COLORADO RESIDENTIAL LUXURY REPORT Year End 2020
1
coloradomarketreports.com
RESIDENTIAL LUXURY REPORT INTRODUCTION
As far as real estate is concerned, 2020 was a rollercoaster with surprising ups and downs. However, in the end, Colorado’s one-of-a-kind lifestyle, stunning homes, and natural scenery helped the real estate market come out on top, yielding some of the most impressive increases in market activity seen in the past five years. With more consumers focusing on finding residences that enhance their overall lifestyles, communities across the state saw surges in home buying and selling that wrapped the year up on a good note. LIV Sotheby’s International Realty, Colorado’s leading luxury real estate brokerage, produces a year-end Residential Luxury Report comparing real estate performance last year to 2019 in some of Colorado’s most popular communities. This report analyzes the luxury market for single family homes and condos for Denver Metro ($1 million+), South Metro ($1 million+), Foothills ($1 million+), Boulder Valley ($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 Valley
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: 692 Mountain Village Blvd, Mountain Village
15
Foothills
South Metro
$1 million+
P.
11
P.
23
Summit County $2 million+
P.
31
Telluride $3 million+
coloradomarketreports.com
2605 18th Street, Denver
DENVER METRO LUXURY MARKET Named the second-best city to live in the country by U.S. News and World Report, Denver Metro is a hub for homebuying in the West. Bringing together the best qualities of urban dwellings with outdoor amenities, this market has benefited from the shifting preferences of consumers, who seem to be prioritizing lifestyle-focused communities as a result of the pandemic. This trend can be seen by taking a look at the impressive 35.8% increase in the number of luxury listings sold in 2020, compared to 2019. The increased demand for luxury homes in Denver Metro contributed to a 1.1% rise in average sale prices for listings in the area, bringing the average sale price to $1,549,686 in 2020. Homebuyers looking for listings in this luxury market moved much quicker last year than they did in 2019, resulting in a 32.9% decrease in average days on market. Luxury listings in Denver Metro stayed on the market for an average of just 53 days in 2020. Overall, the total dollar volume sold in Denver Metro reached $4,455,348,046, a notable 37.7% increase from 2019. Several neighborhoods in Denver Metro grew immensely in popularity with homebuyers, increasing luxury home sales by more than 100% last year. One of the most significant increases in luxury listing sales was seen in the Mayfair and Montclair neighborhood, where luxury home sales grew by 133.3%, from 21 sales in 2019 to 49 sales in 2020. The City of Denver also saw an upward trend in luxury sales, rising 29.7% from 953 listings sold in 2019 to 1,236 listings sold last year.
DENVER METRO January through December
2019
2020
% Change
# of Properties Sold
2,117
2,875
35.8%
Average Price per Square Foot
$462
$469
1.6%
79
53
-32.9%
$11,625,000
$9,450,000
-18.7%
Average List Price
$1,583,856
$1,589,809
0.4%
Average Sale Price
$1,533,220
$1,549,686
1.1%
95.1%
96.5%
1.4%
$3,236,136,940
$4,455,348,046
37.7%
Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas, Jefferson
Average sale prices for luxury homes in select Denver Metro neighborhoods rose from 2019 to 2020. For example, Washington Park East and Central, a neighborhood known for its access to public green spaces, saw luxury home prices increase by 6.1%, bringing the average sale price to $1,782,178. Greenwood Village East also experienced appreciation in its luxury home prices, growing by 3% in 2020. Limited inventory of available luxury homes has motivated buyers to purchase homes quicker. For instance, luxury homes in the City of Denver spent an average of 45.5% less time on the market this year, which equals an average of 42 days spent on the market. 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 January 8, 2021. 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 - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
DENVER (CITY) January through December
2019
2020
% Change
953
1,236
29.7%
$535
$538
0.6%
77
42
-45.5%
seller for the highest priced
$10,750,000
$8,000,000
-25.6%
sale in the city of Denver for
Average List Price
$1,612,005
$1,691,257
4.9%
Average Sale Price
$1,567,953
$1,564,014
-0.3%
95.5%
96.6%
1.2%
$1,494,258,767
$1,933,120,876
29.4%
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
Q4 of 2020.
Boundaries: City of Denver
BONNIE BRAE/BELCARO
57.6%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
33
52
57.6%
$590
$577
-2.1%
55
39
-29.1%
$4,875,000
$3,875,000
-20.5%
The number of luxury listings sold within
Highest Price
the area of Bonnie Brae/Belcaro increased
Average List Price
$1,802,179
$1,710,661
-5.1%
by 57.6% January through December 2020
Average Sale Price
$1,759,645
$1,676,445
-4.7%
compared to that of 2019.
% Sold Price to List Price
94.4%
95.5%
1.1%
$58,068,271
$87,175,130
50.1%
Total Dollar Volume
Boundaries: Mississippi to Cherry Creek Drive South; University to Colorado
BOW MAR/BOW MAR SOUTH January through December
22.7%
2019
2020
% Change
9
20
122.2%
$518
$514
-0.7%
66
51
-22.7%
$3,250,000
$2,922,800
-10.1%
The average days on market for luxury properties
Average List Price
$2,219,778
$1,699,875
-23.4%
within the area of Bow Mar/Bow Mar South
Average Sale Price
$2,122,168
$1,646,680
-22.4%
decreased by 22.7% January through December
94.9%
95.8%
1.0%
2020 compared to that of 2019.
$19,099,511
$32,933,600
72.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
Boundaries: West Quincy Avenue to West Bowles Avenue
4
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CHERRY CREEK NORTH January through December
2019
2020
% Change
121
97
-19.8%
$740
$667
-9.9%
45
49
8.9%
Highest Price
$6,742,620
$4,015,000
-40.5%
Average List Price
$1,869,997
$1,817,968
-2.8%
Average Sale Price
$1,834,628
$1,742,441
-5.0%
96.0%
94.2%
-1.9%
$221,990,023
$169,016,821
-23.9%
Number of Properties Sold
LIV SIR represented the
Average Price per Square Foot
buyer for the highest priced
Average Days on Market
sale in Cherry Creek North for Q4 of 2020.
% Sold Price to List Price Total Dollar Volume
Boundaries: York to Colorado; 1st Avenue to 6th Avenue
CHERRY HILLS VILLAGE January through December
2019
2020
% Change
44
55
25.0%
$498
$593
19.0%
LIV SIR represented the
100
104
4.0%
seller for the highest priced
$11,625,000
$9,450,000
-18.7%
Average List Price
$3,306,955
$3,392,064
2.6%
Average Sale Price
$3,107,796
$3,237,613
4.2%
91.4%
93.0%
1.8%
$136,743,000
$178,068,733
30.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
sale in Cherry Hills Village (over one acre) for Q4 of 2020.
