Luxury Home Sales - Denver, CO - June 2015

Luxury Home Sales - Denver, CO - June 2015

Spring and summer have been great seasons for the luxury market with June seeing a huge boost in luxury sales in the Denver metro area.

Days on market decreased from 117 days in May to 87 in June.   The average sales price decreased from $1,581,871 to $1,404,325.   

There are 938 current active luxury listings in the Denver Metro area, which is an increase over last month's active listings (900).    There is one short sale property  available and no bank foreclosures available.    Nice to see the distressed market all but depleted.    There are 239 properties listed at $1 million+ under contract as of today.

                                                         ** Photos courtesy of Metrolist

 Looking at the sales in June 2015, there was no short sales and no bank foreclosures sold and fourteen new builds sold.

 Here are the sales by City within the Denver metro area -

Three homes remained on the market for quite a while, with one  for over three and a half years (in Sedalia).    On the opposite end of the spectrum, there were forthy-eight homes that sold in less than a week.   THIS EQUATES TO  32% of the luxury market went under contract in less than a week!   A few homes were sold without being put into MLS, and entered only for appraisal purposes.   Homes in the luxury market are still moving quickly!   The month of June set a new record for the number of luxury home sales!

This Cherry Hills Village home took the highest luxury sale spot in the Denver metro area for June 2015 and sold for $3,850,000 that was built in 2006.    The home boasts 5 bedrooms, eight bathrooms, 10,957 total square feet with a 4 car garage on .98 acres.     This home was on the market for only 20 days.     **Photo courtesy of Metrolist

Here is the data for luxury home sales for the second half of 2014 and the first of 2015 to show the comparable activity month by month at a glance.   As expected, the summer is the time most homes (including luxury homes) are sold.   Sales in the month of July 2014 surpassed every month in sales for a few years, but now June surpassed last July with number of sales! 

If you are looking to buy or sell a luxury home in the Denver metro area, please give me a call, or if you would like any information on attached luxury homes!