Luxury Home Sales - Denver, CO - August 2015

Luxury Home Sales - Denver, CO - August 2015

Spring and summer have been great seasons for the luxury market with August seeing a slight decline in luxury sales in the Denver metro area.

Days on market decreased from 93 days in July to 85 in August.   The average sales price decreased from $1,547,350 to $1,433,530.   

There are 1009 current active luxury listings in the Denver Metro area, which is an increase over last month's active listings (983).    There is one short sale property  available and one bank foreclosure available.    Nice to see the distressed market all but depleted.    There are 167 properties listed at $1 million+ under contract as of today.

                                                          ** Photos courtesy of REColorado

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

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

We are seeing more and more cities around the Denver Metro area seeing $1,000,000 sales and home values increase.   

Five homes remained on the market for longer than a year, with one home lingering for 667 days.   On the opposite end of the spectrum, there were thirty-one homes that sold in less than a week.   THIS EQUATES TO  24% 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!  

**Photo courtesy of REColorado

This Cherry Hills Village home took the highest luxury sale spot in the Denver metro area for August 2015 and sold for $4,150,000 that was built in 2004.   This spa retreat is a perfect place to entertain!   The home boasts 6 bedrooms, 11 bathrooms, 9,052 total square feet with a 6 car garage on 1.05 acres.     This home was sold the day it hit the market - ZERO days on market. 

Here is the data for luxury home sales for 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 June 2015 surpassed every month in sales for a few years.

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!