National home sales have increased almost 10 percent over the last 12 months, even as inventory is decreasing. Good news for our Denver market and property values of luxury homes in Denver.
Single Family Residential
|Values $500,000 - $749,999||Values $750,000 - $999,000||Values $ 1 Million+|
|Active Inventory||Over All Markets||3,338|
|Average Days on Market||90||90||124|
|Per Square Foot Total||$170.00||$188.00||$276.00|
No winter blues on the high end of the market. February’s 22 inches of snow in the Denver area did not bury the high end market last month; in fact, it heated up.
Nearly 9% more properties sold in the Signature Market ($750,000 - $999,999) in Feb than in Jan (24% increase compared to 2014).
The Luxury Market ($1,000,000+) saw an increase of 40% more homes selling in Feb than Jan. The price per square foot is on the rise!
- Jill Schafer, DMAR Market Trends Committee