YEAR-END 2023
Quarterly Market Report COLORADO’S FRONT RANGE
Welcome F R O N T R A N G E R E A L E S TAT E M A R K E T
As we move into a new year, you may be thinking about the real estate goals you want to accomplish in 2024. With this being one of your greatest investments, strategy and market knowledge will embolden your decision making. We hope this report provides valuable insight into what may lie ahead as you navigate the ever-changing real estate market. How the market will play out in 2024 is unknown, but the Colorado Front Range is still experiencing an active market with relatively steady levels of homebuying and selling. Inventory continues to remain low, and the number of homes sold across
2 | livsothebysrealty.com
the state has decreased in comparison to the previous year, however median home prices have not shifted much. As interest rates begin to decline, home prices are likely to go up as demand from both buyers and sellers increases. We recognize each locality is unique and no two regions respond to market shifts the same. To aid in presenting an accurate picture of each of the areas that make up Colorado, LIV Sotheby’s International Realty is proud to present our Quarterly Market Report for Colorado’s Front Range representing the metrics of many key and beloved neighborhoods.
Q4
2022 vs 2023 % Change
Highest Sold Price
$16,000,000
Colorado’s Front Range
+23.1%
Properties Sold
65,571
- 20.0%
Average Days on Market
37
+ 68.7%
Median Price
Properties Sold
Avg. Days on Market
*Denver Metro
$587,500
34,645
31
South Metro
$700,000
5,633
West Metro & Foothills
$625,000
Boulder
Price per Sq. Ft.
Highest Sale
List Price to Sold Price
$327
$15,000,000
100%
38
$292
$7,800,000
99%
6,929
27
$342
$14,705,000
100%
$760,000
3,317
57
$434
$13,000,000
99%
Northern Colorado
$535,000
7,749
36
$282
$16,000,000
99%
Colorado Springs
$440,500
7,298
32
$229
$4,300,000
99%
*Denver Metro Counties: Arapahoe, Adams, Denver, Broomfield, Douglas, and Jefferson. All residential properties.
January - December 2023 | 3
AT A G L A N C E
Greater Denver Metro As a city with a focus on the outdoors and 300 days of sunshine, it’s no wonder people choose to call Denver and the surrounding communities home. Denver Metro boasts some of the best entertainment options, business opportunities, and outdoor access in the country. For those reasons and many more, this city and its neighboring areas will continue to be a popular choice for home buyers and sellers. As this year progresses, this high-demand market will continue to create opportunities for both buyers and sellers to create the life they love.
Jan - Dec
2023
% Change YTD 2022 vs 2023
Median Sold Price
$587,500
-1.7%
Properties Sold
34,645
-19.1%
Average Days on Market
31
63.2%
Average Price per Sq. Ft.
$327
-2.4%
% Sold Price, to List Price
100.0%
-2.0%
Counties: Arapahoe, Adams, Denver, Broomfield, Douglas, and Jefferson. All residential properties.
4 | livsothebysrealty.com
MEDIAN SOLD PRICE January - December 2023
Total Sales Volume
$23,979,200,864
$625k $600k $575k $550k
Change | 2022 vs 2023
$525k
- 18.8%
Jan Feb Mar Apr May Jun Jul
Aug Sep Oct Nov Dec
AV E R AG E DAYS O N M A R K E T January - December 2023
49
51 45
39
38 30
Jan
Feb
Mar
Apr
32
29 22
23
23
24
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
TOTA L SA L ES VO LU M E January - December 2023
$3.0B $2.5B $2.0B $1.5B
Jan Feb Mar Apr May Jun Jul
$1.5B
$1.5B
$1.8B
$1.9B
$2.3B
$2.2B
$2.6B
$2.6B
$2.2B
$2.3B
$15,000,000
$1.6B
Highest Sold Price
$1.1B
$1.0B
Aug Sep Oct Nov Dec
Based on Information from REColorado for the period January 1st, 2023 - December 31st, 2023 (Powered by LiveBy). 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.
