Arvada Colorado Luxury Home Market Report

I’ve been telling you for awhile now that the real estate market has picked up in the area between Denver and Boulder Colorado, especially in the under $200,000 range. Unfortunately, it’s a different story for the luxury market. Someone told me that the over-$500,000 home market is dead. So I thought I’d see if that’s true for Arvada. Home sellers in this price point - take note.

Homes sold at $500,000 and up -
2006: 104 2007: 90 2008: 50

Homes between $400,000 and $500,000 -
2006: 137 2007: 133 2008: 111

For a year-over-year comparison:
Homes at $500,000 and above sold by March 21
2006: 11 2007: 11 2008: 9 2009: 5
Homes between $400,000 and $500,000 sold by March 21
2006: 25 2007: 13 2008: 19 2009: 8

So it's true the over $500,000 market has slipped, and is still sluggish so far this year, although I wouldn't call it 'dead'. And now it appears the $400 – 500,000 market is struggling too.

By the way, some people say the reason fewer are selling is because people in this bracket are waiting for real estate to start appreciating again, and they’re not putting their homes on the market. But right now, Arvada has 57 homes in the $400-500,000 range and 92 above $500,000 actively for sale.
Obviously, if you’re selling a home in this price range, you’ll want to assess your motivation for selling and price accordingly. And of course, be sure to hire an agent who’ll market the ‘heck’ out of it!

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