Denver Luxury Market Remains Strong – May 2018
Luxury Market is the Winner in Denver
Denver Metro Association of Realtors Market update-
We all know the general Denver Metro Market has been outstanding over the last 3-5 years. However, our focus has been on the 200-400K range where we saw numerous multiple offer situations, low inventory, and prices rising. Well, our prize market for the time being has made a shift to our Luxury homes.
“Ding, ding, ding! The winner is the Luxury Market,” stated Jill Schafer, DMAR Market Trends Committee member and metro Denver REALTOR®. “There was a nearly 15 percent increase in luxury home sales from March to April alone.”
In the single-family home segment, there are more listings now available between $500,000 to $750,000 than all of the price ranges below $500,000 combined.
Year to date, a record number of 586 homes priced over $1 million have sold- up 36.28 percent over last year… For comparison, at this point in 2014, only 200 homes priced over $1 million had sold.
Fun Fact: The highest priced single-family home that sold in April was $8,000,000
Read full report of May 2018
https://www.dmarealtors.com/sites/default/files/content/dmar_markettrendsreport_may2018.
With this much activity in the higher price brackets, it gives great information to the consumer. If you’ve been thinking about selling, now is a great time. If you’ve been thinking about purchasing a larger home, there are more options to choose from.
If you’d like a free market analysis on your home, give one of our Denver market experts a call today – 303.810.5757
