COLORADO RESIDENTIAL LUXURY REPORT Q3 2020
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RESIDENTIAL LUXURY REPORT INTRODUCTION
So far, 2020 has presented the real estate market with many ups and downs. Due to restrictions put in place for the health and safety of the public, the housing market slowed down significantly in the spring. However, consumers’ desire for Colorado homes never ceased and the pent-up demand resulted in a surge of buying activity throughout the summer and well into the fall. Now, thanks to the state’s array of naturally socially distant activities such as hiking, fishing, biking, and more, it has become a top destination to buy and sell houses. In analyzing luxury real estate performance through Q3, it is clear that the Colorado luxury home market has made a full recovery. LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a quarterly Residential Luxury Report, comparing January through September of this year to the previous year. The report measures the performance of luxury real estate markets in some of Colorado’s most popular communities, 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+), South Metro ($1 million+), the Foothills ($1 million+), Boulder ($1 million+), Colorado Springs ($1 million+), Summit County ($2 million+), Crested Butte ($2 million+), the Vail Valley ($3 million+), and Telluride ($3 million+).
P.
03
Denver Metro $1 million+
P.
18
Boulder
P.
25
Crested Butte $2 million+
2
P.
$1 million+
$1 million+
P.
21
Colorado Springs $1 million+
P.
27
Vail Valley $3 million+
Pictured on cover: 1215 Kylie Heights, Woodland Park
15
Foothills
South Metro
$1 million+
P.
11
P.
23
Summit County $2 million+
P.
31
Telluride $3 million+
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722 N Humboldt Street, Denver
DENVER METRO LUXURY MARKET Denver Metro, which was recently named the second best city to live in the country by U.S. News and World Report, saw a tremendous amount of buying and selling activity through Q3 of this year. Overall, the six counties across Denver Metro experienced a 16.8% increase in the number of luxury homes sold through September compared to the same time period in 2019. The rise in luxury home sales resulted in a 16.2% increase in the total dollar volume sold, bringing it to $2,821,095,503. The strength of the market was seen throughout the individual neighborhoods within Denver Metro as well. In Greenwood Village West, properties on less than an acre saw an impressive 91.2% increase in the number of luxury homes sold, growing from 34 homes sold through Q3 of 2019 to 65 homes sold so far this year. Bow Mar and Bow Mar South also saw a notable rise in luxury home sales, increasing 75% through September.
DENVER METRO January through September
2019
2020
% Change
# of Properties Sold
1,582
1,847
16.8%
Average Price per Square Foot
$457
$465
1.7%
59
52
-11.9%
$10,750,000
$9,000,000
-16.3%
$1,581,755
$1,571,298
-0.7%
Average Days on Market Highest Price Average List Price
Average Sale Price $1,533,421 $1,527,393 -0.4% The demand for homes in Denver Metro has created an upward trend in luxury property prices. The % Sold Price to List Price 95.3% 96.0% 0.8% Washington Park East and Washington Park Central Total Dollar Volume $2,427,172,283 $2,821,095,503 16.2% neighborhoods, which are popular due to their Counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson proximity to the gorgeous open space at Washington Park, saw a 4.2% increase in sold prices for luxury homes. From January to September of this year, the average sold price for a luxury home in this neighborhood was $1,764,573.
Limited inventory of available luxury homes has motivated buyers to purchase homes more quickly. For example, luxury homes in the City of Denver spent an average of 14.3% less time on the market through Q3 of this year, which equals an average days on market of 42 days. Based on $1,000,000+ sales in Adams, Arapahoe, Broomfield, Denver, Douglas, and Jefferson Counties. Based on information from REColorado. 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.
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
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DENVER (CITY) January through September
2019
2020
% Change
721
827
14.7%
Living in Denver provides
$532
$531
-0.2%
dramatic views of the Rocky
49
42
-14.3%
Mountains and over 300 days
$10,750,000
$4,625,000
-57.0%
Average List Price
$1,630,129
$1,562,136
-4.2%
Average Sale Price
$1,586,660
$1,521,091
-4.1%
95.8%
96.2%
0.5%
$1,145,281,689
$1,257,942,141
9.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
of sunshine, all complemented by an array of distinct neighborhoods including LoHi, RiNo, and Cherry Creek.
Boundaries: City of Denver
BONNIE BRAE/BELCARO
41.7%
January through September Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
23
29
26.1%
$578
$558
-3.5%
60
35
-41.7%
The average days on market for luxury homes
Highest Price
$4,875,000
$3,100,000
-36.4%
within the neighborhood of Bonnie Brae/
Average List Price
$1,868,000
$1,536,014
-17.8%
Belcaro decreased by 41.7% January through
Average Sale Price
$1,820,617
$1,492,748
-18.0%
September 2020 compared to that of 2019.
% Sold Price to List Price
93.3%
94.9%
1.7%
$41,874,196
$43,289,701
3.4%
Total Dollar Volume
Boundaries: Mississippi to Cherry Creek Drive South; University to Colorado
BOW MAR/BOW MAR SOUTH January through September
75.0%
2019
2020
% Change
8
14
75.0%
$549
$518
-5.5%
74
27
-63.5%
Highest Price
$3,250,000
$2,922,800
-10.1%
The number of luxury properties sold within
Average List Price
$2,347,250
$1,688,571
-28.1%
the neighborhood of Bow Mar/Bow Mar South
Average Sale Price
$2,237,439
$1,628,471
-27.2%
increased by 75.0% January through September
94.3%
96.7%
2.6%
2020 compared to that of 2019.
$17,899,511
$22,798,600
27.4%
Number 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
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CHERRY CREEK NORTH January through September Number of Properties Sold
LIV SIR represented the
Average Price per Square Foot
buyer and the seller for the
Average Days on Market
2019
2020
% Change
78
68
-12.8%
$730
$664
-9.0%
47
51
8.5%
highest priced sale in Cherry
Highest Price
$6,742,620
$3,425,000
-49.2%
Creek North for Q3 of 2020.
Average List Price
$1,889,990
$1,719,122
-9.0%
Average Sale Price
$1,859,190
$1,658,796
-10.8%
96.4%
94.6%
-1.8%
$145,016,847
$112,798,148
-22.2%
% Sold Price to List Price Total Dollar Volume
Boundaries: York to Colorado; 1st Avenue to 6th Avenue
CHERRY HILLS VILLAGE January through September
2019
2020
% Change
35
41
17.1%
$481
$551
14.5%
LIV SIR represented the
68
92
35.3%
seller for the highest priced
$8,200,000
$9,000,000
9.8%
sale in Cherry Hills Village (over
Average List Price
$2,801,629
$3,474,378
24.0%
one acre) for Q3 of 2020.
