Luxury Home Sales - Denver, CO - March 2016

Luxury Home Sales - Denver, CO - March 2016

The luxury market in the Denver metro area saw an increase in sales for the month of March.  We are seeing many more cities across the metro area attaining the million dollar mark with the home values increasing.   Can you see yourself waking every morning with these stunning views in Evergreen?

 **Photo courtesy of REColorado

Days on market significantly decreased from 91 days in February to 40 in March.   The average sales price decreased from $1,382,500 to $1,321,920.   

There are 878 current active luxury listings in the Denver Metro area, which is an increase over last month's active listings (811).    There are two short sale properties available and two bank foreclosures available.   There are 252 properties listed at $1 million+ under contract as of today.

Looking for views from your property?   

                                                          ** Photos courtesy of REColorado

Looking at the sales in March 2016, there was one short sale and no bank foreclosures sold and seven 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 as home values increase.   

Two homes remained on the market for longer than a year, with both homes lingering for around 500 days.   On the opposite end of the spectrum, there were twenty-four homes that sold in less than a week.   THIS EQUATES TO  28% of the luxury market went under contract in less than a week!   Each month we see 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

A gorgeous custom home in Cherry Hills Village took the highest luxury sale spot in the Denver metro area for March 2016 and sold for $5,300,000 that was built in 2003.   The home has 6 bedrooms, 11 bathrooms, 13,455 total square feet with a 5 car garage on 2.13 acres.    This french chateau was sold in 186 days.  

Here is the data for luxury home sales for the second half 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!