The luxury home market in Boulder County was very strong this past year. I define the luxury market to be homes selling above $1 million. Throughout Boulder County and across all categories there were 295 sales. This represents a 19% increase from last year and a new record. The first chart below shows the number of $million plus sales over time.
The second chart breaks the luxury category into smaller segments. Studying this chart one can see that more than half of the sales in the luxury market are between $1 and $1.5 million. Substantial sales growth was seen below $2 million this year and there was a small gain for sales above $3 million.
The luxury market segment has recovered well from the economic crash in 2008. Luxury homes are more and more seen as diversification in the portfolios of the wealthy. Over the past decade the housing stock in Boulder County has improved significantly. More and more homes in the luxury segment are built and remodeled each year. Boulder County is becoming known as a relevant destination for high net worth families looking for a lifestyle change. I predict that this trend will continue.