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

 

Posted by Damon L. Chavez on Wednesday, November 30th, 2016 at 9:06am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 860 homes at October month end, 161 homes came onto the market, 103 homes were placed under contract, and 101 homes closed for $1 Million or greater with an average sold price of $1,505,617 resulting in a closed dollar volume of $152.1 Million.

 Monthly Market Recap:

                                                                          Single Family                          Condo

Active Inventory at month end                    781                                           79

New Listings                                                     141                                           20

Under Contract                                                 89                                            14

Number Sold                                                     93                                            8

Average Sold Price                                           $1,521,168                                $1,324,838

Closed $ Volume                                               $141.5 Million                           $10.6 Million

Lowest Sold Price                                             $1,000,000                                $1,010,000

Highest Sold Price                                            $3,975,000                                $2,300,000

Average Price/Square Foot (Above Ground)   $424                                       $474

Average Price/Square Foot (Total)                  $280                                         $376

Sold Price as % of List Price                              96.79%                                     95.66%

Average Days on Market                                   100                                           300

Of the 93 Single Family homes sold, the highest priced closing for the month was $3.975 Million representing 2 Bedrooms, 2 Bathrooms, and 1,368 above ground square feet.

 Of the 8 Condo homes sold, the highest priced closing for the month was $2.3 Million representing 4 Bedrooms, 5 Bathrooms, and 4,271 above ground square feet.

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

                                                                               Single Family                          Condo             

 Number Sold                                                       913                   (↑17%)             89                    (↑29%)

Average Sold Price                                        $1,523,769    (↑1%)             $1,555,423      (↓1%)

Closed $ Volume                                            $1.4 Billion  (↑18%)           $138.4 Million   (↑28%)

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

Highest Sold Price                                         $6,705,241                           $5,438,873

Average Price/Square Foot (Above Ground)  $397                                $594

Average Price/Square Foot (Total)                 $263                                  $528

Sold Price as % of List Price                            96.81%       (↔)                 103.29%       (↑6%)

Average Days on Market                                 104              (↔)                 103                (↓6%)

One Thousand Two (1,002) homes closed YTD October 31, 2016 for $1 Million or greater with an average sold price of $1,526,581 resulting in a closed dollar volume of $1.53 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 – November 8, 2016