Luxury homes in the metro Denver area remains hot. December showed a 44.64% increase in homes sold compared to November’s and on average, sellers got more than 9% for their homes compared to November sellers. A total of 81 luxury homes priced at $1 million or above sold in December, compared to 56 in November. This was a 58.82% increase compared to the 51 luxury homes sold in 2013. Total dollar volume for December was $120.7 million, a 57.21% jump from $76.75 million in December 2013. The sales volume was also 40.98% higher than the $82.1 million in November. Average price per square foot for December came in at $266, up 14.66% from $225 in December 2013. The market had only a 1.28 month supply at the end of December for high-end homes while homes priced from $100,000 to $399,000 had less than month’s supply.
Last year, a total of 801 luxury homes were sold, a 10.33% increase from 726 in 2013. The average price per square foot for the entire year came in at $252, up 2.4% from $246 in 2013 while total sales volume hit $1.2 billion, a 9.27% increase compared to $1.1 billion in 2013.