QUARTER 2 2022
Luxury Report
20 Fisher Canyon Court, Ridgway
4000 Bellyache Ridge Road, Vail Valley
1
RESIDENTIAL LUXURY REPORT INTRODUCTION
After two years of unprecedented real estate activity, the market is starting to shift back to its typical pre-pandemic homebuying trends. Despite a cooling market for all price points, the luxury sector of the market has more momentum through the first half of 2022. While the pace at which luxury homes are being purchased is not growing at the same speed that it was in previous years, the strong demand for homes that provide the lifestyle that Colorado homes offer is still very present. The demand for these homes paired with the low levels of luxury inventory signal that the high-end home market in Colorado will remain productive in the coming months and yield plenty of opportunities for both buyers and sellers. LIV Sotheby’s International Realty produces a quarterly Residential Luxury Report, comparing January through June of this year to the previous year, measuring the performance of luxury real estate markets in some of Colorado’s most popular communities and analyzing the luxury market for Colorado’s diverse neighborhoods. The statistics in this report show performance for single family homes and condos for Denver Metro ($1 million+), Colorado Springs ($1 million+), Grand County ($1 million+), the Foothills ($1 million+), Boulder ($1 million+), the Vail Valley ($3 million+), Summit County ($2 million+), Crested Butte ($2 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 Denver Metro continues to attract homebuyers and provide opportunities to sellers even as the market begins to shift. At the halfway mark for the year, the six counties across Denver Metro experienced a 29.0% increase in the number of luxury homes sold through June compared to the same period in 2021. While average sale price decreased slightly by 0.5%, the rise in luxury home sales resulted in a 28.3% increase in the dollar volume sold, bringing the total to $4,881,130,326. The strength of the market was seen throughout the individual neighborhoods within Denver Metro as well. The Washington Park East/ Central neighborhood had the most luxury homes sold through Q2, totaling 78 homes. The most significant increase in luxury home sales was recorded in the Bow Mar/Bow Mar South community where the total number of high-end homes sold rose by 83.3% - rising from 6 to 11 homes sold.
DENVER METRO January through June
2021
2022
% Change
# of Properties Sold
2,374
3,062
29.0%
Average Price Per Square Foot
$508
$577
13.5%
35
17
-51.4%
$9,000,000
$13,000,000
44.4%
Average List Price
$1,582,912
$1,526,163
-3.6%
Average Sale Price
$1,602,284
$1,594,099
-0.5%
101.1%
105.5%
4.3%
$3,803,821,871
$4,881,130,326
28.3%
Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Counties: Adams, Arapahoe, Broomfield, Denver, Douglas, Jefferson The demand for homes in Denver Metro has created an upward trend in luxury property prices. The Hilltop neighborhood saw a 25.8% increase in sold prices for luxury homes. From January to June of this year, the average sold price for a luxury home in this neighborhood was $2,462,378. Cherry Creek North, another neighborhood known for its high-end lifestyle and listings, experienced a 25.9% increase in average sale price through Q2 of this year, making the average sale price $2,429,726 for local luxury homes.
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 July 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 June
2021
2022
% Change
# of Properties Sold
1,003
1,235
23.1%
Average Price Per Square Foot
$594
$688
15.9%
36
16
-55.6%
$9,000,000
$9,000,000
0.0%
Average List Price
$1,584,247
$1,574,855
-0.6%
Average Sale Price
$1,607,660
$1,647,666
2.5%
101.2%
106.2%
4.9%
$1,612,482,782
$2,034,868,098
26.2%
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
30.3%
The average price per square foot in Bonnie Brae/Belcaro increased by 30.3% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
30
29
-3.3%
$658
$858
30.3%
24
11
-54.2%
$4,895,000
$7,000,000
43.0%
Average List Price
$2,115,000
$2,243,679
6.1%
Average Sale Price
$2,154,335
$2,325,770
8.0%
102.1%
107.1%
4.9%
$64,630,050
$67,447,325
4.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: Mississippi to Cherry Creek Drive South; University to Colorado
67.5%
The total dollar volume in Bow Mar/ Bow Mar South increased by 67.5% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
6
11
83.3%
$653
$760
16.4%
24
21
-12.5%
Highest Price
$5,400,000
$5,350,000
-0.9%
Average List Price
$2,505,833
$2,173,682
-13.3%
Average Sale Price
$2,522,833
$2,304,864
-8.6%
101.2%
104.6%
3.3%
$15,137,000
$25,353,500
67.5%
# 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
60
64
6.7%
$738
$899
21.8%
47
20
-57.4%
$4,000,000
$9,000,000
125.0%
Average List Price
$1,963,352
$2,501,460
27.4%
Average Sale Price
$1,930,647
$2,429,726
25.9%
96.6%
100.3%
3.8%
$115,838,800
$155,502,475
34.2%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
25.9% The average sale price in Cherry Creek North increased by 25.9% in the first half of 2022 compared to that of 2021.
Boundaries: York to Colorado; 1st Avenue to 6th Avenue
2021
2022
% Change
35
20
-42.9%
$684
$834
22.0%
63
31
-50.8%
$7,850,000
$13,000,000
65.6%
Average List Price
$4,010,114
$4,544,000
13.3%
Average Sale Price
$4,016,793
$4,555,000
13.4%
101.1%
100.4%
-0.8%
$140,587,739
$91,100,000
-35.2%
# 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
28
27
-3.6%
$603
$785
30.0%
33
4
-87.9%
Highest Price
$5,000,000
$7,100,000
42.0%
Average List Price
$2,648,000
$3,018,185
14.0%
Average Sale Price
$2,710,839
$3,346,885
23.5%
100.5%
111.9%
11.4%
$75,903,500
$90,365,905
19.1%
# 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 50.8% in the first half of 2022 compared to that of 2021.
CHERRY HILLS VILLAGE
January through June
50.8%
CHERRY HILLS VILLAGE
January through June
CHERRY CREEK NORTH
January through June
5
COLUMBINE VALLEY
40.0% The average number of days on market in Columbine Valley decreased by 40.0% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
16
8
-50.0%
$531
$574
8.1%
20
12
-40.0%
$3,500,000
$2,925,000
-16.4%
Average List Price
$1,891,727
$2,039,125
7.8%
Average Sale Price
$1,914,546
$2,054,750
7.3%
101.5%
97.9%
-3.5%
$30,632,737
$16,438,000
-46.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% 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 June
2021
2022
% Change
20
11
-45.0%
$760
$827
8.9%
76
13
-82.9%
Highest Price
$6,075,000
$3,900,000
-35.8%
Average List Price
$3,382,200
$2,590,455
-23.4%
Average Sale Price
$3,371,782
$2,542,180
-24.6%
97.9%
95.6%
-2.3%
$67,435,633
$27,963,975
-58.5%
# 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
CRESTMOOR
st
54.5%
The total dollar volume in Crestmoor increased by 54.5% in the first half of 2022 compared to that of 2021.
