In the Denver, Colorado Metro Area, according to my research from the Denver MetroList Multiple Listing Service over the last 3o days, 28 transactions over $1,000,000 have closed. The average original list price of these transactions was $1,840,000. The average sold price was $$1,381,000. This is a price an average price reduction from original list price of almost 21%. As a result, Denver Real Estate over $1M is HOT, or is it just on sale?
The complete data set may be analyzed here: Million and Up Sales 12-2010
With a range of price reductions from as high as 46% off the original list price, it is no wonder a new market has emerged in this price arena. The water is warm and the sharks are curious. Who’s bleeding today?