Denver continues to move on up! July saw an increase in Denver-area luxury home sales over the same period last year, and that year-over-year increase only looks like it will continue as the year progresses.
69 homes valued at more than $1 million closed during July 2011, up 38 percent from July 2010. However, the number did fall slightly from June’s 71 luxury home sales. The median price of these home sales was $1.39 million, up from $1.22 million during the same period last year. July’s median home sale price was also up seven percent from June.
What does that tell us about the Denver real estate market? It seems that we are currently experiencing the reemergence of the luxury market, and we can only hope that strong numbers throughout the rest of the local market will continue to increase as well. With the increase in luxury home sales, we should also expect to see the local economy hold strong since luxury homeowners will have more money to spend around the house.
To see what luxury homes are currently on the Denver market, you can search all current listings through the Coldwell Banker property search. For more information about Denver luxury homes, give me a call at 888-860-1931.
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