January through June
th
2021
2022
% Change
10
12
20.0%
$544
$721
32.4%
7
5
-28.6%
Highest Price
$2,820,000
$4,250,000
50.7%
Average List Price
$1,564,300
$2,048,455
31.0%
Average Sale Price
$1,620,700
$2,086,708
28.8%
102.6%
109.6%
6.8%
$16,207,000
$25,040,500
54.5%
# 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
25
20
-20.0%
$460
$620
34.8%
23
5
-78.3%
$2,230,000
$2,522,340
13.1%
Average List Price
$1,535,780
$1,753,700
14.2%
Average Sale Price
$1,545,340
$1,901,092
23.0%
99.8%
109.2%
9.4%
$38,633,500
$38,021,840
-1.6%
# 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 June
Boundaries: I-25 to Havana; Belleview to Orchard
2021
2022
% Change
11
7
-36.4%
$550
$766
39.4%
34
65
91.2%
Highest Price
$5,425,000
$5,950,000
9.7%
Average List Price
$3,289,818
$3,656,429
11.1%
Average Sale Price
$3,184,455
$3,644,643
14.5%
97.5%
95.6%
-1.9%
$35,029,000
$25,512,500
-27.2%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
39.4% The average price per square foot in Greenwood Village West (over 1 acre) increased by 39.4% in the first half of 2022 compared to that of 2021.
(Over 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
2021
2022
% Change
35
32
-8.6%
$578
$638
10.5%
21
10
-52.4%
$3,600,000
$6,725,000
86.8%
Average List Price
$2,226,714
$2,370,871
6.5%
Average Sale Price
$2,271,237
$2,440,503
7.5%
101.9%
104.7%
2.8%
$79,493,290
$78,096,088
-1.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
(Under 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
52.4%
The average number of days on market in Greenwood Village West (under 1 acre) decreased by 52.4% in the first half of 2022 compared to that of 2021.
GREENWOOD VILLAGE WEST
January through June
GREENWOOD VILLAGE WEST
January through June
7
January through June
2021
2022
% Change
46
42
-8.7%
$589
$747
26.8%
28
6
-78.6%
$4,500,000
$8,000,000
77.8%
Average List Price
$1,950,717
$2,405,244
23.3%
Average Sale Price
$1,957,293
$2,462,378
25.8%
99.0%
104.5%
5.5%
$90,035,474
$103,419,884
14.9%
# of Properties Sold
HILLTOP
Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
KEN CARYL NORTH RANCH
HUNTINGTON TRAILS/LEXINGTON
Boundaries: Alameda to 6th; Colorado to Holly
8
43.4% The average sale price in Huntington Trails/Lexington increased by 43.4% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
9
6
-33.3%
$319
$511
60.4%
84
3
-96.4%
Highest Price
$1,807,500
$3,000,000
66.0%
Average List Price
$1,333,222
$1,734,667
30.1%
Average Sale Price
$1,341,056
$1,922,833
43.4%
101.7%
110.3%
8.4%
$11,537,000
-4.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price
$12,069,500
Total Dollar Volume
Boundaries: Lexington Place to 144 Avenue; McKay Lake to Huron Street th
11.4%
The average price per square foot in Ken Caryl North Ranch increased by 11.4% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
12
6
-50.0%
$401
$447
11.4%
7
3
-57.1%
$1,820,000
$2,127,500
16.9%
Average List Price
$1,487,417
$1,670,833
12.3%
Average Sale Price
$1,527,500
$1,772,250
16.0%
102.4%
107.0%
4.5%
$18,330,000
$10,633,500
-42.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% 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
45
32
-28.9%
$512
$600
17.2%
17
7
-58.8%
Highest Price
$1,895,000
$2,430,000
28.2%
Average List Price
$1,282,653
$1,420,868
10.8%
Average Sale Price
$1,306,108
$1,508,849
15.5%
101.4%
106.3%
4.8%
$58,774,860
$48,283,160
-17.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
58.8%
The average number of days on market in Mayfair/Montclair decreased by 58.8% in the first half of 2022 compared to that of 2021.
Boundaries: Colorado to Quebec; 6th to Colfax
2021
2022
% Change
40
27
-32.5%
$567
$680
19.8%
46
18
-60.9%
Highest Price
$3,757,900
$4,200,000
11.8%
Average List Price
$2,092,593
$2,419,776
15.6%
Average Sale Price
$2,078,715
$2,462,299
18.5%
97.5%
101.7%
4.4%
$83,148,615
$66,482,084
-20.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
OBSERVATORY PARK
January through June
Boundaries: University to Colorado; Evans to Yale
January through June
2022
% Change
5
1
-80.0%
$499
$627
25.8%
60
3
-95.0%
$3,900,000
$2,315,000
-40.6%
Average List Price
$3,117,000
$2,300,000
-26.2%
Average Sale Price
$2,875,000
$2,315,000
-19.5%
94.9%
100.7%
6.0%
$14,375,000
$2,315,000
-83.9%
# 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
95.0%
The average number of days on market in Polo Reserve decreased by 95.0% in the first half of 2022 compared to that of 2021.
