Luxury Home Sales - Denver, CO   June 2016

 

Hanging out at the pool

  

The luxury market in the Denver metro area saw a twenty-four percent increase 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 handing out here in the summer?

  **Photo courtesy of REColorado

 

 

 

Days on market decreased from 36 days in May to 29 in June.   The average sales price increased from $1,296,000 to $1,350,000.   

  

There are 1,101 current active luxury listings in the Denver Metro area, which is a slight increase over last month's active listings (1,085).    There are no short sale properties available and two bank foreclosures available.  ($1,934,000 & $1,359,900)  There are 269 properties listed at $1 million+ under contract as of today.

 

 

Looking for views from your property?   

 


                                                          ** Photos courtesy of REColorado

 

Looking at the sales in June 2016, there were no short sales or bank foreclosures sold and thirteen new builds sold.

 

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

 Luxury Denver home sales by city June 2016

 

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

 

 

Four homes remained on the market for longer than a year, with one home lingering for almost 4 years.   On the opposite end of the spectrum, there were forty-five homes that sold in less than a week.   THIS EQUATES TO  23% of the luxury market sold in June 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 luxury home sold in June 2016

**Photo courtesy of REColorado

 A gorgeous custom home in Cherry Hills Village took the highest luxury sale spot in the Denver metro area for June 2016 and sold for $5,275,000 that was built in 2006.   The home has 6 bedrooms, 9 bathrooms, 11,487 total square feet with a 4 car garage on 2.06 acres.   This home was sold in 592 days.  

   

 

Here is the data for luxury home sales for the second half 2015 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 2015 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!