In the 3rd Quarter of 2017, one city in the United States saw luxury home prices appreciate by 34.7 percent compared to the same period a year earlier. It was the highest jump in the U.S., and it happened in Longmont, where luxury homes (the top five percent of the market) sold for an average of $1.55 million in the 3rd Quarter.
It’s a trend that’s being played out across the Front Range. According to Redfin, Longmont’s neighbor to the south—Littleton—also reported impressive growth in luxury home sales, with year-over-year appreciation of 15.1 percent, good for ninth highest in the nation.
Denver and Boulder also saw significant activity in the luxury market in that time. In October, The Denver Business Journal reported that “more million-dollar mansions sold in Denver last month compared with a year earlier,” with an increase of over 10 percent compared to 2016. In Boulder, sales of million-dollar homes were up 32 percent from September 2016, and up 94 percent from September 2015.
If you’re interested in knowing more about luxury homes in the Boulder Valley, make sure you get a copy of the WK Real Estate Luxury Market Report, Boulder and Broomfield Counties, 3rd Quarter 2017. Contact us for your free copy.