POLO RESERVE
2021
MAYFAIR/MONTCLAIR
January through June
9
SPRUCE MEADOWS WASHINGTON PARK EAST/CENTRAL
10
46.2% The average number of days on market in Spruce Meadows decreased by 46.2% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
5
2
-60.0%
$551
$645
16.9%
13
7
-46.2%
$2,350,000
$3,925,000
67.0%
Average List Price
$1,917,000
$3,200,000
66.9%
Average Sale Price
$1,929,000
$3,337,500
73.0%
101.1%
103.5%
2.5%
$9,645,000
$6,675,000
-30.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: Federal Blvd to Zuni Street; High Prairie Way to 156th Avenue
January through June
2021
2022
% Change
72
78
8.3%
$739
$907
22.7%
24
20
-16.7%
$4,375,000
$4,250,000
-2.9%
Average List Price
$1,887,084
$2,032,306
7.7%
Average Sale Price
$1,930,817
$2,129,642
10.3%
102.1%
105.4%
3.3%
$139,018,856
$166,112,071
19.5%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: Louisiana to Ellsworth, Ogden to University
SOUTH METRO LUXURY MARKET Just outside of Denver, the South Metro community offers additional space, affordability, and lifestyle changes that have made it an increasingly popular destination for luxury homebuying over the years. Collectively, South Metro saw a 26.2% increase in the number of luxury properties sold and a 2.0% increase in average SOUTH METRO sale prices. These metrics are positive indicators of the market’s strength and the continued January through June 2021 2022 % Change demand for the lifestyle that this community # of Properties Sold 520 656 26.2% affords its residents. $427
$467
9.4%
38
18
-52.6%
$4,350,000
$8,040,000
84.8%
Average List Price
$1,491,735
$1,485,038
-0.4%
Average Sale Price
$1,498,977
$1,528,489
2.0%
100.5%
103.5%
3.0%
$779,468,010
$1,002,689,057
28.6%
Average Price Per Square Foot
The Village at Castle Pines experienced a 1.9% rise in luxury home sales, growing from 52 properties sold through June of 2021 to 53 properties sold through June of this year. Backcountry had the second highest number of luxury home sales, reaching a total of 32 homes sold.
Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Douglas County
Several communities saw home prices rise due to the sustained demand for local real estate. The most significant increase in sale prices was seen in Heritage Estates where the average sale price was $2,598,275. This 45.2% increase in average sale price was influenced by an impressive $3,094,824 sale which was 47.4% higher than the most expensive sale from January through June of 2021. In Heritage Hills, luxury homes sold for an average price of $1,507,196 – 7.6% higher than the same period last year.
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 July 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
19.6%
The average price per square foot in Backcountry increased by 19.6% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
58
32
-44.8%
$431
$515
19.6%
8
6
-25.0%
$2,725,000
$4,400,000
61.5%
Average List Price
$1,471,231
$1,784,475
21.3%
Average Sale Price
$1,482,224
$1,834,966
23.8%
100.2%
102.5%
2.3%
$85,969,000
$58,718,900
-31.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
HERITAGE ESTATES
FALCON HILLS
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
12
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 June
2021
2022
% Change
2
3
50.0%
$342
$479
40.0%
53
5
-90.6%
Highest Price
$1,650,000
$2,605,000
57.9%
Average List Price
$1,349,750
$1,948,333
44.3%
Average Sale Price
$1,437,500
$2,076,667
44.5%
104.3%
105.4%
1.0%
$2,875,000
$6,230,000
116.7%
2021
2022
% Change
7
3
-57.1%
$442
$562
27.2%
87
13
-85.1%
$2,100,000
$3,094,824
47.4%
Average List Price
$1,756,857
$2,658,333
51.3%
Average Sale Price
$1,789,286
$2,598,275
45.2%
99.3%
100.1%
0.8%
$12,525,000
$7,794,824
-37.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
85.1%
The average number of days on market in Heritage Estates decreased by 85.1% in the first half of 2022 compared to that of 2021.
January through June # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
2021
2022
% Change
25
17
-32.0%
$389
$445
14.6%
51
11
-78.4%
$2,045,000
$2,055,000
0.5%
Average List Price
$1,395,796
$1,492,066
6.9%
Average Sale Price
$1,400,480
$1,507,196
7.6%
99.4%
99.7%
0.3%
$35,012,000
$25,622,328
-26.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
January through June
2022
% Change
11
10
-9.1%
$464
$501
7.9%
13
15
15.4%
$2,250,000
$2,892,000
28.5%
Average List Price
$1,495,663
$1,811,665
21.1%
Average Sale Price
$1,496,364
$1,841,162
23.0%
99.1%
99.6%
0.4%
$16,460,000
$18,411,624
11.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
23.0%
The average sales price in Keene Ranch increased by 23.0% in the first half of 2022 compared to that of 2021.
KEENE RANCH
2021
HERITAGE HILLS
January through June
Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road
January through June
2022
% Change
11
11
0.0%
$719
$903
25.6%
135
75
-44.4%
Highest Price
$4,100,000
$3,250,000
-20.7%
Average List Price
$2,608,818
$2,451,636
-6.0%
Average Sale Price
$2,523,818
$2,440,906
-3.3%
95.7%
102.0%
6.5%
$27,762,000
$26,849,970
-3.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
44.4% The average days on market in Ravenna decreased by 44.4% in the first half of 2022 compared to that of 2021.
RAVENNA
2021
Boundaries: Colorado to Quebec; 6th to Colfax
13
SPIRIT RIDGE
97.7%
The average number of days on market in Spirit Ridge decreased by 97.7% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
5
1
-80.0%
$338
$369
9.0%
214
5
-97.7%
$1,900,000
$1,460,000
-23.2%
Average List Price
$1,518,498
$1,460,000
-3.9%
Average Sale Price
$1,475,000
$1,460,000
-1.0%
91.7%
100.0%
9.1%
$7,375,000
$1,460,000
-80.2%
# 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
January through June
2021
2022
% Change
52
53
1.9%
$497
$579
16.6%
42
25
-40.5%
Highest Price
$4,075,000
$3,800,000
-6.7%
Average List Price
$1,833,056
$1,912,449
4.3%
Average Sale Price
$1,831,350
$1,940,020
5.9%
100.3%
102.3%
2.0%
$95,230,206
$102,821,080
8.0%
# 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 The Foothills, a community beloved for its nearness to nature and captivating views of the Front Range, saw significant increases in its market performance through Q2 of this year. The number of luxury listings sold through June compared to the same period in 2021 grew by 61.5%, totaling 646 luxury homes sold. The average sold price for homes in this area had a slight increase of 1.8% to reach an average price of FOOTHILLS $1,474,046. Thanks to these increases, the total dollar volume sold rose by 56.6%, bringing the January through June 2021 2022 % Change total to $952,233,962 so far this year. # of Properties Sold
Out of the six luxury neighborhoods within the Foothills region, Genesee had the most luxury real estate sales, totaling 16 homes sold. Following close behind it, Ridge at Hiwan had 14 high-end home sales.
