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The Luxury Market Shows Life
After many years of being virtually dormant, the luxury market is showing some vigor. This is welcome news for many high-end sellers who have been waiting years for a rebound in demand for their property.
Sales of $1,000,000-plus properties across Northern Colorado are up 32% over last year. The Fort Collins area specifically is seeing robust sales in the high end with sales up 77% over last year. Yes, we’ve come a long way from 2010 when there was many, many years-worth of luxury inventory on the market.
To keep things in perspective, the bulk of buyers in our market today are a long ways from buying a $1,000,000. Close to 90% of all sales in Northern Colorado are under $500,000. Yet, the fact that luxury sellers are having increased success is a good sign for our market. For example, all of the $700,000-plus homes that our company has listed this year have gone under contract within 30 days (some much quicker than that).
So, a Champagne toast to the return of the luxury market!
Windermere Real Estate is your Luxury Home Source. We recently completed an extensive report on the Northern Colorado luxury market called “The Northern Colorado Luxury Home Report.” To receive your free copy call 970-460-3033 or email fortcollins@windermere.com
