Denver’s share of homes that sold for $1 million or more increased from 3.3 percent of the market in 2014 to 9.4 percent this year, the largest jump in the nation.
Realtor.com found the markets where million-dollar listings have risen the fastest over the last three years. Along with Denver, markets such as Santa Rosa, Calif., Boulder, Colo., Boston, and Seattle made the list.
Million-dollar homes aren’t necessarily the luxurious mansions they once were. In many places, low inventory and high buyer demand have pushed up prices exponentially, so expensive markets such as San Francisco may have one-bathroom condos selling for seven figures.
Homes in Truckee, Calif., are nice, though. The city is a vacation spot for Northern Californians who want to visit Lake Tahoe, which is just to the south.
Martis Camp, a luxury community that boasts tournament-standard golf courses and a private high-speed lift to the Northstar ski resort, leads in luxe home values with a median list price of $3.5 million. Even the cheapest home there lists for $1.8 million. Similar communities, where homes feature modern design and acre lots, have also seen explosive growth in the million-plus-dollar segment.