June luxury-home sales up in Denver metro area

DENVER -Luxury-home sales in the Denver metro area were up in June, increasing 8 percent compared with last year, according to a report released Friday Coldwell Banker Residential Brokerage.

The report is based on Multiple Listing Service data of homes sold for more than $1 million last month.

Denver boasted the most million-dollar sales with 32, followed by Boulder with 23, Cherry Hills Village with 12 and Greenwood Village with nine.

SPONSORED CONTENT

Business Cares: May 2024

As Mental Health Awareness Month unfolds in Colorado, it serves as a reminder of the collective responsibility to prioritize mental well-being.

A total of 121 luxury homes sold in June, up from the 112 transactions in June 2013. On a monthly basis, sales were down 4.7 percent from May’s level of 127 transactions.

The median sale price last month was $1,279,451, down 2.9 percent from a year ago, when the median was at $1,317,482.

The upper end of the luxury market continued to improve in June with 20 sales more than $2 million, up from 16 a year ago. Homes also sold much faster and sellers received a higher percentage of their asking price on average than June 2013.

The most expensive sale in the Denver metro area last month was a eight-bedroom, nine-bath approximately 19,800-square-foot home in Cherry Hills Village that sold for $5.25 million.

Homes sold in an average of 66.2 days on the market, down from 141 days a year ago and 85.8 days the previous month.

Sellers received an average of 97 percent of their asking price, up from 96.1 percent a year ago and 96 percent the previous month.