect all real estate activity in the market.

January - September 2023 | 27

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