QUARTER 1 2022
Luxury Report
5976 Stone Creek Drive, Evergreen
174 Gore Creek Drive, Vail
1
RESIDENTIAL LUXURY REPORT INTRODUCTION
The last two years have continued to prove that luxury real estate is a valuable investment and a top priority for consumers across the nation. In Colorado, we are seeing continued growth and steady property appreciation, which illustrates the strength of the market throughout the state’s diverse communities. Overall, most areas throughout the Front Range and resort areas are experiencing upticks in the number of luxury homes sold, indicating that now is a great time for sellers to list their homes and for buyers to enter the market. LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a quarterly Residential Luxury Report. This report compares January through March of 2022 to the same time frame in 2021, measuring the performance of luxury real estate markets in some of Colorado’s most popular communities. The statistics in this report show sales data for single family homes and condos for Denver Metro ($1 million+), South Metro ($1 million+), the Foothills ($1 million+), Boulder ($1 million+), Colorado Springs ($1 million+), Grand County ($1 million+), Summit County ($2 million+), Crested Butte ($2 million+), the Vail Valley ($3 million+), and Telluride ($3 million+).
03
11
15
18
21
24
27
29
31
35
P. DENVER METRO $1 Million +
P. COLORADO SPRINGS $1 Million +
P. SOUTH METRO $1 Million +
P. GRAND COUNTY $1 Million +
P. VAIL VALLEY $3 Million +
2
P. FOOTHILLS $1 Million +
P. SUMMIT COUNTY $2 Million +
P. TELLURIDE $3 Million +
P. BOULDER $1 Million +
P. CRESTED BUTTE $2 Million +
DENVER METRO LUXURY MARKET Luxury real estate continues to lead the market in Denver Metro. Looking at the six-county Denver Metro area, the number of luxury listings sold rose by 28.2% through Q1 2022 compared to the same period in 2021 – totaling 900 luxury homes sold. Overall, the average sale price of luxury listings in the area decreased slightly by 1.7%, bringing the average price in Denver Metro to $1,583,825. The total dollar volume sold in the Denver Metro area rose by 26.1%, year over year, to $1,425,442,685 during Q1 of 2022. Several individual neighborhoods within Denver Metro also saw increases in buying activity at the start of 2022. In the City of Denver, the number of listings sold for more than $1,000,000 increased by 10.9%. There were 100% more sales of properties in Cherry Hills Village with less than an acre of land through March of this year January through March 2021 2022 % Change compared to the same time frame last year.
DENVER METRO
702
900
28.2%
$478
$551
15.3%
56
19
-66.1%
Highest Price
$8,224,000
$9,000,000
9.4%
Average List Price
$1,582,885
$1,435,859
-9.3%
Average Sale Price
$1,610,784
$1,583,825
-1.7%
99.7%
104.1%
4.4%
$1,130,770,434
$1,425,442,685
26.1%
# of Properties Sold
The average sale price for homes in various neighborhoods appreciated over the last year in Denver Metro. For example, luxury listings in Cherry Creek North sold for 28.6% more through March of this year compared to January through March of 2021. The average sale price for homes in this area during Q1 was $2,309,915. Part of this notable increase can be attributed to the incredible $9,000,000 sale of a local penthouse, which was 167.9% higher than the highest sale price during Q1 of last year.
Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson
Other areas showing appreciating sale prices include Hilltop, where homes sold for 38.9% more than last year for an average price of $2,389,362; Washington Park East/Central, where homes sold for 16.5% more for an average price of $2,105,881; and Bonnie Brae/Belcaro, where homes sold for 2.5% more for an average price of$ 2,033,333.
Based on $1,000,000+ sales in Adams, Arapahoe, Broomfield, Denver, Douglas, and Jefferson Counties. This representation is based in whole or in part on data supplied from REColorado on April 5, 2022. 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.
+ $1,000,000 Sales
3
DENVER (CITY)
January through March
2021
2022
% Change
376
417
10.9%
$570
$683
19.8%
50
24
-52.0%
$8,224,000
$9,000,000
9.4%
Average List Price
$1,639,235
$1,565,806
-4.5%
Average Sale Price
$1,644,202
$1,626,563
-1.1%
98.7%
106.2%
7.7%
$618,219,819
$678,276,744
9.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
BOW MAR/BOW MAR SOUTH
BONNIE BRAE/BELCARO
Boundaries: City of Denver
4
42.1%
The average price per square foot in Bonnie Brae/Belcaro increased by 42.1% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
13
11
-15.4%
$649
$923
42.1%
50
11
-78.0%
Highest Price
$4,895,000
$5,500,000
12.4%
Average List Price
$2,336,538
$2,407,400
3.0%
Average Sale Price
$2,349,004
$2,406,575
2.5%
99.3%
107.0%
7.8%
$30,537,050
$26,472,325
-13.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Mississippi to Cherry Creek Drive South; University to Colorado
13.0%
The total dollar volume in Bow Mar/ Bow Mar South increased by 13.0% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
1
3
200.0%
$679
$705
3.9%
1
4
300.0%
Highest Price
$5,400,000
$2,350,000
-56.5%
Average List Price
$5,400,000
$1,900,000
-64.8%
Average Sale Price
$5,400,000
$2,033,333
-62.3%
100.0%
111.9%
11.9%
$5,400,000
$6,100,000
13.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: West Quincy Avenue to West Bowles Avenue
2021
2022
% Change
28
25
-10.7%
$709
$822
15.9%
63
41
-34.9%
$3,360,000
$9,000,000
167.9%
Average List Price
$1,814,071
$2,522,104
39.0%
Average Sale Price
$1,796,000
$2,309,915
28.6%
95.8%
98.3%
2.6%
$50,288,000
$57,747,880
14.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
39.0% The average list price in Cherry Creek North increased by 39.0% in the first quarter of 2022 compared to that of 2021.
Boundaries: York to Colorado; 1st Avenue to 6th Avenue
2021
2022
% Change
9
13
44.4%
$679
$766
12.9%
81
46
-43.2%
$7,850,000
$9,000,000
14.6%
Average List Price
$5,147,222
$4,171,923
-18.9%
Average Sale Price
$4,803,333
$4,080,769
-15.0%
93.3%
97.5%
4.5%
$43,230,000
$53,050,000
22.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
(Over 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou
2021
2022
% Change
4
8
100.0%
$565
$720
27.5%
73
4
-94.5%
Highest Price
$3,210,000
$7,100,000
121.2%
Average List Price
$2,195,000
$2,555,000
16.4%
Average Sale Price
$2,138,125
$2,832,113
32.5%
92.2%
112.5%
22.1%
$8,552,500
$22,656,905
164.9%
# 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
The average number of days on market in Cherry Hills Village (over 1 acre) decreased by 43.2% in the first quarter of 2022 compared to that of 2021.
