In a meeting today, The Kentwood Company announced a dramatic increase in the number of Denver relocation transferees buying homes. So far this year, 36% of all transactions have been to people moving into Denver.
This is a dramatic increase from the prior year and 2005 where only 22-24% of all homes sold were to relocation buyers.
That bodes well for the Denver market. So, does the May sales figures for the Greenwood Village office. In near record setting pace, the 52 agents in my office sold almost $94 million in residential real estate in just the month of May.
All this belies the popular notion that Denver real estate is in a slump.
So, what is the difference between my office and the rest of Denver. Mostly, it is location and caliber of the agents. The south part of Denver and the suburbs has fared much better that the rest of the market this year. Prices are steady to up slightly. Sales times are lower than other sections of Denver. Foreclosures here are relatively rare.
Denver real estate has been bolstered by the fact that more people are moving into the Denver market than moving out.
The average experience in my Kentwood Company office is 22 years in the real estate business. Average sales volume is $14 million per year per agent.