(Over 1 Acre) Boundaries: Hampden to Belleview; Clarkson to Happy Canyon Road and Charlou
CHERRY HILLS VILLAGE January through December
2019
2020
% Change
64
71
10.9%
$445
$490
10.1%
44
27
-38.6%
Highest Price
$3,689,000
$5,500,000
49.1%
Average List Price
$1,980,094
$2,029,232
2.5%
Average Sale Price
$1,908,902
$1,990,566
4.3%
93.2%
96.3%
3.3%
$122,169,750
$141,330,211
15.7%
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 Q4 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
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
COLUMBINE VALLEY January through December
88.2%
2019
2020
% Change
17
32
88.2%
$437
$474
8.4%
65
61
-6.2%
Highest Price
$2,725,000
$3,700,000
35.8%
The number of luxury listings sold within the
Average List Price
$1,526,782
$1,527,634
0.1%
neighborhood of Columbine Valley increased
Average Sale Price
$1,477,332
$1,504,676
1.9%
by 88.2% January through December 2020
96.4%
97.5%
1.2%
compared to that of 2019.
$25,114,643
$48,149,616
91.7%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: South Polo Ridge Drive to West Bowles; Platte Canyon Road to South Platte River
COUNTRY CLUB
20.4% The highest priced sale of luxury homes within the area of Country Club increased by 20.4% January through December 2020 compared to that of 2019.
January through December
2019
2020
% Change
14
17
21.4%
$675
$711
5.3%
69
62
-10.1%
Highest Price
$5,650,000
$6,800,000
20.4%
Average List Price
$2,980,179
$3,665,529
23.0%
Average Sale Price
$2,845,978
$3,437,941
20.8%
92.9%
93.3%
0.4%
$39,843,697
$58,445,000
46.7%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
Boundaries: University to Downing 1st - 4th; Race to University 4th - 6th
CRESTMOOR January through December
42.9%
2019
2020
% Change
21
30
42.9%
$550
$501
-9.1%
39
40
2.6%
$3,235,000
$3,355,000
3.7%
The number of luxury listings sold within the area
Average List Price
$1,875,218
$2,045,533
9.1%
of Crestmoor increased by 42.9% January through
Average Sale Price
$1,836,538
$1,959,870
6.7%
December 2020 compared to that of 2019.
97.5%
95.1%
-2.5%
$38,567,308
$58,796,100
52.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume Boundaries: Holly to Monaco; Bayaud to 6 Avenue th
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GREENWOOD VILLAGE EAST
61.6%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
30
31
3.3%
$433
$414
-4.5%
73
28
-61.6%
$2,250,000
$2,119,350
-5.8%
The average days on market for luxury properties
Highest Price
within the neighborhood of Greenwood Village
Average List Price
$1,424,493
$1,509,193
5.9%
East decreased by 61.6% January through
Average Sale Price
$1,446,091
$1,489,244
3.0%
December 2020 compared to that of 2019.
% Sold Price to List Price
98.7%
97.7%
-1.0%
$43,382,733
$46,166,550
6.4%
Total Dollar Volume
Boundaries: I-25 to Havana; Belleview to Orchard
GREENWOOD VILLAGE WEST January through December
17.6%
2019
2020
% Change
22
16
-27.3%
$457
$482
5.4%
64
46
-28.1%
$6,500,000
$4,000,000
-38.5%
The average sale price of luxury homes within
Average List Price
$2,230,091
$2,517,125
12.9%
the neighborhood of Greenwood Village West
Average Sale Price
$2,120,773
$2,494,724
17.6%
increased by 17.6% January through December
93.2%
95.7%
2.7%
2020 compared to that of 2019.
$46,657,000
$39,915,582
-14.4%
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 December
2019
2020
% Change
46
90
95.7%
$431
$469
8.9%
58
42
-27.6%
Highest Price
$3,125,000
$3,998,000
27.9%
Average List Price
$1,855,196
$1,944,341
4.8%
Average Sale Price
$1,802,490
$1,901,288
5.5%
95.7%
96.5%
0.8%
$82,914,532
$171,115,891
106.4%
Number of Properties Sold
LIV SIR represented the buyer for the highest priced sale in Greenwood Village West (under one acre) for Q4 of 2020.
Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
(Under 1 Acre) Boundaries: Orchard to Belleview; Clarkson to I-25
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
HILLTOP January through December
2019
2020
% Change
68
82
20.6%
$461
$525
13.9%
46
58
26.1%
$3,500,000
$3,900,000
11.4%
Average List Price
$1,740,543
$1,956,524
12.4%
Average Sale Price
$1,681,828
$1,894,398
12.6%
94.4%
94.0%
-0.4%
$114,364,292
$155,340,671
35.8%
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 buyer for the highest priced sale in Hilltop for Q4 of 2020.
Boundaries: Alameda to 6th; Colorado to Holly
HUNTINGTON TRAILS/LEXINGTON January through December
2019
2020
% Change
7
9
28.6%
$352
$346
-1.7%
46
37
-19.6%
Highest Price
$1,750,000
$2,700,000
54.3%
Average List Price
$1,456,508
$1,495,989
2.7%
Average Sale Price
$1,415,096
$1,450,833
2.5%
96.1%
93.1%
-3.2%
$9,905,669
$13,057,500
31.8%
Number of Properties Sold
LIV SIR represented the
Average Price per Square Foot
seller for the highest priced
Average Days on Market
sale in Huntington Trails/ Lexington for Q4 of 2020.
% Sold Price to List Price Total Dollar Volume
Boundaries: Lexington Place to 144th Avenue; McKay Lake to Huron Street
KEN-CARYL NORTH RANCH January through December
2019
2020
% Change
8
15
87.5%
$322
$332
3.3%
64
51
-20.3%
Highest Price
$1,385,000
$1,575,000
13.7%
The highest priced sale of luxury homes within the
Average List Price
$1,223,988
$1,298,800
6.1%
neighborhood of Ken-Caryl North Ranch increased
Average Sale Price
$1,177,188
$1,275,700
8.4%
by 13.7% January through December 2020
94.2%
96.4%
2.3%
compared to that of 2019.
$9,417,500
$19,135,500
103.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
13.7%
Boundaries: Red Fox Lane to North Ranch Road; Golden Eagle Road to Blue Grouse Ridge Road
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coloradomarketreports.com
MAYFAIR/MONTCLAIR
133.3% The number of luxury listings sold within the
January through December
2019
2020
% Change
21
49
133.3%
$436
$468
7.4%
35
36
2.9%
$2,255,000
$2,372,000
5.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
area of Mayfair/Montclair increased by 133.3%
Average List Price
$1,333,476
$1,325,438
-0.6%
January through December 2020 compared to
Average Sale Price
$1,319,560
$1,320,206
0.0%
that of 2019.
