Denver Metro Area Luxury Home Sales Increase in February

Written by Posted On Tuesday, 20 March 2018 08:33

DENVER (March 20, 2018) – Luxury home sales rose in the Denver Metro area from February 2017, according to a new report by Coldwell Banker Residential Brokerage, a leading provider of luxury real estate services in Colorado.

There were 158 sales of residential properties priced $1 million and higher in February 2018, an 81.6 percent increase from the prior year’s month. The data is based on sales of $1 million-plus homes in the Denver Metro area recorded by the Multiple Listing Service.

The median sales price for luxury properties in January dipped to $1,252,500, down a marginal .6 percent from $1,260,000 in February 2017.

“The significant increase in total luxury sales is setting the Denver metro area up well for a strong spring selling season,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado. “While sales are on the rise, inventory is also increasing and homes are selling at a quicker pace.”

Below are some additional findings from the February Coldwell Banker Residential Brokerage luxury report:

  • Luxury homes took an average of 86 days to sell in February, a faster pace from 126 days in February 2017
  • Sellers received an average of 94.9 percent of their asking price last month, up from 94.1 in February 2017
  • There were 1,319 luxury homes on the market in February 2018, up from 1,240 available homes in February of last year and 1,249 homes in January 2018

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

Coldwell Banker Residential Brokerage in Colorado, a leading residential real estate brokerage company, operates approximately 15 offices with more than 1,000 affiliated agents serving the communities along Colorado's Front Range. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the company. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. For more information, visit ColdwellBankerHomes.com.

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