Some mixed news came out today regarding Denver Luxury Homes. According to a report in the Denver Business Journal, only 53 homes priced over $1 million sold in August, compared with August 2010. However, during that same period, the median sales price of $1 million + homes is up by 5.4 percent.
Over the past several month, we’ve seen Denver Luxury homes trending up, both in volume and price, so it will be interesting to see if this is a minor blip or the start of a correction in the Luxury market. While the greater Denver market as a whole is trending upwards, we’ll keep our eye on the luxury market and report back with news as it comes out.
From the Denver Business Journal:
Although the number of homes that sold for more than $1 million in August is down to 53 from 71 a year ago, the median sales price is up by 5.4 percent. The sales price rose to $1.31 million.
Both sales indicators are off from July, when 69 homes sold for a median of $1.39 million.
While a low of attention has been paid to Luxury Denver homes for sale, few articles are mentioning Denver Luxury foreclosures. We’ve been finding some incredible deals for our clients. If you’d like more information or have additional questions, give our team a call at 303-817-0209.