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 $1.3 million. (Over the years I have used $1 million as luxury, but with our rising home values, had the need to increase this amount.) 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 January 2022 -
Total sales - 92 homes ranging from $1,000,000 to $4,495,000 (last month was 311 homes, 2021 was 271) (this was the first month I changed the amount to $1.3 million)
Average Days on Market - 29 days (last month was 36 days last month and 2020 was 68 days)
Sellers saw - 100% to list price
Average price per SF (Total) - $358.59 (last month was $317.90)
These homes were built from 1891 to 2021
The highest-priced home sold was $4,495,000 in the Denver Metro and is in Douglas Park in Larkspur. This home was built in 2008, on 35 acres. It has 5 bedrooms, 8 bathrooms, and a 5-car garage. This home has 11,267 square feet and was on the market for 136 days. The views were stunning!
Contact me for bank-owned properties for sale
Could you see waking to these views every day? Right now those peaks and the ground around this home are covered with snow, but won't be long before Spring.
Today, you will find 296 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 76 days and these homes were built from 1885 to 2023. This amount has increased minimally from last month. There are no bank-owned properties currently on the market, nor any short sales active.
There are 487 homes currently pending over $1,000,000 up to $9,750,000 with an average of 58 days on market. These homes were built from 1884 to 2023. (This amount has increased from 302 last month.) Like the entire Denver market, since the Holidays are over, the home buying has gone into high speed!
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. I did bump the price point to $1.3 million this month. 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 which 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.