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

Select your Republic Services residential cart now!

In preparation for Republic Services becoming the primary provider of residential recycling, yard trimmings, and trash, residents should now select the best cart size and service schedule for their household needs.

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.