Denver Metro Area Luxury Home Sales and Prices Up in April

Written by Posted On Friday, 11 May 2018 06:23

DENVER (May 11, 2018) – Luxury home prices and overall sales rose significantly in the Denver Metro area from April 2017, according to a new report by Coldwell Banker Residential Brokerage, Colorado’s leading provider of luxury real estate services.

There were 183 sales of residential properties priced $1 million and higher in April, representing a 36.6% percent increase from 134 sales during the same month in 2017. 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 April made gains by 10 percent from $1,430,000 compared to $1,300,000 in April 2017.

“The luxury housing market saw a strong uptick in April with overall sales increasing dramatically year-over-year,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage. “As sales and prices increased, homes sold at a quicker pace compared to last year and sold for almost exactly the original asking price.”

 

Of the luxury home sales in the Denver Metro Area, 32 were of properties priced $2 million or more last month, a slight improvement from 30 sales in April 2017. Twelve $3 million-plus homes were sold in April 2018, compared to eight in April 2017.

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

  • Cherry Hills and Boulder saw the two most expensive sales in the area, with sales at $4,700,000 and $4,075,000, respectively
  • Luxury homes took an average of 63 days to sell in April compared to an average of 89 days in the prior year’s month
  • Sellers received an average of 97.2 percent of their asking price, an improvement from 95.4 percent in April 2017

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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