January - December 2023 | 5
Denver Metro Median Sold Price
Properties Sold
$587,500
34,645
- 1.7% Change | 2022 vs 2023
- 19.1% Change | 2022 vs 2023
Average Days on Market
Price per Square Foot
31
$327
+ 63.2% Change | 2022 vs 2023
- 2.4% Change | 2022 vs 2023
6 | livsothebysrealty.com
Live Data
Properties Sold
Median Sold Price
Average Days on Market
Click for Live Data
City of Denver
7,744
$574,825
30
Live Data
Broomfield
727
$669,900
27
Live Data
Commerce City
1,124
$532,000
39
Live Data
Englewood
369
$560,000
25
Live Data
Littleton
465
$625,000
26
Live Data
Aurora
4,635
$475,000
32
Live Data
Centennial
1,179
$652,000
26
Live Data
Greenwood Village
160
$1,675,000
30
Live Data
Cherry Hills Village
100
$3,350,000
36
Live Data
Thornton
1,656
$550,000
33
Live Data
Westminster
1,230
$525,000
23
Live Data
Click for Community Data
January - December 2023 | 7
South Metro Median Sold Price
Properties Sold
$700,000
5,633
- 0.8% Change | 2022 vs 2023
- 17.1% Change | 2022 vs 2023
Average Days on Market
Price per Square Foot
38
$292
+ 65.2% Change | 2022 vs 2023
- 1.4% Change | 2022 vs 2023
8 | livsothebysrealty.com
Live Data
Properties Sold
Median Sold Price
Average Days on Market
Click for Live Data
Highlands Ranch
1,108
$695,000
24
Live Data
Lone Tree
120
$1,107,693
33
Live Data
Parker
1,011
$655,000
36
Live Data
Castle Rock
1,244
$656,250
36
Live Data
Castle Pines
229
$950,000
40
Live Data
Sedalia
25
$1,299,000
64
Live Data
Franktown
3
$1,202,400
71
Live Data
Larkspur
79
$995,000
49
Live Data
Click for Community Data
January - December 2023 | 9
West Metro & Foothills Median Sold Price
Properties Sold
$625,000
6,929
- 1.1% Change | 2022 vs 2023
- 16.9% Change | 2022 vs 2023
Average Days on Market
Price per Square Foot
27
$342
+ 58.8% Change | 2022 vs 2023
+ 0.3% Change | 2022 vs 2023
10 | livsothebysrealty.com
Live Data
Properties Sold
Median Sold Price
Average Days on Market
Click for Live Data
Arvada
1,559
$609,900
26
Live Data
Lakewood
1,654
$580,000
23
Live Data
Wheat Ridge
371
$625,000
27
Live Data
Evergreen
130
$883,500
29
Live Data
Morrison
88
$818,700
33
Live Data
Golden
154
$804,750
26
Live Data
Conifer
165
$807,884
40
Live Data
Click for Community Data
January - December 2023 | 11
AT A G L A N C E
Boulder Boulder County is filled with communities that offer a variety of lifestyles and opportunities for home buyers to create their desired environment. As a national leader in sustainability efforts and bountiful recreation options, Boulder County attracts those looking for a combination of exciting city luxuries and proximity to nature that few other areas offer. Over the past few years, Boulder County and the unique communities within it have seen strong real estate activity because of the unique lifestyle the area provides.
Jan - Dec
2023
% Change YTD 2022 vs 2023
Median Sold Price
$760,000
0.0%
Properties Sold
3,317
-17.2%
Average Days on Market
57
35.7%
Average Price per Sq. Ft.
$434
-0.9%
% Sold Price, to List Price
99.0%
-2.9%
Boulder County. All residential properties.