Average Price Per Square Foot Average Days on Market
400
646
61.5%
$448
$539
20.3%
28
23
-17.9%
$5,440,000
$6,400,000
17.6%
Average List Price
$1,429,824
$1,361,102
-4.8%
Average Sale Price
$1,448,560
$1,474,046
1.8%
101.7%
104.1%
2.4%
Highest Price
% Sold Price to List Price
Average prices in some communities also saw Total Dollar Volume $608,201,902 $952,233,962 56.6% increases thus far in 2022. For example, luxury Jefferson County homes within Soda Creek increased in average sale price by 22.8%, bringing the price to $2,822,125. The Ridge at Hiwan increased in average sale price by 19.0%, bringing the price to $1,684,589.
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 July 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 June
2021
2022
% Change
12
16
33.3%
$444
$570
28.4%
24
25
4.2%
Highest Price
$1,870,000
$2,655,000
42.0%
Average List Price
$1,382,667
$1,792,744
29.7%
Average Sale Price
$1,392,608
$1,761,505
26.5%
100.1%
98.5%
-1.5%
$16,711,300
$28,184,080
68.7%
# of Properties Sold
GENESEE
Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
RIDGE AT HIWAN
HANGEN RANCH
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
16
93.2%
The highest priced sale in Hangen Ranch increased by 93.2% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
1
2
100.0%
$787
$745
-5.4%
6
5
-16.7%
$1,100,000
$2,125,000
93.2%
$975,000
$1,500,000
53.8%
$1,100,000
$2,050,000
86.4%
112.8%
141.7%
25.6%
$1,100,000
$4,100,000
272.7%
2021
2022
% Change
14
14
0.0%
$430
$489
13.8%
8
9
12.5%
Highest Price
$1,880,000
$2,050,000
9.0%
Average List Price
$1,364,086
$1,696,071
24.3%
Average Sale Price
$1,416,086
$1,684,589
19.0%
103.8%
99.3%
-4.3%
$19,825,000
$23,584,241
19.0%
# of Properties Sold 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
19.0%
The average sales price in Ridge at Hiwan increased by 19.0% in the first half of 2022 compared to that of 2021.
January through June # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through June
2
3
50.0%
$296
$471
59.0%
165
4
-97.6%
Highest Price
$1,850,000
$1,510,000
-18.4%
Average List Price
$1,562,500
$1,301,667
-16.7%
Average Sale Price
$1,500,000
$1,356,667
-9.6%
94.2%
104.2%
10.6%
$3,000,000
$4,070,000
35.7%
2021
2022
% Change
7
4
-42.9%
$482
$535
10.9%
41
39
-4.9%
Highest Price
$4,775,150
$4,598,500
-3.7%
Average List Price
$2,385,571
$2,685,000
12.6%
Average Sale Price
$2,297,450
$2,822,125
22.8%
97.8%
101.6%
3.8%
$16,082,150
$11,288,500
-29.8%
2021
2022
% Change
1
1
0.0%
$703
$564
-19.7%
11
14
27.3%
Highest Price
$2,495,000
$2,200,000
-11.8%
Average List Price
$2,495,000
$2,200,000
-11.8%
Average Sale Price
$2,495,000
$2,200,000
-11.8%
100.0%
100.0%
0.0%
$2,495,000
$2,200,000
-11.8%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through June # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through June # of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
35.7%
The total dollar volume in Riva Chase increased by 35.7% in the first half of 2022 compared to that of 2021.
SPRING RANCH
% Change
SODA CREEK
2022
RIVA CHASE
2021
17
BOULDER
LUXURY MARKET
With bountiful entertainment and recreation options set against the picture-perfect views of the Rocky Mountains, Boulder is a haven for those looking for luxury living in Colorado. This collection of neighborhoods features luxury real estate that captivates buyers from all over. As a whole, the communities within Boulder County saw a 6.9% increase in the number of luxury properties sold through June of this year compared to the same time frame in 2021. The price for luxury homes remained almost consistent with year-ago levels, decreasing by just 0.9% to make the average sale price $1,791,737. The total dollar volume sold in the Boulder County region at the halfway mark for the year was $1,168,212,627 – a 5.9% increase from the same period the year prior.
BOULDER January through June # of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
2021
2022
% Change
610
652
6.9%
77
59
-23.4%
$7,900,000
$10,000,000
26.6%
$1,808,216
$1,791,737
-0.9%
100.3%
103.5%
3.2%
$1,103,011,876
$1,168,212,627
5.9%
Boulder County
Downtown Boulder experienced one of the largest increases in luxury properties sold through June. This lively community saw a 33.3% increase in luxury homes sold, growing from 15 homes sold through Q2 in 2021 to 20 homes sold through Q2 of this year. Boulder’s Foothill Communities, which includes Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, and Eldorado Springs, had the most luxury home sales through June, with 367 luxury properties sold. Luxury listings in the University Hill & Chautauqua neighborhood appreciated the most through the first half of this year compared to the same time frame last year. High-end homes in this area rose in average sold price by 16.7%, making the average price for luxury homes $2,395,966.
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 July 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
2022
% Change
450
419
-6.9%
76
64
-15.8%
$7,900,000
$6,875,000
-13.0%
$1,872,572
$1,929,038
3.0%
100.5%
103.4%
2.9%
$842,657,316
$808,267,003
-4.1%
2021
2022
% Change
123
132
7.3%
85
61
-28.2%
Highest Price
$6,650,000
$10,000,000
50.4%
Average Sale Price
$1,803,992
$1,787,060
-0.9%
98.5%
102.0%
3.6%
$221,891,005
$235,891,983
6.3%
# of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
January through June # of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
# of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
2021
2022
% Change
15
20
33.3%
108
322
198.1%
$6,200,000
$3,800,000
-38.7%
$1,917,667
$2,513,079
31.0%
96.7%
101.4%
4.9%
$28,765,000
$50,261,576
74.7%
The number of homes sold in Boulder County Plains increased by 7.3% in the first half of 2022 compared to that of 2021.
DOWNTOWN BOULDER
January through June
7.3%
BOULDER COUNTY PLAINS
2021
BOULDER (CITY)
January through June
19
FOOTHILLS COMMUNITIES UNIVERSITY HILL & CHAUTAUQUA 20
13.0%
The average number of days on market in the Foothills Communities decreased by 13.0% in the first half of 2022 compared to that of 2021.
