Mark Hunke

Denver Real Estate Specialist

The Mark Hunke Team
Your Denver Real Estate Experts
Call Us Today
303-619-7793
  • Home
  • Luxury Communities
    • Castle Pines Village
    • Chenango in Centennial, Colorado
    • Cherry Creek
    • Cherry Hills Village Real Estate
    • Denver’s Country Clubs
    • Denver Executive Homes
    • Denver Highlands
    • Greenwood Village
    • Highlands Ranch Real Estate
    • Observatory Park
    • Park Hill Colorado
    • Polo Grounds Colorado
    • The Preserve Colorado
    • The Pinery, Parker, the Club at Pradera
    • Red Rocks Country Club, Willow Springs, Willow Brook
    • South Aurora, Colorado Real Estate
    • Washington Park
  • Luxury Home Search
    • Luxury Home Search Form
    • Featured Properties
    • Map Search – Denver Luxury Homes
    • Find My Dream Home
    • Denver Relocation Guide
    • Get Luxury Property Alerts
  • Buyers
    • Buying a Home
    • Step 1 – Choose a Realtor
    • Step 2 – Get a Loan!
    • Step 3 – Research the Neighborhood
    • Step 4 – Submitting the Offer
    • Step 5 – Closing The Deal & Moving In
  • Sellers
    • Sell Your Home
    • Selecting a Professional Denver Luxury REALTOR®
    • Are You Ready to Sell a Luxury Property in the Denver Area?
    • Determining the Listing Price
    • Real Estate – Selling Your Home FAQ
    • What’s the Best Listing Price For Your House?
  • Finance
  • About
    • About Mark Hunke
    • Denver Real Estate Blog
    • Letters of Recommendation
    • Realtors – Join The K Company
  • Contact

Final 2014 Numbers Show Big Luxury Market Surge in Colorado

January 14, 2015 By Mark Hunke

Beautiful MansionContinuing the trend of upward growth that showed up in the fall of 2014, recent numbers demonstrate that the luxury market saw far more sales in December 2014 than was initially expected. The market had seen growth in both October and November but was expected to see a decrease in home sales during December due to the approaching holidays. Instead, the opposite occurred and the market seems to be booming in a big way.

A Strong December Surge

Generally, luxury home purchases tail off near the end of the year, largely due to the fact that the holiday season is so financially demanding. This year, that trend seems to have reversed. Across the United States, holiday shopping dropped by almost 1% over the same period 2013. However, luxury home sales in the Denver area rose from 51 in 2013 to an astonishing 81 in 2014. This represents growth of more than 58% and bucks many real estate trends. It also marks a large increase over November’s numbers, where 56 total homes were sold. This might be an indicator that people are investing long-term when it comes to luxury buying. What is certain is that this surge adds to several months of strong growth in the Denver area.

Prices Rise, Too

For the most part, prices in the luxury home market have remained the same in 2014 as they have in 2013, even decreasing in some areas. That changed in December, which saw an average price of $266 per square foot of real estate. This represented an increase of $41 over what the same time period in 2013 saw. Right now, this is only a one-month trend that needs more evidence in order to evaluate fully. However, if this turns out to be more than a momentary increase, this could signal some interesting things for the economy as a whole. The price increase could indicate that as the economy gets stronger people are more willing to spend a few extra dollars to get the homes they really want.

Possible Causes of the Surge

There are many possible reasons that the luxury home market is on the rise in the Denver area. For starters, it is quite possibly a direct result of Colorado’s growing popularity, since the state is one of the fastest-growing in the United States. Another factor at play may be the surging United States economy, which has been recovering over the course of several years. The idea that people were trying to push for a sale before the end of the year for tax purposes might have merit but seems less likely to be a full explanation, since this is a trend that has been building for many years now.

At its core, this news means that 2014 was a good year for luxury homes. The price increase in December might signify an improvement in the seller’s market, but it will take a few months for that to become a solid trend. This does demonstrate the power that the Denver area has on luxury buyers, as more and more people are interested in coming to the region.

Filed Under: Luxury Homes Tagged With: colorado

Recent Posts

  • New Home Sales Slow Despite Lower Prices
  • Higher Credit Scores are Coming: Are You One of the Lucky Ones?
  • The Housing Market Slump Still Exists in Some Locations
  • Fewer New Builds – Why the Sudden Slowdown?
  • Do Walk-In Closets Improve Home Values?

Categories

  • Centennial Colorado
  • Cherry Hills
  • Denver Area
  • Denver Real Estate
  • Energy Efficient Properties
  • Financing
  • Greenwood Village
  • Highlands Ranch
  • Home Buyers
  • Home Rentals
  • Home Sellers
  • Investment Properties
  • Job Market
  • Luxury Homes
  • Parker Colorado
  • Real Estate
  • Uncategorized

Search for Homes

Property Type:
City
Price Min:
Price Max:
Bedrooms:
Baths:
MLS#:
Zip Code:
Show Properties
  • Facebook
  • LinkedIn
  • RSS
  • Twitter
5-star logo
IDX Logo The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange (IDX) program of METROLIST, INC., DBA RECOLORADO © Real estate listings held by brokers other than {{{account_mls_firm_nm}}} are marked with the IDX Logo. This information is being provided for the consumer's personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. See Disclaimer
Listing Data last updated: 2nd March, 2021 20:00 MST
Service by Buying Buddy IDX CRM
Equal Housing
Blue Fire Group    Real Estate Websites
© 2021 Copyright
LAC
My Buying Buddy    Powered By MyBuyingBuddy ®