Denver’s Luxury Housing Market Sees Strong March; Boulder Up 143%

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Denver’s Luxury Housing Market Sees Strong March; Boulder Up 143%

Pictured Above: 125 Meadowlook Way, Boulder CO. Listed by LIV SIR broker, Sonica Chritton, for $2,199,500.

The number of luxury homes sold (sales over one million) in the metro Denver market in March increased dramatically from both the prior month and March 2014, according to a report released Monday by LIV Sotheby’s International Realty. Colorado’s strong local economy combined with homeowner equity and rate of sale continuing to climb, indicate that the 2015 luxury market is off to a strong start.

In metro Denver 74 homes with a price tag of more than $1 million sold in March, up 51 percent from February, and 32 percent year-over-year, according to the monthly analysis based on information from REColorado.

“Luxury home sales throughout the entire metro Denver area are experiencing an advanced market,” said LIV Sotheby’s International realty president, Scott Webber. “Days on the market are decreasing while luxury sales continue to charge ahead. In March in Boulder, homes sold with a price tag of over $1 million were up 143%; those numbers are a reflection of a resurgent luxury sector.”

In Denver metro, the average days on the market decreased slightly from 154 days in February 2015 to 132 days in March 2015. A 14% decrease, down from the 132-day average set in March and the 139-day average from February 2014.The average selling price stood at $1.44 million.

Boulder County experienced a significant portion of luxury sales; 34 homes with a price tag of more than $1 million sold in March, up 143% percent from February and 26 percent year-over-year (statistics pulled from IRES LLC).

“The spring market is really heating up, with 34 sales of properties over $1M in the month of March – a 143% increase over 14 in February,” said Boulder managing broker, David Carner, of LIV SIR. “With 266 listings currently on the market, we now have just an 8 month supply of inventory. Boulder proper continues to be the strongest draw, with a little over half of the activity taking place in the city, but we’re also seeing renewed interest in rural, farm and ranch property in East Boulder County.”

The average selling price in Boulder stood at $1.52 million, down 14% from February, and down 10 percent year-over-year. The most expensive home sold for $3.4 million, according to the report, which was a 5-bedroom, 7-bath residence with 6,792 square feet.

LIV Sotheby’s International Realty compiles monthly, quarterly and year-end reports to help consumers make better real estate decisions, whether purchasing or selling a home.

To access current market reports, visit www.coloradomarketreports.com. For more information, contact Boulder managing broker, David Carner, of LIV Sotheby’s International Realty at 303.226.4611. To service all of your real estate needs visit www.livsothebysrealty.com.

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