Denver Luxury Homes: Sales Rise in November

Some more great news came out for the Denver housing market last week. The sales of Denver luxury homes increased 37% in November from November of 2011. even more impressive, the total dollar volume increased an amazing 42% from November of last year.

 While we have seen a steady improvement in sales in the Denver market overall, the numbers for Denver luxury homes have been staggering over the last few months.

 From the Denver Business Journal:

While the seasonal slowdown finally hit the Denver area’s residential real estate market for homes with a cost of $1 million or more, resales still showed impressive year-over-year gains during November, according to a report from Gary Bauer based on MLS data.

The report shows 59 luxury homes and condos sold in November, a healthy 37 percent increase from the same month a year earlier but down 16 percent from October’s 69 resales. The dollar value of homes closed stood at $91.2 million in November, a huge 42 percent increase from the $52.7 million worth of luxury homes sold in November 2011.

 One of the other significant data points in the report, shows the overall inventory of Denver luxury homes was down 11% year-over-year.

 These numbers are obviously impressive, especially considering that they include sales of Denver luxury foreclosures as well.

 As with all real estate data, keep in mind that numbers vary from city to city and neighborhood to neighborhood. For a full report of the area you are interested in, give our team a call at 303-726-1874.


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