CHERRY HILLS VILLAGE
January through March
43.2%
CHERRY HILLS VILLAGE
January through March
CHERRY CREEK NORTH
January through March
5
COLUMBINE VALLEY
96.5% The average number of days on market in Columbine Valley decreased by 96.5% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
3
2
-33.3%
$486
$555
14.1%
85
3
-96.5%
Highest Price
$3,500,000
$2,925,000
-16.4%
Average List Price
$2,258,333
$2,525,000
11.8%
Average Sale Price
$2,221,667
$2,672,500
20.3%
95.6%
105.8%
10.7%
$6,665,000
$5,345,000
-19.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: South Polo Ridge Drive to West Bowles; Platte Canyon Road to South Platte River
COUNTRY CLUB
January through March
2021
2022
% Change
8
4
-50.0%
$789
$729
-7.7%
73
19
-74.0%
Highest Price
$6,075,000
$2,150,000
-64.6%
Average List Price
$3,576,250
$1,881,250
-47.4%
Average Sale Price
$3,601,017
$1,808,750
-49.8%
100.1%
91.1%
-9.0%
$28,808,133
$7,235,000
-74.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: University to Downing 1 - 4 ; Race to University 4th - 6th st
CRESTMOOR
January through March
190.2% The total dollar volume in Crestmoor increased by 190.2% in the first quarter of 2022 compared to that of 2021.
th
2021
2022
% Change
3
5
66.7%
$564
$682
21.0%
15
7
-53.3%
Highest Price
$1,450,000
$3,895,000
168.6%
Average List Price
$1,276,333
$2,123,000
66.3%
Average Sale Price
$1,299,667
$2,263,100
74.1%
98.9%
109.8%
11.1%
$3,899,000
$11,315,500
190.2%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Holly to Monaco; Bayaud to 6th Avenue
6
2021
2022
% Change
8
5
-37.5%
$455
$548
20.5%
50
7
-86.0%
$2,230,000
$2,200,000
-1.3%
Average List Price
$1,754,375
$1,580,000
-9.9%
Average Sale Price
$1,724,813
$1,670,200
-3.2%
96.8%
106.2%
9.8%
$13,798,500
$8,351,000
-39.5%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
GREENWOOD VILLAGE EAST
January through March
Boundaries: I-25 to Havana; Belleview to Orchard
2021
2022
% Change
2
1
-50.0%
$399
$697
74.6%
29
2
-93.1%
Highest Price
$1,850,000
$2,400,000
29.7%
Average List Price
$1,999,500
$2,300,000
15.0%
Average Sale Price
$1,774,500
$2,400,000
35.2%
90.2%
104.4%
15.7%
$3,549,000
$2,400,000
-32.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
(Over 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
2021
2022
% Change
11
12
9.1%
$533
$618
15.8%
34
17
-50.0%
Highest Price
$3,445,000
$6,725,000
95.2%
Average List Price
$2,306,636
$2,684,500
16.4%
Average Sale Price
$2,326,618
$2,746,992
18.1%
99.1%
104.0%
4.9%
$25,592,000
$32,963,900
28.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
(Under 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
The average price per square foot in Greenwood Village West (over 1 acre) increased by 74.6% in the first quarter of 2022 compared to that of 2021.
28.8% The total dollar volume in Greenwood Village West (under 1 acre) increased by 28.8% in the first quarter of 2022 compared to that of 2021.
GREENWOOD VILLAGE WEST
January through March
74.6%
GREENWOOD VILLAGE WEST
January through March
7
January through March
2021
2022
% Change
20
13
-35.0%
$520
$745
43.3%
43
5
-88.4%
Highest Price
$3,634,474
$4,000,000
10.1%
Average List Price
$1,778,800
$2,296,154
29.1%
Average Sale Price
$1,719,849
$2,389,362
38.9%
96.4%
105.1%
9.1%
$34,396,974
$31,061,700
-9.7%
# of Properties Sold
HILLTOP
Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
KEN CARYL NORTH RANCH
HUNTINGTON TRAILS/LEXINGTON
Boundaries: Alameda to 6th; Colorado to Holly
8
57.7%
The average price per square foot in Huntington Trails/Lexington increased by 57.7% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
5
4
-20.0%
$346
$546
57.7%
128
2
-98.4%
Highest Price
$1,807,500
$3,000,000
66.0%
Average List Price
$1,424,800
$1,853,250
30.1%
Average Sale Price
$1,418,900
$2,115,000
49.1%
101.6%
114.1%
12.3%
$8,460,000
19.2%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price
$7,094,500
Total Dollar Volume
Boundaries: Lexington Place to 144 Avenue; McKay Lake to Huron Street th
45.2% The total sales volume in Ken Caryl North Ranch increased by 45.2% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
2
2
0.0%
$321
$423
31.6%
18
9
-50.0%
Highest Price
$1,420,000
$2,127,500
49.8%
Average List Price
$1,350,000
$1,925,000
42.6%
Average Sale Price
$1,335,000
$1,938,750
45.2%
97.5%
100.7%
3.3%
$2,670,000
$3,877,500
45.2%
# 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
2021
2022
% Change
12
12
0.0%
$426
$562
31.9%
17
6
-64.7%
Highest Price
$1,507,000
$2,430,000
61.2%
Average List Price
$1,281,992
$1,430,250
11.6%
Average Sale Price
$1,300,417
$1,470,080
13.0%
100.4%
104.4%
4.0%
$15,605,000
$17,640,960
13.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
64.7%
The average number of days on market in Mayfair/Montclair decreased by 64.7% in the first quarter of 2022 compared to that of 2021.
Boundaries: Colorado to Quebec; 6th to Colfax
2021
2022
% Change
18
11
-38.9%
$543
$679
25.2%
71
23
-67.6%
Highest Price
$3,307,500
$3,500,000
5.8%
Average List Price
$2,103,261
$2,411,273
14.6%
Average Sale Price
$2,052,416
$2,482,235
20.9%
94.8%
103.3%
9.0%
$36,943,490
$27,304,584
-26.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
OBSERVATORY PARK
January through March
Boundaries: University to Colorado; Evans to Yale
January through March
2022
% Change
3
No Sales
-
$388
-
-
93
-
-
$3,900,000
-
-
Average List Price
$3,761,667
-
-
Average Sale Price
$3,341,667
-
-
89.6%
-
-
$10,025,000
-
-
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: North of Mineral; South of Arabian Place; West of the S Platte River; East of S. Platte Canyon Road
Polo Reserve is a luxury, gated community located in Littleton. The name “Polo Reserve” comes from the polo field and equestrian center within the gated community.
