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

 

Posted by Damon L. Chavez on Monday, September 26th, 2016 at 8:40am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 908 homes at August month end, 194 homes came onto the market, 113 homes were placed under contract, and 116 homes closed for $1 Million or greater with an average sold price of $1,541,238 resulting in a closed dollar volume of $178.8 Million.

Monthly Market Recap:

                                                                           Single Family                          Condo

Active Inventory at month end                     834                                           74

New Listings                                                     173                                           21

Under Contract                                                 101                                           12

Number Sold                                                     107                                           9

Average Sold Price                                           $1,544,189                                $1,506,163

Closed $ Volume                                               $165.2 Million                           $13.6 Million

Lowest Sold Price                                             $1,006,000                                $1,000,000

Highest Sold Price                                            $5,321,200                                $3,250,000

Average Price/Square Foot (Above Ground)       $406                                         $528

Average Price/Square Foot (Total)                  $272                                         $481

Sold Price as % of List Price                              96.08%                                     96.93%

Average Days on Market                                   92                                            73        

Of the 107 Single Family homes sold, the highest priced closing for the month was $5.3 Million representing 4 Bedrooms, 6 Bathrooms, and 7,826 above ground square feet.

Of the 9 Condo homes sold, the highest priced closing for the month was $3.25 Million representing 3 Bedrooms, 4 Bathrooms, and 4,903 above ground square feet.

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

                                                                          Single Family                               Condo             

Number Sold                                                     733                   (↑15%)                 67                    (↑31%)

Average Sold Price                                           $1,523,605        (↑2%)                 $1,597,500            (↑5%)

Closed $ Volume                                               $1.1 Billion        (↑17%)             $107.0 Million            (↑38%)

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

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

Average Price/Square Foot (Above Ground)       $392                                      $603

Average Price/Square Foot (Total)                     $260                                         $537

Sold Price as % of List Price                              96.83%             (↔)                    105.32%            (↑8%)

Average Days on Market                                   106                   (↓1%)                 79                    (↓43%)

Eight Hundred (800) homes closed YTD August 31, 2016 for $1 Million or greater with an average sold price of $1,529,793 resulting in a closed dollar volume of $1.22 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 – September 7, 2016