Average Sale Price
$2,661,571
$3,286,691
23.5%
92.0%
92.3%
0.2%
$93,155,000
$134,754,333
44.7%
Number 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
CHERRY HILLS VILLAGE January through September
2019
2020
% Change
44
49
11.4%
$444
$489
10.1%
43
30
-30.2%
Highest Price
$3,689,000
$5,500,000
49.1%
Average List Price
$2,050,409
$1,944,265
-5.2%
Average Sale Price
$1,981,155
$1,909,055
-3.6%
93.4%
96.4%
3.2%
$87,170,815
$93,543,711
7.3%
Number of Properties Sold Average Price per Square Foot
LIV SIR represented the buyer for the highest priced sale in Cherry Hills Village (under one acre) for Q3 of 2020.
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
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COLUMBINE VALLEY January through September
35.8%
2019
2020
% Change
15
24
60.0%
$447
$470
5.1%
57
47
-17.5%
$2,725,000
$3,700,000
35.8%
The highest price sale for luxury properties within
Average List Price
$1,547,420
$1,567,679
1.3%
the neighborhood of Columbine Valley increased
Average Sale Price
$1,498,096
$1,546,116
3.2%
by 35.8% January through September 2020
97.7%
98.3%
0.6%
compared to that of 2019.
$22,471,443
$37,106,776
65.1%
Number 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 September
2019
2020
% Change
13
11
-15.4%
$684
$659
-3.6%
55
77
40.0%
Highest Price
$5,650,000
$4,625,000
-18.1%
Average List Price
$3,038,269
$2,990,818
-1.6%
Average Sale Price
$2,907,592
$2,703,636
-7.0%
93.6%
91.4%
-2.4%
$37,798,697
$29,740,000
-21.3%
Number of Properties Sold
Desirable today for its proximity
Average Price per Square Foot
to downtown, numerous city
Average Days on Market
parks, and the Denver Country Club itself, this neighborhood remains one of the city’s most sought-after locations.
% Sold Price to List Price Total Dollar Volume
Boundaries: University to Downing 1st - 4th; Race to University 4th - 6th
CRESTMOOR January through September
42.9%
2019
2020
% Change
14
20
42.9%
$566
$514
-9.1%
19
29
52.6%
Highest Price
$3,235,000
$3,325,000
2.8%
The number of luxury properties sold within the
Average List Price
$1,943,898
$1,912,200
-1.6%
neighborhood of Crestmoor increased by 42.9%
Average Sale Price
$1,903,122
$1,865,600
-2.0%
January through September 2020 compared to
98.3%
97.2%
-1.1%
that of 2019.
$26,643,708
$37,312,000
40.0%
Number 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 6 Avenue th
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GREENWOOD VILLAGE EAST
56.6%
January through September Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
26
24
-7.7%
$420
$387
-8.1%
76
33
-56.6%
$1,995,000
$2,119,350
6.2%
The average days on market within the
Highest Price
neighborhood of Greenwood Village East
Average List Price
$1,397,184
$1,532,500
9.7%
decreased by 56.6% January through
Average Sale Price
$1,404,541
$1,506,790
7.3%
September 2020 compared to that of 2019.
% Sold Price to List Price
97.7%
97.1%
-0.6%
$36,518,073
$36,162,950
-1.0%
Total Dollar Volume
Boundaries: I-25 to Havana; Belleview to Orchard
GREENWOOD VILLAGE WEST January through September
2019
2020
% Change
15
8
-46.7%
$404
$458
13.4%
LIV SIR represented the
66
44
-33.3%
buyer for the highest
$3,500,000
$3,500,000
0.0%
priced sale in Greenwood
Average List Price
$2,193,867
$2,119,875
-3.4%
Village West (over one
Average Sale Price
$2,094,067
$2,066,631
-1.3%
acre) for Q3 of 2020.
93.7%
92.3%
-1.4%
$31,411,000
$16,533,050
-47.4%
Number 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: Orchard to Belleview; Clarkson to I-25
GREENWOOD VILLAGE WEST January through September
2019
2020
% Change
34
65
91.2%
$412
$459
11.4%
41
41
0.0%
$3,100,000
$3,500,000
12.9%
Average List Price
$1,901,647
$1,899,549
-0.1%
Average Sale Price
$1,842,613
$1,849,129
0.4%
94.9%
96.3%
1.5%
$62,648,830
$120,193,391
91.9%
Number of Properties Sold
LIV SIR represented the seller for the highest priced sale in Greenwood Village West (under one acre) for Q3 of 2020.
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
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HILLTOP January through September
2019
2020
% Change
53
54
1.9%
$450
$526
16.9%
38
56
47.4%
$3,250,000
$3,500,000
7.7%
Average List Price
$1,719,603
$1,927,870
12.1%
Average Sale Price
$1,664,987
$1,865,207
12.0%
94.8%
94.3%
-0.5%
$88,244,292
$100,721,171
14.1%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
12.1%
The average list price for luxury properties within the neighborhood of Hilltop increased by 12.1% January through September 2020 compared to that of 2019.
Boundaries: Alameda to 6th; Colorado to Holly
HUNTINGTON TRAILS/LEXINGTON
The Huntington Trails/
January through September
Lexington area is located
Number of Properties Sold
in the community of
Average Price per Square Foot
Westminster. With a 15
Average Days on Market
minute commute to both
Highest Price
Denver and Boulder, it
Average List Price
makes for a great spot for
Average Sale Price
those looking to relocate
% Sold Price to List Price
to the area.
Total Dollar Volume
2019
2020
% Change
5
6
20.0%
$344
$325
-5.5%
24
32
33.3%
$1,750,000
$1,600,000
-8.6%
$1,491,111
$1,389,650
-6.8%
$1,456,334
$1,321,250
-9.3%
97.5%
93.4%
-4.2%
$7,281,669
$7,927,500
8.9%
Boundaries: Lexington Place to 144th Avenue; McKay Lake to Huron Street
KEN-CARYL NORTH RANCH January through September
2019
2020
% Change
7
9
28.6%
$323
$328
1.5%
59
63
6.8%
$1,385,000
$1,575,000
13.7%
The average sale price for luxury properties within
Average List Price
$1,221,843
$1,278,222
4.6%
the neighborhood of Ken-Caryl North Ranch
Average Sale Price
$1,173,929
$1,256,278
7.0%
increased by 7.0% January through September
93.8%
96.6%
3.0%
2020 compared to that of 2019.
