Quarterly Market Report
COLORADO’S FRONT RANGE
Welcome
FRONT RANGE REAL ESTATE MARKET
Purchasing a home is one of the greatest investments you will make. We hope this report helps you navigate this fast-moving and ever-changing real estate market.
As the market continues to readjust following the burst of real estate activity seen during the pandemic, the Colorado Front Range is experiencing relatively steady levels of homebuying and selling. The number of homes sold across the state decreased in comparison to the previous year. While rising interest rates mean that buyers have less purchasing power and sellers have come down ever so slightly on pricing, limited inventory and high demand
still give sellers a lot of control in this market. The real estate market throughout Colorado’s Front Range is making its way back to its regularly observed seasonal buying and selling trends.
We recognize each locality is unique and no two regions respond to market shifts the same way. To aid in presenting an accurate picture of each of the areas that make up Colorado, LIV Sotheby’s International Realty is proud to present our Quarterly Market Report for Colorado’s Front Range representing the metrics of many key and beloved neighborhoods.
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January - June 2023 | 3 *Denver Metro $573,814 20,483 41 $327 $9,250,000 100% South Metro $675,000 3,168 48 $293 $5,950,000 99% West Metro & Foothills $615,000 3,967 36 $337 $4,700,000 100% Boulder $724,650 1,824 55 $438 $13,000,000 99% Northern Colorado $525,000 4,612 45 $281 $16,000,000 100% Colorado Springs $455,000 1,055 40 $240 $3,000,000 99% Median Price Properties Sold Avg. Days on Market Price per Sq. Ft. Highest Sale List Price to Sold Price Q2 $16,000,000
Sold Price
Highest
2022 vs 2023
43 Average Days on Market - 51% + 66%
% Change
FRONT RANGE
27,974 Properties Sold - 7%
*Denver Metro Counties: Arapahoe, Adams, Denver, Broomfield, Douglas, and Jefferson. All residential properties
Greater Denver Metro
A city with a focus on the outdoors and 300 days of sunshine it’s no wonder people choose to call Denver and the surrounding community’s home. Denver Metro boasts some of the best entertainment options, business opportunities, and outdoor access in the country and for those reasons and many more, this city and its neighboring areas will continue to be a popular choice for home buyers and sellers. As this year progresses, this high-demand market will continue to create opportunities for both buyers and sellers to create the life they love.
AT A GLANCE
Median Sold Price $573,814 -5.4% Properties Sold 20,483 -15.7% Average Days on Market 41 75.6% Average Price per Sq. Ft. $327 -6.1% % Sold Price, to List Price 100.0% -5.0% Jan - June 2023 % Change Counties: Arapahoe, Adams, Denver, Broomfield, Douglas, and Jefferson. All residential properties YTD 2022 vs 2023
$13,671,135,245 Total Sales Volume - 21.1% 2022 vs 2023 % Change
$9,250,000 Highest Sold Price
January - June 2023 | 5 Based on Information from REColorado for the period January 1st, 2023 - June 30th, 2023 (Powered by LiveBy). This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market. June 2022 - July 2023 AVERAGE DAYS ON MARKET Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 23 14 19 27 29 35 44 47 47 37 29 23 June 2022 - July 2023 TOTAL SALES VOLUME Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $1.0B $1.5B $2.0B $2.5B $1.9B $2.7B $2.6B $3.0B $1.3B $1.8B $1.9B $2.3B $2.9B $2.9B $3.0B June 2022 - June 2023 MEDIAN SOLD PRICE Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $600k $625k $650k $675k $700k
$3.1B $3.1B
Denver Metro
$573,814 Median Sold Price
20,483 Properties Sold
41 Average Days on Market
$327 Price Per Square Foot
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January - June 2023 | 7 City of Denver 4,857 $728,201 37 Broomfield 476 $635,000 46 Commerce City 667 $519,973 49 Englewood 224 $602,197 30 Littleton 274 $639,764 35 Aurora 2,874 $479,314 40 Centennial 664 $698,657 36 Greenwood Village 83 $1,720,340 27 Cherry Hills Village 50 $3,869,968 62 Thornton 969 $535,913 39 Westminster 717 $537,756 30 Scan for Community Data Properties Sold Median Sold Price Average Days on Market Scan for Live Data
