The Kentwood Real Estate Marketing Department released the September Luxury Real Estate Market statistics earlier this month. Through September 2013, buyers purchased $814,350,579 in single-family Million Dollar properties comprised of 536 transactions compared to $592,403,561 in sales and 383 transactions in 2012. This resulted in an increase of 37.5% in volume and an increase of 39.9% in transactions respectively. Year to date in 2013 the highest sold property was $8,691,000 (April) which is 15.9% more than the 2012 highest priced sale of $7,500,000 (July). The number of days on the market is now 19.0% less at 162 days versus 200 days in 2012.
The total homes sold in September 2013 represented a slight drop in luxury home sales over August 2013, which is attributed to a typical seasonal slow down. Peter Niederman, CEO of Kentwood Real Estate, was quoted in the Denver Business Journal as stating “With the [year-over-year] higher sales volume, but average sales price down, that tells me we're getting a broader mix of luxury homes selling.”