An analysis of Colorado’s ten most expensive housing markets reveals extraordinary growth and unprecedented luxury property values according to the Zillow Home Value Index.
The data showcases Edwards as the standout performer with a remarkable 169.4% appreciation from 2015 to 2024, while even the most modest growth rate (Vail at 83.2%) represents significant market strength. The post-2020 period demonstrates particularly aggressive appreciation, with Edwards and Snowmass Village leading the pack at 127.4% and 106.9% growth respectively.
This pattern suggests a dramatic surge in luxury mountain property values, likely influenced by pandemic-era migration patterns and the growing appeal of Colorado’s high-end resort communities. The analysis reveals a clear premium for ski resort destinations, with these areas consistently outpacing the growth of affluent Denver suburbs in both total value and appreciation rates.
1. Aspen, Colorado
Commanding the crown of Colorado’s luxury real estate market, Aspen’s trajectory tells a story of relentless appreciation. From its already impressive 2015 value of $1,612,224, the market surged to $2,025,277 by 2020, before reaching a staggering $3,413,108 in 2024. This represents a 111.7% increase over nine years, with an aggressive 68.5% gain just since 2020, cementing its position as Colorado’s most expensive property market.
Example of a typical 2024 median-priced home in Aspen
This 2-bedroom, 2-bathroom condo, spanning 990 sq. ft., is listed for $3,595,000 and offers a luxurious contemporary living experience. Located on the main floor near The Gant’s premium amenities, it features wide plank white oak flooring, new kitchen appliances, a custom electric Netzero fireplace, and expertly updated cabinetry. Situated in a tranquil setting yet steps from Aspen’s Core and Ute Avenue, it combines privacy with easy access to year-round outdoor activities and urban conveniences.
Where is Aspen on the map?
Aspen, CO 81611, is a prestigious mountain town located in central Colorado, nestled in the heart of the Rocky Mountains. Known for its world-class ski resorts, upscale dining, and vibrant cultural scene, it attracts visitors year-round for both outdoor recreation and luxury living. Surrounded by stunning natural beauty, Aspen offers access to activities such as hiking, biking, and fishing in the summer, making it a premier destination for adventure and leisure.
2. Cherry Hills Village, Colorado
As Denver’s premier luxury suburb, Cherry Hills Village demonstrates the enduring appeal of exclusive metropolitan enclaves. The area’s progression from $1,426,508 in 2015 to $1,789,306 in 2020, and ultimately to $2,937,274 in 2024, reflects a robust 105.9% nine-year appreciation. The post-2020 surge of 64.2% underscores the growing premium placed on spacious, suburban luxury living.
Example of a typical 2024 median-priced home in Cherry Hills Village
This 6-bedroom, 6-bathroom, 7,012 sq. ft. home in Cherry Hills Village is listed for $3,495,000, offering over an acre of land with no HOA and adjacent to two open-space parks. The property features a vaulted great room with a stone fireplace, a large back deck with a 2023 Wind River Spas hot tub, and floor-to-ceiling windows providing stunning views of the surrounding nature. Additional highlights include a private in-law suite, a high-tech smart home system, an elevator, zoned heating and cooling, and proximity to top schools and the Highline Canal trail, making it a rare and versatile opportunity in a prestigious location.
Where is Cherry Hills Village on the map?
Cherry Hills Village, CO 80113, is an affluent suburb located in Arapahoe County, just south of downtown Denver. Known for its expansive estates, equestrian properties, and prestigious schools, it offers a blend of luxurious living and natural beauty. With access to the Highline Canal, private country clubs, and proximity to cultural and business hubs, Cherry Hills Village is a sought-after community for families and professionals.
3. Mountain Village, Colorado
This exclusive ski resort community has emerged as one of Colorado’s most dynamic luxury markets. Starting at $907,534 in 2015, values climbed to $1,225,301 by 2020, before soaring to $2,276,967 in 2024. The remarkable 150.9% growth over nine years, including an 85.8% jump since 2020, highlights the increasing allure of mountain resort living among affluent buyers.