South Metro
$675,000 Median Sold Price
3,168 Properties Sold
48 Average Days on Market
$293 Price Per Square Foot
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January - June 2023 | 9 Highlands Ranch 648 $785,769 33 Lone Tree 75 $1,024,706 79 Parker 584 $643,776 48 Castle Rock 723 $665,243 43 Castle Pines 146 $1,017,324 48 Sedalia 12 $1,428,329 57 Franktown 2 $1,100,000 69 Larkspur 33 $984,529 97 Scan for Community Data Properties Sold Median Sold Price Average Days on Market Scan for Live Data
West Metro & Foothills
$615,000 Median Sold Price
3,967 Properties Sold
36 Average Days on Market
$337 Price Per Square Foot
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January - June 2023 | 11 Arvada 915 $647,998 33 Lakewood 999 $583,903 33 Wheat Ridge 215 $668,955 44 Evergreen 60 $907,903 22 Morrison 45 $845,443 39 Golden 79 $961,775 26 Conifer 68 $847,500 74 Scan for Community Data Properties Sold Median Sold Price Average Days on Market Scan for Live Data
Boulder AT A GLANCE
Boulder County is filled with communities that offer a variety of lifestyles and opportunities for home buyers to create the life they love. As a national leader in sustainability efforts and bountiful recreation options, Boulder County attracts those looking for a combination of exciting city luxuries and proximity to nature that few other areas offer. Over the past few years, Boulder County and the unique communities within it have seen strong real estate activity because of the unique lifestyle the area provides.
Median Sold Price $724,650 -5.7% Properties Sold 1,824 -24.2% Average Days on Market 55 38.2% Average Price per Sq. Ft. $438 -1.8% % Sold Price, to List Price 99.0% -6.1% Jan - June 2023 % Change Boulder County. All residential properties. YTD 2022 vs 2023
$1,762,081,666 Total Sales Volume - 28.4% 2022 vs 2023 % Change
$13,000,000 Highest Sold Price
January - June 2023 | 13 Based on Information from IRES, LLC and REColorado for the period January 1st, 2023 - June 30th, 2023 (Powered by LiveBy). This representation is based in whole or in part on data supplied by IRES, LLC and REColorado. IRES, LLC and REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by IRES, LLC and REColorado may not reflect all real estate June 2022 - July 2023 AVERAGE DAYS ON MARKET Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 47 35 48 47 49 55 62 76 64 58 52 46 June 2022 - July 2023 TOTAL SALES VOLUME Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $300M $400M $600M $800M $381M $545M $535M $680M $710M $352M $412M $452M $568M $680M $709M $775M $100M June 2022 - June 2023 MEDIAN SOLD PRICE Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $650k $675k $700k $725k $750k
Boulder
$724,650 Median Sold Price
1,824 Properties Sold
55 Average Days on Market
$438 Price Per Square Foot
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January - June 2023 | 15 City of Boulder 519 $1,337,546 52 Longmont 546 $614,514 54 Louisville 113 $922,034 46 Niwot 29 $1,427,703 74 Erie 309 $700,000 53 Lafayette 171 $637,000 37 Superior 87 $801,600 62 Scan for Community Data Properties Sold Median Sold Price Average Days on Market Scan for Live Data
Northern
Northern Colorado is home to cities such as Fort Collins, Loveland, Greeley, Berthoud, Windsor, Johnston, and Timnath, all which provide the unique Colorado lifestyle while continuing to attract young professionals, families, and outdoor adventure seekers alike. At the base of the Rocky Mountains, there are multiple year-round recreational opportunities including kayaking, rafting, camping, snowshoeing, ice hockey, and cross-country skiing. Downtown Fort Collins offers a wholesome community feel and hints at a bygone era. Craft breweries, historical buildings, live music, and festivals keep the area bustling. For those looking to live a quintessential Colorado lifestyle, nothing beats Fort Collins and Northern Colorado.
