The Denver Business Journal reported recently that homes in metropolitan Denver are selling a month faster than they were a year ago and the total number of homes closed in April 2014 over $1,000,000 increased by 11% year over year. The inventory in the luxury home sale market is mirroring that of the rest of the real estate market - it is low and demand is high.
The May statistics just released by the Kentwood Real Estate marketing department shows that currently there are 726 Million Dollar residential and condo properties in the Denver Metro area for sale and that the May luxury home sales were strong year over year with a 44% increase in sales for luxury residential homes and almost a 67% increase in luxury condominium properties.
Kentwood Real Estate currently has a 16% market share with 118 Million Dollar active listings.
