The Inventory of active Denver Luxury Homes has declined drastically over the past 5 years. This decline in available inventory has lead to a rise in prices of those luxury homes that have sold by 14%. We’ve compiled a chart of the active luxury home for the past 5 years below. (Luxury homes are considered homes priced over $1,000,000.)
It’s a volatile market, and with less inventory to choose from, Denver’s luxury buyers are forced to compete with the growing pool of buyers for these homes.
From The Denver Business Journal:
Continued low inventory among metro Denver luxury homes drove prices higher and average days on the market lower, according to report Friday from Kentwood Real Estate.
There were 26 homes with a price tag over $1 million sold in January, down 16 percent from the 31 sold last year. But average prices jumped 14 percent year over year and days on the market plunged almost 50 percent, from 209 days in January 2013 to 108 days last month.
Active Denver Luxury Homes:
| Jan | 940 | 1,909 | 1,490 | 1,398 | 1,125 | 671 |
| Feb | 1,029 | 1,933 | 1,573 | 1,386 | 1,208 | |
| Mar | 1,170 | 1,997 | 1,665 | 1,464 | 1,249 | |
| Apr | 1,293 | 2,177 | 1,753 | 1,476 | 1,299 | |
| May | 1,466 | 2,148 | 1,848 | 1,539 | 1,360 | |
| Jun | 1,612 | 2,135 | 1,921 | 1,622 | 1,382 | |
| Jul | 1,756 | 2,088 | 1,903 | 1,644 | 1,389 | |
| Aug | 1,856 | 2,008 | 1,907 | 1,614 | 1,304 | |
| Sep | 2,016 | 1,917 | 1,863 | 1,558 | 1,167 | |
| Oct | 2,135 | 1,816 | 1,774 | 1,444 | 999 | |
| Nov | 2,180 | 1,703 | 1,691 | 1,369 | 797 | |
| Dec | 1,966 | 1,563 | 1,585 | 1,268 | 704 |
Based on information from Metrolist®, Inc. for the period 2009 through 2014 Note: This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.
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