I define the luxury market in Boulder County to be homes over $1 million. Luxury homes make up approximately 3.5% of the total market in Boulder County (based on 2011 sales).
The number of sales of all homes in Boulder County was down 2.6% during 2011 while the sales of properties over $1,000,000 was up 6%. This is an unexpected statistic for many because the assumption is when sales are down luxury sales will reflect a compounded decline. This post will give you the information you need to interpret the luxury home segment in Boulder County.
As you can see from the graph, million dollar sales in the Boulder area have not always been a big part of the market. During the 2000’s we saw many new luxury properties built and many existing homes remodeled into the luxury category. During this time frame we also had a new category of luxury property take hold in Boulder; downtown luxury condominiums.
Price Range Mix:
The graph above shows the luxury home market split up into smaller segments. Sales for 2010 and 2011 are recorded for each $250,000 segment. You can see that the majority of the sales in the Boulder County luxury home market take place below $1.5 million.
The average negotiation off of list price for all homes that closed in 2011 was 4.1%. So for example if you had your home listed for $400,000 you could reasonably expect your home to sell for $383,600. These past few years showed an interesting trend; as the price range increased the average negotiation increased as well. For homes that sold for over $1 million the average negotiation off of the last list price was 7.67%. For the 24 homes that sold above $2 million last year, the average negotiation was 11.11%.
If you are interested in selling or purchasing a fine home in Boulder County I think you will find that my experience, knowledge and marketing methods are well suited in serving you.