Colorado’s Real Estate Market is the Gift That Keeps Giving: November Market UpdateAmanda Molitor
Although the year may be coming to an end, Colorado’s real estate markets continue to create opportunities for buyers and sellers to achieve their real estate, financial, and lifestyle goals. See how your community performed through November of this year below.
Boulder, one of the top destinations to live in the country, is seeing a seasonal slowdown in the number of listings sold for all price point – a typical trend observed during this time of the year. Through November of this year in comparison to the same time frame last year, there has been a 10% decrease in homes sold. The average price for homes sold in Boulder appreciated by 23% to reach a total of 853,982. On the other hand, the luxury home market saw a 32% increase in sold listings with the average sold price rising by 4% to $1,851,242.
Luxury homebuyers in Colorado Springs are showing no signs of slowing down through November of this year. The number of luxury home sales has increased by an impressive 120% and the average price has appreciated by 7% to reach $1,440,064. Not only are more luxury homes selling, but they are remaining on the market for less time, decreasing the average days on market by 44% to 45 days. Looking at all price points, Colorado Springs saw a 3% decrease in the number of listings sold but a 17% increase in the average sold price for all listings.
Showing by far the most dramatic increase in luxury listings sold through November of this year compared to the same time frame in 2020, Crested Butte’s real estate market saw an impressive 136% rise in luxury homes sales. The average price of luxury homes in the area through November was $2,995,763 – a 2% decrease from a year ago. Reviewing the data for all price points, Crested Butte had a 15% increase in the number of listings sold overall. Homes here spent an average of 122 days on the market during 2021.
In Denver Metro, luxury real estate is still leading the market by the number of listings sold. Through November of this year, compared to the same time frame in 2020, luxury sales rose by 42%. While the number of luxury listings sold increased, the average sold price for those homes stayed relatively consistent, rising by just 1% to reach an average price of $1,625,027. Comparatively, looking at all price points, the number of listings sold through November of this year decreased by 3% and the average sold price during that time period was $617,906.
Luxury homes have led the way in Grand County through November. The real estate market in this mountain community saw a 56% in luxury listings sold in a year-to-date comparison to the same time frame in 2020. For those looking to invest in a luxury home in Grand County, now may be a good time as the average sold price has decreased by 4% to reach $1,580,373. For all price points, homes in the area spent an average of 87 days on the market – a 28% decrease from a year ago.
The real estate market in Summit County has remained strong through the penultimate month of the year. The number of listings sold at all price points rose by 2% through November of this year, while the average sold price for listings in the area appreciated by 25% to reach an average price of $1,131,295. The luxury sector of the market continues to surge with luxury sales increasing by 70% during the same time frame. The average sold price for high end homes in Summit County through November was $3,144,547 and they sold in an average of 54 days.
The real estate market in Telluride seems to be defying the status quo. Comparing January through November of this year to the same period last year, the number of sold listing for all price points rose by 24%. Conversely, the luxury sector of the market saw home sales decrease by 8%. Overall, the average price for a home in Telluride was $1,732,032 and houses in this area sold in an average time frame of 231 days.
In the Vail Valley, the real estate market is still increasing by the number of home sales even as the year comes to an end. Listings within all price points rose by 3% through November of this year compared to the same time frame last year. The number of listings sold in the luxury sector of the market rose by an impressive 73% during the same period of time. The average sold price for luxury listings in the Vail Valley decreased by 9%, bringing the average sales price to $5,648,354, while the overall average sold price for all listing rose by 20% to $1.902,115.