The luxury market in the Denver metro area enjoyed another month of very strong sales where sales saw another dramatic increase over May 2017. With home values showing heavy increases, we are seeing more and more homes in the metro area attaining the million dollar mark.
It is that time of year where we enjoy spending quality time outdoors after a long day at work. Watching the sunsets is always a treat with a fire once the sun sets and starts getting cooler. With a few clouds, the sunsets can sure be stunning in Denver!
Days on market decreased from 29 days in May to 22 days in June. The average sales price increased slightly from $1,275,000 to $1,292,500 in June.
There are 873 current active luxury listings in the Denver metro area with an average of 87 days on market. These homes listed were built from 1886 to 2018 (brand new construction). There are no short sales and one bank owned property in Littleton listed for $1,625,000. There are 183 properties listed at $1 million and above under contract as of today.
Remember the Sleeper Home? This one is very unique in Evergreen also! Imagine having round walls!
**photo courtesy of REColorado
Looking at the sales in June 2017, there were no short sales nor bank owned property sold, and 16 were new builds sold.
Here are the sales by City within the Denver metro area - (Boulder is not included)
One home remained on the market for 628 days (1.72 year), but only seven homes sold in June remained on the market longer than one year. On the flip side, 39 homes sold in less than one week. This is a quick turn around for a million dollar home!
The highest sale in the Denver metro area was $5,000,000 and was located in Cheesman Park very close to downtown Denver. This home was built in 1923 and maintained its charm and character. It has 8.680 total square feet, 4 bedrooms, 6 bathrooms and a 2 car garage all on a half acre, which sold in 47 days.
Here is the data for luxury home sales for the second half of 2016 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 showed the most sales of 189 (but that was including Boulder).
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 (which are not included in this report).