POLO RESERVE
2021
MAYFAIR/MONTCLAIR
January through March
9
SPRUCE MEADOWS WASHINGTON PARK EAST/CENTRAL
10
60.0% The average number of days on market in Spruce Meadows decreased by 60.0% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
2
1
-50.0%
$572
$491
-14.2%
20
8
-60.0%
Highest Price
$2,100,000
$2,750,000
31.0%
Average List Price
$1,975,000
$2,850,000
44.3%
Average Sale Price
$1,975,000
$2,750,000
39.2%
100.0%
96.5%
-3.5%
$3,950,000
$2,750,000
-30.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Federal Blvd to Zuni Street; High Prairie Way to 156th Avenue
January through March
2021
2022
% Change
27
28
3.7%
$685
$938
36.8%
44
19
-56.8%
Highest Price
$4,375,000
$3,615,000
-17.4%
Average List Price
$1,812,920
$2,002,214
10.4%
Average Sale Price
$1,807,259
$2,105,881
16.5%
95.2%
106.4%
11.8%
$48,796,000
$58,964,671
20.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Louisiana to Ellsworth, Ogden to University
SOUTH METRO LUXURY MARKET It appears many homebuyers found their luxury dream homes in South Metro as the number of high-end homes sold here increased by 38.6% during Q1 of 2022 compared to Q1 of 2021. The average price of those homes sold also rose, increasing by 2.4% to reach an average price of $1,532,221. These two factors played a role in the incredible 41.9% rise in total dollar volume, sold which reached $363,136,260 in Q1. The Village at Castle Pines stands out as a top destination within the South Metro community for buying and selling luxury homes. Here there was a 5.3% increase in the number of properties sold. The average price of luxury listings in this area rose as well. Homes in this neighborhood sold for an average price of $1,861,380 through March of this year – a 3.4% increase. Other notable price appreciations were observed in Keene Ranch, Heritage Hills, and Backcountry, where home prices increased by 11.9%, 14.9%, and 15.3%, respectively. These growing home values create ample opportunity for sellers to reach their lifestyle goals through real estate and, in turn, encourage more listings to come onto the market and increase inventory for buyers.
SOUTH METRO January through March
2021
2022
% Change
171
237
38.6%
$420
$455
8.3%
68
25
-63.2%
$3,725,000
$8,040,000
115.8%
Average List Price
$1,481,126
$1,357,019
-8.4%
Average Sale Price
$1,496,259
$1,532,221
2.4%
100.0%
101.3%
1.3%
$255,860,237
$363,136,260
41.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Douglas County
In addition to the appreciation of home values in South Metro, the speed of the market also increased as more buyers entered the local housing market. Homes in The Village at Castle Pines spent an average of 19 days on the market, which is 69.4% less time than the area’s average days on market during Q1 of 2021. This acceleration of the market is created by the sustained demand for local homes that are driving the real estate market in South Metro.
Based on $1,000,000+ sales in Douglas County. Based on information from REColorado. This representation is based in whole or in part on data supplied from REColorado on April 5, 2022. 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.
+ $1,000,000 Sales
11
BACKCOUNTRY
25.7%
The average price per square foot in Backcountry increased by 25.7% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
15
9
-40.0%
$392
$493
25.7%
7
10
42.9%
$2,705,000
$2,360,000
-12.8%
Average List Price
$1,434,199
$1,624,433
13.3%
Average Sale Price
$1,457,433
$1,681,100
15.3%
101.9%
103.7%
1.8%
$21,861,500
$15,129,900
-30.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
FALCON HILLS
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
6.8%
The average price per square foot in Falcon Hills increased by 6.8% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
1
1
0.0%
$274
$453
65.3%
102
4
-96.1%
Highest Price
$1,225,000
$2,250,000
83.7%
Average List Price
$1,299,500
$2,000,000
53.9%
Average Sale Price
$1,225,000
$2,250,000
83.7%
90.7%
112.5%
24.0%
$1,225,000
$2,250,000
83.7%
2021
2022
% Change
1
No Sales
-
$373
-
-
272
-
-
Highest Price
$1,550,000
-
-
Average List Price
$1,599,000
-
-
Average Sale Price
$1,550,000
-
-
88.6%
-
-
$1,550,000
-
-
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
HERITAGE ESTATES
January through March
12
# of Properties Sold
Heritage Estates was built around the fairways of the Lone Tree Golf Course and is located near downtown Lone Tree and Bluffs Regional Park, a popular hiking and biking spot for residents.
Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
2021
2022
% Change
9
5
-44.4%
$392
$453
15.5%
77
1
-98.7%
Highest Price
$1,740,000
$2,055,000
18.1%
Average List Price
$1,423,878
$1,593,663
11.9%
Average Sale Price
$1,429,000
$1,642,578
14.9%
98.6%
102.8%
4.2%
$12,861,000
$8,212,890
-36.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through March
2022
% Change
4
4
0.0%
$410
$532
29.5%
4
26
550.0%
$2,250,000
$2,892,000
28.5%
Average List Price
$1,546,225
$1,783,975
15.4%
Average Sale Price
$1,586,250
$1,775,500
11.9%
102.9%
94.3%
-8.4%
$6,345,000
$7,102,000
11.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
29.5%
The average price per square foot in Keene Ranch increased by 29.5% in the first quarter of 2022 compared to that of 2021.
KEENE RANCH
2021
HERITAGE HILLS
January through March
Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road
January through March
2022
% Change
6
2
-66.7%
$623
$854
37.2%
196
90
-54.1%
Highest Price
$3,150,000
$1,925,000
-38.9%
Average List Price
$2,182,333
$1,937,000
-11.2%
Average Sale Price
$2,121,167
$1,912,500
-9.8%
94.2%
102.1%
8.3%
$12,727,000
$3,825,000
-69.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: Colorado to Quebec; 6th to Colfax
37.2%
The average price per square foot in Ravenna increased by 37.2% in the first quarter of 2022 compared to that of 2021.
RAVENNA
2021
13
January through March
2021
2022
% Change
3
No Sales
-
$325
-
-
352
-
-
$1,500,000
-
-
Average List Price
$1,464,497
-
-
Average Sale Price
$1,391,667
-
-
86.5%
-
-
$4,175,000
-
-
2021
2022
% Change
19
20
5.3%
$481
$546
13.7%
62
19
-69.4%
Highest Price
$3,725,000
$3,800,000
2.0%
Average List Price
$1,828,047
$1,859,500
1.7%
Average Sale Price
$1,799,548
$1,861,380
3.4%
98.3%
101.8%
3.5%
$34,191,411
$37,227,605
8.9%
SPIRIT RIDGE
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
THE VILLAGE AT CASTLE PINES
Boundaries: University to Colorado; Evans to Yale
14
69.4% The average number of days on market in The Village at Castle Pines decreased by 69.4% in the first quarter of 2022 compared to that of 2021.
