Luxury-home sales slip a bit in February

BOULDER – Luxury-home sales in the Denver metro area, booming over the past several months, finally slowed in February, according to the latest report from Coldwell Banker Residential Brokerage.

Forty-two luxury homes sold in February, down from 45 for the same month a year ago and even with January sales. The numbers are based on Multiple Listing Service data of homes sold for $1 million or more.

Denver led the way with 13 million-dollar sales last month, followed by Boulder with eight.

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The median sale price dipped to $1,252,500, down 3.3 percent from February 2013 and down from January’s mark of $1,389,300.

“Wherever I go, no matter what the market, brokers say the biggest single challenge is a lack of inventory,” Chris Mygatt, president of Coldwell Banker Residential Brokerage, said in a release. “It’s not that there isn’t any demand. People want to buy, but they just don’t have enough quality listings to choose from.”

Sellers on average received 95 percent of asking price in February, the same as January and down from 95.8 percent a year ago.

The most expensive sale in the region was an 8,200-square-foot home in Cherry Hills Village that went for $3.1 million.