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LIV

RESIDENTIAL LUXURY REPORT January - September 2016


PORTRAIT OF AN AFFLUENT AMERICAN CONSUMER Many affluent American consumers, defined as those with $2 million or more in investable assets, own MULTIPLE PROPERTIES. On average, affluent consumers in the U.S. currently own 3 homes.

Affluent American consumers are not only investing in property– they consider themselves part of the investor class. When asked what best described them, a majority said “AN INVESTOR.”

INVESTOR

INNOVATOR

TRENDSETTER

PHILANTHROPIST

PURCHASING MOTIVATIONS AT A GLANCE A survey of Sotheby’s International Realty network members revealed the following factors influenced a real estate purchase:

FAMILY NEEDS

LOCATION

RETURN ON INVESTMENT

LIFESTYLE


LUXURY MARKET AT A GLANCE - $1M+ The Residential Luxury Report, prepared by LIV Sotheby’s International Realty, compares 2016 January - September statistics, to that of 2015, for single family homes and condos priced $1M and above in the areas the brokerage services; Denver Metro (including Boulder) and the Resort communities of Eagle and Summit County. The luxury home market continues to grow in Colorado. As one of the fastest growing states, Colorado’s growing popularity and fortified economy is cause for an increase in activity within the luxury sector. Demonstrating the trend of upward growth, January - September 2016 property sales, within the seven counties of Denver metro (including Boulder) represented in this report, rose 18.7% over January - September 2015 statistics; average price per square foot jumped 7% and recent numbers indicate that days on the market have dropped 7.8%. Total dollar volume sold increased by 20.7%.

DENVER METRO (INCLUDING BOULDER) January through September

2010

2011

2012

2013

2014

405

432

552

758

809

$357

$269

$310

$325

$348

213

204

309

155

111

$7,000,000

$8,200,000

$7,500,000

$8,691,000

$5,950,000

$628,497,406

$661,697,294

$829,936,415

$1,156,560,711

$1,256,677,175

January through September

2015

2016

% Change

Number of Properties Sold

1,040

1,234

18.7%

Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Total Dollar Volume

Average Price per Square Foot Average Days on Market Highest Price Total Dollar Volume

INCLUDED COUNTIES: ADAMS

$352

$377

7.0%

ARAPAHOE

103

95

-7.8%

BROOMFIELD

$11,000,000

$6,705,241

-39.0%

$1,569,293,444

$1,894,534,695

20.7%

BOULDER DENVER DOUGLAS JEFFERSON

RESIDENTIAL LUXURY REPORT JANUARY - SEPTEMBER 2016 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS may not reflect all real estate activity in the market.


LUXURY MARKET | MARKETS BY COUNTY

DENVER COUNTY January through September

2010

2011

2012

2013

2014

2015

2016

% Change

105

122

166

225

230

324

394

21.6%

Average Price per Sq. Ft.

$387

$357

$376

$416

$420

$442

$461

4.2%

Average Days on Market

196

180

155

102

62

76

71

-6.6%

$5,700,000

$3,815,000

$5,400,000

$4,100,000

$4,925,000

$4,550,000

$5,600,000

23.1%

$163,956,184

$172,312,852

$244,276,077

$330,062,207

$335,685,794

$479,563,780

$591,674,711

23.4%

Number of Properties Sold

Highest Price Total Dollar Volume

ARAPAHOE COUNTY January through September

2010

2011

2012

2013

2014

2015

2016

% Change

95

99

126

173

167

191

200

4.7%

Average Price per Sq. Ft.

$332

$326

$348

$359

$389

$394

$408

3.5%

Average Days on Market

$231

198

196

204

124

116

110

-5.2%

$7,000,000

$8,200,000

$7,500,000

$7,000,000

$5,950,000

$11,000,000

$6,530,000

-40.6%

$153,885,010

$171,009,212

$221,838,139

$302,242,666

$314,383,011

$328,112,156

$353,799,451

7.8%

2010

2011

2012

2013

2014

2015

64

66

78

121

135

151

169

11.9%

Average Price per Sq. Ft.

$354

$328

$299

$325

$366

$344

$365

6.0%

Average Days on Market

320

294

271

194

128

129

134

3.9%

Highest Price

$3,630,000

$3,150,000

$3,000,000

$3,400,000

$4,000,000

$3,075,000

$6,705,241

118.1%

Total Dollar Volume

$94,732,912

$94,529,437

$106,165,713

$163,759,623

$193,809,099

$210,724,298

$246,398,380

16.9%

Number of Properties Sold

Highest Price Total Dollar Volume

DOUGLAS COUNTY January through September Number of Properties Sold

2016 % Change

JEFFERSON COUNTY January through September

2010

2011

2012

2013

2014

2015

30

36

34

46

61

91

116

27.5%

Average Price per Sq. Ft.

$337

$308

$309

$330

$329

$339

$341

0.6%

Average Days on Market

207

312

253

258

188

155

153

-1.3%

Highest Price

$2,200,000

$2,575,000

$3,500,000

$8,691,000

$2,755,000

$3,350,000

$3,000,000

-10.4%

Total Dollar Volume

$41,321,250

$49,705,601

$50,357,236

$73,740,845

$85,056,204

$122,037,020

$154,936,051

27.0%

Number of Properties Sold

2016 % Change

RESIDENTIAL LUXURY REPORT JANUARY - SEPTEMBER 2016 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS may not reflect all real estate activity in the market.


