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

 

Posted by Damon L. Chavez on Friday, July 8th, 2016 at 3:53pm.

7 COUNTY LUXURY MARKET

HOMES SOLD FOR $1 MILLION OR GREATER 

Market Metrics:

By the numbers, the inventory of available homes for sale is 872 homes at May month end, 288 homes came onto the market, 161 homes were placed under contract, and 116 homes closed for $1 Million or greater with an average sold price of $1,535,228 resulting in a closed dollar volume of $178.1 Million. 

Monthly Market Recap:

                                                                      Single Family                          Condo

Active Inventory at month end                    791                                           81

New Listings                                                     266                                           22

Under Contract                                                 150                                           11

Number Sold                                                     105                                           11

Average Sold Price                                           $1,539,278                                $1,496,570

Closed $ Volume                                               $161.6 Million                           $16.5 Million

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

Highest Sold Price                                            $6,705,241                                $3,483,269

Average Price/Square Foot (Above Ground)       $388                                         $548

Average Price/Square Foot (Total)                     $260                                         $488

Sold Price as % of List Price                              97.92%                                     96.58%

Average Days on Market                                   99                                            79

Of the 105 Single Family homes sold, the highest priced closing for the month was $6.705 Million representing 5 Bedrooms, 9 Baths, and 8,038 above ground square feet.

Of the 11 Condo homes sold, the highest priced closing for the month was $3.48 Million representing 3 bedrooms, 4 bathrooms, and 3,616 above ground square feet.

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

                                                                              Single Family                               Condo             

 Number Sold                                                             371                   (↑19%)                 41                    (↑46%)

Average Sold Price                                           $1,538,349        (↑1%)                $1,699,866            (↑9%)

Closed $ Volume                                               $570.7 Million   (↑20%)              $69.7 Million            (↑60%)

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

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

Average Price/Square Foot (Above Ground)       $388                                        $608

Average Price/Square Foot (Total)                     $260                                             $557

Sold Price as % of List Price                              96.87%             (↑1%)                    97.44%             (↓1%)

Average Days on Market                                   118                   (↓7%)                    90                    (↓38%)

Four Hundred Twelve (412) homes closed YTD May 31, 2016 for $1 Million or greater with an average sold price of $1,554,423 resulting in a closed dollar volume of $640.4 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 – June 4, 2016