A Guide to the Colorado Luxury Home Market
Colorado has hopped onto Realtor.com’s top 15 list of the nation’s hottest housing markets, boasting not one spot, but two. Pueblo grabbed the fourth place, and Colorado Springs took the 9th. Midwestern markets are enjoying an upsurge, but the luxury market is slowly swinging in favor of buyers. Mile High City has luxury condos in excess, and the housing crisis has breathed its final breath. Metro areas are still competitive, but there’s no longer a need to exceed the asking price on luxury homes for sale in Colorado. Interest rates are lagging, and median listing prices are slightly lower than the U.S. norm. Cindy Marlowe and her team are Certified Luxury Home Marketing specialists with the best kept secrets in the Colorado market. Top tier shoppers rely on our specialized luxury realty training to track down the properties of their dreams.
The entry-level luxury price tier represents the top 5% of all home sales, so every town defines it differently. Top tier property prices also behave quite differently to the bottom of the market. To complicate the issue further, every county has its own unique housing economy, so the luxury prices in Pueblo aren’t the same as those in Denver. Let’s help you find your next lush neighborhood.
Denver has consistently been one of the hottest luxury housing markets in the country, so it’s a decidedly sturdy investment. The area is also among the top 10 U.S. cities to start a business, so it’s just the spot for your entrepreneurial talents. Median listing prices are currently at $390 000, with active listings having risen by 10% in the last year. Land is expensive, and local interest rates are diving. Whether you’re hunting the leafy streets of South Park Hill or the scorching cultural scene of Berkeley, the market is thriving. Denver’s top school ratings are in Congress Park, Capitol Hill, and Overland. Luxury real estate is defined as property over $1 million, with most homes selling at their listing prices. Denver’s luxury properties tend to sell within a startling 41 days.
Aspen Evens Out
If you’re hankering for a little resort town living, Aspen’s luxury housing market is flattening out, with 10% of sales rising above $12.5 billion. Median prices have dropped since 2017, and interest rates are rising. Only standard market listings are performing well, however, so you’ll get more bang for your buck. This is among the most practical markets for luxury homes for sale in Colorado. Aspen is a highly rated public school district with income ratings far above the U.S. average. Its luxury niche is focused on Maroon Creek, Aspen Woods, and Red Mountain. As one of the world’s most celebrated destinations, it has plenty to see, eat, and experience, and the Alpine Lakes have a way of soothing the soul.
Pueblo is a cultural melting pot with quiet estates and rolling golfing greens to occupy you on the weekends. It’s also one of the reasons luxury homes for sale in Colorado are performing so well on a national scale. New listings rose by almost 3% in 2018 at a forgiving closing rate of 70 days. Luxury homes sell for $80, 000 to $650, 000, so this isn’t your typical high-end market. Even so, it’s home to Colorado State University and the plush Walking Stick Golf Course, so its lifestyles are suitably lush. If Pueblo Revival architecture thrills your artistic side, this is the spot to find it. Multi-storied clay mansions snuggle into the cliffs, recalling the days when ancient tribes made their home here.
Boulder is Colorado’s old soul when it comes to luxury properties. It’s a prosperous, yet cultured area nestled against a breathtaking creek. Luxury listings usually come with exquisite, contemporary architecture and sophisticated interiors. In 2018, the area surpassed Sarasota, Florida in price growth, so its luxury homes are a solid investment that will continue to give back years into the future.
Colorado Springs Remains Strong
Colorado Springs is currently balanced between a buyer’s and a seller’s market. Inventories are unforgiving, and demand is high, so fierce competition abounds. Upscale properties are selling briskly, but the higher end of the luxury market is easier to navigate. Prices are gradually reaching California rates, with supply rising as well. The exclusive Southwest and Northgate neighborhoods are among its most luxurious, where golfing, dining, and shopping are world-class. Its mansions are frequently perched on an acre of land, so if it’s spaciousness you’re seeking, this is your municipal match. The town has nonetheless held onto its small-town charms. The exquisite Pikes Peak and Garden of the Gods lend an air of awe to daily life.
Luxury homes are more than just bricks and mortar, they’re a lifestyle. So luxury homes for sale in Colorado will add an entirely new dimension to your days. They often come with smart home features so that you never need to write another shopping list or drive home to unlock the door to staff. Spas, heated infinity pools, and outdoor kitchens reinvent what it means to entertain. Luscious bathrooms, gyms, and cellars wrap you in comfort from the moment you wake up until you settle in for the night. They are, however, investment assets as well. They bring stability to your portfolio and, if you choose to rent them out, a significant amount of passive income, as well. We understand the texture of every prime location in Colorado because we’ve served the area for many years. Cindy Marlowe is the go-to luxury home expert and has the focused expertise to navigate the high-end market profitably. Our team understands the complexity of buying and selling luxury real estate, and we can track down the finest luxury homes for sale in Colorado. Such properties aren’t found on standard listings, so you need an insider to hunt down the next coveted property. That’s where Redhead Luxury Properties steps in. Isn’t it about time you injected a little luxury into your day-to-day life? We think so.