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LIV

RESIDENTIAL LUXURY REPORT Mid-Year 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 mid-year statistics, to that of 2015, for single family homes and condos priced $1M and above. The luxury home market remains competitive in Colorado. As one of the fastest growing states, Colorado’s growing popularity and influx of people moving to the state, are cause for a fortified luxury sector at the mid-year point of 2016. Demonstrating the trend of upward growth, mid-year property sales, within the seven counties of Denver metro (including Boulder) represented in this report, rose 19.81% over mid-year 2015 statistics; average price per square foot jumped 2.41% and recent numbers indicate that days on the market have dropped 11.32%. Total dollar volume sold increased by 22.13%.

LUXURY METRICS January through June Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Total Dollar Volume

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

2010

2011

2012

2013

2014

261

277

350

467

502

$359

$262

$266

$317

$343

218

215

316

167

227

$4,950,000

$6,180,000

$5,250,000

$8,691,000

$5,950,000

$410,857,617

$420,043,872

$520,806,242

$703,219,812

$785,025,622

2015

2016

% Change

646

774

19.81%

$366

$375

2.41%

111

98

-11.32%

$4,650,000

$6,705,000

44.19%

$967,880,809

$1,182,107,321

22.13%

INCLUDED COUNTIES: ADAMS ARAPAHOE BOULDER BROOMFIELD DENVER DOUGLAS JEFFERSON

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | 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 June

2010

2011

2012

2013

2014

2015

2016

% Change

63

76

102

144

142

201

249

23.88%

Average Price per Sq. Ft.

$389

$344

$367

$403

$432

$444

$451

1.68%

Average Days on Market

207

201

182

122

70

85

75

-11.76%

Highest Price

$4,500,000

$2,500,000

$5,250,000

$4,100,000

$4,925,000

$4,550,000

$5,439,000

19.54%

Total Dollar Volume

$99,153,816

$103,537,099

$150,638,022

$211,095,072

$214,887,454

$295,360,948

$369,507,709

25.10%

Number of Properties Sold

ARAPAHOE COUNTY January through June

2010

2011

2012

2013

2014

2015

2016

% Change

62

62

76

98

109

114

124

8.77%

Average Price per Sq. Ft.

$334

$327

$339

$341

$385

$381

$408

6.99%

Average Days on Market

$232

187

188

244

125

125

103

-17.60%

$4,950,000

$6,180,000

$4,500,000

$7,000,000

$5,950,000

$4,650,000

$6,530,000

40.43%

$99,288,802

$101,832,498

$126,167,747

$161,378,148

$209,477,016

$191,195,514

$222,674,759

16.46%

Number of Properties Sold

Highest Price Total Dollar Volume

DOUGLAS COUNTY January through June

2010

2011

2012

2013

2014

2015

37

42

50

72

78

89

108

21.35%

Average Price per Sq. Ft.

$355

$309

$298

$324

$336

$341

$364

6.81%

Average Days on Market

319

348

325

225

147

167

138

-17.37%

Highest Price

$3,630,000

$3,050,000

$3,000,000

$2,550,000

$4,000,000

$2,750,000

$6,705,000

143.82%

Total Dollar Volume

$56,429,162

$61,191,450

$69,326,568

$95,258,704

$110,900,422

$124,816,315

$160,954,591

28.95%

Number of Properties Sold

2016 % Change

JEFFERSON COUNTY January through June

2010

2011

2012

2013

2014

2015

2016

% Change

22

26

21

30

41

55

61

10.91%

Average Price per Sq. Ft.

$339

$312

$315

$333

$323

$354

$332

-6.09%

Average Days on Market

225

353

280

283

187

141

188

33.33%

$2,200,000

$2,575,000

$2,600,000

$8,691,000

$2,755,000

$3,350,000

$2,914,000

-13.01%

$30,839,250

$35,595,903

$30,043,105

$51,320,622

$56,291,250

$74,952,720

$80,444,626

7.33%

Number of Properties Sold

Highest Price Total Dollar Volume

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | 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 June Number of Properties Sold Average Days on Market Highest Price Total Dollar Volume

2010

2011

2012

2013

2014

2015

2016

% Change

69

69

100

118

122

178

218

22.47%

194

216

156

135

128

78

60

-23.08%

$4,450,000

$4,150,000

$3,100,000

$4,400,000

$4,000,000

$4,495,000

$3,950,000

-12.12%

$111,898,012

$114,861,922

$143,430,800

$177,697,066

$180,830,421

$268,651,312

$328,590,786

22.31%

BROOMFIELD COUNTY January through June

2010

2011

2012

2013

2014

2015

2016

% Change

3

0

1

4

5

2

7

250.00%

Average Price per Sq. Ft.