January through March # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: US 85 & Copper Blush to Northwood; Daniels Park to Gate 5, Country Club to I-25
FOOTHILLS LUXURY MARKET Nature meets luxury living in the Front Range’s Foothills community. Here, the number of luxury homes sold increased by 59.8% compared to Q1 of 2021. The average sale price of those homes sold rose by 2.1%, bringing the average sale price for luxury homes in the area to $1,447,732 through March of this year compared to the same period last year. Combined, these increases resulted in an impressive 63.2% rise in the total dollar volume sold, which reached $282,307,648 in Q1 2022. FOOTHILLS Demand for luxury homes in the Foothills paired with low inventory levels resulted in an appreciation of the average price for houses in many neighborhoods. The most significant increase was observed in Ridge at Hiwan, where the average sale price for luxury homes rose by 26.5% to reach $1,791,000 – making it the most expensive luxury neighborhood in the Foothills. Conversely, the most affordable luxury homes were in Soda Creek, where the average price through March of this year was $1,285,000 – 9.4% higher than the average sale price during the same period last year.
January through March
2021
2022
% Change
122
195
59.8%
$415
$514
23.8%
46
20
-56.5%
$4,315,000
$5,000,000
15.9%
Average List Price
$1,471,766
$1,334,152
-9.4%
Average Sale Price
$1,417,885
$1,447,732
2.1%
98.5%
104.3%
5.9%
$172,982,021
$282,307,648
63.2%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
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 from REColorado on April 5, 2022. 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.
+ $1,000,000 Sales
15
January through March
2021
2022
% Change
5
4
-20.0%
$391
$568
45.2%
50
30
-40.0%
Highest Price
$1,775,300
$2,369,080
33.4%
Average List Price
$1,489,600
$1,772,475
19.0%
Average Sale Price
$1,451,060
$1,706,020
17.6%
95.3%
98.5%
3.4%
$7,255,300
$6,824,080
-5.9%
# of Properties Sold
GENESEE
Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
RIDGE AT HIWAN
HANGEN RANCH
January through March
16
Hangen Ranch is a small neighborhood located in South Evergreen, providing a mix of modern, mountain and old-farm-style homes. With views of Mt. Evans and only minutes from Evergreen Lake, Hangen Ranch is perfect for those looking to enjoy the outdoors.
28.6%
The average home list price in Ridge at Hiwan increased by 28.6% in the first quarter of 2022 compared to that of 2021.
2021
2022
% Change
No Sales
No Sales
-
Average Price Per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
Average List Price
-
-
-
Average Sale Price
-
-
-
% Sold Price to List Price
-
-
-
Total Dollar Volume
-
-
-
2021
2022
% Change
6
3
-50.0%
$385
$468
21.4%
14
4
-71.4%
Highest Price
$1,620,000
$2,050,000
26.5%
Average List Price
$1,390,367
$1,788,333
28.6%
Average Sale Price
$1,415,867
$1,791,000
26.5%
102.0%
100.7%
-1.3%
$8,495,000
$5,373,000
-36.8%
# of Properties Sold
January through March # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through March
1
2
100.0%
$292
$370
26.6%
258
3
-98.8%
Highest Price
$1,850,000
$1,510,000
-18.4%
Average List Price
$1,950,000
$1,362,500
-30.1%
Average Sale Price
$1,850,000
$1,437,500
-22.3%
92.5%
105.6%
14.2%
$1,850,000
$2,875,000
55.4%
2021
2022
% Change
1
1
0.0%
$533
$307
-42.4%
11
116
954.5%
Highest Price
$1,175,000
$1,285,000
9.4%
Average List Price
$1,279,000
$1,395,000
9.1%
Average Sale Price
$1,175,000
$1,285,000
9.4%
91.9%
85.7%
-6.7%
$1,175,000
$1,285,000
9.4%
2021
2022
% Change
No Sales
No Sales
-
Average Price Per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
Average List Price
-
-
-
Average Sale Price
-
-
-
% Sold Price to List Price
-
-
-
Total Dollar Volume
-
-
-
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through March # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through March # of Properties Sold
55.4%
The total dollar volume in Riva Chase increased by 55.4% in the first quarter of 2022 compared to that of 2021.
SPRING RANCH
% Change
SODA CREEK
2022
RIVA CHASE
2021
17
BOULDER
LUXURY MARKET
Boulder County, a place where exciting city amenities and outdoor adventures meet, is a natural choice for homebuyers looking for an elevated take on Colorado living. Comparing Q1 of 2022 to the same period in 2021, there were 12.9% more high-end home sales in this popular real estate destination. Average sale prices in this neighborhood decreased marginally by just 0.1%, bringing the average sale price to $1,823,517. Homes in Boulder County spent an average of 62 days on the market through the first three months of the year – 32.6% less time than last year. The Downtown Boulder and Boulder County Plains communities also saw homebuying activity increase during the first quarter of the year. In Downtown Boulder, there were seven luxury homes sold. The average sale price of those homes sold was $1,967,143, which is 12.1% less than Q1 of 2021. There were 48 luxury homes sold in Boulder County Plains. High-end homes in this area sold for slightly less than they did last year, selling for an average price of $1,903,024.
BOULDER January through March # of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
2021
2022
% Change
202
228
12.9%
92
62
-32.6%
$6,600,000
$8,515,000
29%
$1,824,919
$1,823,517
-0.1%
98.4%
102.4%
4.1%
$368,633,651
$415,761,876
12.8%
Over the course of the year, home prices in several Boulder County neighborhoods trended upwards as well. The University Hill and Chautauqua neighborhood had the highest average sale price within Boulder County’s luxury home market, with listings selling for an average price of $2,232,308. Consumer looking to find luxury homes with slightly more affordability may find luck in the Boulder (City) area, where the average sale price for high-end listings was $1,887,504 through March of this 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 on April 5, 2022. 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.
18
+ $1,000,000 Sales
# of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
# of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
2022
% Change
159
159
0.0%
92
67
-27.2%
$6,450,000
$5,590,000
-13.3%
$1,837,458
$1,887,504
2.7%
99.1%
102.8%
3.8%
$292,155,863
$300,113,193
2.7%
2021
2022
% Change
45
48
6.7%
102
62
-39.2%
$6,600,000
$8,515,000
29.0%
$1,990,675
$1,903,024
-4.4%
95.1%
98.9%
4.1%
$89,580,384
$91,345,136
2.0%
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
# of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
2021
2022
% Change
6
7
16.7%
162
116
-28.4%
$6,200,000
$3,800,000
-38.7%
$2,239,167
$1,967,143
-12.1%
95.6%
97.0%
1.5%
$13,435,000
$13,770,000
2.5%
The highest home price in Boulder County Plains increased by 29.0% in the first quarter of 2022 compared to that of 2021.
DOWNTOWN BOULDER
January through March
29.0%
BOULDER COUNTY PLAINS
January through March
2021
BOULDER (CITY)
January through March
19
FOOTHILLS COMMUNITIES UNIVERSITY HILL & CHAUTAUQUA 20
22.7%
The average number of days on market in the Foothills Communities decreased by 22.7% in the first quarter of 2022 compared to that of 2021.
