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. Thinking of the upcoming Summer and want a fabulous outdoor space to entertain?
Here is how the luxury market fared for the month of January 2020 -
Total sales - 86 homes ranging from $1,000,000 to $3,275,000 (last month was 129 homes)
Average Days on Market - 85 days (increased from 79 days last month)
Average price per SF (Total) - $258.22 (last month was $282.93)
These homes were built from 1900 to 2019
The highest-priced home sold was $3,275,000 in the Denver Metro and is in Rollings Hills in Golden. This stunning home was built in 1988, on pristine grounds of 5.32 acres with a 4-car garage. This home has 5 bedrooms, 5 bathrooms, and 11,092 total finished square feet. this home was on the market for only 7 days.
There was one short sale sold in Sedalia for $1,425,000, and no bank foreclosures sold this month.
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 is currently one bank-owned properties for sale in Castle Rock (Woodlands) for $1,099,000. There are no short sales listed.
Contact me for bank-owned properties for sale
Today, you will find 549 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 127 days and these homes were built from 1885 to 2021. Again, no short sales currently for sale, but 1 bank-owned property listed above.
There are 287 homes currently under contract over $1,000,000 up to $6,650,000 with an average 92 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.
I have obtained my luxury marketing certification and has given me a multitude of new ideas. If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.