Denver Luxury Real Estate | Denver Luxury Homes | Quarterly Update

Denver Luxury Homes | Denver Luxury Real Estate | Quarterly Update

Denver Luxury Homes and Real Estate market has taken an expected hit along with the declining economy. However, not as big of a hit as in some other areas. Luxury homes are still selling, just not quite at the same rate than they were even just two years ago. Take a look at the difference in the average days on the market. The average days on the market have almost doubled since beginning of 2008.

  III/07 IV/07 I/08 II/08 III/08 IV/08 I/09 II/09 III/09
# Houses sold 59 45 42 64 48 25 21 30 41
Average Days on Market 190 215 186 198 182 185 262 322 313
% Difference List price vs. Sold 89.2 90.8 90.3 89.6 89.2 89.6 86.3 82.8 84.8

he luxury homes sales are down from last year. It's highly unlikely to be able to reach similar number of closed sales as in 2008. There are 266 luxury homes for sale in Denver (as of Oct 1st, 09). 16 houses are pending sale i.e. under contract.

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Denver luxury homes sold graph

Denver Luxury Real Estate ave days on market

Denver Luxury homes graph percent diff

Denver luxury homes and real estate price per sf

One notable decline has been occurring is the difference from original list price to sold price. In 2007, 61% of houses sold no less than 10% of original listing price (in the range from 90% to 100%+). In 2008, the same figure was 53% and this year 37%. Majority of houses this year, 63% have sold for 90% or less of the original listing price. See further break down of the percentage on the pie charts below.

Denver luxury homes and real estate pie chart 2009

Denver luxury real estate sales trends 2008

Denver Luxury real Estate trends 2007

Graphs present quarterly averages. Residential detached single family homes only.

What do these graphs mean to you, the seller? The graphs and figures give you an idea of market changes and trends. However, these are averages. There are variations from one area or neighborhood to the next. In order to give you the best estimated value of your house, a custom analysis - specific to your house - is recommended. We'd be happy to put one together for you.

This Denver Luxury Homes Real Estate Market Report is brought to you by Rita Burke, Kenna Real Estate. The report is for residential single family homes only and may not include all sales activity in the area. Figures for sold prices used are NET sold price, price after seller concessions or down payment assistance, if they were any.  This report or any part of it may not be used without permission.


Copyright 2009.© Kenna Real Estate. Brian Burke. All Rights Reserved. Oct 2nd 2009. "Denver Luxury Homes | Denver Luxury Real Estate | Market Report".

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