12 | livsothebysrealty.com
MEDIAN SOLD PRICE January - December 2023
Total Sales Volume
$3,256,807,886
$800k $750k $700k $650k
Change | 2022 vs 2023
$600k
- 17.5%
Jan Feb Mar Apr May Jun Jul
Aug Sep Oct Nov Dec
AV E R AG E DAYS O N M A R K E T January - December 2023
76
78
64
62
58 52
Jan
Feb
Mar
Apr
52 46
47
May
Jun
Jul
51
51
Aug
Sep
Oct
67
Nov
Dec
TOTA L SA L ES VO LU M E January - December 2023
$400M $350M $300M $250M
Jan Feb Mar Apr May Jun Jul
$125M
$220M
$290M
$277M
$336M
$368M
$408M
$306M
$314M
$306M
$13,000,000
$196M
Highest Sold Price
$163M
$200M
Aug Sep Oct Nov Dec
Based on Information from IRES, LLC and REColorado for the period January 1st, 2023 - December 31st, 2023 (Powered by LiveBy). This representation is based in whole or in part on data supplied by IRES, LLC and REColorado. IRES, LLC and REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by IRES, LLC and REColorado may not reflect all real estate
January - December 2023 | 13
Boulder Median Sold Price
Properties Sold
$760,000
3,317
0.0% Change | 2022 vs 2023
- 17.2% Change | 2022 vs 2023
Average Days on Market
Price per Square Foot
57
$434
+ 35.7% Change | 2022 vs 2023
- 0.9% Change | 2022 vs 2023
14 | livsothebysrealty.com
Live Data
Properties Sold
Median Sold Price
Average Days on Market
Click for Live Data
City of Boulder
885
$1,015,000
57
Live Data
Longmont
982
$575,000
55
Live Data
Louisville
195
$875,000
44
Live Data
Niwot
54
$1,292,500
68
Live Data
Erie
547
$729,900
51
Live Data
Lafayette
272
$708,750
47
Live Data
Superior
139
$802,235
66
Live Data
Click for Community Data
January - December 2023 | 15
AT A G L A N C E
Northern Colorado Northern Colorado is home to cities such as Fort Collins, Loveland, Greeley, Berthoud, Windsor, Johnston, and Timnath, all which provide the unique Colorado lifestyle while continuing to attract young professionals, families, and outdoor adventure seekers alike. At the base of the Rocky Mountains, there are multiple year-round recreational opportunities including kayaking, rafting, camping, snowshoeing, ice hockey, and cross-country skiing. Downtown Fort Collins offers a wholesome community feel and hints at a bygone era. Craft breweries, historical buildings, live music, and festivals keep the area bustling. For those looking to live a quintessential Colorado lifestyle, nothing beats Northern Colorado.
Jan - Dec
2023
% Change YTD 2022 vs 2023
Median Sold Price
$535,000
0.0%
Properties Sold
7,749
-20.4%
Average Days on Market
36
71.4%
Average Price per Sq. Ft.
$282
-0.4%
% Sold Price, to List Price
99.0%
-2.9%
Cities: Fort Collins, Loveland, Greeley, Berthoud, Windsor, Johnstown, and Timnath. All residential properties.
16 | livsothebysrealty.com
MEDIAN SOLD PRICE January - December 2023
Total Sales Volume
$4,758,943,998
$575k $550k $525k $500k
Change | 2022 vs 2023
$475k
- 18.8%
Jan Feb Mar Apr May Jun Jul
Aug Sep Oct Nov Dec
AV E R AG E DAYS O N M A R K E T January - December 2023
52
52 46
49
44
31
Jan
Feb
Mar
Apr
May
40
42
Oct
Nov
34 29
28
Jun
Jul
31
Aug
Sep
Dec
TOTA L SA L ES VO LU M E January - December 2023
$600M $500M $400M $300M
Jan Feb Mar Apr May Jun Jul
$295M
$286M
$343M
$400M
$457M
$447M
$533M
$541M
$429M
$437M
$16,000,000
$326M
Highest Sold Price
$256M
$200M
Aug Sep Oct Nov Dec
Based on Information from REColorado for the period January 1st, 2023 - December 31st, 2023 (Powered by LiveBy). 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.