$8,217,500
$11,306,500
37.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
7.0%
Boundaries: Red Fox Lane to North Ranch Road; Golden Eagle Road to Blue Grouse Ridge Road
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MAYFAIR/MONTCLAIR January through September
This community was
2019
2020
% Change
18
29
61.1%
$445
$462
3.9%
33
41
24.2%
$2,255,000
$2,372,000
5.2%
Average List Price
$1,350,194
$1,343,997
-0.5%
Average Sale Price
$1,340,514
$1,337,213
-0.2%
97.4%
99.0%
1.6%
$24,129,250
$38,779,177
60.7%
Number of Properties Sold
originally designed to be a
Average Price per Square Foot
wealthy suburb and to this
Average Days on Market
day still has homes with
Highest Price
a variety of architectural styles such as Tudor, Foursquare, Queen Anne,
% Sold Price to List Price
Ranch, and Cottage.
Total Dollar Volume
Boundaries: Colorado to Quebec; 6th to Colfax
OBSERVATORY PARK January through September
2019
2020
% Change
49
49
0.0%
$447
$469
5.0%
55
43
-21.8%
$2,825,000
$2,870,000
1.6%
Average List Price
$1,676,972
$1,785,120
6.4%
Average Sale Price
$1,622,332
$1,726,439
6.4%
93.8%
95.6%
2.0%
$79,494,272
$84,595,500
6.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
21.8% The average days on market for luxury properties within the neighborhood of Observatory Park decreased by 21.8% January through September 2020 compared to that of 2019.
Boundaries: University to Colorado; Evans to Yale
POLO RESERVE January through September
Polo Reserve is a
Number of Properties Sold
community located in a
Average Price per Square Foot
picturesque, gated, and
Average Days on Market
2019
2020
% Change
2
5
150.0%
$347
$431
24.2%
130
67
-48.5%
secluded community next to
Highest Price
$3,300,000
$3,700,000
12.1%
Cooley Lake and Columbine
Average List Price
$2,622,500
$2,216,800
-15.5%
Polo Club.
Average Sale Price
$2,375,000
$2,165,660
-8.8%
87.4%
94.4%
8.0%
$4,750,000
$10,828,300
128.0%
% 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
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SPRUCE MEADOWS January through September
2019
2020
% Change
4
8
100.0%
$465
$485
4.5%
25
60
140.0%
LIV SIR represented the
Highest Price
$2,425,000
$3,500,000
44.3%
seller for the highest
Average List Price
$2,029,750
$2,311,209
13.9%
Average Sale Price
$1,987,500
$2,287,183
15.1%
97.94%
96.37%
-1.6%
$7,950,000
$18,297,467
130.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
priced sale in Spruce Meadows for Q3 of 2020.
Boundaries: Federal Blvd to Zuni Street; High Prairie Way to 156th Avenue
23.9%
WASHINGTON PARK EAST/CENTRAL January through September Number of Properties Sold Average Price per Square Foot
2019
2020
% Change
71
88
23.9%
$589
$645
9.6%
32
39
21.9%
The number of luxury properties sold within the
Average Days on Market
area of Washington Park East/Central increased by
Highest Price
$5,611,000
$3,425,000
-39.0%
23.9% January through September 2020 compared
Average List Price
$1,725,108
$1,807,919
4.8%
to that of 2019.
Average Sale Price
$1,693,933
$1,764,573
4.2%
95.6%
96.7%
1.2%
$120,269,217
$155,282,400
29.1%
% Sold Price to List Price Total Dollar Volume
Boundaries: Louisiana to Ellsworth, Ogden to University
10
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3120 Bears Den Drive, Sedalia
SOUTH METRO LUXURY MARKET The South Metro luxury home market offers consumers more space than can typically be found near the city with all of the entertainment, outdoor activity, and shopping options. For this reason, the collection of neighborhoods that make up South Metro have become a popular place to invest in luxury properties. Collectively, South Metro saw an 4.2% increase in the number of luxury properties sold and a 0.9% increase in average sold price. These metrics are positive indicators of the market’s strength. Out of the five luxury neighborhoods within the South Metro community, Falcon Hills saw the largest increase in the number of luxury homes sold. This area experienced a 60% rise in luxury home sales, growing from five properties sold through September of 2019 to eight properties sold through September in 2020. Falcon Hills also saw the largest increase in average sold price for luxury homes in the area, increasing by 21.3%.
DOUGLAS COUNTY January through September
2019
2020
% Change
353
368
4.2%
$393
$400
1.7%
72
73
1.4%
$4,595,032
$4,115,000
-10.4%
Average List Price
$1,459,537
$1,465,868
0.4%
Average Sale Price
$1,413,533
$1,426,344
0.9%
95.5%
96.1%
0.6%
$498,977,287
$524,894,762
5.2%
Number 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 proved to be a very popular community in the eyes of consumers through Q3. Homes in this neighborhood saw a 12% decrease in average days on market, with most homes staying on the market for an average of 66 days.
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 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.
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
BACKCOUNTRY January through September
2019
2020
% Change
47
34
-27.7%
$377
$376
-0.3%
21
44
109.5%
Highest Price
$4,595,032
$3,000,000
-34.7%
Average List Price
$1,509,352
$1,380,078
-8.6%
Ranch business parks,
Average Sale Price
$1,486,383
$1,350,121
-9.2%
Denver Tech Center, and
97.1%
96.0%
-1.2%
Inverness.
$69,859,981
$45,904,124
-34.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
BackCountry is just 12 miles south of Denver which puts residents close to the Highlands
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
FALCON HILLS January through September
2019
2020
% Change
5
8
60.0%
$262
$321
22.2%
76
24
-68.4%
Highest Price
$1,225,000
$1,605,000
31.0%
Average List Price
$1,160,000
$1,384,875
19.4%
Average Sale Price
$1,122,672
$1,361,813
21.3%
93.7%
97.4%
3.9%
$5,613,360
$10,894,500
94.1%
Number of Properties Sold Average Price per Square Foot
LIV SIR represented the
Average Days on Market
buyer for the highest priced sale in Falcon Hills for Q3 of 2020.
% Sold Price to List Price Total Dollar Volume
HERITAGE ESTATES January through September
2019
2020
% Change
7
3
-57.1%
$377
$314
-16.9%
Heritage Estates is a
42
105
150.0%
community located in
Highest Price
$2,610,000
$1,700,000
-34.9%
Lone Tree and built around
Average List Price
$2,032,714
$1,464,300
-28.0%
the fairways of the Lone
Average Sale Price
$1,938,571
$1,380,775
-28.8%
Tree Golf Course.
93.2%
89.0%
-4.5%
$13,570,000
$4,142,324
-69.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
12
coloradomarketreports.com
HERITAGE HILLS January through September
6.7%
Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
25
15
-40.0%
$367
$392
6.7%
25
49
96.0%
The average price per square foot for luxury
Highest Price
$1,819,268
$1,989,428
9.4%
properties within the neighborhood of Heritage Hills
Average List Price
$1,375,675
$1,458,558
6.0%
increased by 6.7% January through September
Average Sale Price
$1,350,661
$1,450,242
7.4%
2020 compared to that of 2019.
