Like the rest of the market, the luxury real estate market has been recovering nicely. The Denver area is no exception. The state of the market is good news both for those looking to list or buy a home. Although numbers have been rising steadily for over a year now, this area’s market is seeing very significant number increases just from March of this year.

This April, ninety-three luxury homes were sold. Last year, this number was at forty-four. Seventy-one have been sold since this March, meaning the market saw a 31% spike in just a month. In April, Denver saw thirteen homes sell for over the $2 million mark. Denver is seeing more million-dollar homes selling that any other Colorado city, with 24 of these homes sold. Boulder was at second with 19.

Another good figure is that Denver is not only seeing more homes selling but they are selling faster. Homes sold in April were on the market for an average of 120.7 days, decreasing by more than ten days from March. Many sellers of desirable homes have reported homes selling in a matter of days. In April 2012, this number was at 172.6. And, sellers have another reason to be excited—reports state that sellers are getting around 95.7% of what they listed the house for, a number that was at 92.6% in April 2012.

While these numbers will be making listers happy, you may be wondering why this is good news for buyers. Well, a healthy market on one end usually means a healthy market at the other end. Houses are spending much less time on the market because of how desirable of a market there is to buy from right now. Interest rates are low and values are increasing. And, steadily rising numbers mean that the market is steadying, giving buyers confidence that these trends will continue.

While Denver has a home to offer any budget, from cute bungalows to sprawling Victorians, the luxury market has been very active lately overall. The Cherry Creek neighborhood, known for its upscale offerings, will be seeing development of a luxury Hyatt hotel soon. The Highlands/Jefferson Park area will soon see a 332 unit luxury apartment addition.

It’s no mystery why a luxury market thrives in a place like Denver, with a beautiful environment and lively amenities to match. If you are looking at Denver Colorado homes for sale, take a look at what a PorchLight agent can do for you.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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