June 2017 ~ 7 County Luxury Market Homes Sold For $1 Million Or Greater

Posted by Damon L. Chavez on Friday, June 30th, 2017 at 10:55am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 855 homes at month end, 292 homes came onto the market, 170 homes were placed under contract, and 159 homes closed for $1 Million or greater with an average sold price of $1,487,494 resulting in a closed dollar volume of $236.5 Million.

Monthly Market Recap:

                                                                            Single Family                          Condo

Active Inventory at month end                    783                                            72

New Listings                                                     265                                            27

Under Contract                                                 150                                            20

Number Sold                                                     144                                            15

Average Sold Price                                           $1,509,761                                $1,273,724

Closed $ Volume                                               $217.4 Million                         $19.1 Million

Lowest Sold Price                                             $1,000,000                                $1,000,000

Highest Sold Price                                            $5,850,000                                $1,837,500

Average Price/Square Foot (Above Ground)   $416                                      $484

Average Price/Square Foot (Total)                     $276                                      $422

Sold Price as % of List Price                                97.62%                                  97.44%

Average Days on Market                                      94                                         157           

Of the 144 Single Family homes sold, the highest priced closing for the month was $5.85 Million representing 5 Bedrooms, 9 Bathrooms, and 7,358 above ground square feet.

Of the 15 Condo homes sold, the highest priced closing for the month was $1.838 Million representing 2 Bedrooms, 3 Bathrooms, and 2,338 above ground square feet. 

Year-to-Date Market Recap with Year Over Year % Comparisons:

                                                                           Single Family                                  Condo             

 Number Sold                                                          486             (↑31%)                               64                    (↑56%)

Average Sold Price                                           $1,525,432        (↓1%)                    $1,315,837     (↓23%)

Closed $ Volume                                               $741.4 Million   (↑30%)                $84.2 Million    (↑21%)

Lowest Sold Price                                             $1,000,000                                      $1,000,000

Highest Sold Price                                            $6,000,000                                      $2,450,000

Average Price/Square Foot (Above Ground)       $412                                         $503

Average Price/Square Foot (Total)                        $272                                         $427                            

Price as % of List Price                                            96.95%             (↔)                 97.35%             (↔)

Average Days on Market                                        116                   (↓2%)               146                   (↑62%)

 Five Hundred Fifty (550) homes closed YTD May 31, 2017 for $1 Million or greater with an average sold price of $1,501,043 resulting in a closed dollar volume of $825.6 Million.

The above representation covers a seven (7) county area including the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson.

The above representation may or may not reflect all real estate activity in the market.

Source of the data:  REcolorado.com – June 4, 2017