LUXURY MARKET | MARKETS BY COUNTY

BOULDER COUNTY January through September

2010

2011

2012

2013

2014

2015

2016

% Change

Number of Properties Sold

103

105

145

187

201

269

334

24.2%

Average Days on Market

186

209

152

119

112

83

103

24.1%

$4,450,000

$4,313,200

$4,050,000

$4,550,000

$5,300,000

$4,900,000

$6,250,000

27.6%

$161,353,475

$168,940,192

$203,079,250

$279,045,170

$308,346,008

$407,300,757

$518,203,002

27.2%

Highest Price Total Dollar Volume

BROOMFIELD COUNTY January through September

2010

2011

2012

2013

2014

2015

2016

% Change

3

-

1

5

9

2

10

400.0%

Average Price per Sq. Ft.

$460

-

$276

$280

$309

$391

$392

0.4%

Average Days on Market

12

-

1,084

51

65

75

37

-50.7%

Highest Price

$3,480,000

-

$1,200,000

$1,610,200

$1,868,000

$2,900,000

$2,100,000

-27.6%

Total Dollar Volume

$6,334,320

-

$1,200,000

$6,690,200

$11,229,059

$4,050,000

$14,250,250

251.9%

2010

2011

2012

2013

2014

2015

2016

% Change

5

4

2

1

6

11

11

0.0%

Average Price per Sq. Ft.

$274

$296

$251

$237

$272

$290

$293

1.2%

Average Days on Market

340

236

55

155

98

92

58

-37.0%

$2,400,000

$1,675,000

$2,000,000

$1,020,000

$1,750,000

$1,429,000

$1,880,000

31.6%

$6,914,255

$5,200,000

$3,020,000

$1,020,000

$8,168,000

$17,505,633

$15,272,850

-12.8%

Number of Properties Sold

ADAMS COUNTY January through September Number of Properties Sold

Highest Price Total Dollar Volume

GROWING WEALTH Yielding a RETURN ON INVESTMENT is a key driver in the purchase of a property for affluent consumers. Compared to 5 years ago, a majority are more confident in the strength of the housing market in their country of primary residence.

RESIDENTIAL LUXURY REPORT JANUARY - SEPTEMBER 2016 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors速 and SAR MLS may not reflect all real estate activity in the market.


RESORT LUXURY MARKET - $1M+

The Residential Luxury Report, prepared by LIV Sotheby’s International Realty, compares 2016 January - September statistics, to that of 2015, for single family homes and condos priced $1M and above. In the resort mountain area of Eagle County and Vail Valley, the luxury market remains competitive with a steady influx of buyers seeking lifestyle-inspired home purchases, just in time for the upcoming ski season. Average price per square foot held at $789, indicating that as the economy gets stronger people are more willing to spend extra dollars to purchase the homes in the location they truly desire. Eagle County saw a higher volume of activity, with number of properties sold up 5.7%. Average days on the market increased slightly to 295, demonstrating an average time on market for home buying in the resort luxury sector. In the resort mountain area of Summit County, increased homeowner equity and property values demonstrate a balanced residential luxury market. The proximity to both the urban offerings of Denver metro (less than two hours away), and the famous Colorado Rocky Mountains, position Summit County as one of the most sought after resort destinations worldwide. With the increasing desire for lifestyleinspired home purchases, the resort luxury market in Summit County will continute to grow. Year-over-year, number of properties sold was up 7.4% at 276, and total dollar volume increased 5%.

EAGLE COUNTY (VAIL VALLEY, AVON, BEAVER CREEK, BACHELOR GULCH, CORDILLERA, ETC.) January through September

2010

2011

2012

2013

2014

2015

2016

% Change

234

157

195

192

231

261

276

5.7%

Average Price per Sq. Ft.

$860

$828

$794

$707

$808

$796

$789

-0.9%

Average Days on Market

280

359

321

334

309

274

295

7.7%

$14,817,600

$12,500,000

$14,100,000

$13,550,000

$19,000,000

$15,750,000

$14,692,500

-6.7%

$638,094,547

$423,261,275

$561,655,751

$438,207,382

$639,055,893

$701,669,289

$644,636,924

-8.1%

Number of Properties Sold

Highest Price Total Dollar Volume

SUMMIT COUNTY (BRECKENRIDGE, COPPER MOUNTAIN, FRISCO, DILLON, KEYSTONE, ETC.) January through September

2010

2011

2012

2013

2014

2015

2016

% Change

92

84

93

102

110

148

159

7.4%

Average Price per Sq. Ft.

$593

$382

$354

$424

$427

$493

$489

-0.8%

Average Days on Market

265

307

240

174

197

172

166

-3.5%

2,700,000

3,275,000

5,570,130

3,400,000

3,640,593

3,825,000

5,675,000

48.4%

$140,132,664

$123,310,311

$140,397,916

$145,061,254

$164,123,170

$235,128,434

$246,785,540

5.0%

Number of Properties Sold

Highest Price Total Dollar Volume

LOCATION IS KING

RESIDENTIAL LUXURY REPORT JANUARY - SEPTEMBER 2016 | COLORADOMARKETREPORTS.COM Based on $1,000,000+ sales in Metropolitan Denver, Boulder, Eagle County and Summit County. Based on information from REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. This representation is based in whole or in part on data supplied by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS. REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado, IRES, LLC, Vail Board of Realtors® and SAR MLS may not reflect all real estate activity in the market.


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coloradomarketreports.com | livsothebysrealty.com

Colorado Residential Luxury Report - Quarter 3, 2016  

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