$460

-

$276

$262

$309

$391

$393

0.44%

Average Days on Market

12

-

1,084

5

60

75

51

-32.00%

Highest Price

$3,480,000

-

$1,200,000

$1,610,000

$1,310,099

$2,900,000

$2,100,000

-27.59%

Total Dollar Volume

$6,334,320

-

$1,200,000

$5,450,200

$5,721,059

$4,050,000

$10,300,000

154.32%

2010

2011

2012

2013

2014

2015

2016

% Change

5

2

0

1

5

7

7

0.00%

Average Price per Sq. Ft.

$274

$279

-

$237

$274

$287

$301

4.85%

Average Days on Market

340

198

-

155

105

107

74

-30.84%

$2,400,000

$1,675,000

-

$1,020,000

$1,750,000

$1,429,000

$1,376,000

-3.71%

$6,914,255

$3,025,000

-

$1,020,000

$6,918,000

$8,854,000

$9,634,850

8.82%

Number of Properties Sold

ADAMS COUNTY January through June 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 MID-YEAR 2015 | 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 mid-year statistics, to that of 2015, for single family homes and condos priced $1M and above. In the resort mountain area of Eagle County, the luxury market remains competitive with a steady influx of buyers seeking lifestyle-inspired home purchases. Average price per square foot held at $854, indicating that as the economy gets stronger people are more willing to spend extra dollars to purchase the homes they truly desire. At the mid-year point of 2016, Eagle County saw a slightly lesser volume of activity, with number of properties sold, down slightly, at 4.29%. Average days on market held at 310, a consistent time on market for luxury real estate in the resort sector. In the resort mountain area of Summit County, increased homeowner equity and property values demonstrate a balanced residential luxury market at the mid-year point of 2016. The proximity to both the urban offerings of Denver metro, 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 market in Summit County will remain at a continued strong pace. Year-over-year, number of properties sold held at 80, down just 1% from 81 properties sold in 2015, and total dollar volume increased 3.08%.

EAGLE COUNTY January through June

2010

2011

2012

2013

2014

2015

2016

% Change

159

108

124

119

161

163

156

-4.29%

Average Price per Sq. Ft.

$872

$901

$872

$703

$833

$856

$854

-0.23%

Average Days on Market

292

380

351

293

238

311

310

-0.32%

$14,817,600

$12,500,000

$14,100,000

$13,550,000

$19,000,000

$15,750,000

$14,000,000

-11.11%

$441,348,766

$325,725,275

$382,528,751

$268,389,100

$459,530,231

$454,338,449

$364,880,454

-19.69%

2010

2011

2012

2013

2014

2015

2016

% Change

60

46

40

52

58

81

80

-1.23%

Average Price per Sq. Ft.

$689

$404

$342

$452

$440

$496

$429

-13.51%

Average Days on Market

526

340

269

280

244

202

232

14.85%

Highest Price

$2,700,000

$2,685,000

$3,742,500

$3,400,000

$3,640,593

$3,700,000

$5,675,000

53.38%

Total Dollar Volume

$91,959,750

$71,882,294

$61,654,928

$79,314,236

$89,713,292

$130,900,012

$134,930,773

3.08%

Number of Properties Sold

Highest Price Total Dollar Volume

SUMMIT COUNTY January through June Number of Properties Sold

LOCATION IS KING

RESIDENTIAL LUXURY REPORT MID-YEAR 2015 | 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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Colorado Residential Luxury Report - Mid Year, 2016  

Residential Luxury Report for Colorado provided by LIV Sotheby's International Realty - Mid Year, 2016

Colorado Residential Luxury Report - Mid Year, 2016  

Residential Luxury Report for Colorado provided by LIV Sotheby's International Realty - Mid Year, 2016