Mid-Year Luxury Market Update

Aug 25, 2014

The Denver Metro Association of Realtors® reported 487 single-family homes and condos priced at $1 million or more sold across the region through July. This is the first time the association has reported on luxury home sales in the Denver area and beyond, into Clear Creek, Elbert, Gilpin and Park counties.

  • The price paid for all of these properties adds up to $761.9 million. That represents about 7.65 percent of the $9.96 billion in all sales from January through July.
  • While there were far fewer condo sales, by most metrics, they are out-performing single-family homes on a year-over-year basis.
  • The average sold price for a home is $1.556 million, up 1 percent from the first seven months of 2013 and the average price of a condo is $1.67 million, a 12 percent increase, year-over-year.
  • The average days on a market, in the first seven months of the year, is 106 for single-family homes, a 42 percent decline from the same period last year.
  • For a luxury condo, year-to-date, the average days on the market is 111, down 33 percent.

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