Denver Luxury Real Estate Market Report – January 2026

$1M+ Market Trends Across Cherry Hills Village, Greenwood Village, Cherry Creek, Hilltop, Wash Park & Metro Denver

January 2026 signals a meaningful recalibration in Denver’s luxury real estate market. After three flat years following the pandemic surge, both buyers and sellers have spent the past 36 months waiting for direction.

While the broader Denver market remains balanced, the $1M+ segment experienced:

• A dramatic influx of inventory

• A rebound in pending contracts for detached homes

• Continued softness in the attached luxury condo market

This report covers:

• Detached vs attached performance

• $1M–$1.5M vs $2M+ market segmentation

• Negotiation trends and months of inventory

• Price per square foot movement

• Neighborhood-level insights

• Strategic guidance for buyers and sellers

All data reflects residential properties priced at $1,000,000 and above across the Denver Metro area.

Executive Overview – January 2026 Luxury Market

Residential $1M+ (Detached + Attached Combined)

• New Listings: 635 (↑ 252.78% MoM | ↑ 11.99% YoY)

• Pending Sales: 337 (↑ 51.80% MoM | ↓ 8.71% YoY)

• Closed Sales: 238 (↓ 30.81% MoM | ↓ 11.52% YoY)

• Sales Volume: $381,036,344 (↓ 33.94% MoM)

• Average Days in MLS: 96

• Median Days in MLS: 71

• Close-to-List Ratio: 96.22%

• Average Price Per Square Foot: $372 (↓ 3.63% MoM)

Key takeaways:

1. Sellers returned aggressively in January

2. Buyers are active but selective

3. Negotiation leverage has shifted from 2021 highs

Detached Luxury Market – Core of $1M+ Denver Homes

Detached homes continue to drive the luxury segment.

January Detached $1M+ Performance:

• New Listings: 594 (↑ 255.69% MoM)

• Pending Sales: 325 (↑ 57.77% MoM)

• Closed Sales: 226

• Average Days in MLS: 93

• Median Days in MLS: 70

• Close-to-List Ratio: 96.22%

• Average Price Per Square Foot: $362

Buyers are deliberate, taking time to inspect, compare, and negotiate. This is an analytical market, not an emotional one.

Luxury Inventory & Market Balance by Price Tier

Luxury is multiple markets stacked on top of each other.

$1M–$1.49M Detached:

• Months of Inventory: 3.99

• Balanced conditions; turnkey homes in Cherry Creek, Wash Park East, Observatory Park, and Hilltop still move

$1.5M–$1.99M Detached:

• Months of Inventory: 7.8

• Leans toward buyer territory; sellers must present turnkey product

$2M+ Detached:

• Inventory elevated; buyer pool narrows

• Cash transactions increase

• Negotiation depth expands

• Requires precision pricing, elevated staging, and targeted marketing

Attached Luxury – Condos & Townhomes

Attached properties are slower-moving.

January Attached $1M+ Performance:

• New Listings: 41 (↑ 215.38% MoM)

• Pending Sales: 12 (↓ 25% MoM)

• Closed Sales: 12

• Average Days in MLS: 104

• Median Days in MLS: 100

• Close-to-List Ratio: 95.95%

• Price Per Square Foot: $561

Inventory conditions:

• $1M–$1.99M Attached: 7.7 Months

• $2M+ Attached: 26 Months → firmly a buyer’s market

Pricing discipline is critical in Cherry Creek North and Downtown Denver luxury condo buildings.

Price Per Square Foot Trends

• Overall: $372

• Detached: $362

• Attached: $561

The 3.63% MoM decline reflects normalization, not collapse.
The market is cooling from 2022 peaks but remains elevated relative to pre-pandemic levels.

Negotiation Environment

• Close-to-list ratio: 96.22%

• Sellers concede ~3–4% on average

• Inspection negotiations are common

• Seller concessions are reappearing

• Buyers are conducting full diligence

A healthy, normalized environment that rewards preparation and strategy.

Neighborhood-Level Luxury Insights

Cherry Hills Village: $2M+ homes deliberate; well-located estates with updates remain attractive.

Greenwood Village: Elevated inventory; move-in-ready properties under $2M strongest.

Cherry Creek North: Luxury condos slower; detached homes competitive, especially contemporary designs.

Hilltop & Observatory Park: Modern new construction commands attention; finish quality expected.

Wash Park East: Resilient luxury pocket; updated historic homes in demand.

Castle Pines & Highlands Ranch: Suburban luxury influenced by new construction; resale sellers must account for builder incentives.

Buyer & Seller Psychology in 2026

Buyers: Financially strong, rate-aware, condition-sensitive, time-flexible. They evaluate carefully.

Sellers: Must adapt to longer marketing timelines, greater negotiation, and market-based pricing. Preparation and strategic marketing win.

Off-Market & Ultra-High-End Sales

• Highest detached sale: $9.3M (Englewood, off-MLS)

• Highest attached sale: $8.25M (1500 Wynkoop, Denver)

At the ultra-luxury level, relationships and brokerage positioning are critical.

Forward Outlook – Spring 2026

• New listing surge suggests seller confidence

• Watch February/March pendings:

  • $1M–$1.5M likely stabilizes

  • $1.5M–$2M may normalize toward balance

  • $2M+ remains selective

The luxury market is recalibrating toward fundamentals, not collapsing.

FAQ – Denver Luxury Market January 2026

Is the luxury market slowing?

• Stabilizing with increased negotiation and longer days on market

Are $2M+ homes still selling?

• Yes, selectively and often below original list price

Are luxury condos struggling?

• Above $2M, buyer leverage is strong

Is Cherry Hills Village still strong?

• Yes, pricing precision is critical above $3M

Final Thoughts

January 2026 confirms a disciplined luxury market.

• Buyers have options

• Sellers must be strategic

• Condition and pricing determine outcomes

Speculative appreciation is behind us. Informed, analytical decisions define success in 2026.

For a hyper-local analysis of Cherry Hills Village, Greenwood Village, Cherry Creek, Hilltop, Wash Park, Observatory Park, Castle Pines, or Highlands Ranch luxury inventory, The Denver Group provides property-level strategy tailored to your goals.

Luxury expertise. Analytical depth. Strategic execution.

For more info on Denver's housing market, check out our January 2026 Denver Real Estate Market Report.

Explore Denver Neighborhoods
Discover what makes each neighborhood unique and find the right fit for your lifestyle:

• Explore all Denver neighborhoods

• View the full Denver Neighborhood Guide

Stay Connected
Follow us on social media for the latest Denver events, news, and real estate insights:

• Facebook: @thedenvergroup

• Instagram: @thedenvergroup & @thedenverdeal

• TikTok: @thedenvergroup

• YouTube: @thedenvergroup