Over the past two years, Colorado’s real estate market has seen a drastic increase in demand. As housing prices skyrocketed and more people moved to the area, the market shifted.
Now, as we near the end of 2022, several area Real Estate agents say the market is returning to pre-pandemic normalcy. While that is true in some regards, there’s one big difference — the luxury market continues to boom.
In fact, there are four homes in Colorado currently listed above $24 million, something local real estate agents Delroy Gill and Stuart Crowell said they haven’t seen before in their years of experience serving the Colorado real estate market. “The maximum I’ve seen is one home listed above this price range at a time. I’ve never seen two at once, let alone four,” Gill said.
These four Denver-area and Front Range homes range in list price from $24.7 million to $28.88 million. They also vary in size from 13,284 square feet on 118.60 acres in Longmont to a whopping 22,864-square-foot home on 74.51 acres in Evergreen.
According to data from DMAR, the number of homes in the Denver metro priced over $1 million has also increased nearly 32 percent since last November, a trend likely to continue into the New Year.
“We expect that luxury buyers will remain steadily purchasing properties into the New Year, however, they are going to throw their weight around a lot more than they have in the recent past,” Crowell said. “We expect longer negotiation cycles, more exhaustive inspection-related requests, and an overall sense of non-urgency.”
Listed for $28,888,888 in Cherry Hills Village
Listed for $24,900,000 in Longmont
Listed for $24,799,000 in Evergreen
