Denver’s Luxury Home Prices Stay Strong in May 2023
Denver’s real estate market has been experiencing relatively strong prices year-over-year, with Luxury Homes leading the way.
According to LIV Sothebys International Realty, real estate throughout the Denver Metro market has slowed since 2022’s record-breaking months, but the overall average list price has stayed strong from May 2022 to May 2023.
While the average sold price and average list price did increase slightly year-over-year, the total sales volume, listings sold, and the number of new listings on the market decreased, according to Sotheby’s statistics.
In the same report homes over $1 million saw an increase in price per square foot of 6% year-over-year. In addition, the average list price increased by 8.3%, and the average sold price stayed the same, at $1,612,410.
Though Denver’s real estate market has slowed, continued demand contributes to a strong real estate market for both buyers and sellers.