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 (snow-capped now) and/or city views, some back to a golf course or have water views all to compliment one's lifestyle. (however, we don't have much water) Some are updated with products from 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.
We are in the heart of winter, where the ground is covered (and frozen) and still have some beautiful listings for sale. Need a game room/media room for sports events, an updated kitchen or a fabulous outdoor entertainment area?
Here is how the luxury market fared for the month of December 2019 -
Total sales - 129 homes ranging from $1,000,000 to $11,625,000 (last month was 131 homes, so not much difference for Dec)
Average Days on Market - 79 days (increased from 69 days last month)
Average price per SF (Total) - $282.93 (last month was $270.59)
These homes were built from 1905 to 2019
The highest-priced home sold was $11,625,000 in the Denver Metro and is in Cherry Hills Village. This stunning home was built in 1993, on pristine grounds of 8.72 acres with a 10-car garage. This home has 6 bedrooms, 11 bathrooms, and 23,866 total finished square feet. this home was on the market for only 94 days. (but has been listed in prior years)
There were no short sales sold, and one bank foreclosure sold this month in Greenwood Village for $1,571,000.
This could be an interesting year for real estate at least in the last quarter due to the election. Rates are expected to remain stable.
Looking for a home on acreage and private? With mountain views? Or would you like to see what homes are for sale over $1,000,000? There are currently three bank-owned properties for sale, one in Denver listed for $1,518,313 and one in Castle Rock listed for $1,099,000 and one in Parker listed for $1,040,000. There are no short sales listed.
Contact me for bank-owned properties for sale
Today, you will find 523 homes for sale in the Denver metro area listed over $1,000,000 up to $19,999,000. They have been on the market for an average of 139 days and these homes were built from 1886 to 2021. Again, no short sales currently for sale, but 3 bank-owned properties listed above.
There are 183 homes currently under contract over $1,000,000 up to $7,950,000 with an average 118 days on market. These homes were built from 1886 to 2020.
Here is how 2018 compared to 2019
Total Sales 2018 - 1,625 2019 - 1,810
Days on Market 2018 - 86 days 2019 - 61 days
Average Price Sold 2018 - $1,295,000 2019 - 1,300,000
% Seller Saw to List 2018 - 97.72% 2019 - 97.65%
With the equity increases we have seen over the last several years, it is not unusual to see homes priced over $1,000,000 now all over the City. In October 2015 there were only 30 homes sold in Denver proper, this month there were 56 homes sold.
If you have seen a home in this post this intrigues you, give me a call - 720-231-6373. You could be HOME FOR THE HOLIDAYS.