4. Bow Mar, Colorado
Nestled in the Denver metropolitan area, Bow Mar exemplifies the strong performance of exclusive suburban enclaves. Property values rose from $1,015,292 in 2015 to $1,315,598 in 2020, reaching $2,118,234 by 2024. This represents a solid 108.6% nine-year appreciation, with a substantial 61% gain in the post-2020 period, reflecting the sustained demand for luxury suburban properties.
5. Snowmass Village, Colorado
The transformation of Snowmass Village reads like a case study in resort market dynamics. From a 2015 baseline of $889,865, values moved to $987,708 in 2020, before exploding to $2,043,715 in 2024. This represents a dramatic 129.7% nine-year appreciation, with an extraordinary 106.9% gain since 2020, marking one of the most aggressive growth rates in recent years.
Example of a typical 2024 median-priced home in Snowmass Village
This 2-bedroom, 2-bathroom Crestwood condo, spanning 1,008 sq. ft., is listed for $2,200,000 and has been fully remodeled in December 2023 with a sleek contemporary design. The corner unit features a wrap-around covered patio with southwest views, a modern kitchen with high-end appliances and quartz countertops, radiant heated bathroom floors, custom built-ins, and an electric fireplace. Offered turnkey furnished, the condo provides access to Crestwood’s amenities, including a pool, hot tubs, ski services, and a fitness center, making it an ideal luxury retreat or investment property.
Where is Snowmass Village on the map?
Snowmass Village, CO 81615, is a premier mountain resort community located in the heart of the Rocky Mountains, just 9 miles from Aspen. Renowned for its world-class skiing and snowboarding, it boasts one of the largest ski areas in Colorado, along with year-round activities like hiking, biking, and festivals. The village offers a blend of luxury accommodations, dining, and outdoor recreation, making it a sought-after destination for both residents and visitors.
6. Telluride, Colorado
The historic mining town turned luxury ski destination continues to set new benchmarks in property appreciation. Beginning at $813,170 in 2015, values increased to $1,125,935 by 2020, before reaching $2,026,355 in 2024. This impressive 149.2% growth over nine years, including an 80% surge since 2020, reflects Telluride’s evolution into one of Colorado’s most coveted luxury markets.
Example of a typical 2024 median-priced home in Telluride
This 2-bedroom, 2-bathroom condominium, spanning 863 sq. ft., is listed for $1,995,000 and is ideally located on Oak Street, just one block from the Telluride Gondola and Main Street. Remodeled and furnished by RIVER+LIME Interiors, the property showcases meticulous attention to detail, combining luxury with comfort. Its prime location and elegant design make it a perfect retreat for enjoying Telluride’s vibrant lifestyle and outdoor activities.
Where is Telluride on the map?
Telluride, CO 81435, is a historic mountain town nestled in a box canyon in the San Juan Mountains of southwest Colorado. Known for its world-class skiing, vibrant festivals, and stunning alpine scenery, it combines outdoor adventure with cultural richness. With its charming downtown, luxury accommodations, and access to both nature and arts, Telluride is a sought-after destination for visitors and residents alike.
7. Edwards, Colorado
Leading the pack in terms of appreciation, Edwards stands as a testament to the transformative power of Colorado’s luxury market forces. From a relatively modest $647,059 in 2015, values climbed to $766,586 by 2020, before skyrocketing to $1,743,323 in 2024. This remarkable journey represents a market-leading 169.4% nine-year appreciation and an extraordinary 127.4% gain since 2020.
