At the risk of sounding repetitive, the market for Denver Luxury Homes is HOT! We’ve been posting each positive report on the high end segment of the market for the past year and it seems that each month is better than the next.
This July, year-over-year sales of the luxury home market in Denver (homes priced over $1 million) jumped an astonishing 63.5%! Here are the raw numbers: 85 total homes above $1 million sold in July 2013 compared to 52 homes in July 2012. In addition, the sales prices seem to be holding steady with a modest drop of 1.1% year over year.
More details in the Denver Business Journal:
Like the rest of metro Denver’s home sector, the luxury market of homes priced above $1 million continues to soar, with a 63.5 percent year-over-year spike in sales in July, according to Kentwood Real Estate.
There were 85 homes with a cost of more than $1 million sold last month, up from 52 in July 2012. Those homes had a sales volume of $134.46 million, up 61.6 percent from July 2012.
Year to date, there have been 417 luxury homes sold, a 43 percent increase from 2012. The 2013 transactions were worth $634.262 million, up 42.5 percent in the year-ago period. The year-to-date days on market average stood at 180 days, 14 percent less than the 209-days average one year ago.
The market for Denver homes in general has been red hot, but less attention has been paid to this luxury market in the news. The fact that these high end homes are selling so strongly is a testament to the overall strong Denver market.
As we are fond of saying, each neighborhood is different, so if yu would like a detailed report for your area, call one of our experts at 303-726-1874.