Luxury home sales rose steadily in the Denver Metro area from last month and from June 2016, according to a new report by Coldwell Banker Residential Brokerage, a leading provider of luxury real estate services in Colorado.
There were 259 sales of residential properties priced $1 million and higher in June, representing a 15 percent increase from 225 sales during the same month in 2016 and an 11 percent increase from 232 sales in May. The data is based on sales of $1 million-plus homes in the Denver Metro area recorded by the Multiple Listing Service.
The median sales price for luxury properties in June dipped slightly to $1,300,000 compared to $1,346,500 in June 2016. When compared to last month, the median sales price increased marginally from $1,293,150 a year earlier.
“Encouraged by the slightly lower price points of luxury homes, buyers were extremely active throughout the month of June,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado. “The upper end of the luxury market was especially strong as more ultra-luxury properties sold throughout the month than what we’ve seen in recent months.”
Of the luxury home sales in the Denver Metro Area, 38 were of properties priced $2 million or more last month, the same as in June of 2016, but a considerable increase from 21 sales in May 2017. Eleven $3 million-plus homes were sold in June, compared to eight in June 2016.
Below are some additional findings from the June Coldwell Banker Residential Brokerage luxury report:
- Cherry Hills Village saw the most expensive home sale throughout the month, an 11,487-square-foot estate with six bedrooms and three bathrooms, trading for $5,475,000
- Boulder and Greenwood Village claimed the majority of the highest-priced sales in June
- Luxury homes took an average of 75 days to sell in June, slightly above the average of 69 days in the prior year’s month and 67 days in May
- Sellers received an average of 96 percent of their asking price last month compared to 97 percent in June 2016
The Denver Metro Area Luxury Home Report is presented by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Global Luxury program, Coldwell Banker is recognized around the world for its expertise in the luxury housing market.