How did the Luxury Market Fare in Denver - Market Update December 2019

By
Real Estate Broker/Owner with 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 (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.

Short Sale homes for sale

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.

 

 

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Topic:
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Tags:
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Rainmaker
155,552
Raymond Henson, SRES, GRI
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

You could put my house in the garage of the highest priced listing in Denver.  ;o)  I bet it is beautiful.  It would be fun to see what the home built in 1886 looks like.

Jan 25, 2020 11:43 AM #1
Rainmaker
756,001
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Nice summary, Joan (although not sure what the foreclosure price actually was...).

Jan 25, 2020 12:00 PM #2
Rainmaker
3,314,472
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Joan... it would appear that Denver's luxury market is alive and thriving! $11.6 million... wow! I bet you wish you'd sold that house! I wouldn't have minded a sale like that myself.

Jan 26, 2020 06:03 AM #3
Rainmaker
1,316,347
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Joan Cox - This post shows your expertise in the market and buyers and sellers need to keep that in mind when they are looking for an agent. You should be their first choice.  It looks like 2019 was a good year for luxury real estate in the Denver area. 

Jan 26, 2020 07:26 AM #4
Rainmaker
4,230,859
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Raymond, so many luxury homes in the millions are mega mansions, and so much to clean! 

Jan 27, 2020 07:52 AM #5
Rainmaker
4,230,859
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Olga, the foreclosures do not last long, as buyers see them as a deal at times.

Jan 27, 2020 07:52 AM #6
Rainmaker
4,230,859
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina Hollander that would be sweet, but a little out of my comfort zone.  I got excited when one of my web visitors looked at a $6.8 million home! 

Jan 27, 2020 07:53 AM #7
Rainmaker
4,230,859
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sheri Sperry - MCNE® 2019 was a good year for the luxury sector!   I have my sales in for the luxury designation, now to take the class! 

Jan 27, 2020 07:54 AM #8
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Rainmaker
4,230,859

Joan Cox

Denver Real Estate - Selling One Home at a Time
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