For anyone looking at Colorado real estate, I’ve analyzed the 25 most expensive markets in the state according to the Zillow Home Value Index data.
These locations represent the highest-priced real estate in Colorado, with most seeing their home values more than double in the past decade – some with appreciation rates approaching 200%.
Notable Observations: The most dramatic price increases occurred in mountain resort towns, with Telluride leading at a staggering 199.4% increase from 2014 to 2024. This means a home worth $500,000 in 2014 would now be valued at nearly $1.5 million.
The Denver metro area’s luxury suburbs – Cherry Hills Village, Greenwood Village, and Columbine Valley – maintain their positions among the state’s most expensive markets, but showed relatively moderate appreciation compared to resort towns.
The COVID-19 pandemic appears to have accelerated price growth in many of these markets, with some towns showing more appreciation in the five years from 2019 to 2024 than in the previous five years. Edwards, for example, saw an extraordinary 116.4% increase in just five years.
These markets represent some of the most challenging territory for homebuyers in Colorado, as the median home values continue to appreciate at rates that outpace typical income growth.
Even the more “affordable” towns on this list, like Larkspur and Lone Tree, have median home values that are more than nine times the average American’s savings.
This data suggests that buyers seeking housing affordability in Colorado should look beyond these 25 markets to find more budget-friendly options.
Here’s the list.
1. Larkspur, Colorado
Nestled in Douglas County, Larkspur has seen its median home values steadily climb from a modest $459,434 in 2014 to $635,229 in 2019, before reaching $931,642 in 2024. This charming town demonstrated impressive growth with a 102.8% increase over the decade from 2014 to 2024, while the five-year growth from 2019 to 2024 came in at 46.7%, showing the acceleration of property values in this Front Range community.
2. Lone Tree, Colorado
The suburban paradise of Lone Tree has transformed its real estate landscape, with median home values evolving from $512,869 in 2014 to $666,050 in 2019, ultimately reaching $933,003 in 2024. This upscale community registered an 81.9% appreciation over the ten-year span from 2014 to 2024, while showing a solid 40.1% growth in the last five years from 2019 to 2024.
3. Frisco, Colorado
This beloved mountain town’s real estate journey tells a compelling story, starting at $417,051 in 2014, climbing to $661,471 in 2019, and peaking at $941,888 in 2024. Frisco’s property values have soared an impressive 125.8% from 2014 to 2024, with a more moderate but still substantial 42.4% increase from 2019 to 2024.
4. Boulder, Colorado
The vibrant university town of Boulder has maintained its appeal, with median home values starting at $499,700 in 2014, rising to $734,556 in 2019, and reaching $962,534 by 2024. This sought-after city recorded a 92.6% increase over the decade from 2014 to 2024, while showing a more modest 31.0% growth from 2019 to 2024.
5. Eagle, Colorado
A hidden gem in Eagle County, this town has witnessed remarkable growth from its 2014 median value of $389,973, through $559,671 in 2019, to an impressive $1,015,350 in 2024. Eagle’s property values have skyrocketed by 160.4% from 2014 to 2024, with a robust 81.4% surge in the last five years alone.
6. Franktown, Colorado
This rural paradise has experienced substantial appreciation, with median home values starting at $491,750 in 2014, increasing to $725,485 in 2019, and reaching $1,024,630 by 2024. The decade brought a 108.4% increase to Franktown’s property values, while the five-year growth from 2019 to 2024 showed a healthy 41.2% gain.
7. Foxfield, Colorado
Tucked away in Arapahoe County, Foxfield demonstrates the strength of Colorado’s luxury market, beginning at $519,370 in 2014, advancing to $730,121 in 2019, and achieving $1,079,853 in 2024. This exclusive enclave has seen property values surge 107.9% over the decade, while maintaining a solid 47.9% appreciation from 2019 to 2024.
8. Niwot, Colorado
The charming community of Niwot showcases remarkable market resilience, with median values progressing from $528,176 in 2014 to $753,006 in 2019, before reaching $1,079,926 in 2024. The town’s real estate market demonstrated impressive strength with a 104.5% gain over ten years and a respectable 43.4% increase in the last five years.
9. Genesee, Colorado
Perched in the foothills, Genesee’s property values tell a story of steady appreciation, moving from $536,851 in 2014 to $729,872 in 2019, and ultimately reaching $1,080,266 in 2024. This mountain community posted a solid 101.2% increase over the decade, while achieving a 48.0% gain in the five years from 2019 to 2024.
10. Breckenridge, Colorado
The world-renowned ski destination of Breckenridge continues to attract luxury buyers, with values rising from $526,266 in 2014 to $825,599 in 2019, before climbing to $1,131,955 in 2024. This popular resort town recorded a strong 115.1% appreciation over ten years, while showing a more moderate 37.1% growth in the last five years.