% Sold Price to List Price
97.6%
97.4%
-0.2%
$33,766,518
$23,203,865
-31.3%
Total Dollar Volume
KEENE RANCH January through September
71.1%
2019
2020
% Change
8
6
-25.0%
$361
$399
10.4%
83
24
-71.1%
$1,500,000
$1,750,000
16.7%
The average days on market for luxury properties
Average List Price
$1,227,500
$1,346,667
9.7%
within the neighborhood of Keene Ranch
Average Sale Price
$1,196,438
$1,314,167
9.8%
decreased by 71.1% January through September
94.6%
97.0%
2.6%
2020 compared to that of 2019.
$9,571,500
$7,885,000
-17.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road
RAVENNA
29.7%
January through September Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
12
16
33.3%
$620
$684
10.3%
185
119
-35.7%
$2,350,000
$3,047,125
29.7%
The highest price sold for luxury properties within the
Highest Price
neighborhood of Ravenna increased by 29.7% January
Average List Price
$1,740,500
$1,971,970
13.3%
through September 2020 compared to that of 2019.
Average Sale Price
$1,690,630
$1,923,170
13.8%
97.1%
100.2%
3.3%
$20,287,554
$30,770,721
51.7%
% Sold Price to List Price Total Dollar Volume
Boundaries: Colorado to Quebec; 6th to Colfax
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
SPIRIT RIDGE January through September
2019
2020
% Change
6
6
0.0%
$325
$313
-3.7%
87
99
13.8%
$1,280,000
$1,875,844
46.6%
The average list price for luxury properties within
Average List Price
$1,214,317
$1,369,050
12.7%
the neighborhood of Spirit Ridge increased
Average Sale Price
$1,149,750
$1,284,724
11.7%
by 12.7% January through September 2020
92.1%
93.6%
1.6%
compared to that of 2019.
$6,898,500
$7,708,344
11.7%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
12.7%
Boundaries: University to Colorado; Evans to Yale
THE VILLAGE AT CASTLE PINES January through September
2019
2020
% Change
68
70
2.9%
$422
$420
-0.4%
75
66
-12.0%
$2,675,000
$3,266,716
22.1%
Average List Price
$1,527,386
$1,541,997
1.0%
Average Sale Price
$1,471,991
$1,490,642
1.3%
96.3%
94.8%
-1.5%
$100,095,359
$104,344,917
4.2%
Number of Properties Sold
LIV SIR represented the
Average Price per Square Foot
buyer for the highest priced
Average Days on Market
sale in The Village at Castle
Highest Price
Pines for Q3 of 2020.
% 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
14
coloradomarketreports.com
4319 Wild Flower Court, Evergreen
FOOTHILLS LUXURY MARKET The Foothills, a community beloved for its nearness to nature and captivating views of the Front Range, made significant improvements in its market performance through Q3 of this year. As a whole, the number of luxury listings sold through September in 2020, compared to the same time period in 2019, grew by an impressive 28.1%, totaling 287 homes. Additionally, the total dollar volume sold increased by 33.2%, bringing the total to $392,858,987 so far this year. Out of the six luxury neighborhoods within the Foothills, Soda Creek and Riva Chase saw the most notable increases in the number of luxury listings sold. In Soda Creek, there were 16 luxury homes sold, a 300% increase compared to January through September of last year. Riva Chase experienced a 200% increase in the number of luxury homes sold, growing from two sales last year to six sales this year.
JEFFERSON COUNTY January through September
2019
2020
% Change
224
287
28.1%
$377
$396
5.0%
70
60
-14.3%
$3,400,000
$3,800,000
11.8%
Average List Price
$1,366,577
$1,414,072
3.5%
Average Sale Price
$1,316,577
$1,368,847
4.0%
94.1%
95.6%
1.6%
Total Dollar Volume $294,913,231 $392,858,987 Average prices in some communities also saw increases thus far in 2020. For example, luxury homes within The Ridge at Hiwan increased in price by 1.4%, bringing the average sold price to $1,219,727.
33.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price
Other neighborhoods in the area saw a decrease in the days on market. Spring Ranch saw a 48.4% drop in the average days on market for luxury homes through Q3. Luxury homes in this area of the Foothills spent an average of 66 days on the market through September.
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 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.
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
GENESEE January through September
64.8%
2019
2020
% Change
13
14
7.7%
$388
$454
17.0%
105
37
-64.8%
$2,150,000
$3,100,000
44.2%
The average days on market for luxury properties
Average List Price
$1,437,769
$1,416,500
-1.5%
within the area of Genesee decreased by 64.8%
Average Sale Price
$1,382,500
$1,370,036
-0.9%
January through September 2020 compared to
92.7%
95.6%
3.1%
that of 2019.
$17,972,500
$19,180,500
6.7%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
HANGEN RANCH January through September Number of Properties Sold
Hangen Ranch is a small
Average Price per Square Foot
neighborhood located in
Average Days on Market
2019
2020
% Change
2
1
-50.0%
$440
$618
40.4%
138
7
-94.9%
South Evergreen, providing
Highest Price
$1,630,000
$1,100,000
-32.5%
a mix of modern, mountain,
Average List Price
$1,500,000
$1,100,000
-26.7%
and farmhouse homes.
Average Sale Price
$1,465,000
$1,100,000
-24.9%
87.4%
100.0%
14.4%
$2,930,000
$1,100,000
-62.5%
% Sold Price to List Price Total Dollar Volume
RIDGE AT HIWAN January through September
2019
2020
% Change
14
11
-21.4%
$326
$346
6.4%
21
66
214.3%
$1,450,000
$1,310,000
-9.7%
Average List Price
$1,229,714
$1,274,364
3.6%
Average Sale Price
$1,203,199
$1,219,727
1.4%
96.9%
93.7%
-3.3%
$16,844,785
$13,417,000
-20.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
16
LIV SIR represented the seller for the highest priced sale in Ridge at Hiwan for Q3 of 2020.
coloradomarketreports.com
RIVA CHASE
200%
January through September Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
2
6
200.0%
$326
$301
-7.6%
108
97
-10.2%
The number of luxury properties sold within the
Highest Price
$1,800,000
$1,370,000
-23.9%
neighborhood of Riva Chase increased by 200.0%
Average List Price
$1,690,000
$1,216,500
-28.0%
January through September 2020 compared to
Average Sale Price
$1,565,000
$1,181,833
-24.5%
that of 2019.
