Some more great news for Denver Luxury homes was released by Metrolist today. Luxury homes in the metro area (homes priced over $1 million) increased over 60 percent from February and nearly 50% from March of 2011.
This steep rise corresponds to what we’ve been seeing in all price ranges across the Denver area. While the number of sales hasn’t risen quite as dramatically in the non-luxury market, sales have been trending up for many months now.
The number of luxury homes sold in the metro Denver market in March increased dramatically from both the prior month and March 2011, according to a report released Monday.
Forty-nine homes with a price tag of more than $1 million sold in March, up 63 percent from February and 48 percent year-over-year, according to the report analyzing Metrolist Inc. data by Gary Bauer, an independent Littleton broker, Metrolist analyst and board member.
With banks releasing fewer and fewer Denver luxury foreclosures to the market, we expect to see prices trend upwards as well. There has been a trend of “wait and see” going on in the market, and it seems like this trend is ending.
If you would like to talk to our team about Denver Luxury homes or any of the factors that are contributing to the upswing in sales over the past 9 months, give us a call at 303-726-1874.
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