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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.
