Property management companies in Denver reported that over a thousand luxury homes were sold in the Denver area last 2015. A total of 1,001 single family homes and condos were sold worth, each unit was worth at least $1 million. Out of the 1,001, 928 were single family homes.
The total sales for luxury single family homes for 2015 is $1.4 billion dollars. Sales has increased by 21% compared to 2014. Luxury home sales amounted to only $1.15 billion dollars for 2014.
Meanwhile, the sales for luxury condo has experienced a 135% year over year increase in 2015. A total of 73 luxury condos in Denver were sold. That is 42 units more compared to 2014, there were only 31 condos sold back then.
The total number of condos sold in downtown Denver is 423 condos. The exact same number of units sold in 2014. The number of condos sold is the same but the total sales for 2015 amounted to $ 227.59 million whereas 2014’s sales was only $206.05 million.
Realtors are confident that the real estate market will grow stronger throughout the year. The ongoing build out of the union station and the nearly completed light rail from union station to DIA will greatly contribute to a stronger market in downtown Denver.