Denver Luxury Homes Sales Up 20%

Some more good news today documented in the Denver Business Journal for Denver Luxury Homes. According to a report released today from Kentwood Real Estate, the number of Denver Luxury Homes sold almost 20 percent year to date through August.

This is in line with the numbers we have been posting here for almost a year now. While the luxury home market in the Denver area typically lags behind median priced homes, we have still been seeing a significant increase in the number of luxury homes being sold.

From The Denver Business Journal:

The number of luxury homes sold in the metro Denver market soared almost 20 percent year-to-date through August compared to the same period last year, according to a report released Wednesday by Kentwood Real Estate.

There were 325 transactions, totalling $492.1 million, of homes with price tags of more than $1 million through August – a healthy 19 percent gain over the same eight months 2011, the report states.

There were 45 sales of luxury properties, including single family homes and condos, in August totalling $63.46 million, a slight month-over-month decrease from the 46 sold in July 2012 but a whopping 61 percent increase from the 28 sold in August 2011.

The most expensive property sold was for $7.5 million, the report states.

Average number of days on the market year-to-date dropped 7.7 percent year-over-year, from 222 in 2011 to 205 days this year.

We will continue to post the latest market reports for Denver Luxury Homes sales here, but if you would like a detailed report for a specific area or neighborhood, call our team of experts at 303-726-1874.




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