A Luxury Home can be identified differently in cities across the Country, but in Denver, my Luxury blog posts will report on detached single family homes listed in the Denver metro area over $1 million. Some have mountain (snow-capped now) and/or city views, some back to a golf course or have water views. (however, we don't have much water) Some are updated with products from around the world, and some have expansive square footage or on acreage. Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.
We have felt a crispness in the air here and have already seen a foot of snow (which is early this year), as Fall/Winter has arrived. Ready for Bronco games (they need some prayers) and fall gatherings? Need a game room/media room or a fabulous outdoor entertainment area?
Here is how the luxury market fared for the month of October 2019 -
Total sales - 143 homes ranging from $1,000,000 to $9,000,000 (last month was 133 homes, so this sector of our market saw an increase)
Average Days on Market - 69 days (last month was 89 days)
Average price per SF (Total) - $259.10 (last month was $271.36)
These homes were built from 1900 to 2019
The highest priced home sold was $9,000,000 in the Denver Metro and is in Cherry Hills Village. This stunning home was built in 2017, on 1.06 acres with a 4-car garage. This home has 11,127 total finished square feet.
There was one short sale sold, but no bank foreclosures sold this month.
The first few months were slow around the Denver metro area, but both the luxury market and the resale/new construction market saw a bump in activity in the spring months, and as we look at Fall, we saw an uptick in sales over last year in September (only had 131 sales vs 143 this year). A slight increase is always good to see.
Looking for a home on acreage and private? With mountain views? Or would like to see what homes are for sale over $1,000,000? There are currently three bank-owned properties for sale, one in Cherry Creek Country Club listed for $1,812,500 and one in Chenango listed for $1,199,000 and one in Spring Creek ranches in Parker listed for $,099,000. There is one short sale listed in Sedalia for $1,550,000 on acreage.
Contact me for bank-owned properties for sale
Today, you will find 727 homes for sale in the Denver metro area listed over $1,000,000 up to $19,750,000. They have been on the market for an average of 153 days and these homes were built from 1886 to 2020. There is one short sale currently for sale in Sedalia for $1,550,000.
There are 200 homes currently under contract over $1,000,000 up to $11,900,000 with an average 97 days on market. These homes were built from 1886 to 2019.
With the equity increases we have seen over the last seven years, it is not unusual to see homes priced over $1,000,000 now all over the City. In October 2015 there were only 30 homes that sold in Denver proper, this month there were 48 homes sold.
If you have seen a home in this post this intrigues you, give me a call - 720-231-6373. You could be HOME FOR THE HOLIDAYS.