Both the total dollar volume and the number of luxury home sales in the Denver area soared by 19 percent in the first eight months of this year, compared with the same time period last year, according to a report released today by Kentwood Real Estate.
Through August, buyers paid $492.1 million for 325 homes priced at $1 million or more, shows Kentwood’s analysis of Metrolist data in the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson.
That compares with 273 luxury home sales for $413.6 million during the same period in 2011. On a year-to-date basis, the average number of days on the market in this lofty price range fell by 7.7 percent to 222 days from 202 in 2011.
August showed even bigger percentage gains.
There were 45 homes priced at least $1 million that traded hands in the metro area last month, a 60.7 percent increase from the 28 luxury homes that sold and closed in August 2011.
The closed sales volume in August rose by 47.2 percent to $63.46 million from $43.13 million in August 2011.
There are currently 618 single-family homes priced at least $1 million on the market. Of those, 94 are under contract. Some 172 of the luxury homes for sale are priced from $1 million to $1.25 million and 38 of those are under contract.
The next largest price band is between $1 million and $2 million. There are 143 homes in that price range on the market and 17 of them are under contract. Not far behind, there are 134 homes on the market with asking prices between $1.25 million and $1.5 million and 21 of those are under contract.
There are only 47 condos on the market priced at $1 million or more. Of those, 16, or 34 percent, are priced between $1 million and $1.25 million. Nine of those are under contract.
The only other price range with a double-digit number of condos on the market is between $1.5 million and $2 million. There are 10 condos priced in that range. One of those units is under contract.
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