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

 

Posted by Damon L. Chavez on Tuesday, August 1st, 2017 at 2:17pm.

Market Metrics:

By the numbers, the inventory of available homes for sale is 912 homes at month end, 301 homes came onto the market, 140 homes were placed under contract, and 194 homes closed for $1 Million or greater with an average sold price of $1,520,708 resulting in a closed dollar volume of $295.0 Million.

Monthly Market Recap:

                                                                          Single Family                          Condo

Active Inventory at month end                    829                                           83

New Listings                                                     274                                           27

Under Contract                                                 131                                           9

Number Sold                                                     170                                           24

Average Sold Price                                           $1,505,554                              $1,628,052

Closed $ Volume                                               $255.9 Million                        $39.1 Million

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

Highest Sold Price                                            $5,000,000                                $3,900,000

Average Price/Square Foot (Above Ground)    $412                                     $586

Average Price/Square Foot (Total)                      $270                                    $550

Sold Price as % of List Price                                  97.52%                               136.00%

Average Days on Market                                        83                                      175

Of the 170 Single Family homes sold, the highest priced closing for the month was $5.0 Million representing 4 Bedrooms, 6 Bathrooms, and 7,116 above ground square feet.

Of the 24 Condo homes sold, the highest priced closing for the month was $3.9 Million representing 3 Bedrooms, 3 Bathrooms, and 4,495 above ground square feet.

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

                                                                            Single Family                              Condo             

 Number Sold                                                           658          (↑29%)                           88                       (↑73%)

Average Sold Price                                           $1,519,851    (↔)                      $1,400,986      (↓16%)

Closed $ Volume                                               $1.0 Billion    (↑29%)              $123.3 Million  (↑44%)

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

Highest Sold Price                                            $6,000,000                                $3,900,000

Average Price/Square Foot (Above Ground)  $412                                        $525

Average Price/Square Foot (Total)                   $272                                         $460                            

Price as % of List Price                                       97.10%             (↔)                107.89%           (↑10%)

Average Days on Market                                   108                   (↓1%)               154                   (↑81%)

Seven Hundred Forty Six (746) homes closed YTD June 30, 2017 for $1 Million or greater with an average sold price of $1,505,829 resulting in a closed dollar volume of $1.12 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 – July 6, 2017