% Sold Price to List Price
80.9%
93.0%
14.9%
$3,130,000
$7,091,000
126.5%
Total Dollar Volume
SODA CREEK January through September
2019
2020
% Change
4
16
300.0%
$401
$405
1.1%
113
141
24.8%
their horses along the
$1,820,000
$3,300,000
81.3%
neighborhood trails or
Average List Price
$1,423,725
$1,856,813
30.4%
outside enjoying their
Average Sale Price
$1,327,500
$1,741,669
31.2%
expansive properties.
89.6%
90.6%
1.1%
$5,310,000
$27,866,700
424.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
In Soda Creek, you can often find residents riding
SPRING RANCH January through September
Located in Golden, you’re
Number of Properties Sold
able to enjoy world-class
Average Price per Square Foot
outdoor recreation, cultural attractions, local charm, and
Average Days on Market Highest Price
2019
2020
% Change
2
4
100.0%
$409
$383
-6.3%
128
66
-48.4%
$2,000,000
$1,675,000
-16.3%
the famous Coors Brewery
Average List Price
$1,722,500
$1,465,375
-14.9%
all within the community of
Average Sale Price
$1,665,000
$1,454,750
-12.6%
89.1%
95.3%
6.9%
$3,330,000
$5,819,000
74.7%
Spring Ranch.
% Sold Price to List Price Total Dollar Volume
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
601 Baseline, Boulder
BOULDER LUXURY MARKET Boulder is the place to be for consumers looking for a community that shares an interest in healthy living and outdoor activities. This colorful collection of neighborhoods at the base of the Flatiron rock formations features luxury real estate that captivates buyers from all over. With more consumers prioritizing access to the outdoors and private spaces, Boulder’s housing market has ourished over the last few months. As a whole, the communities within Boulder County saw a 14% increase in the amount of luxury properties sold through September of this year compared to the same time frame in 2019. Not only did the number of luxury homes sold rise, but those homes sold more quickly than last year as well. The average days on market for luxury homes in Boulder County decreased by 5%, bringing the average days on market to 84 days.
BOULDER COUNTY January through September Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Average Sale Price % Sold Price to List Price
2019
2020
% Change
461
524
13.7%
$459
$478
4.1%
88
84
-4.5%
$7,200,000
$8,000,000
11.1%
$1,661,023
$1,631,013
-1.8%
97.3%
97.3%
0.0%
The City of Boulder experienced one of the largest Total Dollar Volume $765,731,472 $854,651,027 11.6% increases in luxury properties sold through September. This lively community saw a 13% increase in luxury homes sold, growing from 342 homes sold through September in 2019 to 392 homes sold through September in 2020. The Boulder County Plains, a community which includes the neighborhoods of Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates and Spanish Hills, also had a boost in luxury homes sold through Q3, growing by 7.3% to reach a total of 44 luxury homes sold. The stunning University Hill and Chautauqua neighborhoods, which are set against the backdrop of the Flatirons, experienced a rise in average sold prices through September of this year. Luxury homes in this area sold for an average price of $1,899,062, a 2.6% increase from the same time frame within 2019.
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 September 30, 2020. 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
coloradomarketreports.com
BOULDER (CITY) January through September
The city of Boulder sits at
Number of Properties Sold
the top of lists comparing
Average Price per Square Foot
cleanliness, environmental
Average Days on Market
responsibility, and general
Highest Price
quality of life with that of
Average Sale Price
other cities in the country.
% Sold Price to List Price Total Dollar Volume
2019
2020
% Change
348
392
12.6%
$512
$538
5.1%
82
78
-4.9%
$7,200,000
$8,000,000
11.1%
$1,729,201
$1,700,445
-1.7%
97.1%
97.3%
0.2%
$601,762,098
$666,574,578
10.8%
BROOMFIELD January through September
2019
2020
% Change
$1,363,281
$1,433,169
5.1%
37
39
5.4%
$2,500,000
$3,500,000
40.0%
21
34
61.9%
97.9%
97.7%
-0.2%
$28,628,895
$48,727,754
70.2%
Number of Properties Sold Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
40.0%
The highest price sale for luxury properties within Broomfield increased by 40.0% January through September 2020 compared to that of 2019.
BOULDER COUNTY PLAINS With close access to
January through September
2019
2020
% Change
the city of Boulder and
Number of Properties Sold
41
44
7.3%
surrounding areas, the
Average Days on Market
77
116
50.6%
Boulder County Plains
Highest Price
$7,200,000
$2,800,000
-61.1%
$881,682
$591,053
-33.0%
97.5%
97.7%
0.2%
$67,889,504
$68,562,107
1.0%
provide endless views of the Boulder Flatirons.
Average Sale Price % Sold Price to List Price Total Dollar Volume
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
DOWNTOWN BOULDER January through September
2019
2020
% Change
15
13
-13.3%
$867
$841
-3.0%
101
93
-7.9%
$2,495,000
$2,600,000
4.2%
$1,574,920
$1,543,096
-2.0%
96.7%
95.2%
-1.6%
$23,623,800
$20,060,247
-15.1%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
Downtown Boulder is famed for the pedestrianfriendly Pearl Street, which is lined with restaurants, bookstores, boutiques, sidewalk cafes, and plaques that highlight the area’s history.
FOOTHILLS COMMUNITIES
With the city of Boulder
January through September
to the north and the
2019
2020
% Change
11
6
-45.5%
90
37
-58.9%
Highest Price
$5,779,000
$2,247,500
-61.1%
Average Sold Price
$2,170,273
$1,644,667
-24.2%
96.9%
98.1%
1.2%
$23,873,000
$9,868,000
-58.7%
# of Properties Sold
mountains to the west,
Average Days on Market
these communities offer access to some of the finest rock climbing and
% Sold Price to List Price
hiking trails in the state.
Total Dollar Volume
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
UNIVERSITY HILL & CHAUTAUQUA January through September Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
20
45.5%
2019
2020
% Change
43
44
2.3%
$531
$608
14.5%
89
77
-13.5%
The highest price sale for luxury properties within the
$3,900,000
$5,675,000
45.5%
area of University Hill and Chautauqua increased by
$1,850,978
$1,899,062
2.6%
45.5% January through September 2020 compared
96.1%
96.7%
0.6%
to that of 2019.
$79,592,050
$83,558,734
5.0%
coloradomarketreports.com
1814 Vine Cliff Heights, Colorado Springs
COLORADO SPRINGS
LUXURY MARKET
South of Denver lies Colorado’s second-largest city, Colorado Springs. This community has recently 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 seen an immense increase in luxury real estate activity. When looking at the luxury market within El Paso and Teller County through Q3 of 2020, it is evident that the demand for homes in the area has grown exponentially. The number of luxury homes sold through September increased by 74.4% compared to the same time frame last year. This increase in sold listings resulted in a 72.3% in the overall total dollar volume sold, bringing it to $181,658,192.
