Luxury Home Sales - Denver, CO - December 2014
This is the time of year inventory is at its lowest and sales are not as plentiful as the spring/summer months. The month of December did show a sizable increase in sales over November. Days on market remained the same at 132 days, yet the average sales price increased by $34,662 to $1,497,206.
There are 626 current active luxury listings in the Denver Metro area, which is a 14% decrease over last month's active listings. There are three short sale properties available and no bank foreclosures available. Nice to see the distressed market all but depleted. There are 95 properties listed at $1 million+ under contract as of today.
** Photos courtesy of Metrolist
Looking at the sales in December 2014, there were no short sales and one bank foreclosure sold and ten new builds sold.
Here are the sales by City within the Denver metro area -
This has been the first month with so many suburbs showing a $1,000,000+ sale. Our home values are increasing so we are seeing luxury sales in most all of the suburbs.
Six homes remained on the market for over a year and one on the market for 600 days. On the opposite end of the spectrum, there were ten homes that sold in less than a week, most in Denver proper or new builds. Homes in the luxury market are still moving quickly!
This Cherry Hills Village home took the highest luxury sale in the Denver metro area for December 2014 and sold for $3,750,000 that was built in 2006. The home boasts 6 bedrooms, ten bathrooms, 12,709 total square feet with a 5 car garage on .92 acres. This home was only on the market for 139 days. **Photo courtesy of Metrolist
Here is the data for luxury home sales for the first half of 2014 and the second half of 2014 to show the comparable activity month by month at a glance. As expected, the summer is the time most homes (including luxury homes) are sold. Sales in the month of July this year surpassed every month for a few years!
If you are looking to buy or sell a luxury home in the Denver metro area, please give me a call, or if you would like any information on attached luxury homes!