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

 

Posted by Damon L. Chavez on Wednesday, January 25th, 2017 at 9:51am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 585 homes at December month end, 55 homes came onto the market, 59 homes were placed under contract, and 89 homes closed for $1 Million or greater with an average sold price of $1,382,946 resulting in a closed dollar volume of $123.1 Million. 

Monthly Market Recap:

                                                                           Single Family                        Condo

Active Inventory at month end                    516                                          69

New Listings                                                     44                                            11

Under Contract                                                 54                                            5

Number Sold                                                     74                                            15

Average Sold Price                                           $1,411,441                             $1,242,370

Closed $ Volume                                               $104.4 Million                       $18.6 Million

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

Highest Sold Price                                            $3,390,879                               $2,050,000

Average Price/Square Foot (Above Ground)   $407                                     $482

Average Price/Square Foot (Total)                      $276                                    $435

Sold Price as % of List Price                                 95.47%                                 96.49%

Average Days on Market                                     130                                         90          

Of the 74 Single Family homes sold, the highest priced closing for the month was $3.391 Million representing 4 Bedrooms, 5 Bathrooms, and 3,361 above ground square feet.

Of the 15 Condo homes sold, the highest priced closing for the month was $2.05 Million representing 2 Bedrooms, 3 Bathrooms, and 2,186 above ground square feet.

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

                                                                          Single Family                          Condo             

Number Sold                                                     1,086            (↑18%)              109                       (↑5%)

Average Sold Price                                           $1,524,646   (↑1%)                $1,505,346          (↓1%)

Closed $ Volume                                               $1.7 Billion   (↑19%)             $164.1 Million    (↑4%)

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

Highest Sold Price                                            $7,000,000                               $5,438,873

Average Price/Square Foot (Above Ground)    $397                                    $575

Average Price/Square Foot (Total)                $263                                         $513

Sold Price as % of List Price                           96.58%       (↔)                       101.99%        (↑4%)

Average Days on Market                                106              (↑1%)                    97                    (↑1%)

One Thousand One Hundred Ninety Five (1,195) homes closed YTD December 31, 2016 for $1 Million or greater with an average sold price of $1,522,886 resulting in a closed dollar volume of $1.82 Billion.

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 – January 6, 2017