LIV Sotheby’s International Realty Releases Mid-Year Luxury Market Report
Posted by Brittanny Havard — August 10, 2015
DENVER, CO – On July 27, 2015, LIV Sotheby’s International Realty released a mid-year Luxury Report, which compares 2015 mid-year statistics, to those of 2014, for single family homes and condos valued at over $1 Million+.
Demonstrating the trend of upward growth, mid-year property sales, within the seven counties of Denver metro (including Boulder) represented in the report, rose 28.69% over mid-year 2014 statistics; average price per square foot jumped 6.71% and recent numbers indicate that days on the market have dropped 5.13%. Total dollar volume sold increased by 23.29%.
“Colorado is one of the fastest growing states, and the mid-year luxury report indicates growth in the luxury sector,” said LIV Sotheby’s International Realty president, Scott Webber. “Luxury homes are selling in a reasonable time frame, however buyers still want to make an informed decision as to the investment quality of the property.”
The Luxury Report uncovered several neighborhoods reflecting significant improvement over (an excellent) 2014: Total Dollar Volume in Sales between 2014 and 2015, in Denver County is $295,360,948 – up 37.45%. In Boulder County, Total Dollar Volume in Sales increased from $180,830,421 in 2014, to $268,651,312 – up 48.57%.
In the resort mountain areas of Eagle and Summit County, the luxury market remains vibrant and healthy; however buyers have become savvier about not just value, but are learning to determine their actual wants and needs. The current real estate climate allows homes to be priced aggressively, yet not without a good understanding of neighborhood area market conditions and buyer preferences.
At the mid-year point, Eagle County saw an especially high volume of activity, due to an increased number of visitors and second home owners in town during summer months, which tend to be a popular time for home buying in the luxury sector.
In Summit county, increased homeowner equity and property values demonstrate a continued strong residential luxury market at the mid-year point of 2015. The proximity to both the urban offerings of Denver metro, and the famous Colorado Rocky Mountains, position Summit County as one of the leading resort community destinations worldwide. With the increasing desire for lifestyle-inspired home purchases, the resort market in Summit County will continue to rise.
Whether buying or selling a home, understanding your local market will give you the confidence to move forward. LIV Sotheby’s International Realty compiles monthly, quarterly and year-end reports to help consumers make better real estate decisions. To access current market reports visit www.coloradomarketreports.com. To service all of your real estate needs visit www.livsothebysrealty.com.
About LIV Sotheby’s International Realty
LIV Sotheby’s International Realty, the exclusive Board of Regent for the Who’s Who in Luxury Real Estate, has 10 office locations in the Denver Metro and surrounding areas, including Boulder, Castle Pines Village, Cherry Creek, Clayton Street, Denver Tech Center, Downtown Denver, Evergreen and the resort communities of Breckenridge and the Vail Valley. For more information call 303.893.3200. To service all of your real estate needs visit www.livsothebysrealty.com.