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Bryon Self - Denver Rent to Own

Your Denver Area Rent to Own Specialist

By Bryon Self | Agent in Castle Rock, CO

Metro Denver luxury homes selling briskly

The sale of high-priced homes in metro Denver surged 33 percent in a year, according to the most recent report by Coldwell Banker Residential Brokerage, released Tuesday.

There were 101 homes costing more than $1 million each that changed hands in May, according to the report. That's up from 93 sold in April.

“Denver Metro Area’s luxury housing market continues to gain momentum as the year moves along,” said Chris Mygatt, president. “Well-qualified buyers remain determined to purchase while prices are still attractive and mortgage rates still quite low.”

Coldwell’s report is based on multiple listing service data from Metrolist Inc.

The price of those homes continued to climb, as reflected in every other local or national survey of metro Denver home sales recently. The median sales price rose 2.4 percent from April to $1.3 million, which is also a 2.2 percent climb from May 2012’s median price of $1.272 million.

Mygatt said that although interest rates have ticked up in recent weeks following the Federal Reserve’s announcement of plans to taper its bond-buying program, rates remain near 50-year lows.

“I think savvy homebuyers understand that the time to get into a home is now before rates go up any higher,” he said. Source Denver Buisness Journal

For more information on buying Denver homes, selling Denver homes, or rent to own Denver homes, please visit the websites at www.MyDenverHomeAgent.com or www.RentToOwnDenverHomes.com. 

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