January - December 2023 | 17
Northern Colorado Median Sold Price
Properties Sold
$535,000
7,749
0.0% Change | 2022 vs 2023
- 20.4% Change | 2022 vs 2023
Average Days on Market
Price per Square Foot
36
$282
+ 71.4% Change | 2022 vs 2023
- 0.4% Change | 2022 vs 2023
18 | livsothebysrealty.com
Live Data
Properties Sold
Median Sold Price
Average Days on Market
Click for Live Data
Fort Collins
1,579
$555,000
25
Live Data
Loveland
1,037
$499,900
32
Live Data
Greeley
1,053
$410,000
32
Live Data
Berthoud
259
$579,900
44
Live Data
Windsor
744
$565,000
43
Live Data
Johnstown
468
$504,188
47
Live Data
Timnath
144
$740,000
51
Live Data
Click for Community Data
January - December 2023 | 19
AT A G L A N C E
Colorado Springs Colorado Springs, the state’s second largest city, is currently one of the most sought-after areas to live in the country. This colorful Colorado community provides its residents exciting entertainment options, unique cultural amenities, and enough outdoor activities to keep any adventurer satisfied. Thanks to the amazing array of lifestyles this city caters to, more consumers are deciding to make this community their home.
Jan - Dec
2023
% Change YTD 2022 vs 2023
Median Sold Price
$442,500
-2.8%
Properties Sold
8,837
-27.0%
Average Days on Market
37
85.0%
Average Price per Sq. Ft.
$229
-2.2%
% Sold Price, to List Price
100.0%
0.0%
Counties: El Paso and Teller. All residential properties.
20 | livsothebysrealty.com
MEDIAN SOLD PRICE January - December 2023
Total Sales Volume
$4,445,233,960
$480k $460k $440k $420k
Change | 2022 vs 2023
$400k
- 27.1%
Jan Feb Mar Apr May Jun Jul
Aug Sep Oct Nov Dec
AV E R AG E DAYS O N M A R K E T January - December 2023
49
47
46
43 39
37 24
Jan
Feb
Mar
Apr
May
17
18
Jun
Jul
31
30
Aug
Sep
33
Oct
Nov
Dec
TOTA L SA L ES VO LU M E January - December 2023
$500M $400M $300M
Jan Feb Mar Apr May Jun Jul
$210M
$234M
$256M
$299M
$348M
$324M
$435M
$391M
$329M
$322M
$4,500,000
$229M
Highest Sold Price
$207M
$200M
Aug Sep Oct Nov Dec
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1st, 2023 - December 31st, 2023. 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.
January - December 2023 | 21
Colorado Springs Median Sold Price
Properties Sold
$442,500
8,837
- 2.8% Change | 2022 vs 2023
- 27.0% Change | 2022 vs 2023
Average Days on Market
Price per Square Foot
37
$229
+ 85.0% Change | 2022 vs 2023
- 2.2% Change | 2022 vs 2023
22 | livsothebysrealty.com
Live Data
Properties Sold
Median Sold Price
Average Days on Market
Click for Live Data
Black Forest
153
$1,035,000
50
Live Data
Broadmoor
155
$914,900
35
Live Data
Flying Horse
97
$940,953
72
Live Data
Monument
552
$725,000
45
Live Data
Banning Lewis Ranch
275
$520,000
38
Live Data
Click for Community Data
January - December 2023 | 23
Inspiring people to LIV the life they love.
ColoradoMarketReports.com © 2024 LIV Sotheby’s International Realty. All Rights Reserved. LIV Sotheby’s International Realty® is a registered trademark and used with permission. Each Sotheby’s International Realty office is independently owned and operated, except those operated by Sotheby’s International Realty, Inc. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing Opportunity.