Luxury Home Sales - January 2012 - Denver Colorado
Sales of luxury homes in the Denver metro area over $1 million decreased in January over December by four sales. Inventory is down over December's active listings from 642 to 557 detached single family homes listed above $1,000,000. Of these active listings, two are short sales, and only one bank owned property is active.
Luxury Homes in the Denver metro area currently under contract are 63, a monumental increase over any month in 2011! Only one short sale and four bank owned properties are showing under contract.
Of the 25 sold properties that sold in January 2012, three were short sales, one was bank owned, four were new construction sales and 17 regular sales. 24% or 6 of these sales were paid for with CASH, interestingly enough, there was one owner carry, which I have not seen for years. The remainder of these sales were purchased with conventional loans.
Here are the sales by City within the Denver metro area -
The highest sale in Denver for the month of January 2012 was in Denver proper sold for $2,562,500 which was a Tuscan custom home with 4 bedrooms, 8 bathrooms and a 3 car garage and 7,050 finished square feet in the heart of Cherry Creek.
The largest home sold with the most square footage sold in Cherry Hills Village for $2,162,500 and sported 9,675 square feet finished - 4 bedrooms, 6 bathrooms and a 3 car garage.
The smallest home sold with the least amount of square footage sold in Denver for $1,020,000 and had 3,642 finished square feet and had 4 bedrooms, 4 bathrooms and only a 2 car garage.
I have been tracking statistics for the last few months showing luxury market sales and find they are holding strong in the Denver metro area. With 68 currently under contract, the statistics for February will be fantastic!
If you are looking to buy or sell a luxury home in the Denver metro area, please give me a call!