EL PASO & TELLER COUNTY January through September
2019
2020
% Change
78
136
74.4%
$237
$222
-6.3%
99
71
-28.3%
$2,900,000
$6,700,000
131.0%
Average List Price
$1,423,706
$1,404,327
-1.4%
Average Sale Price
$1,351,981
$1,335,722
-1.2%
96.1%
96.5%
0.4%
$105,454,518
$181,658,192
72.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
The Colorado Springs community of Black Forest saw a drastic increase in luxury home sales through Q3 of this year. There were 72.7% more luxury home sales in this area so far in 2020 (40) than there were January through September of 2019 (14).
% Sold Price to List Price Total Dollar Volume
Not only did Black Forest see the most luxury home sales, but it also saw the highest-priced sale in the area through Q3. The $6,700,000 sale of a beautiful ranch-style estate in this community, which was represented by LIV Sotheby’s International Realty, raised the highest-priced sale metric by an impressive 294.7%. In Monument, average luxury home prices increased slightly due to the demand for properties in this sought-after community. Through September, the average price for a luxury home in Monument was $1,248,496, a 6.8% rise from last year. A decrease in days on market helps illustrate how quickly homes within an area are selling, often indicating increased demand. The Broadmoor neighborhood experienced a 40.9% drop in average days on market for luxury homes, lowering the time these properties spent on the market from 137 days through Q3 in 2019 to 81 days through Q3 of this year. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period October 1, 2018 through October 7, 2020. 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.
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
BLACK FOREST January through September
2019
2020
% Change
14
40
185.7%
$239
$229
-4.2%
89
96
7.9%
Highest Price
$1,697,500
$6,700,000
294.7%
Average List Price
$1,423,706
$1,404,327
-1.4%
Average Sale Price
$1,252,768
$2,064,775
64.8%
95.2%
96.9%
1.8%
$17,538,752
$82,591,000
370.9%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
LIV SIR respresented the seller for the highest priced sale in Black Forest for Q3 of 2020.
BROADMOOR
40.9%
The average days on market for luxury properties within the Broadmoor area decreased by 40.9% January through September 2020 compared to
January through September
2019
2020
% Change
16
30
87.5%
$233
$216
-7.3%
137
81
-40.9%
$2,900,000
$2,750,000
-5.2%
Average List Price
$1,671,675
$2,207,879
32.1%
Average Sale Price
$1,576,844
$1,417,784
-10.1%
92.3%
94.6%
2.5%
$25,229,504
$42,533,520
68.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price
that of 2019.
Total Dollar Volume
KISSING CAMELS January through September
2019
2020
% Change
8
11
37.5%
Kissing Camels sits on a mesa
$213
$232
8.9%
surrounding 27 holes of private
97
33
-66.0%
golf course. Staggering views
$1,950,000
$1,639,500
-15.9%
of Garden of the Gods and
Average List Price
$1,461,238
$1,478,750
1.2%
Pikes Peak are found from
Average Sale Price
$1,383,226
$1,221,591
-11.7%
97.5%
96.8%
-0.7%
$11,065,808
$13,437,501
21.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
17.0% The average list price for luxury properties within Monument increased by 17.0% January through September 2020 compared to that of 2019.
January through September
MONUMENT 2019
2020
% Change
11
19
72.7%
$215
$206
-4.2%
42
42
0.0%
$1,900,000
$2,500,000
31.6%
Average List Price
$1,118,149
$1,308,500
17.0%
Average Sale Price
$1,169,134
$1,248,496
6.8%
100.5%
98.9%
-1.6%
$12,860,474
$23,721,424
84.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
22
almost every acre.
coloradomarketreports.com
38 Grey Jay Lane, Breckenridge
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. Following the slow down in the spring, Summit County has had a boom in buying activity that has strengthened the market.
SUMMIT COUNTY
Overall Summit County has seen a 48.4% increase in the number of luxury homes sold through September of this year compared to the same time period in 2019. This surge in luxury home sales has contributed to the incredible 27.1% boost in total sales volume, totaling $261,800,317 so far this year.
January through September
2019
2020
% Change
64
95
48.4%
$660
$603
-8.6%
164
132
-19.5%
$10,100,000
$7,000,000
-30.7%
Average List Price
$3,368,188
$2,889,865
-14.2%
Average Sale Price
$3,219,675
$2,755,793
-14.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price 96.4% 95.8% The world-famous ski town of Breckenridge Total Dollar Volume $206,059,197 $261,800,317 experienced a 48.9% rise in the number of luxury single family homes sold through Q3 of this year. The neighboring resort communities of Keystone and Copper Mountain also saw notable increases in luxury property sales, growing by 66.7% and 50% respectively.
-0.7% 27.1%
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®. 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.
RESIDENTIAL LUXURY REPORT + $2,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
BRECKENRIDGE January through September
2019
2020
% Change
45
67
48.9%
$638
$602
-5.7%
185
144
-22.2%
$10,100,000
$7,000,000
-30.7%
The number of luxury properties sold within
Average List Price
$3,675,267
$3,022,627
-17.8%
Breckenridge increased by 48.9% January through
Average Sale Price
$3,474,998
$2,870,970
-17.4%
September 2020 compared to that of 2019.
95.3%
95.4%
0.2%
$176,435,489
$213,069,972
20.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
48.9%
Single Family Homes
COPPER MOUNTAIN January through September Number of Properties Sold Average Price per Square Foot
Copper Mountain is home
2019
2020
% Change
2
3
50.0%
$547
$602
9.9%
385
166
-56.9%
to the U.S. Ski Team Speed
Average Days on Market
Center, which provides elite
Highest Price
$3,380,000
$3,600,000
6.5%
training for the best Alpine ski
Average List Price
$3,270,000
$3,340,000
2.1%
racers in the world.
Average Sale Price
$3,215,000
$3,200,000
-0.5%
98.3%
95.8%
-2.5%
$6,430,000
$9,600,000
49.3%
% Sold Price to List Price Total Dollar Volume
Single Family Homes
KEYSTONE January through September
2019
2020
% Change
3
5
66.7%
$591
$526
-11.1%
104
56
-46.2%
$3,450,000
$2,590,000
-24.9%
Average List Price
$3,016,667
$2,313,800
-23.3%
within Keystone decreased by 46.2% January
Average Sale Price
$3,204,903
$2,208,000
-31.1%
through September 2020 compared to that of 2019.
