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 million. Some have mountain and/or city views, 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 on acreage. Whatever a Buyer is looking for, most likely if you have over $1 million, you can find it in Denver or in the surrounding suburbs.
Here is how the luxury market fared for the month of January 2021
Total sales - 177 homes ranging from $1,000,000 to $7,850,000 (last month was 271 homes, 2020 was 86)
Average Days on Market - 68 days (last month was 49 days last month and 2020 was 85 days)
Average price per SF (Total) - $283.87 (last month was $291.65)
These homes were built from 1906 to 2021
The highest-priced home sold was $7,850,000 in the Denver Metro and is in Cherry Hills Village. This expansive home was built in 1940, on 2.69 acres with an 8-car garage. This home has 5 bedrooms, 12 bathrooms, and 14,239 total finished square feet. This home was on the market for only 229 days.
There were no short sales sold, and no bank foreclosures sold this month.
Even many of our luxury homes are going pending and seeing multiple offers.
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? There are currently no bank-owned properties for sale and there are no short sales listed.
Contact me for bank-owned properties for sale
As we have frigid temperatures, I know many are looking forward to the weather warming and spending time outdoors. Love this outdoor space?
Today, you will find 283 homes for sale in the Denver metro area listed over $1,000,000 up to $19,750,000. They have been on the market for an average of 128 days and these homes were built from 1870 to 2022. This amount has decreased from last month.
There are 414 homes currently pending over $1,000,000 up to $7,600,000 with an average 78 days on market. These homes were built from 1885 to 2021. (This amount has increased from 268 last month.)
Here is how 2019 compared to 2020
Total Sales 2019 - 1,810 2020 - 2,739
Days on Market 2019 - 61 days 2020 - 53 days
Average Price Sold 2019 - $1,300,000 2020 - 1,302,500
% Seller Saw to List 2019 - 97.65% 2020 - 97.06%
With the equity increases we have seen over the last several years, it is not unusual to see homes priced over $1,000,000 now all over the City.
I have obtained my luxury marketing certification and 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.