According to the latest Coldwell Banker Residential Brokerage report, sales volumes of luxury homes in Denver continued to decline in July, along with a drop in median sales prices – but there is a glimmer of good news in that luxury properties sold faster, spending an average of 83 days for sale. Whether this last statistic is skewed by re-listings is difficult to assess. This is the CBRB press release.
Filed under Press Releases by 
Exclusively Auctions, a leading absolute auction company with both bargain and luxury real estate home auctions, is not surprised by the recent reports of no-minimum auctions hitting $268B and MLS sales on a sharp decline.In Vail, Colorado, this year’s June MLS sales are down to about 27% compared to the total number of transactions completed last year at this time. This decline is in stark contrast to real estate auction successes.
Filed under Press Releases by
Luxury homes around the world are now seeing substantial price reductions in an effort to perk up the sector. I have long been of the opinion that realistic selling prices will provide stimulus and get the inventory moving once again. Most buyers in the $30 million range are not reliant on financing from outside sources and are more able to finance the purchase themselves.
Filed under Luxury Real Estate Marketing by
Luxury home builders, Toll Brothers reported the first increase in contracts signed since Q4 05, although the rest of the results are still reasonably dire, they consider this is be a positive sign. This is their press release and figures for Q3 09 ending 31st July:
FY 2009’s third-quarter net signed contracts of approximately 837 units and approximately $447.7 million rose 3% in units and declined 5% in dollars compared to FY 2008’s third-quarter totals. The Company’s FY 2009 third-quarter home building deliveries and revenues of approximately 792 units and approximately $461.3 million declined 36% in units and 42% in dollars, and its third-quarter-end backlog of approximately 1,626 units and approximately $930.7 million declined 37% in units and 47% in dollars, compared to FY 2008’s third-quarter results.
More on Luxury Homes – Toll Brothers report increase in contracts for first time in 16 quarters
Filed under Press Releases by
Las Vegas luxury condos – at a 78% discount?
If a 78% price drop in Las Vegas luxury condominium prices sounds either too good to be true or your worst nightmare (depending on whether you bought back in 2006 or not), you will find this article of interest. Much of the current stagnation in the market place is due to either lack of credit or unreasonable selling prices, but Glenn Plantone, a professional real estate investor and realtor, has an interesting approach to developing a “niche within a niche,” and concentrating exclusively on Las Vegas high rise condos, which resulted in the said 78% discount sale.
Filed under Luxury Real Estate Marketing by
Coldwell Banker Residential Brokerage, the leading provider of real estate services in Northern California, has launched a new monthly luxury housing market report for the Truckee-Tahoe area with the first report finding a median price of $1.25 million and 19 property sales in excess of $1 million during the most recent quarter.
Filed under Press Releases by
