Metrolist released some very positive numbers for the Denver Luxury Homes market today. Again, the numbers show a big improvement over 2011 sales for this market (homes over$1 million or more). We are currently out performing last year by 12.7 %.
The figures for Denver luxury homes include all sales above $1 million. This includes standard sales as well as Denver Luxury foreclosures and short sales.
This article in the Denver Business Journal is worth a read. Some of the highlights:
There were 46 homes and condos with a price tag of $1 million or more sold in the seven-county Denver metro area in July, down one from the 47 sold in July 2011. But year-to-date, there were 276 sales, up from the 245 sold through July in 2011 – a 12.7 percent increase.
The most startling statistic from the report was the plunge in average days on the market, which went from 111 days in July 2011 to 56 days in July — an almost 50 percent drop.
This second point is simply incredible and mirrors what we have been saying for the entire Denver homes market. Inventory has plunged! We are seeing buyers in all price ranges struggling to find homes that meet their needs, and when they do, the best homes are igniting bidding wars between several buyers.
If you are in the market for Denver luxury homes, make sure you talk with one of our experts and have us set you up on a daily alerts so you don’t miss the best homes the day they hit the market. you can reach us at 303-726-1874.