Residential Luxury Report | Year End 2020

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COLORADO RESIDENTIAL LUXURY REPORT Year End 2020

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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+

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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.

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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

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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

6

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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

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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

8

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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

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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

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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

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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

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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.

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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

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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

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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.

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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.

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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

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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

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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

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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

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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

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The life you love.

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