11. Steamboat Springs, Colorado
Another premier ski destination, Steamboat Springs has seen phenomenal growth, with median values jumping from $467,700 in 2014 to $661,500 in 2019, before soaring to $1,274,782 in 2024. The town’s remarkable 172.6% decade-long appreciation and 92.7% five-year growth reflect its increasing desirability among luxury buyers.
12. Carbondale, Colorado
This artistic mountain community has experienced dramatic value increases, starting at $507,499 in 2014, rising to $701,101 in 2019, and reaching $1,316,970 in 2024. Carbondale’s property values have appreciated an impressive 159.5% over the decade, while posting a robust 87.8% gain in the last five years.
13. Avon, Colorado
The gateway to Beaver Creek Resort has seen its real estate market flourish, with median values climbing from $555,725 in 2014 to $707,175 in 2019, before reaching $1,352,032 in 2024. Avon’s property values have demonstrated remarkable strength with a 143.3% increase over ten years and an impressive 91.2% gain from 2019 to 2024.
14. Basalt, Colorado
This picturesque mountain town has experienced substantial growth in its real estate market, starting at $576,102 in 2014, increasing to $745,265 in 2019, and achieving $1,368,371 in 2024. Basalt’s property values have risen by 137.5% over the decade, while posting a strong 83.6% appreciation in the last five years.
15. Crested Butte, Colorado
The historic mining town turned ski resort has seen dramatic appreciation, with median values rising from $508,272 in 2014 to $843,786 in 2019, before climbing to $1,398,482 in 2024. This beloved mountain destination has experienced a remarkable 175.1% increase over ten years, while showing a solid 65.7% growth from 2019 to 2024.
16. Greenwood Village, Colorado
This affluent Denver suburb continues to attract luxury buyers, with median values increasing from $705,124 in 2014 to $901,949 in 2019, before reaching $1,401,673 in 2024. Greenwood Village has posted a strong 98.8% appreciation over the decade, while maintaining a healthy 55.4% growth in the last five years.
17. Columbine Valley, Colorado
This exclusive enclave has demonstrated consistent growth, with property values rising from $777,098 in 2014 to $1,034,658 in 2019, before achieving $1,652,988 in 2024. The town’s real estate market has appreciated 112.7% over ten years, while posting a solid 59.8% gain from 2019 to 2024.
18. Edwards, Colorado
The unincorporated community of Edwards has seen extraordinary growth, with median values surging from $625,350 in 2014 to $805,602 in 2019, before skyrocketing to $1,743,675 in 2024. This Vail Valley gem has experienced a remarkable 178.8% increase over the decade, while posting the highest five-year growth rate on our list at 116.4%.
19. Vail, Colorado
The iconic ski resort town of Vail continues its upward trajectory, with median values climbing from $784,024 in 2014 to $1,006,711 in 2019, before reaching $1,749,724 in 2024. This world-famous destination has seen property values appreciate by 123.2% over ten years, while showing a strong 73.8% growth from 2019 to 2024.
20. Telluride, Colorado
The stunning mountain town of Telluride leads in appreciation rates, with median values soaring from $665,017 in 2014 to $1,097,725 in 2019, before reaching $1,990,743 in 2024. This historic mining town turned luxury resort has posted the highest decade-long appreciation at 199.4%, while maintaining a robust 81.4% growth in the last five years.
21. Snowmass Village, Colorado
This premier ski resort community has seen remarkable growth, with median values rising from $863,685 in 2014 to $987,757 in 2019, before climbing to $2,038,971 in 2024. Snowmass Village has experienced a dramatic 136.1% increase over the decade, while posting an impressive 106.4% appreciation from 2019 to 2024.
22. Bow Mar, Colorado
This exclusive lakeside community has maintained its position among Colorado’s most expensive markets, with values increasing from $973,788 in 2014 to $1,274,488 in 2019, before reaching $2,129,513 in 2024. Bow Mar’s property values have appreciated 118.7% over ten years, while showing a solid 67.1% growth in the last five years.
23. Mountain Village, Colorado
The luxury sister community to Telluride has seen extraordinary appreciation, with median values climbing from $795,214 in 2014 to $1,146,069 in 2019, before soaring to $2,186,336 in 2024. Mountain Village has experienced a remarkable 174.9% increase over the decade, while posting an impressive 90.8% growth from 2019 to 2024.
24. Cherry Hills Village, Colorado
This prestigious Denver suburb continues to command premium prices, with median values rising from $1,387,939 in 2014 to $1,729,501 in 2019, before reaching $2,943,699 in 2024. Cherry Hills Village has seen property values appreciate by 112.1% over ten years, while maintaining a strong 70.2% growth from 2019 to 2024.
25. Aspen, Colorado
The crown jewel of Colorado’s luxury real estate market, Aspen tops the list with median values starting at $1,521,202 in 2014, rising to $2,001,336 in 2019, before reaching an astounding $3,410,478 in 2024. This world-renowned resort town has experienced a remarkable 124.2% increase over the decade, while posting a substantial 70.4% appreciation from 2019 to 2024.
