Luxury home sales volume in the “core” Denver-area counties rose 24 percent in the first seven months of the year, compared with the same period in 2011, Kentwood Real Estate Co. reported today.
Independent Realtor Gary Bauer represented a report on Saturday that showed a similar trend. Bauer’s report included Boulder, while the Kentwood report focused on Adams, Broomfield, Denver, Douglas, Elbert and Jefferson counties.
Buyers paid $422.16 million for 276 homes priced at $1 million or more, compared with 245 similar transactions for $370.5 million in the first seven months of 2011, according to Kentwood.
The average days on the market this year dropped by almost half to 56 days from 111 in 2001, according to Kentwood’s analysis of Metrolist data.
The Kentwood report also showed that 91 of the 635 luxury single-family homes on the market are under contract and 17 of the 50 luxury condos are under contract.
Have a story idea or real estate tip? Contact John Rebchook at JRCHOOK@gmail.com. InsideRealEstateNews.com is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate.
