This is a very interesting graph. This is Evergreen, Conifer and Morrison luxury homes (over $1,000,000) sold in the last 10 years. The average luxury home sale price is in green and the number of listings is in blue.
The reason this chart is interesting is because while the rest of the luxury market around the country has been seeing a dip, the Denver Foothills has seen an increase in average sale price in luxury homes. Not a huge increase but enough to see that this area is attracting money and people with it.
The number of listing is increasing along with the sale price. This is a good sign. Usually as inventory increases the sale price will decrease.
The luxury market is usually independent of the primary real estate market. Although it does have its ups and downs it is usually not as drastic as the primary market and doesn’t really rely strictly on the economy or interest rates. The reason is if a buyer can afford a $5 million home in an up economy they can still afford one if the economy takes a dip. Another reason is the luxury market isn’t flooded with investors in a downturn with people buying low. Luxury homes are not usually for investment purposes since they tend to increase in value they don’t appreciate at the rate the normal market does. The peaks and valleys are not as drastic.
The luxury market in the Denver Foothills will always be solid. It is close to DIA, the ski resorts and Denver. That makes for a great location for luxury home buyers. Evergreen will especially always attract the high end home buyer with all it has to offer.
Contact Orson Hill Realty today to list your luxury home or purchase your next mountain home.
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Real Estate Agents at Orson Hill Realty for Buying and Selling Your Home
Our real estate Agents and Brokers are all Realtors so you have a higher level of ethics and experience. Our staff is also Very Active in the Community – All Orson Hill Realty agents and brokers are local and love their community. We strive to keep our hands on the pulse of the community by being involved in every aspect of the area. We volunteer, have open houses, work at our schools and local sporting events. Don’t forget to visit or get listed on our local business directory! Have a piece of mind when you hire Orson Hill Realty Realtors. Know we will handle everything in your real estate transaction professionally and ethically. The broker/owner of Orson Hill Realty is also a Realtor in Southwest Florida. We would like the opportunity to win your business. Buyers and Listing Agents…
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Real estate agents understand the importance of an online presence and the best technology for our buyers as well as our sellers. For buyers our technology is important because in this fast paced real estate market you need to be notified immediately when a home becomes available on the MLS (Our multiple listing service) You can also do a very detailed home search through our portal that is updated multiple times a day to have the newest and freshest information on homes being listed, sold and going under contract. We also push all of our listings out to a huge amount of online sources, so that you can find your new home with ease!
