April 2016 ~ 7 County Luxury Market

 

Posted by Damon L. Chavez on Friday, April 15th, 2016 at 10:02am.

METROPOLITAN DENVER

7 COUNTY LUXURY MARKET HOMES SOLD FOR $1 MILLION OR GREATER

Market Metrics:

By the numbers, the inventory of available homes for sale is 709 homes at March month end, 225 homes came onto the market, 102 homes were placed under contract, and 73 homes closed for $1 Million or greater with an average sold price of $1,526,470 resulting in a closed dollar volume of $111.4 Million.

Monthly Market Recap:

                                                                          Single Family                           Condo


Active Inventory at month end                    638                                           71

New Listings                                                     203                                           22

Under Contract                                                 96                                             6

Number Sold                                                     66                                             7

Average Sold Price                                            $1,546,663                                 $1,336,071

Closed $ Volume                                               $102.1 Million                            $9.4 Million

Lowest Sold Price                                              $1,015,000                                 $1,000,000

Highest Sold Price                                             $5,300,000                                 $1,680,000

Average Price/Square Foot (Above Ground)        $413                                          $591

Average Price/Square Foot (Total)                     $272                                          $570

Sold Price as % of List Price                              109.37%                                     96.64%

Average Days on Market                                   101                                           43

Of the 66 Single Family homes sold, the highest priced closing for the month was $5.3 Million representing 6 Bedrooms, 11 Baths, and 13,455 above ground square feet.

Of the 7 Condo homes sold, the highest priced closing for the month was $1.68 Million representing 4 bedrooms, 6 bathrooms, and 3,043 above ground square feet.

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

 

 

Number Sold

Single Family

 

180

 

 

(↑20%)

Condo

 

25

 

 

(150%)

Average Sold Price

$1,547,414

(↑4%)

$1,877,290

(↑47%)

Closed $ Volume

$278.5 Million

(↑25%)

$46.9 Million

(267%)

Lowest Sold Price

$1,000,000

 

$1,000,000

 

Highest Sold Price

$6,530,000

 

$5,438,873

 

Average Price/Square Foot (Above Ground)

$388

 

$655

 

Average Price/Square Foot (Total)

$258

 

$612

 

Sold Price as % of List Price

100.80%

(↑5%)

97.89%

(↓4%)

Average Days on Market

127

(↓5%)

105

(↓36%)

Two Hundred Five (205) homes closed YTD March 31, 2016 for $1 Million or greater with an average sold price of $1,587,643 resulting in a closed dollar volume of $325.5 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. e of the data: REcolorado.com – April 6, 2016