Luxury home sales in the Denver Metro Area continued climbing last month with sales up 38 percent over last September, according to a new report by Coldwell Banker Residential Brokerage, Colorado’s leading provider of luxury real estate services.

The figures are based on Multiple Listing Service data of all homes sold for more than $1 million last month in the Denver Metro Area.

 

A total of 69 homes sold for more than $1 million in September, up from the same month a year ago when 50 high-end homes changed hands. Sales were down from the August total of 74 transactions, although a small seasonal downturn is normal.

The median sale price of a luxury home closing in September was off 1.9 percent from last year to stand at $1,312,500. But the median price was up 3.9 percent from August.

Other market indicators were positive. There were 15 multi-million-dollar sales last month, triple the number a year ago. Homes also sold at a fast pace year over year and sellers received a higher percentage of their asking price on average.

“Luxury home sales in the Denver Metro Area remain very strong as we go through the fall selling season,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado. “We were encouraged by the number of transactions, in particular the robust sales in the high-end of the luxury market.”

Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:

  • The most expensive sale in the Denver Metro Area last month was a eight-bedroom, nine-bath approximately 8,000-square-foot home in Denver that sold for $5.4 million;
  • Denver also boasted the most million-dollar sales with 25, followed by Boulder with eight, and Greenwood Village with six and Cherry Hills Village with five;
  • Homes sold in an average of 152 days, down from 202.7 days a year ago but up from 139.2 days the previous month;
  • Sellers received an average of 92 percent of their asking price, up from 91.7 percent a year ago but down from 95.4 percent the previous month;
  • There were 15 multi-million-dollar sales last month, up from five a year ago and seven the previous month.

The Denver Metro Area Luxury Home Report is produced by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Coldwell Banker Previews® program, Coldwell Banker is recognized around the world for its expertise in the luxury housing market.

Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company in Colorado, operates 14 offices with 1,115 sales associates serving the communities of the Denver area. The company offers residential and commercial brokerage, corporate relocation and mortgage services. Through its internationally renowned Coldwell Banker Previews® program, Coldwell Banker is widely recognized for its expertise in the luxury housing market. Coldwell Banker Residential Brokerage, online at www.ColoradoHomes.com, is part of NRT LLC, the nation’s largest residential real estate brokerage company. For more information, please visit www.ColoradoHomes.com or call 925.275.3085.

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