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 for over $1 million. Some have mountain and/or city views, some properties back to a golf course, or have water views all to compliment one's lifestyle. (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.
Here is how the luxury market fared for the month of December 2021
Total sales - 311 homes ranging from $1,000,000 to $12,500,000 (last month was 365 homes, 2020 was 271)
Average Days on Market - 36 days (last month was 23 days last month and 2020 was 49 days)
Average price per SF (Total) - $317.90 (last month was $330.58)
These homes were built from 1886 to 2021
The highest-priced home sold was $12,500,000 in the Denver Metro and is in Evans Ranch in Parker. This home was built in 2001, on 35 acres. It has 13 bedrooms, 28 bathrooms and a 29-car garage. (yes, those numbers are correct!) This home has 45,212 square feet and was on the market off and on for ten years. It was truly a corporate retreat, but would be wonderful with a large family.
Sales were strong for December, and now that we are seeing snow (often), think this will affect the sales a bit. 77 of these sold homes were paid for with cash.
Contact me for bank-owned properties for sale
Have you always dreamed of a closet where you could put all your clothes and a chandelier? This closet is its own room!
Today, you will find 274 homes for sale in the Denver metro area listed over $1,000,000 up to $25,700,000. They have been on the market for an average of 103 days and these homes were built from 1885 to 2022. This amount has increased minimally from last month. There were two bank owned properties active last month, but both went pending within five days. There are no current actives this month, and no short sales.
There are 302 homes currently pending over $1,000,000 up to $7,600,000 with an average of 76 days on market. These homes were built from 1884 to 2022. (This amount has decreased from 326 last month.)
Here is how 2020 compared to 2021
Total Sales 2020 - 2,739 2021 - 4,487
Days on Market 2020 - 53 days 2021 - 27 days
Average Price Sold 2020 - $1,302,500 2021 - 1,350,000
% Seller Saw to List 2020 - 97.06% 2021 - 100%
With home values on the rise, we are seeing more sales over $1 million. May need to bump the price up to showcase luxury home sales. It isn't unusual to see a million dollar home. With such low inventory even in the luxury sector, homes were not on the market long.
I have obtained my luxury marketing certification and has given me a multitude of new ideas. If you have seen a home in this post this intrigues you, give me a call - 720-231-6373.