Luxury Real Estate Market In Denver Is On The Rise

The luxury real estate market in metro Denver is on the rise and continues to gain strength with 2012 luxury home sales already exceeding that of 2011. The national trend for home sales has improved throughout this year and this trend has been echoed by high end Denver homes. As the Colorado real estate market improves as a whole, it is normal for luxury homes to lag behind this trend. However, the high end home sales are certainly showing a comeback as well. As Colorado home owners become more confident in the market they are listing their current homes at an increased rate to upgrade to more valuable properties.

Real estate sales of $1 million-plus homes in Denver reached 540 last year according to Metrolist, Denver’s largest MLS. As of October first Denver luxury home sales have totaled 542 with one quarter of the calendar year remaining. Luxury home sales for properties between $750,000 and $1 million in August were up 19 percent compared to August of the previous year. High end homes over the $1 million mark have improved even more, with a 25 percent increase for the comparable period.

Denver luxury home sales have improved for various reasons; strong performance in the equities market and stock market recovery are positive factors for buyers in the Denver luxury home market. The availability of jumbo mortgage loans and plummeting interest rates has also  come to the advantage of Denver luxury home buyers. The average U.S. rate on a 30 year fixed rate mortgage is around 3.4 percent.

Declining interest rates and increased home buyer confidence has resulted in a diminished inventory of Denver luxury homes. Denver luxury home supply has decreased by about 45 percent compared to 2011. As a result, high end Denver homes in neighborhoods such as Hilltop, Cherry Creek, Evergreen, Belcaro, Cherry Hills Village and Park Hill are selling for higher prices and remaining on the market for a shorter period of time. Denver luxury home buyers are frequently submitting full price offers, a trend that has remained virtually unheard of for the last several years.

Click here to view Luxury Listing for sale in Denver:

Home for Sale in denver, Colorado

2324 W 33rd Ave

Denver

Sale

$ 1,049,000

5 Baths

4 Beds

2676 SqFt

N/A Garages

456 S Olive Way

Denver

Sale

$ 630,000

3 Baths

4 Beds

3156 SqFt

N/A Garages

10240 E 57th Ave

Denver

Sale

$ 642,545

3 Baths

4 Beds

2818 SqFt

N/A Garages

1455 Josephine St

Denver

Sale

$ 1,050,000

4 Baths

4 Beds

4278 SqFt

N/A Garages

4307 Stuart St

Denver

Sale

$ 874,900

5 Baths

4 Beds

3368 SqFt

N/A Garages

3433 Beeler St

Denver

Sale

$ 830,000

4 Baths

4 Beds

3593 SqFt

N/A Garages

2853 S Quitman St

Denver

Sale

$ 400,000

2 Baths

4 Beds

1954 SqFt

N/A Garages