Metro-area luxury home sales up 24.5 percent

BOULDER – Luxury home sales in the Denver metro area leaped up 24.5 percent in May versus the same month a year ago, according to the latest report from Coldwell Banker Residential Brokerage.

The figures are based on Multiple Listing Service data of all homes sold for $1 million or more.

May saw 127 such sales in the metro area, up from 102 in May last year and up 36 percent from April’s mark of 93. Median sale price, meanwhile, hit $1,613,513 in May, up almost 24 percent from last year.

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Boulder saw 20 luxury home sales, second only to Denver with 36. Greenwood Village had 12 and Cherry Hills Village 11.

The most expensive May sale in the metro area was a six-bedroom, four-bath, 12,800-square-foot home in Denver that sold for $4.8 million.

Luxury homes sold in an average of 85.8 days on the market, down from 142 days a year ago and 96.1 in April.

“Listings in the Denver metro area are gradually starting to increase, and that’s helping boost sales in the upper end of the market and giving pent-up buyers some relief,” Coldwell Banker Residential Brokerage president Chris Mygatt said in a statement. “We’re hoping this trend continues as we look toward the summer months.”