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

 

Posted by Damon L. Chavez on Thursday, June 1st, 2017 at 9:20am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 792 homes at April month end, 276 homes came onto the market, 171 homes were placed under contract, and 131 homes closed for $1 Million or greater with an average sold price of $1,506,260 resulting in a closed dollar volume of $197.3 Million.

Monthly Market Recap:

                                                                         Single Family                          Condo

Active Inventory at month end                    717                                           75

New Listings                                                     253                                           23

Under Contract                                                 155                                           16

Number Sold                                                     116                                           15

Average Sold Price                                           $1,519,005                               $1,407,703

Closed $ Volume                                               $176.2 Million                        $21.1 Million

Lowest Sold Price                                             $1,000,000                               $1,021,878

Highest Sold Price                                            $3,475,000                               $2,450,000

Average Price/Square Foot (Above Ground)    $416                                    $517

Average Price/Square Foot (Total)                     $270                                    $405

Sold Price as % of List Price                                 96.75%                                97.95%

Average Days on Market                                      111                                       178

Of the 116 Single Family homes sold, the highest priced closing for the month was $3.475 Million representing 4 Bedrooms, 8 Bathrooms, and 4,521 above ground square feet.

Of the 15 Condo homes sold, the highest priced closing for the month was $2.450 Million representing 3 Bedrooms, 6 Bathrooms, and 3,885 above ground square feet.

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

                                                                          Single Family                             Condo             

Number Sold                                                     339                   (↑27%)                  49                    (↑63%)

Average Sold Price                                           $1,535,145        (↔)                      $1,328,728     (↓25%)

Closed $ Volume                                               $520.4 Million   (↑27%)               $65.1 Million  (↑22%)

Lowest Sold Price                                             $1,000,000                                     $1,002,500

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

Average Price/Square Foot (Above Ground)   $410                                            $509

Average Price/Square Foot (Total)                     $271                                           $428                            

Price as % of List Price                                         96.65%             (↔)                   97.32%             (↔)

Average Days on Market                                      125                   (↔)                  142                   (↑51%)

Three Hundred Eighty Eight (388) homes closed YTD April 30, 2017 for $1 Million or greater with an average sold price of $1,509,077 resulting in a closed dollar volume of $585.5 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 – May 6, 2017