Example of a typical 2024 median-priced home in Edwards
This 4-bedroom, 3-bathroom single-family home, spanning 2,926 sq. ft., is listed for $1,975,000 and sits on a desirable corner lot next to the Homestead Court Club. The home features multiple living areas, private decks off three bedrooms, an expansive back deck, and a flagstone patio, perfect for entertaining. With a 2-car garage, ample driveway parking, and easy access to club amenities, hiking trails, restaurants, and world-class skiing, it offers an ideal combination of charm, convenience, and versatility.
Where is Edwards on the map?
Edwards, CO 81632, is a vibrant mountain community located in the Vail Valley of Eagle County, just west of Vail and Beaver Creek. Known for its mix of outdoor recreation and upscale living, Edwards offers easy access to world-class skiing, hiking, and fishing, as well as a thriving downtown area with restaurants, boutiques, and cultural events. Surrounded by stunning natural beauty, it serves as both a serene residential hub and a gateway to Colorado’s iconic alpine lifestyle.
8. Columbine Valley, Colorado
This prestigious Denver suburb showcases the steady appreciation characteristic of established luxury communities. Starting at $799,538 in 2015, values rose to $1,054,585 by 2020, ultimately reaching $1,635,855 in 2024. The 104.6% nine-year growth and 55.1% post-2020 appreciation reflect the sustained demand for premium suburban properties in the Denver metropolitan area.
9. Crested Butte, Colorado
The remote charm of Crested Butte has translated into remarkable property appreciation. From $546,427 in 2015, values escalated to $882,850 by 2020, before climbing to $1,407,310 in 2024. This represents an impressive 157.5% growth over nine years, with a solid 59.4% gain since 2020, highlighting the premium now placed on exclusive mountain destinations.
Example of a typical 2024 median-priced home in Crested Butte
This historic 3-bedroom, 1-bathroom home, spanning 1,376 sq. ft., is listed for $1,300,000 and is located on a prime block in downtown Crested Butte. Offering views of Mt. Crested Butte and Gothic, the home is steps from Elk Avenue’s shops and dining, with generously proportioned spaces ready for redevelopment. With the potential to add 804 FAR above grade and additional finished square footage with a new basement, it’s a rare opportunity for expansion and customization in a sought-after location.
Where is Crested Butte on the map?
Crested Butte, CO 81224, is a picturesque mountain town located in Gunnison County, nestled in the Elk Mountain Range of central Colorado. Known as the “Last Great Colorado Ski Town,” it offers world-class skiing in the winter and exceptional mountain biking, hiking, and wildflower viewing during the summer. With its charming historic downtown, vibrant arts scene, and proximity to outdoor adventures, Crested Butte is a sought-after destination for both recreation and year-round living.
10. Vail, Colorado
The world-renowned ski destination presents an interesting case in luxury market dynamics. Beginning at $226,927 in 2015, values increased to $295,925 by 2020, before reaching $1,729,853 in 2024. While its 83.2% nine-year appreciation and 40.4% post-2020 growth might seem modest compared to its peers, these figures still represent substantial gains in one of Colorado’s most established luxury markets.
Example of a typical 2024 median-priced home in Vail
This 3-bedroom, 3-bathroom townhouse, spanning 1,378 sq. ft. and listed for $1,795,000, is located in East Vail and has been recently updated with new kitchen appliances, carpet, and flooring. Situated within the Vail Racquet Club, it offers access to a wide range of amenities, including a year-round heated lap pool, hot tubs, fitness classes, tennis and pickleball courts, and on-site dining. Surrounded by tranquil Gore Creek and scenic waterfalls, the property is conveniently close to the Vail shuttle, making it ideal for both personal use and rental opportunities.
Where is Vail on the map?
Vail, CO 81657, is a world-renowned mountain resort town located in the heart of the Colorado Rockies. Home to Vail Ski Resort, one of the largest and most famous ski destinations in North America, it offers unparalleled winter sports and year-round outdoor recreation. With its European-inspired Vail Village, upscale dining, boutique shopping, and stunning alpine scenery, Vail is a premier destination for both luxury living and adventure seekers.