January through March # of Properties Sold Average Days on Market Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
2021
2022
% Change
150
139
-7.3%
88
68
-22.7%
$6,450,000
$5,590,000
-13.3%
$1,853,732
$1,891,335
2.0%
99.0%
102.1%
3.1%
$278,059,806
$262,895,572
-5.5%
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
January through March
2021
2022
% Change
# of Properties Sold
26
13
-50.0%
Average Days on Market
79
55
-30.4%
$3,200,000
$3,960,000
23.8%
$1,862,664
$2,232,308
19.8%
99.4%
99.8%
0.4%
$48,429,271
$29,020,000
-40.1%
Highest Price Average Sold Price % Sold Price to List Price Total Dollar Volume
COLORADO SPRINGS LUXURY MARKET LIV Sotheby’s International Realty reports that there was a 40.3% increase in the number of luxury homes sold within El Paso and Teller County during Q1 of 2022 compared to the same time frame in 2021. So far this year, there were 94 high-end homes sold. The average sale price of those homes decreased by 0.2% which brought the average sale price to $1,481,846 for the area. Looking at the quantity of luxury real estate sales within the various communities that make up Colorado Springs, the most dramatic increase was seen in Monument where luxury home sales rose from seven sales in Q1 of 2021 to 22 sales in Q1 of 2022 - a 214.3% increase. The Black Forest neighborhood had the most luxury home sales with a total of 23 homes sold for more than $1,000,000. In some areas, the average sale price for luxury homes rose as well. High-end homes in the Kissing Camels community sold for an impressive 47.9% higher price during the first three months of this year compared to the same time frame last year. Luxury listings here sold for an average price of $1,590,000. The most affordable luxury properties in the Pikes Peak region were located in Monument where the average sale price was $1,365,703 during Q1.
COLORADO SPRINGS January through March Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price Average Sales Price % Sold Price to List Price Total Dollar Volume
2021
2022
% Change
67
94
40.3%
$259
$285
10.0%
72
54
-25.0%
$3,800,000
$3,500,000
-7.9%
$1,614,479
$1,600,470
-0.9%
$1,484,389
$1,481,846
-0.2%
96.9%
99.2%
2.4%
$99,454,063
$139,293,524
40.1%
El Paso County & Teller County
While the average days on market for both El Paso and Teller County was 54 days on market in Q1 of this year, some individual neighborhoods experienced even faster market speeds. For example, luxury homes in Flying Horse remained on the market for an average of just 28 days through March, and homes in the Monument had an average time on the market of 34 days.
Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2022 through April 5, 2022. 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.
+ $1,000,000 Sales
21
BLACK FOREST BROADMOOR FLYING HORSE 22
53.2%
The total dollar volume in Black Forest increased by 53.2% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
16
23
43.8%
$275
$292
6.2%
37
63
70.3%
Highest Price
$2,435,000
$2,500,000
2.7%
Average List Price
$1,468,648
$1,537,175
4.7%
Average Sales Price
$1,356,427
$1,445,807
6.6%
98.7%
99.4%
0.7%
$21,702,832
$33,253,561
53.2%
2021
2022
% Change
17
18
5.9%
$261
$265
1.5%
91
92
1.1%
$3,800,000
$3,500,000
-7.9%
Average List Price
$2,018,702
$2,007,495
-0.6%
Average Sales Price
$1,745,345
$1,728,611
-1.0%
95.4%
97.8%
2.5%
$29,670,865
$31,114,998
4.9%
2021
2022
% Change
7
9
28.6%
$247
$266
7.7%
64
28
-56.3%
$1,969,300
$1,992,500
1.2%
Average List Price
$1,371,231
$1,332,562
-2.8%
Average Sales Price
$1,427,853
$1,394,405
-2.3%
99.6%
99.4%
-0.2%
$9,994,971
$12,549,645
25.6%
Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
191.4%
The total dollar volume in Broadmoor increased by 191.4% in the first quarter of 2022 compared to that of 2021.
January through March Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
56.3% The average number of days on market in Flying Horse decreased by 56.3% in the first quarter of 2022 compared to that of 2021.
January through March Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
2022
% Change
1
2
100.0%
$275
$372
35.3%
81
5
-93.8%
Highest Price
$1,075,000
$1,900,000
76.7%
Average List Price
$1,175,000
$1,634,833
39.1%
Average Sales Price
$1,075,000
$1,590,000
47.9%
100.0%
102.4%
2.4%
$1,075,000
$3,180,000
195.8%
2021
2022
% Change
7
22
214.3%
$212
$281
32.5%
23
34
47.8%
Highest Price
$1,425,000
$2,100,000
47.4%
Average List Price
$1,253,252
$1,325,329
5.8%
$1,237,714
$1,365,703
10.3%
96.6%
99.1%
2.6%
$8,663,998
$30,045,466
246.8%
Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through March Properties Sold Average Price Per Square Foot Average Days on Market
Average Sales Price % Sold Price to List Price Total Dollar Volume
246.8% The total dollar volume in Monument increased by 246.8% in the first quarter of 2022 compared to that of 2021.
MONUMENT
2021
KISSING CAMELS
January through March
23
GRAND COUNTY LUXURY MARKET Grand County offers incredible skiing, waterfront properties, and a small-town feel amidst the beautiful Rocky Mountains – a haven for those looking to find their Colorado dream home. During the first quarter of 2022, the luxury real estate market in this one-of-a-kind community saw an impressive 26.9% boost in the number of luxury homes sold in comparison to the same time frame in 2021. Luxury homes in this community saw average sales prices appreciate by 4.2% to reach an average of $1,837,022. The average days on market for homes increased slightly by 12.8% to 185 days. The upward trend in luxury real estate activity can also be seen in several individual communities within Grand County. Two of the most significant increases in home sales through March of this year were seen in Fraser and Granby, where the total number of luxury listings sold rose by 50% to reach six homes sold in both towns. Winter Park and Grand Lake each had four luxury home sales through March of this year.
GRAND COUNTY January through March # of Properties Sold Average Days on Market Highest Price Average List Price
2021
2022
% Change
26
33
26.9%
164
185
12.8%
$4,600,000
$8,370,000
82.0%
$1,836,262
$1,893,115
3.1%
Average Sold Price $1,762,534 $1,837,022 4.2% Continued demand for high-end mountain homes % Sold Price to List Price 96.6% 100.2% 3.7% paired with low levels of inventory pushed property prices upward during the first three months of the year. Total Dollar Volume $45,825,900 $60,621,738 32.3% For example, single family homes in Winter Park sold for an average price of $1,976,219 – 13.3% higher than Q1 of 2021. Granby saw a similar trend in luxury home prices, with the average price for luxury single family homes rising by 12.9% to reach $1,382,500.
