December 2016 ~ 7 County Luxury Market Homes Sold For $1 Million Or Greater

 

Posted by Damon L. Chavez on Monday, December 26th, 2016 at 11:55am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 582 homes at November month end, 107 homes came onto the market, 72 homes were placed under contract, and 97 homes closed for $1 Million or greater with an average sold price of $1,604,010 resulting in a closed dollar volume of $155.6 Million.

Monthly Market Recap:

                                                                         Single Family                          Condo

Active Inventory at month end                   512                                           70

New Listings                                                     93                                            14

Under Contract                                                 61                                            11

Number Sold                                                     92                                            5

Average Sold Price                                           $1,615,750                             $1,388,000

Closed $ Volume                                               $148.6 Million                      $6.9 Million

Lowest Sold Price                                             $1,000,000                             $1,100,000

Highest Sold Price                                            $7,000,000                             $1,840,000

Average Price/Square Foot (Above Ground)   $392                                    $578

Average Price/Square Foot (Total)                   $261                                     $549

Sold Price as % of List Price                              95.63%                                 97.06%

Average Days on Market                                   105                                       50          

Of the 92 Single Family homes sold, the highest priced closing for the month was $7.0 Million representing 5 Bedrooms, 6 Bathrooms, and 4,627 above ground square feet. 

Of the 5 Condo homes sold, the highest priced closing for the month was $1.84 Million representing 2 Bedrooms, 3 Bathrooms, and 3,377 above ground square feet. 

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

                                                                        Single Family                             Condo             

Number Sold                                                     1,008                (↑22%)             94                    (↑12%)

Average Sold Price                                           $1,532,629        (↑2%)             $1,546,518      (↑2%)

Closed $ Volume                                               $1.5 Billion        (↑24%)          $145.4 Million   (↑14%)

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

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

Average Price/Square Foot (Above Ground)    $398                                     $593

Average Price/Square Foot (Total)                 $265                                         $529

Sold Price as % of List Price                            97.61%            (↑1%)               102.96%          (↑5%)

Average Days on Market                                 103                   (↓1%)               100                   (↓3%)

One Thousand One Hundred Two (1,102) homes closed YTD November 30, 2016 for $1 Million or greater with an average sold price of $1,533,814 resulting in a closed dollar volume of $1.69 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 – December 3, 2016