In May, a record-breaking 179 homes priced over $1 million sold and closed, up over 21 percent from the month prior and up nearly 38 percent year over year.
“By this time next month, sales in the Luxury Market of homes priced over $1 million will likely surpass one billion dollars year to date,” said Elaine Stucy, DMAR Market Trends Committee member and metro Denver real estate agent. “This is a stunning trend in a month where traditionally the greatest number of homes come into the market. However, instead of a build up in supply, there was a full 1 percent reduction in months of inventory to a 5.8 month supply.”
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