Jan - June 2023
Median Sold Price $525,000 -1.0% Properties Sold 4,612 -30.2% Average Days on Market 45 55.6% Average Price per Sq. Ft. $281 -26.7% % Sold Price, to List Price 100.0% -3.0% % Change YTD 2022 vs 2023
Colorado AT A GLANCE
Cities: Fort Collins, Loveland, Greeley, Berthoud, Windsor, Johnstown, and Timnath. All residential properties
Total Sales Volume - 29.6% 2022 vs 2023 % Change
$2,758,688,867
$16,000,000 Highest Sold Price
January - June 2023 | 17 Based on Information from REColorado for the period January 1st, 2023 - June 30th, 2023 (Powered by LiveBy). This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market. June 2022 - July 2023 AVERAGE DAYS ON MARKET Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 29 16 25 25 30 35 45 52 52 46 44 31 June 2022 - July 2023 TOTAL SALES VOLUME Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $200M $300M $400M $500M $337M $438M $413M $515M $478M $270M $315M $358M $447M $524M $539M $545M $600M June 2022 - June 2023 MEDIAN SOLD PRICE Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $500k $525k $550k $575k $600k
$525,000 Median Sold Price
4,612 Properties Sold
45 Average Days on Market
$281 Price Per Square Foot
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Northern Colorado
January - June 2023 | 19 Fort Collins 958 $587,301 26 Loveland 679 $522,206 45 Greeley 649 $412,577 65 Berthoud 148 $709,080 90 Windsor 480 $616,292 47 Johnstown 278 $511,460 56 Timnath 87 $935,957 33 Scan for Community Data Properties Sold Median Sold Price Average Days on Market Scan for Live Data
Colorado Springs
Colorado Springs, the state’s second largest city, is currently one of the most sought-after areas to live in the country. This colorful Colorado community offers its residents exciting entertainment options, unique cultural offerings, and enough outdoor activities to keep any adventurer satisfied. Thanks to the amazing array of lifestyles this city can cater to, more consumers are deciding to make this community their home.
AT
GLANCE Median Sold Price $455,000 -1.1% Properties Sold 5,491 -25.5% Average Days on Market 42 281.0% Average Price per Sq. Ft. $231 0.9% % Sold Price, to List Price 99.4% -3.5% Jan - June 2023 % Change Counties: El Paso and Teller. All residential properties
A
Sales Volume - 20% 2022 vs 2023 % Change
$761,210,450
$3,000,000 Highest Sold Price
January - June 2023 | 21 Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1st, 2023 - June 30th, 2023. RSC does not guarantee or is in any way responsible for its accuracy. Data maintained by RSC may not reflect all real estate activity in the market. June 2022 - July 2023 AVERAGE DAYS ON MARKET Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May 22 14 17 24 31 34 41 49 51 46 36 28 June 2022 - July 2023 TOTAL SALES VOLUME Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $20M $40M $60M $80M $28M $34M $62M $70M $64M $30M $67M $68M $97M $63M $40M $68M $100M June 2022 - June 2023 MEDIAN SOLD PRICE Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May $450k $475k $500k $525k $550k
Total
Colorado Springs
$455,000 Median Sold Price
3,966 Properties Sold
40 Average Days on Market
$233 Price Per Square Foot
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January - June 2023 | 23 Black Forest 120 $1,023,500 47 Broadmoor 81 $900,000 36 Flying Horse 53 $879612 80 Monument 256 $734,950 55 Banning Lewis Ranch 152 $525,000 31 Scan for Community Data Properties Sold Median Sold Price Average Days on Market Scan for Live Data
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© 2023 LIV Sotheby’s International Realty. All Rights Reserved. LIV Sotheby’s International Realty® is a registered trademark and used with permission. Each Sotheby’s International Realty office is independently owned and operated, except those operated by Sotheby’s International Realty, Inc. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Equal Housing Opportunity.
