Denver and Littleton High End Home Sales Show Some Life
High end homes in the Denver/Littleton area are starting to rebound from their record lows. It’s no secret that the high end home market has been close to dormant over the last couple of years, with the uncertainty in the market coupled with the difficulty in obtaining jumbo loan financing. The good news is that we are starting to see in increase in this market for homes priced over a million dollars. In fact, sales in this price range have risen to a level not seen in two years. Several factors have contributed to this, the most important being the steep discounting some sellers have been forced to do, in order to get their homes sold. Coupled with a slowly building demand, record low rates, and the beginning of some sanity in the mortgage industry, buyers are starting to become more active in this price range.
This increase in the high end market may pull up the average sales prices in the Denver/Littleton market. If this happens, hopefully buyers won’t be lead to believe all home prices have increased by the announce price increase, if there is one. As I always stress, these figures are the average prices of all the homes sold, not the percentage increase in prices.