% Sold Price to List Price
96.6%
99.2%
2.6%
$27,710,750
$64,690,077
133.4%
Total Dollar Volume
Boundaries: Colorado to Quebec; 6th to Colfax
OBSERVATORY PARK January through December
2019
2020
% Change
61
70
14.8%
$456
$481
5.5%
71
45
-36.6%
$3,050,000
$3,300,000
8.2%
Average List Price
$1,697,781
$1,823,499
7.4%
Average Sale Price
$1,644,501
$1,772,933
7.8%
93.4%
95.7%
2.5%
$100,314,587
$124,105,289
23.7%
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 Observatory Park for Q4 of 2020.
Boundaries: University to Colorado; Evans to Yale
POLO RESERVE
39.2%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
2
7
250.0%
$347
$419
20.7%
130
79
-39.2%
The average days on market for luxury properties
Highest Price
$3,300,000
$3,700,000
12.1%
within the neighborhood of Polo Reserve
Average List Price
$2,622,500
$2,111,286
-19.5%
decreased by 39.2% January through December
Average Sale Price
$2,375,000
$2,050,471
-13.7%
2020 compared to that of 2019.
% Sold Price to List Price
87.4%
94.3%
7.9%
$4,750,000
$14,353,300
202.2%
Total Dollar Volume
Boundaries: North of Mineral; South of Arabian Place; West of the S Platte River; East of S. Platte Canyon Road
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
SPRUCE MEADOWS January through December
2019
2020
% Change
5
9
80.0%
$458
$478
4.3%
22
56
154.5%
LIV SIR represented the
Highest Price
$2,425,000
$3,500,000
44.3%
seller for the highest
Average List Price
$2,063,800
$2,315,519
12.2%
Average Sale Price
$2,013,000
$2,285,274
13.5%
97.6%
96.4%
-1.2%
$10,065,000
$20,567,467
104.3%
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
45.1%
WASHINGTON PARK EAST/CENTRAL January through December Number of Properties Sold Average Price per Square Foot
2019
2020
% Change
91
132
45.1%
$576
$645
11.9%
48
40
-16.7%
The number of luxury listings sold within the area of
Average Days on Market
Washington Park East/Central increased by 45.1%
Highest Price
$5,611,000
$3,425,000
-39.0%
January through December 2020 compared to that
Average List Price
$1,712,248
$1,824,331
6.5%
of 2019.
Average Sale Price
$1,680,012
$1,782,178
6.1%
95.5%
96.1%
0.7%
$152,881,107
$235,247,523
53.9%
% Sold Price to List Price Total Dollar Volume
Boundaries: Louisiana to Ellsworth, Ogden to University
10
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7478 Sapphire Pointe Blvd, Castle Rock
SOUTH METRO LUXURY MARKET Colorado’s South Metro market offers luxury homes and amenities that make this community a popular choice for buyers looking to live outside of the more urban neighborhoods of Denver. With plenty of open spaces, dining and shopping options, as well as stunning homes, it’s no wonder this luxury market saw a spike in real estate activity last year. Collectively, South Metro saw a 32% increase in the number of luxury properties sold and a 4.2% increase in the average sold price. These metrics are positive indicators of the market’s strength and demand. 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 100% rise in luxury home sales, growing from five properties sold in 2019 to 10 properties sold in 2020. Falcon Hills also saw the largest increase in average sold price for luxury homes in the area, increasing by 18.3% from 2019 to 2020. The average sold price for luxury homes in this neighborhood last year was $1,328,450.
DOUGLAS COUNTY January through December
2019
2020
% Change
438
578
32.0%
$390
$405
4.0%
73
77
5.5%
$4,595,032
$5,925,000
28.9%
Average List Price
$1,445,467
$1,499,439
3.7%
Average Sale Price
$1,400,544
$1,459,381
4.2%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
Other South Metro neighborhoods also saw average % Sold Price to List Price 95.4% 95.9% 0.5% sold prices rise in 2020. Luxury homes in The Village at Total Dollar Volume $613,438,245 $843,522,345 37.5% Castle Pines saw sold prices increase by an average of 10.9%, bringing the average sold price to $1,581,627 last year. In 2020, this community had the highest-priced sale within South Metro. The sale of this amazing home, which was represented by a LIV Sotheby’s International Realty broker, closed for $5,500,000. Keene Ranch proved to be a very popular community in the eyes of consumers last year. Homes in this neighborhood saw a 65.8% decrease in average days on market, with most homes staying on the market for an average of 38 days.
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 January 8, 2021. 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 - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
BACKCOUNTRY January through December
2019
2020
% Change
60
51
-15.0%
$376
$372
-1.1%
24
46
91.7%
Highest Price
$4,595,032
$3,000,000
-34.7%
Average List Price
$1,472,089
$1,363,148
-7.4%
parks, Denver Tech Center,
Average Sale Price
$1,451,781
$1,335,109
-8.0%
and Inverness.
97.0%
95.8%
-1.3%
$87,106,838
$68,090,563
-21.8%
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 Ranch business
Boundaries: South of Wildcat Reserve Pkwy; East of Weathersfield Way, West of Red Sun Ct
FALCON HILLS January through December
2019
2020
% Change
5
10
100.0%
$262
$317
20.7%
76
35
-53.9%
Highest Price
$1,225,000
$1,605,000
31.0%
Average List Price
$1,160,000
$1,361,300
17.4%
Average Sale Price
$1,122,672
$1,328,450
18.3%
93.5%
95.9%
2.6%
$5,613,360
$13,284,500
136.7%
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 Q4 of 2020.
% Sold Price to List Price Total Dollar Volume
HERITAGE ESTATES January through December
2019
2020
% Change
7
5
-28.6%
$377
$340
-9.9%
42
158
276.2%
community located in
Highest Price
$2,610,000
$1,860,000
-28.7%
Lone Tree and built around
Average List Price
$2,032,714
$1,644,380
-19.1%
the fairways of the Lone
Average Sale Price
$1,938,571
$1,563,465
-19.3%
Tree Golf Course.
93.2%
89.1%
-4.4%
$13,570,000
$7,817,324
-42.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
12
Heritage Estates is a
coloradomarketreports.com
HERITAGE HILLS January through December
3.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
32
29
-9.4%
$371
$383
3.3%
37
49
32.4%
$2,000,000
$1,989,428
-0.5%
The average price per square foot for luxury
Highest Price
properties within Heritage Hills increased by 3.3%
Average List Price
$1,413,984
$1,439,738
1.8%
January through December 2020 compared to
Average Sale Price
$1,380,067
$1,410,546
2.2%
that of 2019.
% Sold Price to List Price
96.9%
95.8%
-1.1%
$44,162,130
$40,905,832
-7.4%
Total Dollar Volume
KEENE RANCH January through December
2019
2020
% Change
10
13
30.0%
$361
$397
9.9%
111
38
-65.8%
both the seller and the
Highest Price
$1,500,000
$2,550,000
70.0%
buyer for the highest
Average List Price
$1,256,990
$1,374,192
9.3%
priced sale in Keene Ranch
Average Sale Price
$1,225,156
$1,337,815
9.2%
for Q4 of 2020.
