Denver property manager reveal that for the month of June, the sales of luxury homes in the Denver area was astounding. Reports from Denver Metro Association of Realtors, Kentwood Real Estate and Coldwell Residential Brokerage reveal that the sales of luxury homes with a market value of at least $1 million definitely soared last month.
For the month of June, the luxury home market was hot, whereas the overall market cooled. A report from the Colorado Association of Realtors show that the frenzy has cooled, all sales have decreased by 11.1% last month.
The total number of luxury homes sold last monthwas 223; 24.6% higher compared to the 179 homes sold in June 2015 according to Coldwell Banker. The total luxury home sales volume for June 2016 is $195,765 million, 14.8% higher compared to the $170.5 million in June 2015.
Coldwell Banker analyzed data obtained from REcolordo and results show that the luxury sales have indeed sizzled last June, there were 223 luxury sales, a 24.6% increase compared to June 2015 and 32.7% higher compared to the 168 luxury home sales for May 2016. Coldwell Banker emphasized that the sales increase is also caused by the expected seasonal moves in the real estate market.