Wednesday, October 26, 2011
by John Basila
While you may have heard or read that the Denver Real Estate Market is not much to get excited about, there are some niches that are performing well.
The Littleton Luxury Home Market Is Improving !
Through September 30th, sales of Littleton Luxury Homes (valued at $1 Million+) have outperformed the last two years of sales - combined! So far in 2011, the sales volume has topped $46 Million -- the equivalent of the total sales volume from 2009 and 2010.
The number of Littleton Luxury Homes sold through September 30th is also at a high with respect to the past few years. So far in 2011, 28 Littleton Luxury Homes have been sold, which is higher than the number sold in 2008, 2009 or 2010. And we still have another Quarter to go!!
A good reason for the improvement in the Littleton Luxury Home Market is that it is truly a Buyer's Market. With 40 Active Littleton Luxury Homes on the market to choose from, and an average of three being sold each month, our Absorption Rate shows us that we have up to 13 Months of Inventory. This has led to a softening of prices, allowing move-up Buyers to get a great deal on their Dream Home. So far this year, the average Littleton Luxury Homes Buyer has been able to save an extra 6-1/2 % when compared to the averages over the past three years.
The Littleton Luxury Home Market Is Improving, thanks to the depth of inventory and the cost savings available in this Buyer's Market. Another incentive is the extremely low rate for Jumbo Loans -- as low as 4.625% last week!
If you or someone you know is interested in finding their Dream Home at a Dream Price, contact Littleton Realtor John Basila today: (303)589-9034