95.2%
96.5%
1.4%
$12,251,555
$17,391,600
42.0%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
LIV SIR represented the
Boundaries: South Butte Circle to Castle Butte Drive; South Peak View Drive to West Tomah Road
RAVENNA
30.8%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
16
23
43.8%
$625
$686
9.6%
159
110
-30.8%
The average days on market for luxury properties
Highest Price
$3,282,799
$3,047,125
-7.2%
within the neighborhood of Ravenna decreased by
Average List Price
$1,859,250
$1,980,849
6.5%
30.8% January through December 2020 compared
Average Sale Price
$1,833,460
$1,922,468
4.9%
to that of 2019.
% Sold Price to List Price
97.8%
99.5%
1.7%
$29,335,353
$44,216,757
50.7%
Total Dollar Volume
Boundaries: Colorado to Quebec; 6th to Colfax
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
SPIRIT RIDGE January through December
2019
2020
% Change
7
8
14.3%
$309
$324
4.8%
130
81
-37.7%
$1,280,000
$1,875,844
46.6%
The highest price for luxury properties within the
Average List Price
$1,190,128
$1,290,537
8.4%
neighborhood of Spirit Ridge increased by 46.6%
Average Sale Price
$1,128,357
$1,233,543
9.3%
January through December 2020 compared to
90.4%
95.9%
6.0%
that of 2019.
$7,898,500
$9,868,344
24.9%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
46.6%
Boundaries: University to Colorado; Evans to Yale
THE VILLAGE AT CASTLE PINES January through December
2019
2020
% Change
85
99
16.5%
$409
$422
3.1%
79
91
15.2%
$2,675,000
$5,500,000
105.6%
Average List Price
$1,483,676
$1,640,479
10.6%
Average Sale Price
$1,425,927
$1,581,627
10.9%
95.4%
94.2%
-1.3%
$121,203,781
$156,581,117
29.2%
Number of Properties Sold
LIV SIR represented the
Average Price per Square Foot
seller for the highest priced
Average Days on Market
sale in The Village at Castle
Highest Price
Pines for Q4 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
6917 Timbers Drive, Evergreen
FOOTHILLS LUXURY MARKET With its nearness to nature, views of the Front Range, and relaxed lifestyle, the Foothills offers luxury homebuyers the opportunity to find a home that provides them with the best of city and open spaces. Thanks to this community’s unique characteristics, the Foothills’ luxury home market experienced a surge in buying and selling activity in 2020. The number of sold luxury listings in the Foothills rose by 53.1% in 2020, from 290 listings sold in 2019 to 444 listings sold last year. Additionally, the average sold price for luxury homes in this area increased, growing by 2.7% which brings the average sold price to $1,374,968 in 2020. Over the course of 2020, consumers’ desire for luxury homes in the Foothills also accelerated the buying and selling process, decreasing the average days on market by 21.9%. Luxury homes in this community spent an average of 57 days on the market.
JEFFERSON COUNTY January through December
2019
2020
% Change
290
444
53.1%
$388
$399
3.0%
73
57
-21.9%
$3,400,000
$3,800,000
11.8%
Average List Price
$1,390,347
$1,414,609
1.7%
Average Sale Price
$1,338,301
$1,374,968
2.7%
94.2%
95.8%
1.8%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price
Out of the six luxury neighborhoods within the Total Dollar Volume $388,107,414 $610,485,720 57.3% Foothills, two saw the number of homes sold increase by more than 100%. Soda Creek, located in North Evergreen, experienced a 216.7% increase in luxury home sales, rising from six homes sold in 2019 to 19 homes sold last year. In Riva Chase, there were eight luxury home sales in 2020, a 300% increase from 2019 when two luxury homes were sold. Average prices in some communities also saw increases in 2020. For example, luxury homes in Hangen Ranch increased in price by 32.2%, bringing the average sold price to $1,936,333. Hangen Ranch also saw the most significant decrease in the average days on market for luxury homes in the Foothills. Here, luxury homes spent an average of 32 days on the market, a 76.8% difference from 2019 when the average days on market for luxury homes was 138 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 from REColorado on January 8, 2021. 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 - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
GENESEE January through December
2019
2020
% Change
17
20
17.6%
$389
$418
7.5%
96
56
-41.7%
LIV SIR represented the
$2,175,000
$3,300,000
51.7%
seller for the highest priced sale
Average List Price
$1,496,176
$1,510,800
1.0%
in Genesee for Q4 of 2020.
Average Sale Price
$1,432,206
$1,430,275
-0.1%
93.5%
93.8%
0.4%
$23,347,500
$28,605,500
22.5%
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 December
2019
2020
% Change
2
3
50.0%
$440
$663
50.6%
138
32
-76.8%
Highest Price
$1,630,000
$2,926,000
79.5%
Average List Price
$1,500,000
$2,016,000
34.4%
Average Sale Price
$1,465,000
$1,936,333
32.2%
87.4%
98.6%
12.8%
$2,930,000
$5,809,000
98.3%
Number of Properties Sold Average Price per Square Foot
LIV SIR represented the
Average Days on Market
seller for the highest priced sale in Hangen Ranch for Q4 of 2020.
% Sold Price to List Price Total Dollar Volume
RIDGE AT HIWAN 2019
2020
% Change
19
21
10.5%
$342
$356
3.9%
26
61
134.6%
10.5%
Highest Price
$2,475,000
$1,685,000
-31.9%
The number of luxury properties sold within the
Average List Price
$1,298,158
$1,291,381
-0.5%
neighborhood of Ridge at Hiwan increased by
Average Sale Price
$1,262,041
$1,245,405
-1.3%
10.5% January through December 2020 compared
96.5%
94.5%
-2.1%
to that of 2019.
$23,978,785
$26,153,500
9.1%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
16
coloradomarketreports.com
RIVA CHASE
67.6%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
2
8
300.0%
$326
$312
-4.4%
315
102
-67.6%
The average days on market for luxury properties
Highest Price
$1,800,000
$1,370,000
-23.9%
within the neighborhood of Riva Chase decreased
Average List Price
$1,690,000
$1,231,113
-27.2%
by 67.6% January through December 2020
Average Sale Price
$1,565,000
$1,198,250
-23.4%
compared to that of 2019.
% Sold Price to List Price
80.9%
93.4%
15.4%
$3,130,000
$9,586,000
206.3%
Total Dollar Volume
SODA CREEK January through December
216.7%
2019
2020
% Change
6
19
216.7%
$394
$414
5.1%
101
131
29.7%
Highest Price
$1,820,000
$3,450,000
89.6%
The number of luxury listings sold within the
Average List Price
$1,531,650
$2,005,684
30.9%
neighborhood of Soda Creek increased by 216.7%
Average Sale Price
$1,424,167
$1,868,782
31.2%
January through December 2020 compared to
90.9%
90.1%
-0.9%
that of 2019.
