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

 

Posted by Damon L. Chavez on Sunday, October 30th, 2016 at 9:24am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 919 homes at September month end, 221 homes came onto the market, 108 homes were placed under contract, and 95 homes closed for $1 Million or greater with an average sold price of $1,546,373 resulting in a closed dollar volume of $146.9 Million.

Monthly Market Recap:

                                                                         Single Family                          Condo

Active Inventory at month end                       833                                         86

New Listings                                                     193                                           28

Under Contract                                                 101                                           7

Number Sold                                                     82                                            13

Average Sold Price                                           $1,550,810                            $1,518,385

Closed $ Volume                                               $127.2 Million                     $19.7 Million

Lowest Sold Price                                             $1,000,000                            $1,005,000

Highest Sold Price                                            $3,445,200                             $3,695,000

Average Price/Square Foot (Above Ground)       $415                                $628

Average Price/Square Foot (Total)                     $273                                   $593

Sold Price as % of List Price                              96.49%                                 97.99%

Average Days on Market                                   94                                          106           

Of the 82 Single Family homes sold, the highest priced closing for the month was $3.445 Million representing 6 Bedrooms, 7 Bathrooms, and 6,001 above ground square feet.

Of the 13 Condo homes sold, the highest priced closing for the month was $3.695 Million representing 3 Bedrooms, 3 Bathrooms, and 3,392 above ground square feet.

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

                                                                         Single Family                                Condo             

 Number Sold                                                        816                   (↑14%)                       81                    (↑40%)

Average Sold Price                                           $1,526,003        (↑2%)                $1,578,197            (↑5%)

Closed $ Volume                                               $1.2 Billion        (↑16%)             $127.8 Million            (↑47%)

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

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

Average Price/Square Foot (Above Ground)       $394                                     $606

Average Price/Square Foot (Total)                     $261                                        $543

Sold Price as % of List Price                              96.80%             (↔)                   104.04%            (↑7%)

Average Days on Market                                   104                   (↓1%)                  83                    (↓33%)

Eight Hundred Ninety Seven (897) homes closed YTD September 30, 2016 for $1 Million or greater with an average sold price of $1,530,716 resulting in a closed dollar volume of $1.37 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 – October 1, 2016