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Luxury Single-Family Home Sales Increased 11.9 Percent in January While Luxury Condo Sales Increased 60 Percent

02/12/18 by Marketing Web

          Kentwood Real Estate has released the company’s comprehensive real estate statistics for January 2018 for single-family homes, luxury residences, Greenwood Village, Cherry Hills Village, the City of Denver, and the Cherry Creek neighborhood.  Kentwood’s latest report shows that luxury single-family home sales increased 11.9 percent in January compared to the same period in 2017 with 75 closed sales, while luxury condo sales increased 60 percent with eight total sales compared to January 2017.     

There is currently a total of 567 million dollar residential and condo listings in the metro Denver area, with Kentwood Real Estate holding a significant market share with 74 million dollar listings.  Closed sales volume for luxury residences was $113,918,267 in January, while closed sales volume for luxury condos was $13,338,000, a 78 percent increase compared to January last year.  Following are details for January 2018. 

Average Sales Price for Luxury Residences in

January Decreased 8.4 Percent to $1,518,910 While Average Sales Price for Luxury Condos Increased 11.2 Percent to $1,667,250

The average sales price for single-family luxury homes decreased 8.4 percent in January to $1,518,910.  Average days on the market increased 10.4 percent to 138.  Highest sold price was $3,962,500.  There are a total of 522 active residential listings.

Luxury condominium sales in January averaged 84 days on the market, which was a decrease of 58.2 percent over January 2017.  The highest sold price was $3,100,000.  There were 45 active luxury condominium listings.  Closed sales volume year over year was $13,338,000, a 78 percent increase over last year, while the average sales price year over year increased 11.2 percent to $1,667,250.

Market Recap for The Villages Shows Average Sales Price Increased 0.5 Percent to $1,773,571

Kentwood Real Estate’s latest real estate market statistics for Cherry Hills Village and Greenwood Village for January show the average sales price increased 0.5 percent over last January to $1,773,571.  Closed sales decreased 6.7 percent over January 2017.  The highest sold price in January was $3,962,500, while the average number of days on the market decreased 25.1 percent to 125.  Closed sales volume was $24,830,000, an 11.4 percent increase over January last year.  Average price per square foot was $407 for a 6.4 percent decrease over last January.     

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