KENTWOOD BLOG COPY – MARKET SHARE – JULY 27, 2011
Kentwood Real Estate Captures Major Market Share
of Million Dollar Properties Sold Through June 30th
Kentwood Real Estate, Colorado’s Premier Real Estate Company, sold 87 luxury homes priced at $1 million dollars or more through June 30, 2011. A total of 270 single-family and condominiums sales in this price range were recorded sold in the metro Denver area by all real estate companies through June 30th. This gives Kentwood Real Estate a very significant 33.2 percent share of the market for homes priced at $1 million or more.
“We have always been a leader in the luxury home market while continuing to be a major force in all price ranges throughout metro Denver,” said Peter Niederman, Chief Executive Officer of Kentwood Real Estate. “To achieve this market share during challenging economic times is a major accomplishment, and it’s a testament to the expertise and knowledge or our highly experienced real estate professionals.”
Million-Dollar-Plus properties sold in June achieved a total closed volume of $104.2 million, according to recent market statistics. A total of 70 single-family homes were sold and closed in June at $1 million or more. The lowest sold price was $1 million, while the highest was $6.1 million.
The average sold price in June for luxury single-family homes was $1,501,916 compared to $1,636,291 a year ago. The average sold price for luxury condominiums in June was $1,258,375 compared to $1,050,000 in June 2010.
Total closed dollar volume for metro Denver through June 2011 for single-family homes and condominiums priced at $1 million or more was $407,030,104 compared to $415,222,819 for the same period last year.
* Source: Metrolist, Inc.
# # #