106.8%
95.5%
-10.6%
$9,614,708
$11,040,000
14.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
46.2%
The average days on market for luxury properties
Single Family Homes
24
coloradomarketreports.com
93 Hidden Mine Lane, Crested Butte
CRESTED BUTTE LUXURY MARKET Crested Butte’s mountain lifestyle and breathtaking views make it an obvious choice for consumers looking to truly experience Colorado. This community within Gunnison County has seen a 21.4% increase in the number of luxury properties sold so far this year compared to the same time frame in 2019. This rise in luxury property sales has contributed to the increase in total sales volume which reached $47,950,775 through September. Luxury single family home sales in the Town of Crested Butte rose by 40%, increasing from five sales to seven sales over the course of a year. Mt. Crested Butte doubled its home sales, selling two luxury homes so far this year in comparison to the one home sold through September of last year. The towns serve as mountain escapes for those looking to live somewhere extraordinary. As space and access to the outdoors becomes more important to buyers, the real estate market in Crested Butte and the wonderful communities that surround it will continue to strengthen.
GUNNISON COUNTY January through September
2019
2020
% Change
14
17
21.4%
$732
$723
-1.2%
166
278
67.5%
Highest Price
$5,300,000
$5,150,000
-2.8%
Average List Price
$3,378,928
$3,331,705
-1.4%
Average Sale Price
$2,930,464
$2,820,633
-3.7%
86.7%
88.7%
2.3%
$41,026,500
$47,950,775
16.9%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
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). 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.
RESIDENTIAL LUXURY REPORT + $2,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
MT. CRESTED BUTTE January through September
2019
2020
% Change
1
2
100.0%
$393
$511
30.0%
LIV SIR respresented
82
504
514.6%
the buyer for the highest
$2,170,000
$2,100,000
-3.2%
priced sale in Mt. Crested
Average List Price
$2,300,000
$2,375,000
3.3%
Butte for Q3 of 2020.
Average Sale Price
$2,170,000
$2,100,000
-3.2%
94.3%
88.4%
-6.3%
$2,170,000
$4,200,000
93.5%
Number 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
40.0%
The number of luxury properties sold within the
Town of Crested Butte increased by 40.0% January through September 2020 compared to that of 2019.
TOWN OF CRESTED BUTTE January through September
2019
2020
% Change
5
7
40.0%
$897
$831
-7.3%
226
224
-0.9%
Highest Price
$4,461,500
$3,363,150
-24.6%
Average List Price
$3,308,000
$2,669,285
-19.3%
Average Sale Price
$3,182,300
$2,515,110
-21.0%
96.2%
94.2%
-2.1%
$15,911,500
$17,605,775
10.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Single Family Homes
26
coloradomarketreports.com
587 Paintbrush, Avon
VAIL VALLEY LUXURY MARKET The Vail Valley has quickly become one of the most highly sought-after destinations in the country. This luxury real estate market offers residents the best in resort and mountain living. Through September of this year, the Vail Valley saw an amazing 43.8% increase in the number of luxury listings sold. In addition to this impressive rise in sales, the highest-priced sale so far this year was 43.4% higher than the highest-priced sale that took place through Q3 of 2019. The $29,750,000 sale, in which LIV Sotheby’s January through September 2019 2020 % Change International Realty represented the buyer, played Number of Properties Sold 73 105 43.8% a role in the community’s 62.7% increase in total Average Price per Square Foot $1,207 $1,296 7.4% sales volume.
EAGLE COUNTY
Average Days on Market
Highest Price Mountain Star, an exclusive and luxurious Average List Price community within the Vail Valley, saw the most dramatic increase in the number of luxury Average Sale Price properties sold through September of this year, % Sold Price to List Price rising from one home sold through Q3 of last year to Total Dollar Volume four homes sold so far this year, a 300% increase. Vail Village and Bachelor Gulch also experienced notable increase in luxury home sales, growing by 100% and 233.3% respectively.
314
285
-9.2%
$20,750,000
$29,750,000
43.4%
$6,327,096
$7,078,800
11.9%
$5,837,191
$6,603,707
13.1%
93.4%
93.8%
0.4%
$426,114,954
$693,389,305
62.7%
Average luxury home prices in this community rose within several neighborhoods. Luxury single family homes in Beaver Creek increased in average sold price by 42.8%, bringing the average sold price to $6,947,500. Many communities have seen decreases in the average time luxury homes are spending on the market due to the amount of demand there is for homes in the Vail Valley. Luxury homes within Vail Golf Course and Spraddle Creek spent an average of 37 days on market through September of this year compared to the same time frame last year, a 84.1% difference. 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®. 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.
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
ARROWHEAD January through September
2019
2020
% Change
7
10
42.9%
Considered the western
$791
$679
-14.2%
gateway to Beaver Creek
198
364
83.8%
Mountain, Arrowhead
Highest Price
$9,300,000
$13,500,000
45.2%
is said to be one of the
Average List Price
$5,046,429
$5,143,400
1.9%
best-kept secrets in
Average Sale Price
$4,777,142
$4,793,800
0.3%
the Colorado Rocky
94.8%
93.3%
-1.6%
Mountains.
$33,440,000
$47,938,000
43.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume Single Family Homes
BACHELOR GULCH January through September
2019
2020
% Change
3
10
233.3%
$955
$933
-2.3%
148
297
100.7%
$10,200,000
$12,995,000
27.4%
Average List Price
$7,665,000
$7,856,500
2.5%
Average Sale Price
$7,565,000
$7,381,750
-2.4%
98.7%
93.6%
-5.2%
$22,695,000
$73,817,500
225.3%
Number of Properties Sold
Bachelor Gulch is a
Average Price per Square Foot
secluded community,
Average Days on Market
just west of Beaver Creek
Highest Price
Resort, providing ski-in/ ski-out homes to enjoy.
% Sold Price to List Price Total Dollar Volume
Single Family Homes
BEAVER CREEK January through September
2019
2020
% Change
3
4
33.3%
$723
$910
25.9%
457
182
-60.2%
$6,950,000
$12,375,000
78.1%
Average List Price
$5,161,667
$7,320,000
41.8%
Average Sale Price
$4,866,666
$6,947,500
42.8%
94.8%
96.1%
1.3%
$14,600,000
$27,790,000
90.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
LIV SIR represented the seller for the highest priced sale in Beaver Creek for Q3 of 2020.
Single Family Homes
28
coloradomarketreports.com
LIONSHEAD January through September
125%
Number of Properties Sold Average Price per Square Foot Average Days on Market
The number of luxury properties sold within the area
Highest Price
of Lionshead increased by 125.0% January through
Average List Price
September 2020 compared to that of 2019.
