Denver Luxury Real Estate Market On The Rise

Denver and surrounding area of Colorado luxury real estate market have seen a 22 percent increase in resales (sales of homes that have been sold at least once before) in November as compared to the same month in 2009 according to Metrolist Inc. data.

 

34 homes and five condos sold for the price of $1 million or more compared to only 32 last year. The five condo sales were the highest for condo sales in a single month this year.

Total residential real estate sales, however, were down 26 percent to 2,666 units from 3,599. The average price of luxury real estate in Denver decrease by 15.5 percent to $1.42 million. Luxury real estate sales totaled $48.13 million, down from 10.22 percent or $53.85 in sales, with the average low price of $1 million and the average high price of $5 million.

Why an Increase in Luxury Home sales in Denver

The primary reason for the increase in sales was the improvement in jumbo mortgage loan market, which is geared towards the financing of high-end luxury homes. Loan financiers such as Wells Fargo and Chase has increase the availability of jumbo loans with interest rates ranging from 4 to 5 percent.

The November Metrolist data covers the seven Denver-area counties — Arapahoe, Adams, Boulder, Broomfield, Denver, Douglas and Jefferson — as well as counties west of the metro area such as Clear Creek and Park. Boulder County had the highest number of $1 million-plus house sales last month, at nine, followed by Arapahoe, Denver and Douglas counties, with seven each.

Jefferson County had two high-end sales, while Clear Creek and Park counties each had one. Three luxury high-end condo sales were in Denver County, and the other two were in Boulder County. Denver Luxury real estate sales this year, including houses and condos, through November experience an increase of 15.5 percent.

 

Home for Sale in Denver, Colorado

5896 Alton St

Denver

Sale
$ 555,050
5896 Alton St Denver home for sale
3 Baths
4 Beds
2570 SqFt
N/A Garages

2210 Meade St

Denver

Sale
$ 1,174,000
2210 Meade St Denver home for sale
3 Baths
4 Beds
3987 SqFt
N/A Garages

531 Cook St

Denver

Sale
$ 1,799,000
531 Cook St Denver home for sale
5 Baths
4 Beds
4936 SqFt
N/A Garages

3129 W 62nd Ave

Denver

Sale
$ 745,000
3129 W 62nd Ave Denver home for sale
4 Baths
4 Beds
3584 SqFt
N/A Garages

4968 Newton St

Denver

Sale
$ 715,000
4968 Newton St Denver home for sale
4 Baths
4 Beds
2601 SqFt
N/A Garages

3720 Newton St

Denver

Sale
$ 1,100,000
3720 Newton St Denver home for sale
3 Baths
4 Beds
3487 SqFt
N/A Garages

2337 S Elm Dr

Denver

Sale
$ 575,000
2337 S Elm Dr Denver home for sale
2 Baths
4 Beds
1970 SqFt
N/A Garages

2270 E 83rd Pl

Denver

Sale
$ 329,000
2270 E 83rd Pl Denver home for sale
2 Baths
4 Beds
1800 SqFt
N/A Garages

2061 S Columbine St B2

Denver

Sale
$ 720,000
2061 S Columbine St B2 Denver home for sale
4 Baths
4 Beds
3195 SqFt
N/A Garages

5060 Perth St

Denver

Sale
$ 340,000
5060 Perth St Denver home for sale
3 Baths
4 Beds
1924 SqFt
N/A Garages

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