September 2017 ~ 7 County Luxury Market Homes Sold For $1 Million Or Greater

 

Posted by Damon L. Chavez on Tuesday, September 26th, 2017 at 12:07pm.

Market Metrics:

By the numbers, the inventory of available homes for sale is 927 homes at month end, 234 homes came onto the market, 132 homes were placed under contract, and 125 homes closed for $1 Million or greater with an average sold price of $1,565,306 resulting in a closed dollar volume of $195.7 Million. 

Monthly Market Recap:

                                                                          Single Family                          Condo

Active Inventory at month end                    845                                           82

New Listings                                                     194                                           40

Under Contract                                                 112                                           20

Number Sold                                                     111                                           14

Average Sold Price                                           $1,584,662                              $1,411,840

Closed $ Volume                                               $175.9 Million                       $19.8 Million

Lowest Sold Price                                             $1,000,000                               $1,000,000

Highest Sold Price                                            $8,116,000                               $2,170,000

Average Price/Square Foot (Above Ground)    $426                                    $536

Average Price/Square Foot (Total)                     $286                                    $483

Sold Price as % of List Price                                 98.33%                               97.37%

Average Days on Market                                       103                                     68          

Of the 111 Single Family homes sold, the highest priced closing for the month was $8.1 Million representing 6 Bedrooms, 9 Bathrooms, and 6,330 above ground square feet.

Of the 14 Condo homes sold, the highest priced closing for the month was $2.17 Million representing 3 Bedrooms, 4 Bathrooms, and 3,085 above ground square feet. 

Year-to-Date Market Recap with Year Over Year % Comparisons:

                                                                            Single Family                            Condo             

 Number Sold                                                          896         (↑22%)                              116            (↑73%)

Average Sold Price                                           $1,538,123        (↑%)                 $1,411,660           (↓11%)

Closed $ Volume                                               $1.4 Billion        (↑23%)            $163.8 Million     (↑54%)

Lowest Sold Price                                             $1,000,000                                  $1,000,000

Highest Sold Price                                            $8,116,000                                  $4,950,000

Average Price/Square Foot (Above Ground)   $414                                        $528

Average Price/Square Foot (Total)                     $273                                       $454                            

Price as % of List Price                                        97.27%          (↔)                  97.93%             (↓7%)

Average Days on Market                                   104                   (↓2%)               154                   (100%)

One Thousand Twelve (1,012) homes closed YTD August 31, 2017 for $1 Million or greater with an average sold price of $1,523,627 resulting in a closed dollar volume of $1.54 Billion.

The above representation covers a seven (7) county area including the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson.

The above representation may or may not reflect all real estate activity in the market.

Source of the data:  REcolorado.com – September 8, 2017