January through June # of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
2021
2022
% Change
405
367
-9.4%
77
67
-13.0%
$7,900,000
$6,875,000
-13.0%
$1,909,674
$1,909,389
0.0%
100.2%
102.9%
2.7%
$773,417,982
$700,745,632
-9.4%
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
January through June
2021
2022
% Change
# of Properties Sold
59
42
-28.8%
Average Days on Market
79
47
-40.5%
Highest Price
$6,500,000
$6,875,000
5.8%
Average Sale Price
$2,053,853
$2,395,966
16.7%
99.7%
100.2%
0.5%
$121,177,321
$100,630,590
-17.0%
% Sold Price to List Price Total Dollar Volume
COLORADO SPRINGS LUXURY MARKET South of Denver lies Colorado’s second-largest city, Colorado Springs. This community has become one of the most popular destinations to buy and sell homes in the state. Here, residents enjoy metropolitan amenities, outdoor spaces, and gorgeous homes but with a tight-knit community feel. Throughout the year, Colorado Springs has maintained its reputation as a top priority for those looking to buy and sell luxury real estate. When looking at the luxury market within El Paso and Teller County through Q2 of 2022, it is evident that the demand for homes in the area has maintained a positive growth rate over the past few years. The number of luxury homes sold through June increased by 44.6% compared to the same time frame last year. Luxury home prices decreased by 0.4% to reach an average price of $1,406,180. The increase in sold listings resulted in a 44% increase in the overall total dollar volume sold, bringing the total to $374,043,880.
COLORADO SPRINGS January through June Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price
2021
2022
% Change
184
266
44.6%
$255
$280
9.8%
52
38
-26.9%
$3,800,000
$4,390,265
15.5%
$1,634,866
$1,496,099
-8.5%
Average Sales Price $1,412,027 $1,406,180 -0.4% The majority of luxury neighborhoods within Colorado % Sold Price to List Price 98.8% 101.0% 2.2% Springs saw the number of homes sold increase through June of this year compared to the same time Total Dollar Volume $259,812,968 $374,043,880 44.0% frame in 2021. The most notable increase in luxury El Paso County & Teller County properties sold was seen in Monument. Here, there were 88 listings sold through Q2 of 2022 compared to 46 homes sold through Q2 of 2021 – a 91.3% increase. Kissing Camels also saw an impressive increase in luxury home sales, rising by 83.3% with a total of 11 homes sold so far this year.
Many communities also saw appreciating average sale prices. Black Forest saw average home prices rise by 9.3%, reaching an average price of $1,493,950. Buyers looking for more affordability within Colorado Springs’ luxury market may find success in the Flying Horse neighborhood where average sale prices were $1,225,632 – a 21% decrease from the same period last year. Conversely, Kissing Camels had the highest average sale price for the area with an average sale price of $1,914,352. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2022 through July 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
73.6%
The total dollar volume in Black Forest increased by 73.6% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
34
54
58.8%
$266
$292
9.8%
29
47
62.1%
$2,650,000
$3,200,000
20.8%
Average List Price
$1,540,767
$1,545,305
0.3%
Average Sales Price
$1,367,128
$1,493,950
9.3%
99.3%
100.1%
0.8%
$46,482,352
$80,673,300
73.6%
2021
2022
% Change
50
47
-6.0%
$264
$251
-4.9%
60
60
0.0%
$3,800,000
$3,500,000
-7.9%
Average List Price
$1,990,419
$1,833,371
-7.9%
Average Sales Price
$1,541,010
$1,540,096
-0.1%
97.1%
98.3%
1.2%
$77,050,500
$72,384,512
-6.1%
2021
2022
% Change
18
23
27.8%
$274
$253
-7.7%
33
27
-18.2%
$3,800,000
$2,100,000
-44.7%
Average List Price
$1,636,198
$1,431,560
-12.5%
Average Sales Price
$1,551,314
$1,225,632
-21.0%
100.7%
100.9%
0.2%
$27,923,652
$28,189,536
1.0%
Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% 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 June Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
18.2%
The average number of days on market in Flying Horse decreased by 18.2% in the first half of 2022 compared to that of 2021.
January through June Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
2022
% Change
6
11
83.3%
$232
$476
105.2%
50
82
64.0%
Highest Price
$1,800,000
$4,390,265
143.9%
Average List Price
$1,665,558
$1,472,527
-11.6%
Average Sales Price
$1,296,983
$1,914,352
47.6%
101.2%
113.0%
11.7%
$7,781,898
$21,057,872
170.6%
2021
2022
% Change
46
88
91.3%
$222
$264
18.9%
22
18
-18.2%
$1,590,000
$3,200,000
101.3%
$1,356,722
$1,466,628
8.1%
$1,217,911
$1,341,475
10.1%
100.8%
101.9%
1.1%
$56,023,906
$118,049,800
110.7%
Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
January through June 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
10.1%
The average sales price in Monument increased by 10.1% in the first half of 2022 compared to that of 2021.
MONUMENT
2021
KISSING CAMELS
January through June
23
GRAND COUNTY LUXURY MARKET Encompassing 1,868 square miles of rolling meadows, river valleys, and spectacular mountains, Grand County is a community that offers residents an unbeatable lifestyle amidst nature’s beauty. The luxury real estate market in this special community experienced a 52.7% boost in the number of properties sold through June of this year in comparison to the same time frame last year. Additionally, the average sale price of those luxury homes sold rose to $1,640,728 – 3.4% higher than the previous year. Combined, those rising metrics resulted in a 57.9% rise in total dollar volume sold, which totaled $185,402,287 through Q2.
GRAND COUNTY
In the town of Winter Park, luxury single family home sales increased by 125%, rising from four homes sold through June 2021 to nine homes sold through June 2022. Granby also experienced a notable rise in luxury homebuying activity, with property sales increasing by 115.4%. Here, there were the most luxury real estate sales within Grand County for Q2 with a total of 28 properties sold so far this year.