$8,545,000
$35,506,850
315.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
SPRING RANCH
56.5%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
3
6
100.0%
$427
$361
-15.4%
97
120
23.7%
$2,000,000
$1,675,000
-16.3%
The total dollar volume for the area of Spring
Highest Price
Ranch increased by 56.5% January through
Average List Price
$1,573,333
$1,418,583
-9.8%
December 2020 compared to that of 2019.
Average Sale Price
$1,526,667
$1,395,667
-8.6%
92.1%
94.5%
2.7%
$5,580,000
$8,734,000
56.5%
% Sold Price to List Price Total Dollar Volume
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
300 Pine Needle Road, Boulder
BOULDER VALLEY LUXURY MARKET Boulder, voted one of the healthiest communities in the country, is beloved for its location at the base of the Rocky Mountains and its collection of local restaurants, boutiques, outfitters, and nightlife. The combination of entertainment and outdoor activities has made Boulder, and its surrounding neighborhoods, a top priority for luxury homebuyers looking to invest in their lifestyles. Over the last year, Boulder Valley saw many positive increases in its luxury real estate market. Overall, Boulder County saw a 22.4% increase in the number of luxury homes sold in 2020 compared to 2019. Luxury homes in this market appreciated in value by 1.4% last year, bringing the average price for listings in this sector of the market to $1,674,243. Combined, these increases resulted in an impressive 24.1% rise in dollar volume sold, totaling $1,235,591,346. What’s more, days on market for luxury homes in Boulder decreased from 2019 to 2020 by 4.4%, from 90 days on market to 86 days on market.
BOULDER COUNTY January through December 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
2019
2020
% Change
603
738
22.4%
$464
$469
1.1%
90
86
-4.4%
$7,200,000
$8,000,000
11.1%
$1,651,152
$1,674,243
1.4%
96.9%
97.3%
0.4%
$995,644,650
$1,235,591,346
24.1%
Luxury properties in the City of Boulder saw a notable increase in the number of listings sold, growing by 18.2% from 2019 to 2020. Boulder’s Foothills Communities, which includes Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, and Eldorado Springs, saw one of the most significant increases in luxury home sales, increasing by 37.5% from 16 sales in 2019 to 22 sales last year. Other areas experienced increases in average sold prices, such as University Hill and Chautauqua, where luxury home prices rose by 8%, to $1,945,399 in 2020. The average sold price for luxury homes in the City of Boulder increased by 1.5% in 2020, bringing the price to $1,752,745. 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 January 8, 2021. 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 December
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
457
540
18.2%
$515
$530
2.9%
86
77
-10.5%
$7,200,000
$8,000,000
11.1%
$1,727,227
$1,752,745.35
1.5%
96.7%
97.4%
0.7%
$789,342,589
$946,482,491.00
19.9%
BOULDER COUNTY PLAINS January through December
32.0%
2019
2020
% Change
Number of Properties Sold
50
66
32.0%
Average Days on Market
79
112
41.8%
Highest Price
$7,200,000
$2,900,000
-59.7%
The number of luxury listings sold within the
Average Sale Price
$1,604,670
$1,608,731
0.3%
Boulder County Plains increased by 32.0%
97.1%
97.0%
-0.1%
January through December 2020 compared to
$80,233,504
$106,176,232
32.3%
that of 2019.
% Sold Price to List Price Total Dollar Volume
Niwot, Somerset Meadows, White Hawk Ranch, Fairview Estates, Paragon Estates, Spanish Hills
61.8%
The total dollar volume for the area of Broomfield increased by 61.8% January through December 2020 compared to that of 2019.
BROOMFIELD COUNTY January through December
2019
2020
% Change
Number of Properties Sold
30
45
50.0%
Average Days on Market
62
70
12.9%
$2,425,999
$3,500,000
44.3%
$1,287,167
$1,388,575
7.9%
97.1%
98.3%
1.2%
$38,615,023
$62,485,854
61.8%
Highest Price Average Sale Price % Sold Price to List Price Total Dollar Volume
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
DOWNTOWN BOULDER January through December 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
2019
2020
% Change
17
15
-11.8%
$639
$808
26.4%
104
97
-6.7%
$2,495,000
$2,600,000
4.2%
$1,533,753
$1,519,683
-0.9%
96.4%
95.8%
-0.6%
$26,073,800
$22,795,247
-12.6%
42.7%
by 42.7% January through December 2020 compared to that of 2019.
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 January through December
The average days on market for luxury properties sold within the Foothills Communities decreased
Downtown Boulder is
2019
2020
% Change
# of Properties Sold
16
22
37.5%
Average Days on Market
96
55
-42.7%
Highest Price
$5,779,000
$4,995,000
-13.6%
Average Sold Price
$1,963,813
$1,653,045
-15.8%
97.0%
92.0%
-5.2%
$31,421,000
$36,367,000
15.7%
% Sold Price to List Price Total Dollar Volume
Pinebrook Hills, Boulder Heights, Lake of the Pines, Jamestown, Eldorado Springs
UNIVERSITY HILL & CHAUTAUQUA January through December 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
11.3%
2019
2020
% Change
58
57
-1.7%
$538
$599
11.3%
86
80
-7.0%
The average price per square foot for luxury properties
$3,900,000
$6,800,000
74.4%
within the area of University Hill and Chautauqua
$1,801,710
$1,945,399
8.0%
increased by 11.3% January through December 2020
96.1%
97.1%
1.0%
compared to that of 2019.
$104,499,200
$110,887,734
6.1%
coloradomarketreports.com
27 Elm Avenue, Colorado Springs
COLORADO SPRINGS
LUXURY MARKET
As one of the most popular secondary markets in the country, it’s no surprise that Colorado Springs saw a boom in luxury real estate sales during 2020. As the state’s second-largest city, this community offers the best in urban amenities and outdoor spaces, creating a lifestyle that homebuyers are dreaming of. Clearly, that dream became a reality for many consumers in 2020. The luxury home market in Colorado Springs saw a 96% increase in sales compared to 2019, growing from 100 homes sold to 196 homes sold last year. The intense demand for local luxury listings also drove average days on market down from 113 days in 2019 to 77 days in 2020. Overall, the total dollar volume sold increased by an impressive 94.5%, reaching $264,810,390 last year.
EL PASO & TELLER COUNTY January through December Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price Average List Price
Average Sale Price Other neighborhoods within this popular Colorado community also saw encouraging increases in % Sold Price to List Price market activity. For instance, the number of luxury Total Dollar Volume listings sold in the Black Forest neighborhood rose by 184.2% from 2019, when 19 listings sold, to 2020 when 54 listings sold. The market in Monument also experienced an astonishing boost in luxury home sales, growing 145.5% since 2019.
