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

 

Posted by Damon L. Chavez on Friday, September 2nd, 2016 at 9:26am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 947 homes at July month end, 216 homes came onto the market, 110 homes were placed under contract, and 125 homes closed for $1 Million or greater with an average sold price of $1,489,655 resulting in a closed dollar volume of $186.2 Million.

Monthly Market Recap:

                                                                         Single Family                          Condo

Active Inventory at month end                    863                                           84

New Listings                                                     197                                           19

Under Contract                                                 102                                           8

Number Sold                                                     118                                           7

Average Sold Price                                           $1,509,910                                $1,148,214

Closed $ Volume                                               $178.2 Million                         $8.0 Million

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

Highest Sold Price                                            $5,600,000                                $1,450,000

Average Price/Square Foot (Above Ground)       $387                                     $728

Average Price/Square Foot (Total)                     $255                                       $593

Sold Price as % of List Price                              96.86%                                     168.42%

Average Days on Market                                   105                                           44           

Of the 118 Single Family homes sold, the highest priced closing for the month was $5.6 Million representing 7 Bedrooms, 11 Bathrooms, and 12,044 above ground square feet.

Of the 7 Condo homes sold, the highest priced closing for the month was $1.45 Million representing 2 Bedrooms, 3 Bathrooms, and 2,202 above ground square feet.

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

                                                                             Single Family                               Condo             

Number Sold                                                     626                   (↑16%)                  58                    (↑32%)

Average Sold Price                                           $1,520,098        (↑1%)                  $1,611,673        (↑5%)

Closed $ Volume                                               $951.6 Million   (↑18%)               $93.5 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)       $389                                         $615

Average Price/Square Foot (Total)                     $258                                            $546

Sold Price as % of List Price                              96.96%             (↔)                      106.62%            (↑9%)

Average Days on Market                                   108                   (↓3%)                    80                    (↓39%)

Six Hundred Eighty Four (684) homes closed YTD July 31, 2016 for $1 Million or greater with an average sold price of $1,527,863 resulting in a closed dollar volume of $1.05 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 – August 4, 2016