Average Sale Price % Sold Price to List Price Total Dollar Volume
2019
2020
% Change
4
9
125.0%
$1,836
$1,715
-6.6%
184
299
62.5%
$8,500,000
$6,700,000
-21.2%
$5,111,250
$4,786,667
-6.4%
$4,850,000
$4,646,666
-4.2%
96.0%
97.2%
1.2%
$19,400,000
$41,820,000
115.6% All Properties
MOUNTAIN STAR January through September
2019
2020
% Change
1
4
300.0%
$538
$762
41.6%
609
230
-62.2%
Highest Price
$3,045,000
$8,530,000
180.1%
Average List Price
$3,495,000
$6,510,000
86.3%
Average Sale Price
$3,045,000
$6,010,000
97.4%
87.1%
93.3%
7.1%
$3,045,000
$24,040,000
689.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
97.4% The average sale price for luxury properties within Mountain Star increased by 97.4% January through September 2020 compared to that of 2019.
VAIL VILLAGE January through September
Surrounding the base of Gondola One, Vail Village provides easy access to world-class skiing on Vail
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
2019
2020
% Change
12
24
100.0%
$2,123
$2,519
18.7%
616
358
-41.9%
$19,000,000
$29,750,000
56.6%
Mountain’s 5,289 acres of
Average List Price
$8,054,167
$13,144,750
63.2%
skiable terrain.
Average Sale Price
$7,565,625
$12,021,195
58.9%
93.4%
90.5%
-3.1%
$90,787,500
$288,508,680
217.8%
% Sold Price to List Price Total Dollar Volume
All Properties
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
VAIL GOLF COURSE/ SPRADDLE CREEK January through September
2019
2020
% Change
9
2
-77.8%
$1,521
$2,328
53.1%
232
37
-84.1%
$17,250,000
$11,950,000
-30.7%
Average List Price
$9,925,000
$10,225,000
3.0%
Average Sale Price
$8,565,643
$9,975,000
16.5%
88.3%
97.1%
9.9%
$77,090,788
$19,950,000
-74.1%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
LIV SIR represented both the buyer and the seller for the highest priced sale in Vail Golf Course/Spraddle Creek for Q3 of 2020.
TOWN OF VAIL
21.3%
January through September Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
37
50
35.1%
$1,612
$1,850
14.8%
341
297
-12.9%
$20,750,000
$29,750,000
43.4%
The average sale price for luxury properties within
Highest Price
the Town of Vail increased by 21.3% January through
Average List Price
$7,372,162
$8,824,680
19.7%
September 2020 compared to that of 2019.
Average Sale Price
$6,768,251
$8,210,506
21.3%
92.9%
93.6%
0.8%
$250,425,288
$410,525,305
63.9%
% Sold Price to List Price Total Dollar Volume
All Properties
30
coloradomarketreports.com
135 Polecat Lane, Mountain Village
TELLURIDE LUXURY MARKET The historic mining town of Telluride boasts some of the best views in all of Colorado. Here, luxury homes are complemented by the stunning natural surroundings, creating a one-of-a-kind mountain living experience. Overall, San Miguel County, which is home to Telluride and surrounding communities, experienced an impressive 266.7% increase in the number of luxury homes sold through September in 2020 compared to the same time frame in 2019. What’s even more amazing is that this surge in home buying resulted in a 267% rise in total dollar volume sold through Q3 of this year compared to 2019. So far this year, total dollar volume sold in San Miguel County reached $321,043,743.
SAN MIGUEL COUNTY January through September
2019
2020
% Change
18
66
266.7%
$1,091
$1,199
9.9%
687
449
-34.6%
$8,400,000
$13,250,000
57.7%
Average List Price
$5,397,583
$5,178,877
-4.1%
Average Sale Price
$4,859,583
$4,864,299
0.1%
92.0%
94.0%
2.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price
The Town of Telluride experienced a 375% rise in Total Dollar Volume $87,472,500 $321,043,743 267.0% the number of luxury residential properties sold through September of this year (38) compared to the same time period of last year (8). This rise in luxury listings sold created an 370.3% boost in the total dollar volume sold. The Town of Telluride’s total dollar volume sold within the luxury residential real estate market reached $181,915,350 so far this year. In Mountain Village, luxury residential sales grew by 187.5%, from eight listings sold through September in 2019 to 23 listings sold through September of 2020. Total dollar volume sold in Mountain Village increased by 192.1% through Q3 in 2020 compared to the same time period in 2019, bringing the total dollar volume sold to $108,628,393.
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®. 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.
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - SEPTEMBER 2020 • COLORADOMARKETREPORTS.COM
MOUNTAIN VILLAGE January through September
2019
2020
% Change
8
23
187.5%
$783
$815
4.2%
952
357
-62.5%
Highest Price
$6,550,000
$7,900,000
20.6%
Average List Price
$5,393,750
$4,941,474
-8.4%
within Mountain Village decreased by 62.5% January
Average Sale Price
$4,649,375
$4,722,974
1.6%
through September 2020 compared to that of 2019.
89.0%
96.0%
7.9%
$37,195,000
$108,628,393
192.1%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
62.5%
The average days on market for luxury properties
All Properties
TOWN OF TELLURIDE January through September
375%
Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
8
38
375.0%
$1,221
$1,473
20.6%
529
531
0.4%
The number of luxury properties sold within the Town
Highest Price
$7,625,000
$11,200,000
46.9%
of Telluride increased by 375.0% January through
Average List Price
$5,168,750
$5,168,868
0.0%
September 2020 compared to that of 2019.
Average Sale Price
$4,834,688
$4,787,246
-1.0%
94.9%
94.0%
-0.9%
$38,677,500
$181,915,350
370.3%
% Sold Price to List Price Total Dollar Volume
All Properties
SURROUNDING NEIGHBORHOODS January through September
2019
2020
% Change
2
4
100.0%
$1,055
$1,001
-5.2%
260
83
-68.1%
Highest Price
$8,400,000
$13,250,000
57.7%
The highest price sale for luxury properties within the
Average List Price
$6,325,000
$7,058,750
11.6%
surrounding neighborhoods of Telluride increased by
Average Sale Price
$5,800,000
$6,912,500
19.2%
57.7% January through September 2020 compared
91.7%
97.0%
5.8%
to that of 2019.
$11,600,000
$27,650,000
138.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
57.7%
Aldasoro Ranch, Elk Run, GrayHead, Idarado Legacy, Raspberry Patch, Ski Ranches, The Preserve, and West Meadows)
32
coloradomarketreports.com
For those who have a vision Your home is more than a building or an address. It’s where you experience life, family, connection, and growth. Your home should be as exceptional as you are, and as you are going to be. For a lifestyle inspired by your potential, there is only LIV Sotheby’s International Realty.
livsothebysrealty.com | 3696 65th Ave Evans, Colorado 80634
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