What percentage of Denver homes are worth over $1 million?

DENVER (KDVR) — Over a tenth of all houses in the Denver metro area are worth $1 million or more, according to new data from online real estate company Redfin .

Specifically, 11.30% of homes in Denver were worth at least seven figures. Nationwide, the percentage of homes worth $1 million or more was 8.5%, or 2.8% less than in the Mile High City.

Denver was not the only city Redfin looked at. The company pulled the numbers for the 50 largest metro areas in the U.S.

According to the report, Denver came in at No. 16 for the highest percentage of homes worth $1 million or more.

California was home to the most cities on the list. Two of its cities, San Francisco and San Jose, had over 80% of homes in the seven-figure range.

Four cities had a percentage of million-dollar homes that were under 1%: Kansas City, Missouri, and Pittsburgh, Pennsylvania, at 0.90%; Cleveland, Ohio, at 0.8%; and Detroit, Michigan, at 0.5%.

How does this compare to home prices overall?

According to the Colorado Association of Realtors, in June 2024, the median sales price for single-family homes was $637,000. If you include townhomes and condos, this lowers to $590,000.

However, the average price was over $100,000 higher at $701,355. This was 2% higher than in June 2023.

Prices have skyrocketed in the last 10 years. According to the association, the median price for a home in the Denver metro area was $284,900 in June 2014. This was 107% lower than the median price in 2024.

The average sale price was $334,486 in June 2014, or around 109% lower than the $701,355 in June 2024.

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