No ocean views, but Denver has extremely high percentage of million-dollar homes

In Market Trendsby Denver Business JournalLeave a Comment

Original Post By: Denver Business Journal

The most expensive home currently for sale in Denver, according to Zillow, is this two-story, 6,295-square-foot condo taking up the 44th and 45th floors of the Four Seasons Private Residences building on 14th Street. It’s listed at $10.75 million

Denver has one of the nation’s highest percentage of million-dollar homes, according to a new report.

Most of the most expensive markets are on one of the nation’s coasts, or in the tech-booming Northern California area, according to the new report by LendingTree Inc. (Nasdaq: TREE).

In Denver, 2.65 percent of all homes are valued at $1 million or more, putting Denver No. 10 on a list of cities with the highest share of homes valued at more than $1 million.

San Jose, California tops the list, with 53.81 percent of homes there worth $1 million or more, followed by San Francisco (40.03 percent), Los Angeles (17.23 percent), New York City (11.81 percent), San Diego (10.55 percent), Seattle (9.90 percent), Boston (7.95 percent), Washington, D.C. (5.27 percent), and Miami (3.79 percent).

To come up with its list, LendingTree said it “looked at home value data in the 50 largest core-based statistical areas (CBSA) in the U.S. (and) … determined the concentration of million-dollar homes by dividing the number of homes in the area valued at $1 million or higher by the total number of homes in the CBSA.”

In May, the Denver Business Journal reported that sales of luxury homes in Denver are booming, with year-to-date luxury home sales tripling since 2014.

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