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Summer is in full swing. We’ve hit mid-year and we’ve been trying to soak up the rays and avoid getting drenched from all the rain.
Year to date in the Luxury Market, single-family home sales were down 2.72 percent year over year, but up 34.05 percent compared to 2017 with 242 more single-family homes sold this year compared to 2017. The luxury condo market also saw striking results with sales up year to date at 38.78 percent year over year and 4.26 percent since 2017, with 42 more luxury condos sold since 2017.
Making a splash and sliding downward are the days on market in the single-family luxury segment with an average of 58 days on market year to date, down 13.43 percent year over year and 22.99 percent since 2017. Also sliding downward were the luxury condo average days on market, down 19.70 percent from one year ago from 66 to 53 days on market, and down 14.29 percent from 2017.
While things seem to be pointing in the right direction with more inventory in the luxury segment of the market, sales of single-family luxury homes were slightly down from 1,067 sales year to date in 2018 compared to 1,038 year to date in 2019, a 2.72 percent decrease. Diving into the numbers, they still look good as we are in a more balanced market and all signs show this is good for both buyers and sellers in the Denver Metro Luxury Market.
Pricing is key and we’re still not hitting the mark with sales price to list price at 97.62 percent for the luxury single-family homes and 97.99 percent for luxury condos. Even with it being challenging to price the single-family luxury homes, we have seen a 4.56 percent increase in price per square foot at $298 and luxury condos were up 23.30 percent at $635 price per square foot. With these stellar prices, we’re definitely not in Kansas anymore, Toto!
Wow! Another year as a Five Star Professional Winner! Thank you God, my amazing husband Jay Modglin, my beautiful daughter, Reagan, my parents and friends and family for giving me the strength and support every day to do what I do. This career demands a significant amount of our time but it is so rewarding to help families find a place, be their advocate and guide them throughout the process to where in the end, they get to call it HOME. I am so grateful, honored and so very very blessed to win the award for 2018 and 2019 Five Star Professional for Real Estate. Thank all my clients and industry partners for your very positive feedback that helped me earn this award.
Five Star does in depth research to make sure they are nominating Realtors who exemplify truly exceptional service to their clients. Only 4 percent of real estate professionals are nominated for this award and out of over 22,000 agents in Colorado that’s a true honor. Thank you Five Star Professional and to all my clients, industry partners, family and friends as I could have not received this without your support!
Award candidates are identified through evaluations completed by consumers. To receive the Five Star Real Estate Agent award, a real estate agent must satisfy five objective eligibility and evaluation criteria that are associated with real estate agents who provide quality services to their clients. The award process is conducted annually in each market.
Recent homebuyers are asked to evaluate real estate agents with whom they have worked and evaluate them based upon ten criteria. Recent homebuyers may evaluate up to two real estate agents in order to measure the experience associated with the purchase and sale side of a move. Self-nominations are not accepted.
Five Star Professional:
Conducts comprehensive research
Recognizes service professionals
Partners with leading city/regional magazines
Helps award winners gain the recognition they deserve
Your next home is in the Beauvallon Condos! This sophisticated one bedroom offers a large west facing covered terrace with approx. 300 sqft of space to entertain or relax, granite counter tops in the kitchen and bath, breakfast bar, neutral paint and carpet, upscale lighting fixtures and ample storage through the condo. Building amenities include 24-Hour concierge/security, outdoor pool and hot tub, professionally maintained gardens and lounge area on common roof top area, city and mountain views with close proximity to Cherry Creek, LoDo, Downtown and I-25 and 6th Avenue. Make this one your next Denver residence! For full listing details visit my website www.BrigetteModglin.com