August 2017 ~ 7 County Luxury Market Homes Sold For $1 Million Or Greater

 

Posted by Damon L. Chavez on Friday, September 1st, 2017 at 1:11pm.

Market Metrics:

By the numbers, the inventory of available homes for sale is 944 homes at month end, 249 homes came onto the market, 130 homes were placed under contract, and 138 homes closed for $1 Million or greater with an average sold price of $1,559,924 resulting in a closed dollar volume of $215.3 Million. 

Monthly Market Recap:

                                                                          Single Family                          Condo

Active Inventory at month end                    858                                           86

New Listings                                                     213                                           36

Under Contract                                                 113                                           17

Number Sold                                                     123                                           15

Average Sold Price                                           $1,561,662                              $1,545,667

Closed $ Volume                                               $192.1 Million                       $23.2 Million

Lowest Sold Price                                             $1,000,000                              $1,025,000

Highest Sold Price                                            $4,800,000                               $4,950,000

Average Price/Square Foot (Above Ground)   $409                                     $534

Average Price/Square Foot (Total)                     $268                                     $428

Sold Price as % of List Price                                 97.17%                               102.49%

Average Days on Market                                       85                                        227

Of the 123 Single Family homes sold, the highest priced closing for the month was $4.8 Million representing 4 Bedrooms, 6 Bathrooms, and 6,175 above ground square feet.

Of the 15 Condo homes sold, the highest priced closing for the month was $4.95 Million representing 4 Bedrooms, 5 Bathrooms, and 5,171 above ground square feet.

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

                                                                          Single Family                            Condo             

 Number Sold                                                          781                   (↑24%)                    102                   (↑76%)

Average Sold Price                                           $1,526,564     (↔)                       $1,411,635    (↓12%)

Closed $ Volume                                                $1.2 Billion   (↑25%)                 $144.0 Million  (↑54%)

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

Highest Sold Price                                             $6,000,000                                  $4,950,000

Average Price/Square Foot (Above Ground)   $412                                         $526

Average Price/Square Foot (Total)                     $271                                         $450                            

Price as % of List Price                                         97.12%            (↔)                  98.00%             (↓8%)

Average Days on Market                                     105                   (↓3%)               166                   (108%)

Eight Hundred Eighty Three (883) homes closed YTD July 31, 2017 for $1 Million or greater with an average sold price of $1,513,288 resulting in a closed dollar volume of $1.34 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 5, 2017