Denver, Colorado — — The fifth estate is reporting a whopping $1,929,838 in real estate sales in January and February.
It’s the highest monthly total for January and the highest total for February in nearly a decade.
The total represented an 8.5% increase over January, and the month’s sales are the best January total in five years.
This month’s total also marked a 5.8% increase from January’s $1 million.
“January and February were two of the best months in the past 15 years,” said Michael Wiedenmann, senior vice president and director of marketing at Real Estate Investment Trust (REIT), the nation’s largest real estate brokerage.
Real Estate is still the best-performing category of the month in terms of sales, which are down 13.4% from January and 8.9% from February.
The biggest seller was the suburban neighborhood of Crestwood in Colorado Springs, where sales rose 13.2%.
“We had record highs for January, February and March,” Wieder said.
“The real estate market is starting to stabilize and we’re seeing more of a correction.”
Real estate has long been a hot property.
Sales were up 13.5%, more than double what they were in 2013, according to REIT.
The most recent monthly number for February was 4.5 million.
In January, RealtyTrac reported that real estate is the most-valuable property in the country.