Luxury Homes Sales - March 2012 - Denver, CO

Sales of luxury homes in the Denver metro area over $1 million is experiencing strong sales due to an early warm spring.     With 35 properties sold in March, this was a 44% increase in sales over the previous month.    Many sellers are listing their homes this time of year, and inventory has increased from 648 last month to 718 this month (up to today).    These numbers are for detached single family homes only.    

There are 8 listings showing pending status and 91 under contract.  (Pending status is a verbal approval from a bank either on a short sale or a bank foreclosure.)    There are 11 active bank foreclosures and 14 short sale opportunities.

Of the sales in March 2012, six were paid for with Cash, three were bank foreclosures, one was a short sale and three were new construction sold by the builder.

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

There was one sale in Evergreen that remained on the market for 612 days, which inflates the days on market much longer that normal for that area.     There were nine homes that sold in under one week, some sold with zero days on market!    

The highest luxury sale for March 2012 in the Denver metro area was in Cherry Hills Village.    This intimate retreat oozed European luxury and sold in only 14 days for $4,500,000.      Custom built in 2006 featuring six bedrooms, nine bathrooms, 10,172 finished square feet, a four car garage and all nestled on an acre of land.

Photo of this home sold was courtesy of Denver Metrolist.

Here is the data for luxury home sales over the last few months to show the activity month by month at a glance.    We are entering into the busiest time of year for sales, and expect the luxury market to show large increases.

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!