Denver Metro Area Luxury Home Sales Increase in July

Written by Posted On Thursday, 16 August 2018 08:51

DENVER (August 16, 2018) – Luxury home sales rose significantly in the Denver Metro area from July of 2017, according to a new report by Coldwell Banker Residential Brokerage, a leading provider of luxury real estate services in Colorado.

There were 201 sales of residential properties priced $1 million and higher in July 2018, a 21.1 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 July 2018 rose to $1,342,500, down a marginal .6 percent from $1,350,000 in July 2017.

“The Denver area has seen an incredibly active luxury housing market so far this year,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado. “Once again, total luxury sales are on the rise with a healthy supply of inventory.”

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

  • Luxury homes took an average of 66 days to sell in July 2018, nearly the same as in July 2017 which saw an average of 65 days on market
  • Sellers received an average of 96.1 percent of their asking price in July, a gain from 94.8 percent in July 2017
  • At the end of July 2018, there were 1,095 luxury homes available, compared to 1,161 luxury homes at the end of July 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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