Denver Metro Area Luxury Home Sales Jump 20.9 Percent in May

Written by Posted On Monday, 25 June 2018 11:43

DENVER (June 25, 2018) – Luxury home sales rose by 20.9 percent in the Denver Metro area from May 2017, according to a new report by Coldwell Banker Residential Brokerage, Colorado’s leading provider of luxury real estate services.

There were 231 sales of residential properties priced $1 million and higher in May, representing a 20.9 percent increase from 191 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 May made gains by 2.3 percent to $1,350,000 compared to $1,320,000 in May 2017.

“We’re seeing a strong increase in overall luxury sales and those homes are selling at a much quicker pace than the same time frame last year,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage. “The home value increase is a clear signal to luxury home owners that now is a great time to sell.”

 

Of the luxury home sales in the Denver Metro Area, 36 were of properties priced $2 million or more last month. Eleven $3 million-plus homes were sold in May 2018.

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

  • Boulder and Cherry Hills saw the two most expensive sales in the area, with sales at $4,750,000 and $4,400,000, respectively
  • Luxury homes took an average of 53 days to sell in May compared to an average of 70 days in the prior year’s month
  • Sellers received an average of 97 percent of their asking price, an improvement from 96.7 percent in May 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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