Q3 2023 Market Report - Front Range

Q3 2023

Quarterly Market Report

COLORADO’S FRONT RANGE

Welcome

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 we follow the market to see how it will develop towards the end of the year, the Colorado Front Range is still experiencing relatively steady levels of home buying and selling. The number of homes sold across the state decreased in comparison to the previous year, however, median home prices have only slightly shifted year-overyear. Interest rates seem to have plateaued, and homes continue to sell for list price, with

a slight decrease in price adjustments over last year. 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.

FRONT RANGE REAL ESTATE MARKET

Greater Denver Metro

As 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 communities 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.

Jan - Sept 2023

Median Sold Price

$575,000 -2.5%

Properties Sold 33,038 -26.0%

Average Days on Market 30 46.7%

Average Price per Sq. Ft. $305 -3.0%

% Sold Price, to List Price 99.3% -1.7%

Counties: Arapahoe, Adams, Denver, Broomfield, Douglas, and Jefferson. All residential properties.

Total Sales Volume - 26.9% 2022 vs 2023 % Change

$22,270,669,765

$9,250,000 Highest Sold Price

Denver Metro

$550,000 Median Sold Price

19,889 Properties Sold

% Change

30 Average Days on Market

$339 Price Per Square Foot

South Metro

$700,000 Median Sold Price

4,368 Properties Sold

-27.6%

YTD 2022 vs 2023

37 Average Days on Market

-1.7% YTD 2022 vs 2023 % Change +48.6%

West Metro & Foothills

5,351 Properties Sold 27 Average Days on Market

$341 Price Per Square Foot

Boulder County is filled with communities that offer a variety of lifestyles and opportunities for home buyers to create their desired environment. 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

Volume - 24.7% 2022 vs 2023 % Change

$2,751,700,030

$13,000,000 Highest Sold Price

Boulder

$725,000 Median Sold Price

2,916 Properties Sold

54 Average Days on Market

2022 vs 2023 % Change +29.6%

-20.8% YTD 2022 vs 2023 % Change -0.7% YTD

Northern Colorado

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 Northern Colorado.

Jan - Sept 2023 % Change

YTD 2022 vs 2023

Median Sold Price $537,000 0.4%

Properties Sold 5,999 -36.4%

Average Days on Market 38 50.0%

Average Price per Sq. Ft. $282 -19.1%

% Sold Price, to List Price 99.4% -1.4%

Cities: Fort Collins, Loveland, Greeley, Berthoud, Windsor, Johnstown, and Timnath. All residential properties.

Sales Volume - 33.7% 2022 vs 2023 % Change

$3,678,263,948

$16,000,000 Highest Sold Price

$537,000 Median Sold Price

5,999 Properties Sold

38 Average Days on Market

$282 Price Per Square Foot

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.

Sales Volume - 36.7% 2022 vs 2023 % Change

$4,844,153,198

$3,955,000 Highest Sold Price

Inspiring people to LIV the life they love.

© 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.