REALTORS® Redefine What “Luxury” Means in Hot Housing Market

Several Denver Metro-area real estate experts in reporting that $1 million is no longer the price point for a luxury home. To live in luxury in Denver, buyers should plan to pay between $1.5 to $2 million or more, and likely on the higher end of that range.

“It’s less and less likely that buyers can get the luxury home they pictured by paying $1 million in Denver,” said Denver REALTOR® and CAR Spokesperson Matthew Leprino, but other parts of the metro might still have higher-end million-dollar properties.

Boulder REALTOR® and CAR Spokesperson Kelly Moye said that the Boulder area saw the average price point go over the $1 million mark around 2016. 

“I remember showing a home that was right around $1 million in South Boulder that looked like the ‘Brady Bunch’ house,” she said. “Full-on orange shag carpet, brown paneling on the walls. I noted that was the first one that didn’t seem particularly luxurious that was priced at the $1 million mark. It sold within two days.”

https://www.bizjournals.com/denver/news/2022/02/16/denver-luxury-home-meaning.html