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

 

Posted by Damon L. Chavez on Sunday, April 30th, 2017 at 12:36pm.

Market Metrics:

By the numbers, the inventory of available homes for sale is 742 homes at March month end, 291 homes came onto the market, 157 homes were placed under contract, and 125 homes closed for $1 Million or greater with an average sold price of $1,435,510 resulting in a closed dollar volume of $179.4 Million.

Monthly Market Recap:

                                                                            Single Family                          Condo

Active Inventory at month end                    660                                           82

New Listings                                                     263                                           28

Under Contract                                                 144                                           13

Number Sold                                                     106                                           19

Average Sold Price                                           $1,472,930                                $1,226,750

Closed $ Volume                                               $156.1 Million                           $23.3 Million

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

Highest Sold Price                                            $6,000,000                                $1,779,000

Average Price/Square Foot (Above Ground)   $406                                      $498

Average Price/Square Foot (Total)                     $268                                     $434

Sold Price as % of List Price                                97.36%                                 97.39%

Average Days on Market                                     115                                         118         

Of the 106 Single Family homes sold, the highest priced closing for the month was $6.0 Million representing 4 Bedrooms, 7 Bathrooms, and 5,317 above ground square feet.

Of the 19 Condo homes sold, the highest priced closing for the month was $1.779 Million representing 3 Bedrooms, 4 Bathrooms, and 2,796 above ground square feet.

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

                                                                           Single Family                             Condo             

Number Sold                                                     224                   (↑24%)                34                    (↑36%)

Average Sold Price                                           $1,541,874        (↔)                     $1,293,886     (↓31%)

Closed $ Volume                                               $345.4 Million   (↑25%)              $44.0 Million  (↓6%)

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

Highest Sold Price                                            $6,000,000                                     $1,850,000

Average Price/Square Foot (Above Ground)   $409                                           $506

Average Price/Square Foot (Total)                    $273                                            $439                            

Price as % of List Price                                        96.62%           (↑1%)                  97.04%             (↓1%)

Average Days on Market                                    132                  (↑4%)                  126                   (↑20%)

Two Hundred Fifty Eight (258) homes closed YTD March 31, 2017 for $1 Million or greater with an average sold price of $1,509,193 resulting in a closed dollar volume of $389.4 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 – April 8, 2017