Luxury Home Sales - 4th Quarter 2010 - Denver
The luxury market for the last quarter 2010 had 101 sales ranging from $1.2M to $3.95M and the average price being $1.475M.
Homes listed above the $1M had an average days on market of 279 days.
The sellers in this market were able to close their properties with 76.86% of the original list price. This is the biggest eye opener of all the data.
These sales included the Denver Metro area.
LUXURY HOME SALES October through December 2010
Joan, your luxury home stats are refreshing to see from my neighbor north of Santa Fe. It appears these number show new confidence in the market. Was this a surprise over your 3rd Quarter? Emily
Wow Joan, they really are off aren't they on the higher end...love the picture of that house...i could roller blade around it & never have to go to the gym!!
Joan
In our market, the luxury end is bearing the brunt of the economy. We are still very strong in the starter and middle to upper priced homes, but the luxury market is challenged.
Emily, sales were still strong in the 4th quarter! 3rd qtr had 120 Metro sales from $1M to $5.25, with the average being $1,896,000. The avg DOM was 212 3rd Qtr, up 67 days. THE big deal was 3rd quarter sale price was 81.38% of orig list! The last quarter is usually the slowest, so maybe some desperate sellers?
Ginny, I would have LOVED to sell that house! Sales are encouraging, and the luxury market is picking up! I have never tried to roller blade!
Scott, for the last couple of years, luxury homes sat, and just within the last year or so have picked up!
Great report on luxury sales Joan. We recently had a home go under contract for over $2M, but it sure was on the market for a long time.
Joan, Interesting info on the luxury market. We too collect data on the stats of luxury homes sold in our Long Island area and find the luxury market is alive and moving!
Tamara, it is fun to play in the luxury end, but the median priced homes are easier to sell!
Larry & Sheila, I bet your have LOTS of stats on Long Island to share in the luxury end of things! There are some GREAT listings there!
Joan, the fact that in the 4th quarter, Denver luxury homes sold for 76.86% of their list price also made me think, "Wow!" Perhaps there were some desperate sellers who contributed to this outcome. Great market report...it's nice to see one focusing on luxury homes for a change! :)
Leilani
Leilani, I do think there are many executives that have lost their positions, and now stuck with very high mortgages, and cannot pay. They will sell at what they are offered!
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