2019
2020
% Change
100
196
96.0%
$239
$225
-5.9%
113
77
-31.9%
$2,900,000
$6,700,000
131.0%
$1,447,716
$1,430,761
-1.2%
$1,361,829
$1,358,002
-0.3%
96.0%
96.7%
0.7%
$136,182,900
$264,810,390
94.5%
Some areas within Colorado Springs saw home values and prices appreciate. Luxury listings in the Flying Horse area rose in price by an average of 18.1%, bringing the average sold price for local homes to $1,594,353 in 2020. The demand for homes in this highly sought-after community led to a decrease in the time luxury homes spent on the market in 2020. In Flying Horse, luxury listings spent an average of 72.6% less time on the market, dropping from 135 days in 2019 to only 27 days in 2020. Luxury listings within the neighborhood of Kissing Camels also experienced a dramatic decrease in days on market, averaging just 33 days, a 66% drop from 2019 when the average was 97 days. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”), for the period January 1, 2019 through December 31, 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 - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
BLACK FOREST January through December
184.2%
2019
2020
% Change
19
54
184.2%
$230
$221
-3.9%
99
95
-4.0%
$2,250,000
$2,385,000
6.0%
The number of luxury listings sold within Black
Average List Price
$1,379,418
$1,385,813
0.5%
Forest increased by 184.2% January through
Average Sale Price
$1,273,224
$1,327,280
4.2%
December 2020 compared to that of 2019.
95.1%
97.0%
2.0%
$24,191,256
$71,673,120
196.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
BROADMOOR January through December
Known for the popular luxury
Number of Properties Sold
hotel and resort, Broadmoor is
Average Price per Square Foot
2019
2020
% Change
26
49
88.5%
$272
$232
-14.7%
135
98
-27.4%
$2,900,000
$2,900,000
0.0%
a residential neighborhood in
Average Days on Market
Colorado Springs with stately
Highest Price
mansions, mid-century homes
Average List Price
$1,680,246
$1,569,694
-6.6%
on large lots, and gorgeous
Average Sale Price
$1,582,300
$1,434,025
-9.4%
93.6%
94.6%
1.1%
$41,139,800
$70,267,225
70.8%
mountain views.
% Sold Price to List Price Total Dollar Volume
FLYING HORSE January through December
2019
2020
% Change
16
21
31.3%
$233
$239
2.6%
135
37
-72.6%
$2,900,000
$6,700,000
131.0%
Average List Price
$1,450,903
$1,543,763
6.4%
Average Sale Price
$1,350,287
$1,594,353
18.1%
96.3%
97.6%
1.3%
$21,604,592
$33,481,413
55.0%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
22
72.6%
The average days on market within Flying Horse decreased by 72.6% January through December
2020 compared to that of 2019.
coloradomarketreports.com
KISSING CAMELS January through December
Kissing Camels sits on a mesa
Number of Properties Sold
surrounding 27 holes of private
Average Price per Square Foot
golf course. Staggering views
2019
2020
% Change
13
16
23.1%
$225
$246
9.3%
97
33
-66.0%
of Garden of the Gods and
Average Days on Market
Pikes Peak are found from
Highest Price
$1,975,000
$2,750,000
39.2%
Average List Price
$1,394,138
$1,379,681
-1.0%
Average Sale Price
$1,330,139
$1,325,000
-0.4%
99.3%
96.8%
-2.5%
$17,291,807
$21,200,000
22.6%
almost every acre.
% Sold Price to List Price Total Dollar Volume
MONUMENT January through December
31.6%
2019
2020
% Change
11
27
145.5%
$215
$208
-3.3%
42
54
28.6%
$1,900,000
$2,500,000
31.6%
The highest price for luxury properties within
Average List Price
$1,118,149
$1,266,242
13.2%
Monument increased by 31.6% January through
Average Sale Price
$1,169,134
$1,247,423
6.7%
100.5%
99.5%
-1.0%
$12,860,474
$33,680,421
161.9%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
December 2020 compared to that of 2019.
RESIDENTIAL LUXURY REPORT + $1,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
71 Indian Brush Trail, Silverthorne
SUMMIT COUNTY LUXURY MARKET As home to some of the most popular ski resorts in Colorado, Summit County is an obvious choice for buyers looking for luxury homes in the Rocky Mountains. While 2020 presented challenges, this collection of resort communities remained a priority destination for buying and selling real estate. Overall, Summit County saw an astounding 87.1% increase in the number of luxury homes sold in 2020 compared to 2019. In 2019, there were 85 luxury listings sold, but last year there were 159 luxury listings sold, illustrating the surge in Summit County real estate activity. This boost in luxury home sales has contributed to the incredible 67.8% rise in total sales volume, totaling $445,776,352 in 2020.
SUMMIT COUNTY January through December
2019
2020
% Change
85
159
87.1%
$655
$615
-6.0%
165
121
-26.7%
$10,100,000
$7,000,000
-30.7%
Average List Price
$3,273,165
$2,926,765
-10.6%
Average Sale Price
$3,125,049
$2,803,625
-10.3%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
All three luxury communities within Summit County % Sold Price to List Price 96.1% 96.1% 0.0% saw impressive increases in the number of listings Total Dollar Volume sold last year. The most significant rise in sold $265,629,197 $445,776,352 67.8% luxury listings was seen in Keystone’s luxury single family home market, where there was a 233.3% increase in properties sold compared to 2019. Additionally, the luxury single family home market in Copper Mountain and Breckenridge saw the number of listings sold increase by 100% and 71% respectively.
With demand for Summit County’s inventory of luxury homes on the rise, buyers and sellers faced a shorter average time on the market. In Breckenridge, luxury homes spent an average of 130 days on the market, down from 172 days in 2019. Keystone’s luxury market moved even quicker with average days on the market decreasing by 65.4%, leaving many listings on the market for just 36 days.
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 January 8, 2021. 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.
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BRECKENRIDGE January through December
2019
2020
% Change
62
106
71.0%
$632
$610
-3.5%
172
130
-24.4%
$10,100,000
$7,000,000
-30.7%
The number of luxury listings sold within
Average List Price
$3,535,919
$3,075,481
-13.0%
Breckenridge increased by 71.0% January through
Average Sale Price
$3,343,063
$2,932,243
-12.3%
December 2020 compared to that of 2019.
95.1%
95.7%
0.7%
$207,269,900
$310,817,805
50.0%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
71.0%
Single Family Homes
COPPER MOUNTAIN January through December Number of Properties Sold Average Price per Square Foot
Copper Mountain is home
2019
2020
% Change
2
4
100.0%
$547
$583
6.5%
385
129
-66.5%
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
$3,253,750
-0.5%
racers in the world.
Average Sale Price
$3,215,000
$3,092,000
-3.8%
98.3%
95.0%
-3.3%
$6,430,000
$12,368,000
92.3%
% Sold Price to List Price Total Dollar Volume
Single Family Homes
KEYSTONE January through December
2019
2020
% Change
3
10
233.3%
$591
$509
-13.9%
104
36
-65.4%
$3,450,000
$3,322,000
-3.7%
Average List Price
$3,016,667
$2,682,300
-11.1%
within Keystone decreased by 65.4% January
Average Sale Price
$3,204,903
$2,581,450
-19.5%
through December 2020 compared to that of 2019.
