The average luxury home in Longmont sold for nearly 29 percent more in the second quarter of 2016 than it did in the same period last year, according to an analysis by Redfin.
Longmont’s 28.7 percent increase was second only to Stuart, Florida, where the average luxury home price increased 139.4 percent. So this summer, luxury homes in Longmont sold for an average of $1,358,000.
This is unacceptable because it suggests my mom was right all those times she said that Longmont was changing while I was away in D.C.. Fine mom, you were right again.
Redfin hypothesizes that the Longmont’s luxury homeowners are “most likely full-time residents, rather than foreign investor types.” I hypothesize that they are foreign investors from the far-off land of Boulder.
Closer to Denver, Highlands Ranch also ranked among the luxury home market winners. There, the average luxury home price increased 11.7 percent, for an average price of $1,039,000.