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

 

Posted by Damon L. Chavez on Tuesday, February 21st, 2017 at 8:52am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 622 homes at January month end, 192 homes came onto the market, 98 homes were placed under contract, and 74 homes closed for $1 Million or greater with an average sold price of $1,656,773 resulting in a closed dollar volume of $122.6 Million.

 Monthly Market Recap:

                                                                       Single Family                          Condo

Active Inventory at month end                    551                                           71

New Listings                                                     165                                           27

Under Contract                                                 83                                            15

Number Sold                                                     65                                            9

Average Sold Price                                           $1,694,496                                $1,384,333

Closed $ Volume                                               $110.1 Million                           $12.5 Million

Lowest Sold Price                                             $1,000,000                                $1,050,000

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

Average Price/Square Foot (Above Ground)   $426                                      $538

Average Price/Square Foot (Total)                     $294                                     $501

Sold Price as % of List Price                                95.93%                                 96.29%

Average Days on Market                                     139                                         136       

Of the 65 Single Family homes sold, the highest priced closing for the month was $5.4 Million representing 4 Bedrooms, 7 Bathrooms, and 10,740 above ground square feet.

Of the 9 Condo homes sold, the highest priced closing for the month was $1.85 Million representing 2 Bedrooms, 3 Bathrooms, and 2,771 above ground square feet.

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

                                                                          Single Family                                Condo             

Number Sold                                                            65                        (↑18%)                 9                      (↓10%)

Average Sold Price                                           $1,694,496        (↑6%)               $1,384,333     (↓25%)

Closed $ Volume                                               $110.1 Million   (↑26%)          $12.5 Million   (↓32%)

Lowest Sold Price                                             $1,000,000                                $1,050,000

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

Average Price/Square Foot (Above Ground)   $426                                         $538

Average Price/Square Foot (Total)                     $294                                         $501

Sold Price as % of List Price                                95.93%             (↔)                  96.29%             (↓1%)

Average Days on Market                                     139                   (↓13%)             136                   (↑16%)

 Seventy Four (74) homes closed YTD January 31, 2017 for $1 Million or greater with an average sold price of $1,656,773 resulting in a closed dollar volume of $122.6 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 – February 4, 2017