Most news reports define the luxury real estate market as homes over $1 million, which seems rather arbitrary to us. Homes over $1 million in Central Denver, Cherry Hills Village, and Greenwood Village during the past 12 months account for 20% of all sales. Instead of assigning an arbitrary fixed number, we looked at the […]
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Last week the Denver Post reported that the “number of homes on the market surged” in August compared to August of 2017, and the Denver Business Journal reported that the “Denver housing inventory hit [a] four year high.” Both of these articles are based on the recently released Denver Metro Association of Realtors’ market trends […]
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The average days on market for a home in central Denver last year was 28 days. That number fluctuates at different price points. We divided the total number of home sales from last year (2,635 homes total) into equal quarters: The fourth quarter, the luxury quarter of the market (homes over $830,000), sat on the market […]
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2017 residential real estate market trends for central Denver (see map) continued to mirror the past six years’ trends. It’s all about supply, or lack thereof. December 2017 set the all time record low of only 227 homes available for sale. By contrast, in December 2010 the market had 2,302 available homes! The lack of […]
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The central Denver real estate market has seen excellent appreciation since 2009 – up 76%. During that time median prices have fluctuated on a month-to-month basis; however, there does appear to be a seasonal pattern. Over the past four years, the most significant step-up in appreciation occurred during the first four calendar months followed by a flatter appreciation rate […]
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