Based on $1,000,000+ sales for Grand County. Based on Information from Grand County’s Board of Realtors. This representation is based in whole or in part on data supplied by the Grand County Board of Realtors on April 5, 2022. The Grand County Board of Realtors does not guarantee nor is in any way responsible for its accuracy. Data maintained by the Grand County Board of Realtors may not reflect all real estate activity in the market.
24
+ $1,000,000 Sales
January through March
2022
% Change
4
6
50.0%
106
371
250.0%
$4,100,000
$3,970,000
-3.2%
Average List Price
$2,597,475
$2,223,634
-14.4%
Average Sold Price
$2,460,600
$2,177,337
-11.5%
96.0%
100.0%
4.1%
$9,842,400
$13,064,022
32.7%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
32.7%
The total dollar volume in Fraser increased by 32.7% in 2022 compared to that of 2021.
FRASER
2021
Single Family Homes
January through March
2022
% Change
4
6
50.0%
62
90
45.2%
Highest Price
$1,460,000
$1,990,000
36.3%
Average List Price
$1,243,750
$1,375,667
10.6%
Average Sold Price
$1,224,125
$1,382,500
12.9%
98.5%
100.6%
2.1%
$4,896,500
$8,295,000
69.4%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
69.4% The total dollar volume sold in Granby increased by 69.4% in the first quarter of 2022 compared to that of 2021.
GRANBY
2021
All Properties
January through March
2022
% Change
6
4
-33.3%
167
232
38.9%
$4,600,000
$2,750,000
-40.2%
Average List Price
$1,940,667
$1,860,500
-4.1%
Average Sold Price
$1,923,833
$1,755,500
-8.7%
98.0%
92.2%
-5.9%
$11,543,000
$7,022,000
-39.2%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Single Family Homes
GRAND LAKE
2021
25
KREMMLING
620%
The average sale price in Kremmling increased by 620.0% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
2
1
-50.0%
650
191
-70.6%
Highest Price
$1,225,000
$8,370,000
583.3%
Average List Price
$1,315,000
$10,000,000
660.5%
Average Sold Price
$1,162,500
$8,370,000
620.0%
89.5%
83.7%
-6.5%
$2,325,000
$8,370,000
260.0%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
All Properties
TABERNASH
January through March
2021
2022
% Change
6
2
-66.7%
178
40
-77.5%
$3,050,000
$1,795,000
-41.1%
Average List Price
$1,858,150
$1,349,000
-27.4%
Average Sold Price
$1,817,583
$1,397,525
-23.1%
97.4%
104.0%
6.8%
$10,905,500
$2,795,050
-74.4%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
WINTER PARK
All Properties
51.0%
The total dollar volume in Winter Park increased by 51.0% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
3
4
33.3%
60
310
416.7%
Highest Price
$2,646,000
$3,200,000
20.9%
Average List Price
$1,970,000
$2,029,750
3.0%
Average Sold Price
$1,744,500
$1,976,219
13.3%
92.9%
96.4%
3.8%
$5,233,500
$7,904,878
51.0%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
26
SUMMIT COUNTY LUXURY MARKET With access to the very best destinations in the Rocky Mountains and just over an hour away from the urban excitement of Denver, Summit County offers an exciting take on mountain living. Here, you can find adventure all year and discover more to love within each unique town. During the first quarter of the year, Summit County saw a 55.6% boost in the number of luxury properties sold, reaching a total of 56 high-end homes sold through March of 2022. The average price of those properties sold appreciated by 5.8% over 2021, bringing the average sale price to $3,219,958 in Q1. Together, these improvements contributed to the impressive 64.6% increase in total dollar volume sold, which totaled $180,317,623 for the first quarter of the year.
SUMMIT COUNTY
January through March
Within Summit County, several resort communities saw increases in real estate activity that benefited both buyers and sellers. In the Copper Mountain community, the number of luxury single family properties sold doubled, rising from one home sold through March of 2021 to two homes sold during the same time frame this year. The average sale price of those listings was $3,600,000 – a 6.5% decrease from the previous year. Luxury homes on the market remained available to buyers for an average of 18 days through March of this year.
2021
2022
% Change
36
56
55.6%
$648
$808
24.7%
88
47
-46.6%
$5,295,000
$12,200,000
130.4%
Average List Price
$3,138,472
$3,319,713
5.8%
Average Sold Price
$3,042,958
$3,219,958
5.8%
97.3%
98.5%
1.2%
$109,546,500
$180,317,623
64.6%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
The popular resort community of Breckenridge had the most luxury single home sales in Q1 of 2022 out of all luxury Summit County communities. There were 18 high-end homes sold through March of this year. Those homes sold for an average price of $3,970,687 – 25.3% higher than the average sale price for this area a year ago. Single family homes in Breckenridge stayed on the market for an average of 50 days in Q1 of this year – 54.1% less time than Q1 of 2021. In Keystone, there were two luxury homes sold during the first quarter of the year. Single family homes in this neighborhood closed for an average price of $3,405,000, which is 5.1% higher than last year. Listings in this community remained on the market for an average of eight days through March of 2022.
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® on April 5, 2022. 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.
+ $2,000,000 Sales
27
BRECKENRIDGE
January through March
2021
2022
% Change
22
18
-18.2%
$642
$869
35.4%
109
50
-54.1%
Highest Price
$5,295,000
$12,200,000
130.4%
Average List Price
$3,261,682
$4,164,333
27.7%
Average Sold Price
$3,170,068
$3,970,687
25.3%
97.5%
98.2%
0.7%
$69,741,500
$71,472,370
2.5%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
COPPER MOUNTAIN
Single Family Homes
26.8% The average price per square foot in Copper Mountain increased by 26.8% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
1
2
100.0%
$605
$768
26.8%
4
18
350.0%
Highest Price
$3,850,000
$4,200,000
9.1%
Average List Price
$3,995,000
$3,625,000
-9.3%
Average Sold Price
$3,850,000
$3,600,000
-6.5%
96.4%
99.4%
3.2%
$3,850,000
$7,200,000
87.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
January through March
2021
2022
% Change
3
2
-33.3%
$607
$748
23.2%
110
8
-92.7%
Highest Price
$4,025,000
$4,295,000
6.7%
Average List Price
$3,390,000
$3,372,500
-0.5%
Average Sold Price
$3,240,000
$3,405,000
5.1%
94.6%
101.3%
7.1%
$9,720,000
$6,810,000
-29.9%
KEYSTONE
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
28
CRESTED BUTTE LUXURY MARKET Crested Butte is a community with rich history, breathtaking scenery, and a tight-knit culture that only a mountain town can provide. For these reasons, Crested Butte, which is situated within Gunnison County, has been a coveted community to buy and sell real estate. In comparison to the real estate boom that was observed at the start of 2021, real estate activity in Gunnison County has slowed. This return to more typical seasonal homebuying and selling trends can be seen in the 23.1% decrease in the number of luxury homes sold. The average price of those listings sold was $11,550,000. Luxury properties in this community remained on the market for an average of 106 days in Q1. Mt. Crested Butte saw the most luxury single family homes sold during the first three months of the year, totaling three properties sold – a 50% increase from the same time frame last year. Single family homes in this area sold for an average price of $2,946,866 and sold within an January through March 2021 2022 % Change average of 120 days on the market.
