Denver Luxury Home Sales Remain Healthy

Monday, October 29, 2012


Although there have been recent statistic and reports that show the housing market is doing well in Denver, the strength of the luxury market should not be forgotten in the metro-Denver area. A recent report by Coldwell banker Residential Brokerage has shown that luxury homes in the Denver area with a selling price of 1 million or higher experienced a 38 percent surge in sales in August this year compared with the same time last year. 

With 73 luxury homes sold in August compared to the 53 sold in August 2011, Denver continues its strong performance of this summer. Denver also lead the way in Colorado with 18 luxury homes sold, Boulder came in second with 15 and Cherry Hills Village and Greenwood Village each sold 9 luxury homes each in August.

This is interesting news for buyers looking for luxury homes as there are some bargains to be had, evident from the increased rate of sales and the houses are certainly being snapped up with the average days that luxury homes spent on the market falling from 150.4 in August 2011 to 139.2 in August this year. Other statistics from the report are also interesting with the median sale price of million dollar homes falling by 3.8 percent year on year. Sellers were also receiving a higher percentage of the asking price at 95.4 percent compared to 92.3 last year. 

It seems that the luxury house market is healthy in Denver, reflecting the areas strong performance in the housing market as a whole.

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