CLOSED SALES

Luxury is Stronger

by Rondi duPont

The market above $1,000,000 is stronger than the market overall.This is true in both Northern Colorado and Metro Denver.The luxury market is not slowing to the same degree as the overall market.In Northern Colorado:

Closed transactions are down 41% in the overall market and 26% in the luxury market over $1,000,000
Pending transactions are down 44% overall and only 13% in the luxury market

In Metro Denver:

Closed transactions are down 40% overall and only 13% over $1,000,000
Pending transactions are down 41% overall and only 17% in the luxury market

This is likely because higher-end buyers are not as sensitive to higher interest rates and there tend to be more cash transactions in the luxury market.

Pendings are Popping

by Rondi duPont

Temperatures may be cooling off but the Front Range real estate market is not.

Typically the market starts to slow down a bit in the Fall after a hot Spring and Summer.

Not this year.

The indicator we use to measure future closed sales is current pending sales.

Simply, we look at the number of properties under contract and scheduled to close versus the same time last year.

Current pending sales are way up along the Front Range when measured against 2019:

Metro Denver up 34.1%

Larimer County up 48.6%

Weld County up 50.2%

Based on these numbers, closed sales numbers over the next 60 days will be very strong.

At Windermere Real Estate we are taking Safer at Home and Social Distancing very seriously. Our people are following our Safe Showings protocol, staying connected to their clients, and providing help wherever needed.