-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RKRnOa2uQMzFAFbSACGQh1pdTUnx3QfXBiBaMQhYY9qQVCgfrkGBWCBBn/01SbJ1
 IvM839EcQiotMeWyqi/Hqg==

<SEC-DOCUMENT>0001005477-03-002394.txt : 20030729
<SEC-HEADER>0001005477-03-002394.hdr.sgml : 20030729
<ACCEPTANCE-DATETIME>20030729161855
ACCESSION NUMBER:		0001005477-03-002394
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030729
FILED AS OF DATE:		20030729

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MDC HOLDINGS INC
		CENTRAL INDEX KEY:			0000773141
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				840622967
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3600 S YOSEMITE ST STE 900
		CITY:			DENVER
		STATE:			CO
		ZIP:			80237
		BUSINESS PHONE:		3037731100

	MAIL ADDRESS:	
		STREET 1:		3600 S YOSEMITE ST
		STREET 2:		SUITE 900
		CITY:			DENVER
		STATE:			CO
		ZIP:			80237

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TOUFF MICHAEL
		CENTRAL INDEX KEY:			0001193956

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08951
		FILM NUMBER:		03808911

	BUSINESS ADDRESS:	
		STREET 1:		3600 S YOSEMITE ST STE 900
		CITY:			DENVER
		STATE:			CO
		ZIP:			80237
		BUSINESS PHONE:		3037731100

	MAIL ADDRESS:	
		STREET 1:		3600 S YOSEMITE ST STE 900
		CITY:			DENVER
		STATE:			CO
		ZIP:			80237
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-07-29</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000773141</issuerCik>
        <issuerName>MDC HOLDINGS INC</issuerName>
        <issuerTradingSymbol>MDC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0001193956</rptOwnerCik>
            <rptOwnerName>TOUFF MICHAEL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3600 S. YOSEMITE ST., STE. 900</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80237</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>0</isDirector>
        <isOfficer>1</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
        <officerTitle>Senior Vice President</officerTitle>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common Stock $.01 Par Value</value>
        </securityTitle>

        <transactionDate>
            <value>2003-07-29</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>S</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>13667</value>
                <footnoteId id="F1"/>
            </transactionShares>

            <transactionPricePerShare>
                <value>50.92</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>41611</value>
                <footnoteId id="F2"/>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

    </nonDerivativeTable>
    <footnotes>
        <footnote id="F1">All share amounts have been adjusted to reflect the distribution of a 10% stock dividend on May 27, 2003.</footnote>
        <footnote id="F2">Also, approximately 11,287 shares held indirectly in Reporting Person's 401k Savings Plan account, which changes on a monthly basis, and 6,655 shares held indirectly in Reporting Person's IRA Rollover account.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael Touff</signatureName>
        <signatureDate>2003-07-29</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----