Luxury home sales, median price, up in August

DENVER — The number of luxury homes sold in the Denver metro area, including Boulder, increased 12.7 percent in August compared with the same period a year ago, and median sale prices edged higher, according to a report released Wednesday by Coldwell Banker Residential Brokerage.

The figures are based on multiple listing service data of homes sold for more than $1 million.

A total of 115 luxury homes sold in August, up from the 102 transactions in August 2013. On a monthly basis, sales were off last month from July, when 131 million-dollar transactions were recorded.

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The median sale price of a luxury property in August reached $1,320,000, up 2.2 percent from last year, when the median stood at $1,292,618. But the median in August was down slightly from the previous month, when it was $1,375,000.

The upper end of the luxury market was flat from a year ago with 15 homes selling for $2 million or more. Homes sold at a slightly slower pace than last year while sellers received a similar percentage of their asking price year over year, according to the report.

The most expensive sale in the Denver metro area last month was a five-bedroom, two-bath approximately 2,700-square-foot home in Parker that sold for $3,995,000.

There were 25 million-dollar home sales in Denver, Boulder had 16 and Cherry Hills Village had nine.

Homes sold in an average of 85.9 days on the market, up from 82 days a year ago and 74 days the previous month.

The report said sellers received an average of 96 percent of their asking price, the same as a year ago and down slightly from 98 percent the previous month.