CRESTED BUTTE
13
10
-23.1%
$736
$824
12.0%
221
106
-52.0%
$27,000,000
$11,550,000
-57.2%
Average List Price
$5,463,384
$4,126,500
-24.5%
Average Sale Price
$5,137,307
$4,019,060
-21.8%
# of Properties Sold
In the Town of Crested Butte, there was one luxury single family home sold for $5,100,000. This home, which was listed by a LIV Sotheby’s International Realty broker, spent 44 days on the market. The price per square foot for this listing was $1,600.
Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price 94.0% 97.0% 3.2% The Rural Crested Butte community also had one luxury listing sell between January and March of 2022. Total Dollar Volume $66,785,000 $40,190,600 -39.8% This home sold for $2,550,000 and was available on the market for 200 days. The price per square foot of this listing was $614 – 18.3% less than the average price per square foot for local listings in Q1 of 2021.
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) on April 5, 2022. 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
29
The average price per square foot in the Town of Crested Butte increased by 71.4% in the first quarter of 2022 compared to that of 2021.
RURAL CRESTED BUTTE 30
2021
2022
% Change
2
1
-50.0%
$933
$1,600
71.4%
234
44
-81.2%
Highest Price
$3,400,000
$5,100,000
50.0%
Average List Price
$2,999,500
$5,100,000
70.0%
Average Sale Price
$2,837,500
$5,100,000
79.7%
94.6%
100.0%
5.7%
$5,675,000
$5,100,000
-10.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
MT. CRESTED BUTTE
TOWN OF CRESTED BUTTE
71.4%
January through March
January through March
2021
2022
% Change
2
3
50.0%
$500
$742
48.4%
166
120
-27.7%
Highest Price
$3,350,000
$3,250,000
-3.0%
Average List Price
$2,875,000
$3,090,000
7.5%
Average Sale Price
$2,725,000
$2,946,866
8.1%
94.8%
95.0%
0.2%
$5,450,000
$8,840,600
62.2%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
20.9%
The average number of days on market in Rural Crested Butte decreased by 20.9% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
5
1
-80.0%
$752
$614
-18.3%
253
200
-20.9%
Highest Price
$3,385,000
$2,550,000
-24.7%
Average List Price
$2,916,000
$2,650,000
-9.1%
Average Sale Price
$2,777,000
$2,550,000
-8.2%
95.2%
96.0%
0.8%
$13,885,000
$2,550,000
-81.6%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
VAIL VALLEY LUXURY MARKET Beloved for its luxury lifestyle, access to some of the country’s best skiing and summertime activities, and collection of amazing mountain homes, the Vail Valley is consistently one of the most popular destinations in Colorado for buying and selling high-end homes. As a whole, the Vail Valley saw an increase in luxury homebuying activity during the first quarter of 2022. Compared to the same time frame in 2021, the area experienced an 8% boost in the number of high-end homes purchased, reaching a total of 54 luxury real estate sales through March. The average sale price for properties in this highly sought-after resort community was $6,047,777, which was 16.3% lower than the average sale price in Q1 of 2021 ($5,201,634).
VAIL VALLEY
Several communities within the Vail Valley experienced notable increases in the number of homes sold through March of this year compared to January through March of 2021. One of the most significant increases was recorded in Vail Village where luxury home sales rose by 60%, from five homes sold to eight homes sold so far this year. The Vail Golf Course community also saw sales volume rise by more than double, increasing by 100% with a total of two luxury homes sold. The Town of vail had the most luxury property sales during Q1, totaling 16 listings sold, which is 23.1% more than the same time last year.
January through March
2021
2022
% Change
50
54
8.0%
$1,129
$1,336
18.3%
215
81
-62.3%
$13,500,000
$30,875,000
128.7%
Average List Price
$5,463,740
$6,252,167
14.4%
Average Sale Price
$5,201,634
$6,047,777
16.3%
95.4%
97.9%
2.6%
$260,081,700
$326,579,971
25.6%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Eagle County Most areas of the Vail Valley experienced an appreciation in the average sale price of luxury homes last year. Luxury listings in the Bachelor Gulch neighborhood sold for 11.1% more during Q1 of this year than the same period last year. In this neighborhood, the average sale price for a luxury residence was $7,117,909. One of the highest average sale prices throughout the various neighborhoods in the Vail Valley was seen in the Town of Vail where the average sale price was $7,512,687. This average was influenced by the significant $30,875,000 sale that closed earlier this year. On the other hand, Vail Golf Course offered the most affordability on the luxury home market, most properties in the area selling for an average price of $4,487,500.
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® on April 5, 2022. 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.
+ $3,000,000 Sales
31
ARROWHEAD
30.7% The total dollar volume in Arrowhead increased by 30.7% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
4
5
25.0%
$752
$1,061
41.1%
80
212
165.0%
$10,605,750
$7,575,000
-28.6%
Average List Price
$5,921,250
$5,917,600
-0.1%
Average Sale Price
$5,636,737
$5,892,000
4.5%
94.8%
101.3%
6.8%
$22,546,950
$29,460,000
30.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
BEAVER CREEK
BACHELOR GULCH
Single Family Homes
January through March
2021
2022
% Change
9
11
22.2%
$1,141
$1,346
18.0%
50
25
-50.0%
$13,500,000
$11,750,000
-13.0%
Average List Price
$6,625,556
$7,238,182
9.2%
Average Sale Price
$6,407,083
$7,117,909
11.1%
97.1%
98.2%
1.1%
$57,663,750
$78,297,000
35.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Single Family Homes
69.5% The average number of days on market in Beaver Creek decreased by 69.5% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
12
7
-41.7%
$1,089
$1,110
1.9%
338
103
-69.5%
$10,950,000
$10,200,000
-6.8%
Average List Price
$5,728,250
$4,948,000
-13.6%
Average Sale Price
$5,546,583
$4,767,214
-14.1%
97.3%
97.1%
-0.3%
$66,559,000
$33,370,500
-49.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Single Family Homes
32
January through March
2022
% Change
13
16
23.1%
$1,772
$2,079
17.3%
269
69
-74.3%
Highest Price
$7,250,000
$30,875,000
325.9%
Average List Price
$5,008,846
$7,924,375
58.2%
Average Sale Price
$4,723,461
$7,512,687
59.1%
94.6%
96.8%
2.4%
$61,405,000
$120,203,000
95.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
95.8%
The total sales volume in the Town of Vail increased by 95.8% in the first quarter of 2022 compared to that of 2021.
