Luxury Home Sales - Denver, CO   July 2016

 

Luxurious deck views

  

The luxury market in the Denver metro area saw a decrease in sales for the month of June.  We are seeing many more cities across the metro area attaining the million dollar mark with the home values increasing.   Can you see yourself enjoying the end of summer weather with your family on your deck with these views?

  **Photo courtesy of REColorado

 

 

Days on market decreased from 29 days in June to 28 in July.   The average sales price decreased from $1,350,000 to $1,305,000.   

  

There are 1,085 current active luxury listings in the Denver Metro area, which is a slight decrease over last month's active listings (1,101).    There are no short sale properties available and two bank foreclosures available.  ($1,995,000 & $1,309,900)  There are 221 properties listed at $1 million+ under contract as of today.

 

 

Looking for a larger master bedroom closet? 

(Can you ever have a large enough closet?)

 

Luxurious Master Bedroom closet
                                                          ** Photos courtesy of REColorado

 

Looking at the sales in July 2016, there were no short sales, one bank foreclosure sold and nine new builds sold.

 

 Here are the sales by City within the Denver metro area -

 

 Luxury Sales - Denver - July 2016 by City

 

We are seeing more and more cities around the Denver Metro area seeing $1,000,000 sales and as home values increase.   

 

Seven homes remained on the market for longer than a year, with one home lingering for a little over 2 years.   On the opposite end of the spectrum, there were forty-seven homes that sold in less than a week.   THIS EQUATES TO  30% of the luxury market sold in July went under contract in less than a week!   Each month we see a few homes were sold without being put into MLS, and entered only for appraisal purposes.   Homes in the luxury market are still moving quickly!   

 


Highest sale July 2016 in Denver

**Photo courtesy of REColorado

 

The top sale in Denver this month was gorgeous custom home in Country Club and sold for $5,600,000 that was built in 1931.   The home has 7 bedrooms, 11 bathrooms, 15,652 total square feet with a 7 car garage on 1.46 acres.   This home was sold in 688 days.  

   

 

Here is the data for luxury home sales for the 2016 to-date 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 June 2016 surpassed every month in sales for a few years.

 

Denver luxury home stats for June 2016

 

 

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!

 

 

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