Luxury Home Sales - Denver, CO - May 2017

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 

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. 

Luxury outdoor space in Denver

 

 

 

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 decreased slightly from 33 days in April to 29 days in May.  The average sales price remained the same at $1,275,000 between April and May 2017.

 

There are 822 current active luxury listings in the Denver Metro area, with an average of 80 days on market.   These homes listed were built from 1886 to new construction.   There are no short sales and no bank foreclosures on the market currently.   There are 227 properties listed at $1million and above under contract as of today.

 

Looking for a home a top a mountain?

 

 

 

Looking at the sales in May 2017, there was one short sales sold, and no 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 over two and a half years.   Only 7 of the homes sold in May remained on the market longer than one year.   On the opposite end of the spectrum, there were 40 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 $5,850,000 in Denver Country Club high on a hill with excellent views and sold in 16 days and was built in 2005.  This custom home has 11,716 total square feet  with five bedrooms, nine bathrooms and a 3 car garage all located on .36 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.  Sales in the month of July 2017 surpassed every month in sales for a few years.   Even with Boulder removed, we almost surpassed this number for the month May 2017.   (With Boulder being removed, as we no longer are able to get this data, sales will show a decrease.)

 

Luxury sales - gold cart Dec 2016.PNG

 

 

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).

  

 

 

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Rainmaker
2,190,677
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

No short sales and no foreclosures is fabulous news in the luxury home sales market in Denver. Means your market is super strong and healthy, Joan! Although your average sales price gets a pretty nice home in the high-end market. If you were in Hella's market, you could buy a one bedroom shack.

Jun 26, 2017 03:07 PM #1
Rainmaker
3,327,950
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Looks like time to hop aboard the luxury market....and travel to the high end !

Jun 26, 2017 03:38 PM #2
Rainmaker
4,268,850
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents you are right, Hella's market is super crazy.  Maybe a one stall garage.

Jun 26, 2017 04:51 PM #3
Rainmaker
4,268,850
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sally & David, with our homes valuing about 10% per year, buying a luxury home now is a good decision.

Jun 26, 2017 04:52 PM #4
Ambassador
3,984,754
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

You know the luxury market and will be attracting lots of luxury buyers with you post, Joan.

Jun 26, 2017 06:55 PM #5
Rainmaker
4,432,589
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Jun 27, 2017 03:03 AM #6
Rainmaker
4,798,182
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Joan.  Thanks for keeping us updated with the luxury real estate market in Denver.

Jun 27, 2017 04:24 AM #7
Rainmaker
3,552,897
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Joan - while expensive, that highest priced Denver home is practically a bargain when compared to prices in some Southern California communities.   Nice overview of the luxury real estate market in the Denver area.  

Jun 27, 2017 08:09 AM #8
Rainmaker
4,268,850
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Debbie, it sure it getting busier in the over $1million homes!  

Jun 28, 2017 06:27 AM #9
Rainmaker
4,268,850
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gita, thank you for your continued support! 

Jun 28, 2017 06:28 AM #10
Rainmaker
4,268,850
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gabe, like you, love doing the market reports to see how each sector of our market is doing monthly.

Jun 28, 2017 06:28 AM #11
Rainmaker
4,268,850
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, as imagined, your market is much more expensive than Denver!  

Jun 28, 2017 06:28 AM #12
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Rainmaker
4,268,850

Joan Cox

Denver Real Estate - Selling One Home at a Time
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