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 June 2021
Total sales - 563 homes ranging from $1,000,000 to $9,000,000 (last month was 428 homes, 2020 was 225)
Average Days on Market - 19 days (last month was 18 days last month and 2020 was 43 days)
Average price per SF (Total) - $308.67 (last month was $306.84)
These homes were built from 1886 to 2021
The highest-priced home sold was $9,000,000 in the Denver Metro and is in Polo Club. This expansive home was built in 2017, on 1.27 acres with a 3-car garage. This home has 5 bedrooms, 7 bathrooms, and 10,177 total finished square feet. This home was only on the market for 58 days.
Even many of our luxury homes are going pending quickly and seeing multiple offers. There was a huge uptick of sales for the month of June, and believe this was a push to get into homes prior to school starting early August.
Contact me for bank-owned properties for sale
With August weather, we know there will be some very warm days, and spending some time in the pool would feel very refreshing. Love this outdoor space?
Today, you will find 542 homes for sale in the Denver metro area listed over $1,000,000 up to $25,000,000. They have been on the market for an average of 71 days and these homes were built from 1885 to 2022. This amount has increased substantially from last month.
There are 488 homes currently pending over $1,000,000 up to $16,950,000 with an average 44 days on market. These homes were built from 1870 to 2022. (This amount has decreased from 488 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.