January through June
2021
2022
% Change
74
113
52.7%
120
129
7.5%
$4,600,000
$8,370,000
82.0%
Average List Price
$1,608,874
$1,629,439
1.3%
Average Sale Price
$1,586,771
$1,640,728
3.4%
99.6%
102.3%
2.6%
$117,421,055
$185,402,287
57.9%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
The Winter Park community also saw luxury single-family home prices appreciate through Q2, rising by 12.9% to $2,042,045. A few communities within the Grand County area saw significant sales that help illustrate the strong demand for high-end homes in this region. For example, in Tabernash, there was a $5,850,000 sale during the first two quarters of the year which is 67.1% higher than the highest-priced sale during the same period last year. The highest-priced sale in the region was recorded in Kremmling, where an $8,370,000 sale was closed earlier this year.
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 July 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 June
2022
% Change
11
21
90.9%
141
165
17.0%
Highest Price
$4,100,000
$3,970,000
-3.2%
Average List Price
$2,019,264
$1,796,079
-11.1%
Average Sale Price
$1,978,550
$1,805,575
-8.7%
99.7%
102.0%
2.3%
$21,764,052
$37,917,077
74.2%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
74.2% The total dollar volume in Fraser increased by 74.2% in the first half of 2022 compared to that of 2021.
FRASER
2021
Single Family Homes
January through June
2022
% Change
# of Properties Sold
13
28
115.4%
Average Days on Market
61
75
23.0%
Highest Price
$1,750,000
$2,025,000
15.7%
Average List Price
$1,340,385
$1,310,143
-2.3%
Average Sale Price
$1,318,038
$1,341,021
1.7%
98.4%
102.6%
4.3%
$17,134,500
$37,548,605
119.1%
% Sold Price to List Price Total Dollar Volume
115.4% The numbers of properties sold in Granby increased by 115.4% in the first half of 2022 compared to that of 2021.
GRANBY
2021
Single Family Homes
January through June
2022
% Change
# of Properties Sold
16
12
-25.0%
Average Days on Market
95
112
17.9%
$4,600,000
$2,750,000
-40.2%
Average List Price
$1,713,063
$1,652,500
-3.5%
Average Sale Price
$1,702,328
$1,623,687
-4.6%
99.5%
97.5%
-2.0%
$27,237,250
$19,484,250
-28.5%
Highest Price
% Sold Price to List Price Total Dollar Volume
Single Family Homes
GRAND LAKE
2021
25
KREMMLING
71.9% The average days on market in Kremmling decreased by 71.9% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
3
2
-33.3%
449
126
-71.9%
Highest Price
$1,225,000
$8,370,000
583.3%
Average List Price
$1,276,667
$5,729,500
348.8%
Average Sale Price
$1,150,000
$4,785,000
316.1%
90.9%
83.0%
-8.7%
$3,450,000
$9,570,000
177.4%
# of Properties Sold Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
TABERNASH
January through June
2021
2022
% Change
12
12
0.0%
134
70
-47.8%
$3,500,000
$5,850,000
67.1%
Average List Price
$1,744,900
$2,059,333
18.0%
Average Sale Price
$1,747,375
$2,088,420
19.5%
101.6%
104.2%
2.5%
$20,968,500
$25,061,050
19.5%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
WINTER PARK
Single Family Homes
12.9%
The average sales price in Winter Park increased by 12.9% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
4
9
125.0%
53
366
590.6%
$2,646,000
$3,775,000
42.7%
Average List Price
$1,977,500
$1,929,556
-2.4%
Average Sale Price
$1,808,375
$2,042,045
12.9%
94.7%
104.9%
10.7%
$7,233,500
$18,378,413
154.1%
# of Properties Sold Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Single Family Homes
26
SUMMIT COUNTY LUXURY MARKET Summit County, home to some of the most amazing resort towns and mountain communities in Colorado, has much to offer consumers hoping to reach their real estate and lifestyle goals. From world-class skiing to breathtaking views, there are plenty of reasons to want to live in any of the amazing areas within Summit County. Overall, Summit County has seen a 34.1% increase in the number of luxury homes sold through June of this year compared to the same period in 2021. High-end homes here had a small decrease in price by 3.3%, bringing the average sold price to $3,035,509 at the halfway point of the year. Despite the decrease in average sales price, the total sales volume for the area increased significantly by 29.7% to reach a total of $370,332,074.
SUMMIT COUNTY January through June
2021
2022
% Change
91
122
34.1%
$735
$823
12.0%
63
31
-50.8%
$17,000,000
$12,200,000
-28.2%
Average List Price
$3,228,090
$3,086,221
-4.4%
Average Sale Price
$3,138,240
$3,035,509
-3.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
Out of Summit County’s luxury communities, % Sold Price to List Price 97.9% 99.4% 1.6% Copper Mountain and Keystone saw the most Total Dollar Volume $285,579,865 $370,332,074 29.7% significant increases in single-family home sales through Q2. In Copper Mountain, the number of homes sold rose by 300%, from one home sold through June of 2021 to four homes sold through June of this year. The most luxury home sales within Summit County were recorded in Breckenridge, with 50 homes sold so far this year. The average sales price for most Summit County luxury communities sat above $3,000,000 for the first two quarters of the year. In Copper Mountain, the average sale price for a luxury home was $3,982,769 – a 3.4% increase from the same period last year and the highest average price for all neighborhoods included in Summit County. High-end homes in Breckenridge and Keystone sold for average prices of $3,380,278 and $3,111,429 respectively.
