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KENTWOOD BLOG COPY – MARKET SHARE – JULY 27, 2011

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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.

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