106.8%
96.2%
-9.9%
$9,614,708
$25,814,500
168.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
65.4%
The average days on market for luxury properties
Single Family Homes
RESIDENTIAL LUXURY REPORT + $2,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
39 Whetstone Road, Mt.Crested Butte
CRESTED BUTTE LUXURY MARKET For those seeking a different kind of luxury living, Crested Butte is a must-see. With breathtaking views, endless outdoor adventures, and some of the most incredible, high-end homes on the market, this historic Colorado community is a great destination to invest in a vacation home or a mountain estate to enjoy for generations to come. In 2020, Gunnison County, which encompasses Crested Butte, saw a 37% rise in the number of luxury homes sold in comparison to 2019. Not only did more listings sell in 2020, but those listings sold for 1.1% higher prices than the previous year, averaging $3,023,010. Combined, these increases contributed to the total dollar volume sold, which rose by 38.5% compared to 2019, reaching $111,851,375 in 2020.
GUNNISON COUNTY January through December
2019
2020
% Change
27
37
37.0%
$784
$766
-2.3%
229
278
21.4%
$5,300,000
$5,150,000
-2.8%
Average List Price
$3,337,555
$3,350,864
0.4%
Average Sale Price
$2,991,407
$3,023,010
1.1%
89.6%
90.2%
0.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price
Total Dollar Volume $80,768,000 $111,851,375 38.5% Luxury single family home sales in Mt. Crested Butte rose by an impressive 400%, increasing from one luxury home sale to five sales over the course of a year. Here, high-end home prices also saw notable increases, growing by 19.5%, which brings the average sale price for luxury listings in the area to $2,592,620.
In 2020, the Town of Crested Butte had nine luxury listing sales, a 28.6% increase from 2019 when there were seven luxury listings sold. In this community, average prices fell by 2.8%, bringing the average sale price for luxury homes last year to $2,819,586.
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 January 8, 2021. 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.
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MT. CRESTED BUTTE January through December
2019
2020
% Change
1
5
400.0%
$393
$557
41.8%
82
401
389.0%
$2,170,000
$3,500,000
61.3%
priced sale in Mt. Crested
Average List Price
$2,300,000
$2,739,000
19.1%
Butte for 2020.
Average Sale Price
$2,170,000
$2,592,620
19.5%
94.4%
94.7%
0.3%
$2,170,000
$12,963,100
497.4%
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 buyer for the highest
Single Family Homes
TOWN OF CRESTED BUTTE January through December Number of Properties Sold Average Price per Square Foot
LIV SIR represented the
Average Days on Market
2019
2020
% Change
7
9
28.6%
$961
$908
-5.5%
186
235
26.3%
buyer for the highest priced
Highest Price
$4,461,500
$3,900,000
-12.6%
sale in the Town of Crested
Average List Price
$3,058,571
$2,965,000
-3.1%
Butte for 2020.
Average Sale Price
$2,900,785
$2,819,586
-2.8%
94.8%
95.1%
0.3%
$20,305,500
$25,376,275
25.0%
% Sold Price to List Price Total Dollar Volume
Single Family Homes
RESIDENTIAL LUXURY REPORT + $2,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
476 Pilgrim Drive, Edwards
VAIL VALLEY LUXURY MARKET As one of Colorado’s premier ski resort destinations, the Vail Valley is a longtime favorite of homebuyers looking for a combination of luxury and mountain living. Although the real estate market here saw rises and falls in activity last year, 2020 was a very productive year for the Vail Valley and yielded success for many buyers and sellers. Last year, the number of luxury listings sold in the Vail Valley increased by 67.3% compared to 2019. Average sale prices for the beautiful homes here rose by 4.3%, bringing the average cost for a luxury house to $6,032,266. Overall, the total dollar volume sold in the Vail Valley increased by an impressive 74.6%, reaching $1,079,847,230 in 2020. 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 in 2019. The $29,750,000 sale, in which LIV Sotheby’s International Realty represented the buyer, played a role in the community’s increase in total sales volume.
EAGLE COUNTY January through December
2019
2020
% Change
107
179
67.3%
$1,275
$1,264
-0.9%
321
244
-24.0%
$20,750,000
$29,750,000
43.4%
Average List Price
$6,242,227
$6,414,503
2.8%
Average Sale Price
$5,781,348
$6,032,666
4.3%
93.6%
94.5%
1.0%
$618,604,314
$1,079,847,230
74.6%
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 in Bachelor Gulch, a community with close proximity to Beaver Creek Ski Resort, saw the most dramatic increase in the number of luxury properties sold in 2020, rising from four homes sold in 2019 to 14 homes sold last year, a 250% increase. The Town of Vail and Vail Village also experienced notable increases in luxury home sales, growing by 46.4% and 66.7% respectively. Average luxury home prices rose within several neighborhoods. Luxury single family homes in Beaver Creek increased in average sold price by 28.6%, bringing the average sold price to $6,348,750. 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 January 8, 2021. 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.
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ARROWHEAD January through December
2019
2020
% Change
8
16
100.0%
$761
$722
-5.1%
173
271
56.6%
Highest Price
$9,300,000
$13,500,000
45.2%
The highest price for luxury properties within
Average List Price
$4,896,750
$5,419,938
10.7%
Arrowhead increased by 45.2% January through
Average Sale Price
$4,655,000
$5,161,125
10.9%
December 2020 compared to that of 2019.
95.3%
94.9%
-0.4%
$37,240,000
$82,578,000
121.7%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
45.2%
Single Family Homes
BACHELOR GULCH January through December
2019
2020
% Change
4
14
250.0%
$947
$935
-1.3%
111
298
168.5%
$10,200,000
$12,995,000
27.4%
Average List Price
$7,836,250
$8,034,286
2.5%
Average Sale Price
$7,648,750
$7,634,821
-0.2%
97.7%
94.7%
-3.1%
$30,595,000
$106,887,500
249.4%
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 December
2019
2020
% Change
6
8
33.3%
$692
$973
40.6%
576
483
-16.1%
Highest Price
$7,400,000
$12,375,000
67.2%
The average price per square foot for luxury
Average List Price
$5,302,500
$6,676,250
25.9%
properties within Beaver Creek increased
Average Sale Price
$4,935,833
$6,348,750
28.6%
by 40.6% January through December 2020
93.2%
95.7%
2.7%
compared to that of 2019.
$29,615,000
$50,790,000
71.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
40.6%
Single Family Homes
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
LIONSHEAD January through December
55.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
9
14
55.6%
$1,738
$1,782
2.5%
225
325
44.4%
$8,500,000
$11,200,000
31.8%
The number of luxury listings sold within the area
Highest Price
of Lionshead increased by 55.6% January through
Average List Price
$4,731,667
$5,032,143
6.4%
December 2020 compared to that of 2019.