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 July 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 June
2021
2022
% Change
50
50
0.0%
$697
$838
20.2%
79
30
-62.0%
$17,000,000
$12,200,000
-28.2%
Average List Price
$3,641,040
$3,468,220
-4.7%
Average Sale Price
$3,526,413
$3,380,278
-4.1%
97.5%
98.9%
1.4%
$176,320,650
$169,013,890
-4.1%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
COPPER MOUNTAIN
Single Family Homes
26.5% The average price per square foot in Copper Mountain increased by 26.5% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
1
4
300.0%
$605
$766
26.5%
4
13
225.0%
Highest Price
$3,850,000
$5,431,074
41.1%
Average List Price
$3,995,000
$4,020,268
0.6%
Average Sale Price
$3,850,000
$3,982,769
3.4%
96.4%
99.0%
2.7%
$3,850,000
$15,931,074
313.8%
# 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 June
2021
2022
% Change
5
7
40.0%
$577
$715
23.9%
82
9
-89.0%
Highest Price
$4,025,000
$4,375,000
8.7%
Average List Price
$2,933,000
$3,116,143
6.2%
Average Sale Price
$2,836,000
$3,111,429
9.7%
96.4%
99.8%
3.5%
$14,180,000
$21,780,000
53.6%
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 For those who are looking for a small town feel with the benefit of incredible scenery, skiing, and luxury homes, Crested Butte is the place to live. As the market has begun to change this year, Crested Butte has seen a slight downturn in the number of luxury properties sold through June of this year. At the halfway mark for the year, there were 18 luxury home sales – 14.3% less than this period last year. The average price for those listings sold rose by 11.9% to reach an average sale price of $3,318,933. Looking at the average price for local luxury residences, similar trends can be observed. The Town of Crested Butte saw a decrease in the number of luxury listings sold in comparison to the red-hot market that this area had CRESTED BUTTE last year. In the Town of Crested Butte, there were 11 sales through June of this year, which is 26.7% fewer January through June 2021 2022 % Change than the previous year. In the Rural Crested Butte # of Properties Sold 21 18 -14.3% neighborhoods, there were eight luxury home sales Average Price Per Square Foot $891 $852 -4.3% so far this year compared to nine home sales during Average Days on Market 175 157 -10.3% the same period in 2021. $4,200,000
$6,792,000
61.7%
Average List Price
$3,078,476
$3,393,722
10.2%
Average Sale Price
$2,966,430
$3,318,933
11.9%
96.4%
97.8%
1.5%
$62,295,040
$59,740,800
-4.1%
Highest Price
However, both communities saw an appreciation of luxury home values and increasing average sale prices. The Town of Crested Butte and Rural Crested Butte saw average sale price increase to $3,534,381 and $3,259,775 respectively.
% Sold Price to List Price Total Dollar Volume
Gunnison County
In Mount Crested Butte, there were six luxury homes sold in the first half of 2022. Homes in this area sold for an average sale price of $2,960,433, which makes this the most affordable community to find a luxury home for those in search of their Crested Butte dream home.
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 July 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 sale price in the Town of Crested Butte increased by 17.8% in the first half of 2022 compared to that of 2021.
RURAL CRESTED BUTTE 30
2021
2022
% Change
15
11
-26.7%
$1,013
$992
-2.1%
189
136
-28.0%
$4,200,000
$6,792,000
61.7%
Average List Price
$3,111,866
$3,620,636
16.3%
Average Sale Price
$2,999,202
$3,534,381
17.8%
96.4%
97.6%
1.3%
$44,988,040
$38,878,200
-13.6%
# 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
MT. CRESTED BUTTE
TOWN OF CRESTED BUTTE
17.8%
January through June
January through June
2021
2022
% Change
6
6
0.0%
$587
$646
10.0%
140
155
10.7%
Highest Price
$3,825,000
$3,300,000
-13.7%
Average List Price
$2,995,000
$3,044,166
1.6%
Average Sale Price
$2,884,500
$2,960,433
2.6%
96.3%
97.2%
1.0%
$17,307,000
$17,762,600
2.6%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
56.3% The average number of days on market in Rural Crested Butte decreased by 56.3% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
9
8
-11.1%
$924
$748
-19.0%
174
76
-56.3%
$4,200,000
$6,792,000
61.7%
Average List Price
$2,858,777
$3,359,625
17.5%
Average Sale Price
$2,852,115
$3,259,775
14.3%
99.8%
97.0%
-2.7%
$24,769,040
$26,078,200
5.3%
# 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
VAIL VALLEY LUXURY MARKET As home to some of Colorado’s best skiing, stunning natural spaces, and a luxury resort lifestyle, the Vail Valley is a sought-after destination to invest in primary residences and vacation houses. At the halfway point of the year, the Vail Valley saw a 7% increase in the number of luxury listings sold. Luxury homes here sold for an average price of $6,019,594. Overall, the Vail Valley experienced a 17.1% increase in the dollar volume sold, totaling $734,390,471 through June of this year. The Vail Golf Course community saw the most dramatic increase in the number of luxury properties sold through June of this year, rising 33.3% from three homes sold through Q2 of last year to four homes sold so far this year. The Town of Vail had the most luxury homes sold overall, with a total of 50 properties sold through June—a 6.4% increase.
VAIL VALLEY January through June # of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price Average List Price
2021
2022
% Change
114
122
7.0%
$1,341
$1,514
12.9%
222
69
-68.9%
$34,000,000
$30,875,000
-9.2%
$5,842,895
$6,226,971
6.6%
Average Sale Price $5,499,199 $6,019,594 9.5% Average sale prices for homes in many areas of the % Sold Price to List Price 94.9% 97.6% 2.8% beloved Vail Valley also experienced upward trends Total Dollar Volume $626,908,795 $734,390,471 17.1% through the first half of the year. In the Arrowhead Eagle County neighborhood, the average sale price increased by 11.6% to reach $5,547,772 through June. Several significant sales throughout individual Vail Valley neighborhoods created more dramatic increases in average sale prices. An amazing $30,875,000 sale in Lionshead, which is 306.3% higher in price than the most expensive sale through Q2 of 2021—helped raise the average sale price for the area by 103.9%. In Mountain Star, a significant sale of $20,250,000, which is 224.0% higher in price than the most expensive sale through Q2 of 2021—helped raise the average sale price for the area by 128.7%.
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 July 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
36.4% The total dollar volume in Arrowhead increased by 36.4% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
9
11
22.2%
$725
$986
36.0%
110
98
-10.9%
$10,605,750
$7,575,000
-28.6%
Average List Price
$5,275,000
$5,611,182
6.4%
Average Sale Price
$4,971,105
$5,547,772
11.6%
94.5%
99.6%
5.4%
$44,739,950
$61,025,500
36.4%
# 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
All Properties
January through June
2021
2022
% Change
12
13
8.3%
$1,114
$1,380
23.9%
131
28
-78.6%
$13,500,000
$11,750,000
-13.0%
Average List Price
$7,079,583
$6,823,846
-3.6%
Average Sale Price
$6,859,479
$6,692,423
-2.4%
97.2%
97.8%
0.6%
$82,313,750
$87,001,500
5.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
All Properties
85.4%
The average number of days on market in Beaver Creek decreased by 85.4% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
18
18
0.0%
$1,060
$1,394
31.5%
335
49
-85.4%
$10,950,000
$10,200,000
-6.8%
Average List Price
$5,909,944
$4,578,667
-22.5%
Average Sale Price
$5,603,555
$4,459,083
-20.4%
95.6%
97.6%
2.0%
$100,864,000
$80,263,500
-20.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
All Properties
32
January through June
2022
% Change
47
50
6.4%
$2,042
$2,108
3.2%
273
81
-70.3%
$34,000,000
$30,875,000
-9.2%
Average List Price
$6,491,319
$7,308,290
12.6%
Average Sale Price
$6,052,799
$7,015,990
15.9%
94.4%
97.3%
3.1%
$284,481,595
$350,799,500
23.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
15.9%
The average sale price in the Town of Vail increased by 15.9% in the first half of 2022 compared to that of 2021.
