The luxury market in the Denver metro area is enjoying strong sales and saw another increase in sales over the previous month. With home values showing heavy increases, we are seeing more and more homes in the Metro Area attaining the million dollar mark.
It is the time of year we all love to spend time outdoors and enjoy the back patio, have you thought about upgrading your outdoor space for entertaining?
Days on market increased slightly from 29 days in March to 33 days in April. The average sales price increased slightly from $1,237,500 in March to $1,275,000 in April.
There are 783 current active luxury listings in the Denver Metro area, with an average of 73 days on market. There are no short sales and one bank foreclosure in Littleton listed at $2,291,000. There are 271 properties listed at $1million and above under contract as of today.
Looking for a home a top a mountain?
Looking at the sales in April 2017, there were no short sales sold, and one bank foreclosures sold, with 13 new builds sold.
Here are the sale by City within the Denver metro area -
(Boulder is not included)
One home remained on the market for just over a year. On the opposite end of the spectrum, there were 27 homes that sold in less than a week. A couple of these homes were sold prior to hitting the market, and were entered into MLS only for appraisal purposes. That is a serious amount of homes sold quickly!
The highest sale in the Denver metro area was $3,475,000 in The 7th Avenue Historic District in Denver and sold in 138 days and was built in 1908. This custom home has 6,444 total square feet with four bedrooms, eight bathrooms and a 2 car garage all located on regular lot with a serene setting.
Here is the data for luxury home sales for the second half of 2016 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. Sale sin the month of June 2015 surpassed every month in sales for a few years. (With Boulder being removed, as we no longer are able to get this data, sales will show a decrease.)
If you are looking to buy or sell a luxury home in the Denver metro area, please give me a call, or if you like any information on attached luxury homes (which are not included in this report).
Comments (18)Subscribe to CommentsComment