The real estate market in Metro Denver has seen a strong and stable performance throughout 2019. Although some luxury markets throughout the country are seeing a decline in activity over last year, Metro Denver’s $1,000,000 plus market continues to perform well and create opportunities for both buyers and sellers.
In September, Metro Denver’s luxury home market saw a 12% year-to-date increase in total sales volume. Within the same market and time frame comparison, properties sold also experienced a 14% hike, growing from 1,387 properties sold in 2018 to 1,583 in 2019. The increase in sales volume and homes sold is an indicator that consumers are still hungry for some of the more expensive homes on the market in the area. To further support this point, the average days on market for homes in this sector have dropped by 13%, making the current average time on market for a luxury home just 62 days.
Examples of this activity can be observed through recent significant sales in Metro Denver. Perhaps one of the highest priced homes sold in September was 2301 E Alameda Avenue. This beautiful home, which was listed by LIV Sotheby’s International Realty brokers Trish Bragg and Maggie Armstrong, was sold for $5,611,000. The house is an incredible Tudor-style home with a sprawling backyard and garden in the highly sought-after Country Club neighborhood.
Another recently sold home in the same neighborhood worth mentioning is 461 North Race Street. This home sold in September for $3,550,000 and LIV Sotheby’s International Realty brokers, Trish Bragg and Maggie Armstrong represented both the buyer and seller in this transaction. The house features modern finishes on the interior and a pool in the backyard, a less common amenity to find in the Colorado market.
Further south, 7 Meadowview Lane in Greenwood Village also made the list of recent significant sales and LIV Sotheby’s International Realty represented both sides, as broker team Chris Bouc and Ian Wolfe represented the buyer, and Katie Hoster represented the seller. This Cape Cod inspired home was sold for $3,100,000. The home sits on a nearly one-acre lot and offers plenty of space for a large family or for entertaining friends with seven bedrooms and a total of 8,644 square feet.
To learn more about Colorado’s real estate markets in Metro Denver, Boulder and the resort towns, visit coloradomarketreports.com. To service all of your real estate needs, visit livsothebysrealty.com.