TOWN OF VAIL
2021
All Properties
January through March
2022
% Change
5
8
60.0%
$2,240
$2,666
19.0%
144
81
-43.8%
Highest Price
$6,400,000
$19,000,000
196.9%
Average List Price
$5,705,000
$7,305,375
28.1%
Average Sale Price
$5,156,000
$6,912,875
34.1%
90.2%
97.6%
8.2%
$25,780,000
$55,303,000
114.5%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
VAIL VILLAGE
2021
All Properties
January through March
2022
% Change
4
1
-75.0%
$1,872
$2,602
39.0%
294
68
-76.9%
Highest Price
$4,650,000
$30,875,000
564.0%
Average List Price
$4,160,000
$32,950,000
692.1%
Average Sale Price
$4,056,250
$30,875,000
661.2%
97.4%
93.7%
-3.8%
$16,225,000
$30,875,000
90.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
39.0%
The average price per square foot in Lionshead increased by 39.0% in the first quarter of 2022 compared to that of 2021.
LIONSHEAD
2021
All Properties
33
The total sales volume in Vail Golf Course increased by 108.7% in the first quarter of 2022 compared to that of 2021.
MOUNTAIN STAR 34
2021
2022
% Change
1
2
100.0%
$1,110
$1,692
52.4%
537
13
-97.6%
Highest Price
$4,300,000
$5,850,000
36.0%
Average List Price
$4,500,000
$4,475,000
-0.6%
Average Sale Price
$4,300,000
$4,487,500
4.4%
95.6%
100.4%
5.1%
$4,300,000
$8,975,000
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
108.7% All Properties
January through March
SPRADDLE CREEK
VAIL GOLF COURSE
108.7%
January through March
2021
2022
% Change
No Sales
No Sales
-
Average Price Per Square Foot
-
-
-
Average Days on Market
-
-
-
Highest Price
-
-
-
Average List Price
-
-
-
Average Sale Price
-
-
-
% Sold Price to List Price
-
-
-
Total Dollar Volume
-
-
# of Properties Sold
All Properties
72.4%
The average sale price in Mountain Star increased by 72.4% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
2
1
-50.0%
$591
$848
43.5%
736
551
-25.1%
Highest Price
$6,250,000
$9,050,000
44.8%
Average List Price
$5,622,500
$9,350,000
66.3%
Average Sale Price
$5,250,000
$9,050,000
72.4%
93.6%
96.8%
3.4%
$10,500,000
$9,050,000
-13.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
TELLURIDE LUXURY MARKET Telluride is a place where there is always something to do; from its many music and art festivals to outdoor adventures all with the smalltown feel that gives the community its unique charms. This community within San Miguel County has long been a favorite destination for celebrities and mountain town lovers to escape to for seasonal getaways or year-round stays. Here, in San Miguel County, the luxury real estate market saw some encouraging improvements in certain areas compared to 2021. The number of luxury properties sold in this remarkable community rose by 17.4% during Q1 compared to the same time frame in 2021, growing from 23 properties sold in 2021 to 27 properties sold in 2022. The average price of luxury listings in the area experienced an increase as well, appreciating by 23.8% to reach an average sale price of $6,717,618. This impressive rise in the average sale price was influenced by the record-breaking sale of a home that closed this year for $15,000,000. Overall, the total dollar volume sold in San Miguel County increased by 45.3% to reach a total of $181,375,675 last year.
TELLURIDE January through March # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price
2021
2022
% Change
23
27
17.4%
$975
$1,796
84.2%
365
206
-43.6%
$9,550,000
$15,000,000
57.1%
$5,683,174
$7,228,704
27.2%
On a smaller scale, individual communities within San Miguel Average Sold Price $5,426,311 $6,717,618 23.8% County also experienced a boost in real estate activity % Sold Price to List Price 95.5% 92.9% -2.7% through March. The most significant increase in the number of homes sold was observed in the Town of Telluride, where Total Dollar Volume $124,805,150 $181,375,675 45.3% there were 12 luxury homes sold – a 50% improvement San Miguel County over Q1 of 2021. In this community, the average sale price appreciated by 8.6% to reach an average price of $6,649,931. The average price per square foot also rose, increasing from $1,184 per square foot to $2,122 per square foot. In Mountain Village, there were 12 luxury listings sold through Q1. Those luxury homes sold for an average sale price of $6,127,208, which is 19.8% higher than the average price during Q1 2021. There were six luxury properties sold in the Surrounding Mesas, which include Deep Creek Mesa, Hastings Mesa, Iron Springs/Horesefly Mesa, Sunshine Mesa, Turkey Creek Mesa, and Wilson Mesa. In these communities, the average sale price was $10,240,833 – an impressive 122.4% higher than last year. This significant increase can partially be attributed to a $15,000,000 sale that took place this year, which helps illustrate the continued demand for luxury real estate in the Telluride community.
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® on April 5, 2022. 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.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.
+ $3,000,000 Sales
35
The average price per square foot in the Town of Telluride increased by 79.2% in the first quarter of 2022 compared to that of 2021.
SURROUNDING MESAS 36
2021
2022
% Change
8
12
50.0%
$1,184
$2,122
79.2%
391
146
-62.7%
Highest Price
$9,550,000
$14,000,000
46.6%
Average List Price
$6,386,875
$6,857,083
7.4%
Average Sold Price
$6,124,688
$6,649,931
8.6%
95.9%
97.0%
1.1%
$48,997,500
$79,799,175
62.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
All Properties
MOUNTAIN VILLAGE
TOWN OF TELLURIDE
79.2%
January through March
January through March
2021
2022
% Change
13
12
-7.7%
$881
$1,169
32.7%
390
262
-32.8%
Highest Price
$7,795,000
$10,750,000
37.9%
Average List Price
$5,376,154
$6,257,917
16.4%
Average Sold Price
$5,114,050
$6,127,208
19.8%
95.1%
97.9%
2.9%
$66,482,650
$73,526,500
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
10.6% All Properties
167.8% The average price per square foot in the Surrounding Mesas increased by 167.8% in the first quarter of 2022 compared to that of 2021.
January through March
2021
2022
% Change
6
6
0.0%
$720
$1,928
167.8%
434
335
-22.8%
Highest Price
$6,222,500
$15,000,000
141.1%
Average List Price
$4,806,333
$8,414,862
75.1%
Average Sold Price
$4,603,750
$10,240,833
122.4%
95.8%
82.0%
-14.2%
$27,622,500
$50,489,175
82.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Deep Creek Mesa, Hastings Mea, Iron Springs/Horsefly Mesa, Specie Mesa, Sunshine Mesa, Turkey Creek Mesa, Wilson Mesa
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37
WHY COLORADO?
04
NATIONAL PARKS
38
07
MOUNTAIN RANGES
28
SKI AREAS & RESORTS
300
AVG DAYS OF SUNSHINE ANNUALY
350+ CRAFT BREWERIES
39
40