Real Estate
Surging Home Sales Across the Front Range
By Amanda Molitor
Pictured: Dallas Divide

fter the unprecedented challenges of 2020, it is safe to say that there are some things that will never be the same again. Real estate just might be one of those things.

As a result of the pandemic, many people have shuffled their priorities and moved homeownership to the top of their lists. With a significant portion of professionals still operating from home, we are no longer confined to the cities and towns in which we work.

Where we live can now be decided by our passions and by our dreams, not by where our offices are located. This new opportunity begs the question: If you could live anywhere, where would you want to wake up each morning and go to bed each night?

With this question in mind, it is no surprise that Colorado has become one of the hottest real estate markets in the country. Thanks to the unique combination of city conveniences, access to open spaces, and close proximity to the mountains, buyers are flocking to Colorado — and sellers are taking advantage of the low inventory market conditions to secure over-asking-price sales.

As a result of these trends, LIV Sotheby’s International Realty (LIV SIR) has seen a surge in the number of sold listings in some of its most popular regions, including Denver Metro, Colorado Springs, Boulder, and other communities along the Front Range.

Colorado was the 4th most moved-to state in 2020
According to
Pictured: Downtown Denver Skyline
Here’s a snapshot of what’s happening in the Denver Metro and surrounding housing markets:
Denver Metro
The Denver Metro area, a place where green space and an active lifestyle are prioritized as much as its urban amenities, has seen a tremendous rise in buying and selling activity over the last year. In a year-to-date comparison of 2020 to 2019, sold properties increased by 13.5%, reaching more than 61,100 homes sold. Buyers looking for their first house, their forever home, or their next real estate investment in the Mile High City were certainly not alone. In addition to the rise in activity, there was a dip in the number of new listings coming onto the market, causing increased competition with this lack of inventory. This trend is continuing into 2021.

“This tidal wave of real estate activity in the Denver Metro area has created trends that affect the appreciation of home prices, the speed of the sales process for sellers, and the levels of inventory,” said Shannel Ryan, LIV SIR President, Denver Metro. “The influx of activity has created a highly competitive marketplace for both buyers and sellers that also provides a great deal of opportunity for those who want to participate.”

Just a short 40-minute drive outside of Denver, the city of Boulder and its surrounding communities cater toward those with an affinity for all things outdoors. The area’s famous Flatirons rock formations quite literally make it stand out on the map as one of Colorado’s most beautiful and lively places to live. During 2020, there was a 4.7% increase in number of homes sold compared to 2019. Similar to Denver Metro, the city of Boulder is also seeing a lack of inventory as we head into the spring and summer seasons, causing a rise in demand which increases average prices. Last year, the average price of a single family home in Boulder rose by 6.5%.

“Boulder continues to be a very fast-moving sellers’ market with properties going under contract quickly, oftentimes with multiple offers,” commented Christina Davies, Vice President and Managing Broker of LIV SIR’s Boulder office. “Prices continue to rise due to the competitive nature of the current market, where home sales are closing for over the asking price. Our market is buoyant and unmatched due to unparalleled economic growth, fantastic surrounding mountains, and many outdoor activities.”

45% of people who moved in 2020 stated that they were seeking better housing options
According to
Pictured: Red Rocks Park and Amphitheatre
Pictured: Boulder Flatirons
Pictured: Garden of the Gods
Colorado Springs
Heading south, homebuyers are finding slightly lower prices and similar access to entertainment and outdoor adventures within the tight-knit community of Colorado Springs. This area, which was been named one of the hottest secondary markets in the country, saw a 5.8% increase in home sales from 2019 to 2020, according to LIV SIR’s Year End Micro Market Report. The community’s unique lifestyle has made it a popular destination for real estate recently, and this trend will most certainly continue this year.

“Colorado Springs is a thriving secondary market. In fact, our number one feeder market is Denver,” explained Benjamin Day, Managing Broker of LIV SIR’s Colorado Springs office. “While our smaller size, abundant open space, and access to larger city amenities has been a popular draw for the last decade, this has been amplified in the last 12 months with more people working and learning from home.”

Pictured: North Table Mountain
The Foothills
For buyers looking to be close to nature without committing to resort or mountain living, the Foothills are an ideal location to invest in a home. This breathtaking area, which enjoys short commutes to both Denver and Colorado’s ski resorts, boasts access to open space, hiking and biking trails, incredible views, and lifestyle-focused living.

The real estate market in the Foothills experienced an impressive 15.4% boost in home sales during 2020 compared to the previous year. Sellers who listed their homes in these communities enjoyed an average sold price increase of
8.9% last year.

South Denver Metro
Denver’s South Metro market saw a 13.2% increase in properties sold in 2020. This area, which is home to the state’s thriving hub for technology and business known as the Denver Tech Center, is a top destination for buyers relocating from across the country or just down the street. With more single-family housing options, this is a remarkable area for buyers of all lifestyles and ages to consider. Sellers in this community have been spoiled with average home prices rising by 7.2% over the last year.

It is clear that growing demand for lifestyle-focused living has fueled a massive increase in real estate activity across Colorado. The momentum and growth that’s energizing Colorado’s real estate markets stems from one common desire: to live a life we love. With thousands of stunning homes situated in unmatched communities, Colorado is perfectly equipped to help homebuyers and sellers write the next chapter of their lives by buying and selling houses that truly feel like home.