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, and 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 acreage. Whatever a Buyer is looking for, most likely if you have over $1.3 million, you can find it in Denver or in the surrounding suburbs.
Here is how the luxury market fared for the month of March 2023 -
Total sales - 200 homes ranging from $1,300,000 to $4,250,000 (last month was 128 homes, 2022 was 280)
Average Days on Market - 34 days (last month was 52 days, 2022 was 21 days)
Sellers saw - 100% to list price
Average price per SF (Total) - $572.98 (last month was $606.48)
These homes were built from 1883 to 2023
The month of March did rebound with sales, still not as vibrant as this time 2022. With Sellers seeing 100% to list price this month shows the demand in the luxury sector.
The highest-priced home sold was $7,300,000 in the Denver Metro and is in Cherry Hills. This home was built in 2018, on 1.06 acres. It has 6 bedrooms, 8 bathrooms, and a 4-car garage. This home has 10,601 square feet and was sold in 25 days.
Looking for a home on acreage and private? With mountain views? Or would you like to see what homes are for sale over $1,000,000? How about a home in a gated community?
Contact me for bank-owned properties for sale
With Spring-like weather, and Summer is around the corner, this pool sure look enticing!
There are 540 homes for sale in the Denver metro area listed over $1,300,000 up to $28,888,888. They have been on the market for an average of 87 days and these homes were built from 1886 to 2024. There are no bank-owned properties currently on the market, and one active bank-owned property listed at $1,499,400 in Capital Hill in Denver and has been on the market for 84 days and has a couple of price reductions. This foreclosure was built in 1894.
There are 282 homes currently pending over $1,300,000 up to $8,889,000 with an average of 59 days on market. These homes were built from 1882 to 2023.
Here is how 2021 compared to 2022
Total Sales 2021 - 4,487 2022 - 2,737
Days on Market 2021 - 27 days 2022 - 24 days
Average Price Sold 2021 - $1,350,000 2022 - 1,673,000
% Seller Saw to List 2021 - 100% 2022 - 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 for 2022. It isn't unusual to see a million-dollar home. We are seeing some homes linger a bit longer on the market now.
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.