Denver Metro Area Luxury Home Sales Jump 35%

Luxury home sales in the Denver Metro Area jumped more than 35 percent in September from a year ago as the fall home buying season began with a bang, according to a new report by Coldwell Banker Residential Brokerage, Colorado’s leading provider of luxury real estate services.

The figures are based on Multiple Listing Service data of all homes sold for more than $1 million last month in the Denver Metro Area.

A total of 106 luxury homes sold in September, up 35.9 percent from 78 high-end sales in September 2014. Luxury sales last month were off from August’s 147 transactions, although a seasonal decline from August to September isn’t unusual. In the upper end of the market, 17 homes sold for more $2 million, up from 14 a year ago.

The median sale price of a luxury home last month rose to $1,335,500, up 6.8 percent from August and 1.1 percent from a year ago, when it stood at $1,320,000.

“Fall is often one of our stronger home buying seasons, and this year certainly is starting off on the right foot in the luxury market,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage. “We saw strong sales figures in September and hopefully this will continue through the fall and the end of the year.”

Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:

  • The most expensive sale in the Denver Metro Area last month was 11,700-square-foot, five-bedroom, three-bath home in Cherry Hills Village that sold for $5,395,000;
  • Denver boasted the most million-dollar sales with 39, followed by Boulder with 15, Greenwood Village with nine, and Cherry Hills Village with six;
  • Homes sold in an average of 68.5 days on the market, up from 55.7 days a year ago and 67.5 days the previous month;
  • Sellers received an average of 98 percent of their asking price, up from 97 percent a year ago and the previous month.

The Denver Metro Area Luxury Home Report is produced by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Coldwell Banker Previews® program, Coldwell Banker is recognized around the world for its expertise in the luxury housing market.

Pictured: 9049 East Harvard Avenue, Creek Country Club

By | 2015-12-31T11:22:26+00:00 October 22nd, 2015|

About the Author:

Margaret Jackson is an award-winning journalist who spent nearly 25 years in the newspaper industry, including seven years as a business reporter for the Denver Post. While at the Post, Jackson covered both residential and commercial real estate and cultivated strong relationships throughout metro Denver’s business community. She’s worked at publications including the Fort Collins Coloradoan, St. Louis Business Journal and Belleville (Illinois) News-Democrat. Her awards include best reporting from the Colorado Press Association and business and investigative/enterprise reporting from the Society of Professional Journalists.

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