The number of sales in the Boulder County luxury market ($1,000,000 and greater) showed an increase during 2010. The luxury market has more to do with stock portfolio values than employment rates and after a year of recovery the equity markets showed enough strength to increase buyer confidence.
The luxury market in Boulder County is considered a buyer’s market and buyers were looking for good values. There are currently 254 residential properties listing for sale in Boulder County. We are at low ebb because of the holidays. Currently there are 19 homes under contract.
?The number of sales of homes priced $1million and up increased 13.6% from 2009 to 2010.
The median price for homes that close for more than $1 million has been relatively stable at about $1.3 million over the past decade. The red line shows the top price paid for a home during each year.
Luxury Market Overall Boulder County Market
2010 – 8.18% 2010 – 4.17%
2009 – 6.77% 2009 – 3.81%
2008 – 5.51% 2008 – 3.2%
2007 – 6.18% 2007 – 3.15%
2006 – 5.99% 2006 – 2.78%
2005 – 5.32% 2005 – 2.44%
Even though the numbers are larger the average negotiation off of the last list price of luxury homes is greater than the market in general. Given the median sales price of $1,290,000 the average negotiation on a luxury sale this past year was just over $68,000. Of course it is hard to generalize since each situation and home is different.
We have some wonderful listings coming up that are in the upper price ranges. I would love to share our comprehensive marketing plan with you if you have a home to sell.