March 2017 ~ 7 County Luxury Market Homes Sold For $1 Million Or Greater Posted By Damon L. Chavez

 

Market Metrics:

By the numbers, the inventory of available homes for sale is 654 homes at February month end, 189 homes came onto the market, 117 homes were placed under contract, and 57 homes closed for $1 Million or greater with an average sold price of $1,493,716 resulting in a closed dollar volume of $85.1 Million.

Monthly Market Recap:

                                                                        Single Family                          Condo

Active Inventory at month end                    575                                           79

New Listings                                                     164                                           25

Under Contract                                                 102                                           15

Number Sold                                                     51                                            6

Average Sold Price                                           $1,508,175                                $1,370,815

Closed $ Volume                                               $76.9 Million                             $8.2 Million

Lowest Sold Price                                             $1,000,000                                $1,045,000

Highest Sold Price                                            $3,985,000                                $1,850,000

Average Price/Square Foot (Above Ground)       $390                                         $485

Average Price/Square Foot (Total)                     $257                                         $360

Sold Price as % of List Price                              96.19%                                     97.07%

Average Days on Market                                   153                                           134    

Of the 51 Single Family homes sold, the highest priced closing for the month was $3.985 Million representing 6 Bedrooms, 7 Bathrooms, and 7,880 above ground square feet. 

Of the 6 Condo homes sold, the highest priced closing for the month was $1.85 Million representing 3 Bedrooms, 5 Bathrooms, and 4,815 above ground square feet. 

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

                                                                           Single Family                          Condo             

Number Sold                                                     118                   (↑4%)                 15                    (↓17%)

Average Sold Price                                           $1,603,806        (↑4%)               $1,378,926       (↓34%)

Closed $ Volume                                               $189.2 Million   (↑7%)              $20.7 Million    (↓45%)

Lowest Sold Price                                             $1,000,000                                  $1,045,000

Highest Sold Price                                            $5,400,000                                  $1,850,000

Average Price/Square Foot (Above Ground)       $410                                     $517

Average Price/Square Foot (Total)                     $277                                         $444                            

Price as % of List Price                                        95.95%             (↔)                  96.60%             (↓2%)

Average Days on Market                                     148                   (↑4%)               135                   (↑4%)

One Hundred Thirty Three (133) homes closed YTD February 28, 2017 for $1 Million or greater with an average sold price of $1,578,444 resulting in a closed dollar volume of $209.9 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 – March 4, 2017