Carol Ihli, Marketing Director at Kentwood Real Estate, reported today that year-to-date shows gains in closed sales and closed volume in the Denver metropolitan real estate market for transaction $1,000,000 and higher in volume.
Through November 2012 year to date, buyers purchased $709,950,645 in single-family Million Dollar properties comprised of 460 transactions compared to $524,359,822 in sales and 351 transactions in 2011. This resulted in an increase of 31.1% in transactions and an increase of 35.4% in volume respectively.
Year to date the highest sold property for 2012 is $7,500,000 (July) which is an 8.5% decrease from the 2011 highest priced sale of $8,200,000 (July). The number of days on the market is now 16.7% less at 160 days versus 222 days in 2011.
Properties currently available for purchase are also showing there is more inventory in the higher end price ranges. All in all, year-to-date and year over year statistics show that the market is improving.