Luxury Home Sales Near $1 Billion

In the first three quarters of the year, luxury sales in the Denver area hit almost $1 billion. Check out these statistics:

1. Buyers purchased a record $978.76 million worth of single-family homes and condos priced at $1 million or more in the first nine months of the year, a 4.5 percent increase from the previous record of $936.81 for luxury homes in the first three quarters of 2013.

2. This year, the luxury dollar volume accounted for 7.4 percent of total sales of $13.27 billion, while last year, the dollar volume accounted for 7.2 percent of the total sales volume of $12.86 billion.

3. In 2012, the luxury dollar volume accounted for a mere 5.07 percent of the entire market.

4. There were 53 luxury single-family home sales in September, a 7.02 percent drop from the 57 in September 2013 and a 36.14 percent drop from the 83 in August.

5. Sales volume of luxury homes experienced a 12.86 percent drop to $79.04 million from $90.7 million in September 2013.

6. The average days on a market for a single family home was 85, a 38.41 percent drop from 138 in September 2013 and a 24.1 percent decline from 112 in August.

7. Year-to-date, the price per square foot of a luxury home was $252 at the end of September, up 2.44 percent from $246 during the same time last year and 8.62 percent higher at $232 in 2012.

The improving economy, jumbo loans remaining near historical lows, and lower unemployment rates, both in Colorado and the nation, are playing a role in the increase in the overall housing market and the luxury market.

Alaris helps buyers and sellers with luxury real estate sales. Click here to make an appointment.

Alaris Properties, LLC

 


 
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