During the summer season, real estate, including all price points, continues to hold steady while Coloradans focus on spending time with family, friends and the beautiful outdoors.
However, one interesting factor, according to LIV Sotheby’s International Realty’s just-released July luxury market report, is that the luxury markets for both metro Denver and Boulder County continue to be hot.
“This is an excellent time for the luxury buyer in Denver metro,” says LIV SIR president Scott Webber. “Looking at the year-to-date and the last 12 months data, the luxury sector is healthy and active, with significantly more listings available for sale and an impressive 31 percent increase in listings sold from 2017 to 2018.
“Interestingly enough, the average sold price for homes $1,000,000-plus has not escalated like the rest of the market and shows very little increase. This proves to be a unique opportunity — and good value for luxury buyers — that may not last long.”
Average days on the market for luxury homes continues to drop fairly dramatically, from 111 days in 2017 to 87 days this year, meaning buyers in this market should be prepared to act quickly.
Within metro Denver and including all price points, the average sold price jumped almost 10 percent both year-to-date and year-over-year. Also worth noting, the highest price increased 33 percent from $6 million to $8 million year-to-date.
Trish Bragg and Maggie Armstrong, brokers with LIV SIR, represented both sides of the most expensive residential sale in metro Denver for July, at 470 Race St. This beautiful, picturesque home sold for $4,036,670 and includes six bedrooms and five bathrooms and covers 7,432 square feet.
For all price points in Boulder County, total sales volume for both year-to-date and year-over-year is holding at a steady 10 to 11 percent increase, the same as reported in June. Days on the market and listings sold basically remained flat. The biggest shift is a 21 percent increase for highest price.
In Boulder County, the highest sale in July was a 7,698-square-foot home at 3840 Pleasant Ridge Road. This 4.25-acre, four-bedroom, six-bathroom home sold for $8,137,400.
Specifically focusing on the luxury Boulder County market, LIV SIR is seeing a large increase in total sales volume and listings sold for both year-to-date and year-over-year. The average sold price also increased 20 percent.
“Coming as no surprise, Boulder County continues to prove as a highly valued area,” Webber said. “We are thrilled to see the Boulder market thrive during the summer months and anticipate an increase in active listings in the fall season.”
To access current market reports, visit ColoradoMarketReports.com. To list your home for sale with LIV SIR, visit LIVSothebysRealty.com or call 303-893-3200.
The news and editorial staffs of The Denver Post had no role in this postap preparation.
