Denver metro’s luxury real estate market saw exponential growth in the past decade, with 876 properties sold for over $2 million in 2022 — an increase of nearly 700 percent since 2013.
The record-setting home: A modern farmhouse with a self-sufficient ADU over the garage that includes a kitchen, living room, dining area, bedroom, bath and laundry.
In that same period, the average price for all homes in the metro increased by 121 percent from $306,00 to $678,000. The percentage change in the price per square foot was almost the same.During the pandemic, skyrocketing prices caused homes under $400,000 to plummet while the number of homes sold for more than $2 million steadily increased.
More than half of all luxury purchases in 2022 occurred from March through July, according to MLS data from REColorado for Denver, Boulder, Jefferson, Adams, Arapahoe and Douglas counties.
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