From John Rebchook’s Inside Real Estate News:
Buyers in the Denver area snapped twice as many “Signature Properties” in August than they did in August 2011, according to a report released today by independent Realtor Gary Bauer.
Buyers bought 88 homes in the metro area, priced from $750,000 to $999,900, compared with 44 in that price range in August 2011, booking the largest percentage increase since Bauer launched the analysis of upper-end homes priced just below $1 million last November.
This is important because it shows that the robust market activity, which started in the lower and entry-level pricing tiers, then moved up to the mid-tier, is not positively impacting the upper tier.
All of this movement and transaction activity means more economic activity in Denver, which will help to sustain the local recovery.