Denver Metro Area Luxury Home Sales Jump in Second Quarter

Written by Posted On Wednesday, 18 July 2018 09:21

DENVER (July 18, 2018) – Luxury home sales rose significantly in the Denver Metro area from the second quarter of 2017, according to a new report by Coldwell Banker Residential Brokerage, a leading provider of luxury real estate services in Colorado.

There were 653 sales of residential properties priced $1 million and higher in Q2 2018, a 29.6 percent increase from the prior year’s second quarter. 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 Q2 2018 rose to $1,346,000, up 2.7 percent from $1,310,000 in Q2 2017.

“The Denver luxury housing market made significant gains in overall sales in the second quarter of the year,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado. “Homes are selling at a much faster pace than last year, yet buyers are still able to purchase luxury homes at a slight discount from the original list price.”

Below are some additional findings from the Q2 Coldwell Banker Residential Brokerage luxury report:

  • Luxury homes took an average of 57 days to sell in Q2 2018, a faster pace from 80 days in Q2 2017
  • Sellers received an average of 96.9 percent of their asking price last quarter, a gain from 95.9 percent in Q2 2017
  • At the end of Q2 2018, there were 1,120 luxury homes available, compared to 1,160 luxury homes at the end of Q2 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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