Getting your player ready...
LIV Sotheby’s International Realty recently released a year-end luxury micro market report (MMR), indicating that the Colorado luxury real estate market demonstrated growth at the end of 2015. The luxury MMR compares 2015 year-end statistics, to those of 2014, for single family homes and condos priced $1M and above.
“The luxury market in metro Denver is as active as it was in 2014, and signs are promising for an even busier 2016,” said LIV Sotheby’s International Realty president, Scott Webber. “By the end of December, 2015, we saw over 1,000 properties sold in the last 12 months – 25% more than last year. The highest priced sale was an $11M property consisting of nearly 15 acres in Cherry Hills Village. The buyer was brought by LIV Sotheby’s International Realty broker, Susie Dews.” Demonstrating the trend of upward growth, property sales from January through December within the Denver metro area rose 25.6% over 2014 statistics; average price per square foot increased slightly by 6.3% and recent numbers indicate that days on market have decreased, from 115 to107 days, a 7.0% decrease. Total dollar volume sold continued to increase by 24.5%. The luxury home market continues to steadily rise in Colorado. As one of the fastest growing states, Colorado’s growing popularity, combined with the surging local economy, was the cause for a strong luxury sector in 2015. Inventory decreased the last quarter, however experienced an upward trend the first three quarters of the year. Luxury home prices were up the first three quarters, then leveled off and were stable the last quarter of the year. LIV Sotheby’s International Realty compiles monthly, quarterly and year-end reports for the residential areas the brokerage services, which includes 11 office locations in Denver metro, including Castle Pines, Cherry Creek, Denver Tech Center, Downtown Denver, Evergreen and Boulder and the resort communities of Breckenridge, Vail, and Beaver Creek, to help consumers make better real estate decisions, whether purchasing or selling a home. Reports can be accessed as ColoradoMarketReports.com. For more information, contact Brittanny Havard, public relations manager, LIV Sotheby’s International Realty at 303-486-3738. To service all of your real estate needs visit LivSothebysRealty.com.