Denver Luxury Home Market Update - May 2018

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

 

A Luxury Home can be identified differently in cities across the Country, but in Denver, my Luxury blog posts will report on detached single family homes listed in the Denver metro area over $1 million.   Some have mountain and/or city views, some back to a golf course or have water views.  (however, we don't have much water)  Some are upgraded with products from the around the world, and some have expansive square footage or on acreage.     Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.   

 

Here is how the luxury market fared for the month of May 2018 -

Total sales - 188 homes ranging from $1,000,000 to $4,400,000 (last month was 176 homes)

Average Days on Market - 19 days (last month was 16)

Average price per SF - $255.825 (last month was $390.51)

These homes were built from 1889 to 2018

The highest priced home sold was $4,400,000 in Denver Metro and was in the Cherry Hills Village neighborhood

There were no short sales and were no bank foreclosures sold this month.

 

**photo provided by REColorado

 

This was the highest sale for the month of May 2018, and was $4,400,000 in Cherry Hills Village.   This custom home was built in 2001 with six bedrooms, eleven bathrooms and a 5 car garage on 2.28 acres.    This home has a total of 13,737 square feet and was sold in 319 days.

 

Looking for a home on acreage and private?    With mountain views?    Or would like to see what homes are for sale over $1,000,000?   There are current no bank owned properties for sale - but check back to see when they come on the market  bank foreclosure for sale.

 

    ** photo courtesy of REColorado

 

Today, you will find 747 homes for sale in the Denver metro area listed over $1,000,000 up to $20,000,000.   They have been on the market for an average of 76 days and these homes were built from 1883 to 2019.

 

There are 265 homes currently under contract over $1,000,000 up to $7,950,000 with an average 20 days on market.    These homes were built from 1888 to 2019.

 

Today is the first day of Summer, and if you have thought about a home with mountain views and stellar outdoor entertainment areas, give me a call.  

 

 

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Metro Brokers - House to Home, Inc.House to Home

GRI, CRS, CNE, e-Pro  

Broker/Owner

Joan@JoanCox.com

720-231-6373

 

Denver Real Estate

Homes for Sale in Denver

Neighborhoods in Denver

 
  A Denver Metropolitan Realtor

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Rainmaker
1,419,714
Yolanda Cordova-Gilbert
Sitterle Homes - Richmond, TX
Sitterle Homes

Joan,

 Great luxury market update for Denver Metro area. Those homes look really good no surprise there is no foreclosures Denver is doing great!

Jun 21, 2018 01:03 PM #1
Ambassador
2,751,163
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

You have some beautiful luxury properties in Denver and I hope you represent most of them Joan 

Jun 21, 2018 10:06 PM #2
Rainmaker
4,318,147
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 informed about the luxury real estate market in Denver CO.

Jun 22, 2018 04:24 AM #3
Rainmaker
4,660,581
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families on the move will appreciate your local real estate market reports.

Jun 22, 2018 05:22 AM #4
Rainmaker
2,900,051
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Joan - I think it is important for reports such as this to include the various parameters as "luxury" is not so clearly defined This post is quite educational and that's a good (very good) thing.

Jun 22, 2018 06:48 AM #5
Rainmaker
3,577,575
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Yolanda, I was rather surprised of no foreclosures, we were seeing one or two.

Jun 22, 2018 07:57 AM #6
Rainmaker
3,577,575
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Paul, I have a few! 

Jun 22, 2018 07:57 AM #7
Rainmaker
3,577,575
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gabe, thanks for all your support.

Jun 22, 2018 07:58 AM #8
Rainmaker
3,577,575
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Hope they do Roy! 

Jun 22, 2018 07:58 AM #9
Rainmaker
3,577,575
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, I did add that a while ago, to definie what luxury means in our market.

Jun 22, 2018 07:58 AM #10
Rainmaker
749,856
Joyce Marsh, Daytona Beach Florida
Award Winning Luxury Expert, Premier Sotheby's International Realty - Daytona Beach, FL
Presenting The Finest in Florida Luxury Living...

Interesting update for the Denver Colorado Luxury Real Estate market.  Buyers and Sellers need the latest information available to make educated and informed decisions when it comes to buying and selling real estate in such a hot market area. They would be smart to consult with a local expert like yourself before making any decisions.

Jun 27, 2018 07:50 AM #11
Rainmaker
3,577,575
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thanks Joyce, and I enjoy doing these reports too, and getting updated monthly on how the market is doing.

Jun 27, 2018 09:59 AM #12
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Rainmaker
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Joan Cox

Denver Real Estate - Selling One Home at a Time
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