Luxury home median sale price up in Sept.

DENVER – While the number of Denver metro luxury homes in sold dipped in September, the median sale price rose 5.9 percent from the previous month to $1.369 million, according a report released Thursday by Coldwell Banker Residential Brokerage.

The figures are based on Multiple Listing Service data of homes that sold for $1 million or more in the area last month.

Seventy-three such homes sold in September, up four from the same month a year ago, though down significantly from August’s count of 98.

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“The luxury housing market in the Denver Metro Area is still moving forward, although we are seeing signs that it is gradually easing a bit after a tremendous run-up earlier this year,” Coldwell Banker Residential Brokerage president Chris Mygatt said in the release. “The challenge we continue to face is having enough inventory for sale to meet the steady demand of buyers out in the market. On top of that, the government shutdown is causing delays in getting deals closed as we wait for paperwork to be processed.”

Thirteen luxury homes in Boulder were sold in September, second in the area only to Denver’s 27.

The most expensive sale in the metro area was a four-bedroom, seven-bath, 8,800-square-foot home in Cherry Hills Village that went for $5.3 million.

Luxury homes sold in an average of 101 days on the market, up from 82.3 days in August. Sellers received an average of 93 percent of asking price, down from 96 percent last month.