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

 

Posted by Damon L. Chavez on Monday, July 18th, 2016 at 10:38am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 951 homes at June month end, 300 homes came onto the market, 129 homes were placed under contract, and 145 homes closed for $1 Million or greater with an average sold price of $1,478,134 resulting in a closed dollar volume of $214.3 Million.

Monthly Market Recap:

                                                                           Single Family                          Condo

Active Inventory at month end                     865                                           86

New Listings                                                     269                                           31

Under Contract                                                 123                                           6

Number Sold                                                     135                                           10

Average Sold Price                                           $1,470,995                                $1,574,500

Closed $ Volume                                               $198.6 Million                           $15.7 Million

Lowest Sold Price                                             $1,000,000                                $1,125,000

Highest Sold Price                                            $5,275,000                                $3,010,000

Average Price/Square Foot (Above Ground)       $395                                         $566

Average Price/Square Foot (Total)                     $254                                         $468

Sold Price as % of List Price                              97.43%                                     101.02%

Average Days on Market                                   83                                            66

Of the 135 Single Family homes sold, the highest priced closing for the month was $5.275 Million representing 6 Bedrooms, 9 Baths, and 7,736 above ground square feet. 

Of the 10 Condo homes sold, the highest priced closing for the month was $3.01 Million representing 3 bedrooms, 3 bathrooms, and 2,445 above ground square feet.

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

                                                                          Single Family                          Condo             

Number Sold                                                     506                   (↑16%)             51                    (↑42%)

Average Sold Price                                           $1,520,379        (↑2%)             $1,675,284         (↑11%)

Closed $ Volume                                               $769.3 Million   (↑19%)         $85.4 Million        (↑58%)

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

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

Average Price/Square Foot (Above Ground)       $390                                   $600

Average Price/Square Foot (Total)                     $258                                      $540

Sold Price as % of List Price                              97.02%             (↑1%)              98.14%             (↔)

Average Days on Market                                   109                   (↓6%)               85                    (↓40%)

Five Hundred Fifty Seven (557) homes closed YTD June 30, 2016 for $1 Million or greater with an average sold price of $1,534,563 resulting in a closed dollar volume of $854.8 Million.

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 – July 8, 2016