TOWN OF VAIL
2021
All Properties
January through June
2022
% Change
22
18
-18.2%
$2,701
$2,702
0.0%
110
82
-25.5%
$34,000,000
$19,000,000
-44.1%
Average List Price
$7,707,455
$7,414,028
-3.8%
Average Sale Price
$7,230,170
$7,127,361
-1.4%
95.0%
97.3%
2.4%
$159,063,750
$128,292,500
-19.3%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
VAIL VILLAGE
2021
All Properties
January through June
2022
% Change
12
11
-8.3%
$1,802
$2,606
44.6%
409
100
-75.6%
Highest Price
$7,600,000
$30,875,000
306.3%
Average List Price
$5,302,417
$10,381,364
95.8%
Average Sale Price
$4,870,833
$9,932,272
103.9%
93.2%
96.3%
3.3%
$58,450,000
$109,255,000
86.9%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
44.6% The average price per square foot in Lionshead increased by 44.6% in the first half of 2022 compared to that of 2021.
LIONSHEAD
2021
All Properties
33
The number of properties sold in Vail Golf Course increased by 33.3% in the first half of 2022 compared to that of 2021.
MOUNTAIN STAR
2021
2022
% Change
3
4
33.3%
$1,528
$1,674
9.6%
277
172
-37.9%
$8,200,000
$15,500,000
89.0%
Average List Price
$5,581,667
$9,350,000
67.5%
Average Sale Price
$5,215,000
$8,618,750
65.3%
93.3%
94.5%
1.3%
$15,645,000
$34,475,000
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
120.4% All Properties
January through June
SPRADDLE CREEK
VAIL GOLF COURSE
33.3%
January through June
2021
2022
% Change
1
No Sales
-
$1,078
-
-
650
-
-
Highest Price
$8,100,000
-
-
Average List Price
$9,999,000
-
-
Average Sale Price
$8,100,000
-
-
81.0%
-
-
$8,100,000
-
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
All Properties
67.5% The average number of days on market in Mountain Star decreased by 67.5% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
3
3
0.0%
$592
$1,355
128.9%
625
203
-67.5%
Highest Price
$6,250,000
$20,250,000
224.0%
Average List Price
$5,580,000
$12,713,333
127.8%
Average Sale Price
$5,290,833
$12,100,000
128.7%
95.0%
94.4%
-0.7%
$15,872,500
$36,300,000
128.7%
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
All Properties
34
TELLURIDE LUXURY MARKET Overall, San Miguel County, which is home to Telluride and surrounding communities, experienced an impressive 12.5% increase in the number of luxury homes sold through June compared to the same time frame in 2021. The average price of luxury homes also rose this year, appreciating by 1.3% to reach an average sold price of $6,288,462. Combined, these increases resulted in a 14% increase in the overall dollar volume sold, totaling $339,576,933. Within San Miguel County, the Town of Telluride and the Surrounding Mesas community experienced increases in luxury homebuying activity through the first half of the year. In the Town of Telluride, high-end home sales rose by 72.7% from 11 homes sold at the half-way point last year to 19 homes sold so far this year. In the Surrounding Mesas, which include Deep Creek Mesa, Hastings Mesa, Iron Springs/Horsefly Mesa, Specie Mesa, Sunshine Mesa, Turkey Creek Mesa, and Wilson Mesa, there were 11 luxury home sales so far this year – a 10% increase from last year.
TELLURIDE January through June
2021
2022
% Change
48
54
12.5%
$1,234
$1,703
38.0%
352
178
-49.4%
$39,500,000
$17,100,000
-56.7%
Average List Price
$6,341,188
$6,645,926
4.8%
Average Sale Price
$6,205,500
$6,288,462
1.3%
97.9%
94.6%
-3.3%
$297,864,000
$339,576,933
14.0%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
San Miguel County
The most significant increase in average sales price within Telluride’s luxury real estate market was seen in Mountain Village where the average sale price rose 13.8% to $6,012,508. This community also saw an impressive $17,100,000 sale that played a role in increasing the overall average sale price for the area. This sale was the highest-priced sale in the mountain community of Telluride, which helps illustrate that luxury homes are still a top priority for homebuyers in the area.
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 July 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 number of properties sold in the Town of Telluride increased by 72.7% in the first half of 2022 compared to that of 2021.
SURROUNDING MESAS 36
2021
2022
% Change
11
19
72.7%
$2,122
$2,258
6.4%
139
111
-20.1%
Highest Price
$9,550,000
$12,500,000
30.9%
Average List Price
$5,495,455
$6,008,947
9.3%
Average Sale Price
$5,438,182
$5,806,582
6.8%
99.0%
96.6%
-2.3%
$59,820,000
$110,325,058
84.4%
# 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
72.7%
January through June
January through June
2021
2022
% Change
26
25
-3.8%
$901
$1,294
43.6%
459
193
-58.0%
Highest Price
$8,100,000
$17,100,000
111.1%
Average List Price
$5,456,308
$6,153,000
12.8%
Average Sale Price
$5,282,558
$6,012,508
13.8%
96.8%
97.7%
0.9%
$137,456,500
$150,312,700
# of Properties Sold Average Price Per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
9.4% All Properties
50.8%
The average price per square foot in the Surrounding Mesas increased by 50.8% in the first half of 2022 compared to that of 2021.
January through June
2021
2022
% Change
10
11
10.0%
$1,053
$1,588
50.8%
278
264
-5.0%
$39,500,000
$15,000,000
-62.0%
Average List Price
$8,616,300
$8,635,000
0.2%
Average Sale Price
$8,479,750
$7,521,743
-11.3%
98.4%
87.0%
-11.5%
$84,797,500
$82,739,175
-2.4%
# of Properties Sold Average Price Per Square Foot Average Days on Market Highest Price
% 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