Tuesday, July 13, 2010

Million-dollar homes show life; most sales still below $300,000

The market for million-dollar plus homes in the Denver area perked up in June, with closings rising 19% and price discounts falling. However, during the first half of the year, the “sweet spot’ for home sales remains homes priced from $100,000 to $300,000, which accounted for 61% of all sale in the eight-county area. “In 2008 to 2009, we were in markets that reflected the large number of foreclosures on the market,” Bauer said. “After people started gobbling up the homes in the lower-price ranges as fast as they could, we started getting a better handle on the foreclosure situation. Now, we are seeing more activity in the $200,000 and $300,000 ranges.”