Average Sale Price
$4,501,944
$4,888,928
8.6%
95.5%
96.9%
1.5%
$40,517,500
$68,445,000
68.9%
% Sold Price to List Price Total Dollar Volume
All Properties
MOUNTAIN STAR January through December
2019
2020
% Change
3
4
33.3%
$633
$762
20.4%
543
230
-57.6%
Highest Price
$6,500,000
$8,530,000
31.2%
The average list price of luxury homes within
Average List Price
$5,098,333
$6,510,000
27.7%
Mountain Star increased by 27.7% January through
Average Sale Price
$4,365,000
$6,010,000
37.7%
December 2020 compared to that of 2019.
85.5%
93.3%
9.2%
$13,095,000
$24,040,000
83.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market
% Sold Price to List Price Total Dollar Volume
27.7%
VAIL VILLAGE
56.6%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
21
35
66.7%
$2,313
$2,497
8.0%
624
305
-51.1%
$19,000,000
$29,750,000
56.6%
The highest price of luxury homes sold in the
Highest Price
Vail Village increased by 56.6% January through
Average List Price
$8,810,562
$11,242,686
27.6%
December 2020 compared to that of 2019.
Average Sale Price
$8,222,919
$10,333,499
25.7%
93.2%
91.3%
-2.0%
$172,681,300
$361,672,480
109.4%
% Sold Price to List Price Total Dollar Volume
All Properties
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VAIL GOLF COURSE/ SPRADDLE CREEK January through December
2019
2020
% Change
9
5
-44.4%
$1,521
$2,122
39.5%
232
168
-27.6%
$17,250,000
$11,950,000
-30.7%
Average List Price
$9,925,000
$9,789,000
-1.4%
Average Sale Price
$8,565,643
$9,312,625
8.7%
88.3%
94.4%
6.8%
$77,090,788
$46,563,125
-39.6%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
39.5%
The average price per square foot for luxury homes within Vail Golf Course/Spraddle Creek increased by 39.5% January through December 2020 compared to that of 2019.
TOWN OF VAIL
30.1%
January through December Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
56
82
46.4%
$1,697
$1,795
5.8%
362
253
-30.1%
$20,750,000
$29,750,000
43.4%
The average days on market for luxury listings
Highest Price
within the Town of Vail decreased by 30.1% January
Average List Price
$7,203,961
$7,757,061
7.7%
through December 2020 compared to that of 2019.
Average Sale Price
$6,654,846
$7,245,118
8.9%
93.3%
93.9%
0.7%
$372,671,398
$594,099,730
59.4%
% Sold Price to List Price Total Dollar Volume
All Properties
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
135 Palmyra Drive, Mountain Village
TELLURIDE LUXURY MARKET Set in Southwest Colorado, the beautiful town of Telluride is rich in history, scenic views, and amazing luxury homes. This community offers a one-of-a-kind lifestyle for buyers in the market for something special. It is for this reason that Telluride saw such an impressive boom in real estate activity in 2020. The number of luxury listings sold in San Miguel County, which includes Telluride and its surrounding communities, grew by a notable 134.8%, from 46 luxury homes sold in 2019 to 108 luxury homes sold in 2020. The average sold price for high-end homes in this community for 2020 was $4,997,760, a 0.1% increase from the previous year. Together, these increases contributed to the rise in total dollar volume sold in 2020, which reached $539,758,056.
SAN MIGUEL COUNTY January through December
2019
2020
% Change
46
108
134.8%
$1,083
$1,280
18.2%
628
381
-39.3%
$16,250,000
$13,250,000
-18.5%
Average List Price
$5,419,152
$5,272,962
-2.7%
Average Sale Price
$4,991,204
$4,997,760
0.1%
93.2%
95.6%
2.6%
$229,595,375
$539,758,056
135.1%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
The Town of Telluride experienced a 165% rise in the number of luxury residential properties sold last year (53) compared to 2019 (20). This rise in the number of luxury listings sold created a 195.4% boost in the total dollar volume sold. The Town of Telluride’s total dollar volume sold within the luxury residential real estate market reached $268,922,850 in 2020. In Mountain Village, luxury residential sales grew by 119%, from 21 listings sold in 2019 to 46 listings sold in 2020. Total dollar volume sold in Mountain Village increased by 95.5% last year bringing the total dollar volume sold to $218,744,919. Intense demand for luxury homes in Mountain Village resulted in a decrease in average days on market last year. Luxury homes here spent an average of 55.3% less time on the market in 2020.
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 January 8, 2021. 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.
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MOUNTAIN VILLAGE January through December
2019
2020
% Change
21
46
119.0%
$833
$835
0.2%
711
318
-55.3%
$16,250,000
$8,917,526
-45.1%
Average List Price
$5,328,071
$4,955,302
-7.0%
Mountain Village increased by 119.0% January
Average Sale Price
$5,328,071
$4,755,324
-10.7%
through December 2020 compared to that of 2019.
91.4%
96.7%
5.8%
$111,889,500
$218,744,919
95.5%
Number of Properties Sold Average Price per Square Foot Average Days on Market Highest Price
% Sold Price to List Price Total Dollar Volume
119.0% The number of luxury listings sold within
All Properties
TOWN OF TELLURIDE January through December
47.4%
Number of Properties Sold Average Price per Square Foot Average Days on Market
2019
2020
% Change
20
53
165.0%
$1,147
$1,691
47.4%
562
455
-19.0%
The average price per square foot for luxury
Highest Price
$7,625,000
$11,200,000
46.9%
properties sold within the Town of Telluride increased
Average List Price
$4,853,350
$5,419,925
11.7%
by 47.4% January through December 2020
Average Sale Price
$4,551,500
$5,074,016
11.5%
compared to that of 2019.
% Sold Price to List Price
94.6%
94.9%
0.3%
$91,030,000
$268,922,850
195.4%
Total Dollar Volume
All Properties
SURROUNDING NEIGHBORHOODS January through December
2019
2020
% Change
2
9
350.0%
$1,055
$1,001
-5.2%
260
83
-68.1%
Highest Price
$8,400,000
$13,250,000
57.7%
The average days on market for luxury properties
Average List Price
$6,325,000
$7,058,750
11.6%
within the surrounding neighborhoods of Telluride
Average Sale Price
$5,800,000
$6,912,500
19.2%
decreased by 68.1% January through December
91.7%
97.0%
5.8%
2020 compared 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
68.1%
Aldasoro Ranch, Elk Run, GrayHead, Idarado Legacy, Raspberry Patch, Ski Ranches, The Preserve, and West Meadows
RESIDENTIAL LUXURY REPORT + $3,000,000 Sales
JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM
The life you love.
livsothebysrealty.com | coloradomarketreports.com
RESIDENTIAL LUXURY REPORT JANUARY - DECEMBER 2020 • COLORADOMARKETREPORTS.COM