Denver Metro Area Luxury Home Sales Jump 41 Percent in August

Written by Posted On Friday, 21 September 2018 07:20

DENVER (September 21, 2018) – Luxury home sales rose significantly in the Denver Metro area from August of 2017, according to a new report by Coldwell Banker Residential Brokerage, a leading provider of luxury real estate services in Colorado.

There were 182 sales of residential properties priced $1 million and higher in August 2018, a 41.1 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 August 2018 dipped to $1,300,000, down 9.6 percent from $1,437,500 in August 2017.

“Overall sales in Denver at the luxury level made incredible gains compared to last year,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado. “The lower sales price allowed greater affordability for buyers in the one-million-dollar range.”

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

  • Luxury homes took an average of 70 days to sell in August 2018, a significant improvement from 83 days in August 2017
  • Sellers received an average of 95.7 percent of their asking price in August, roughly the same as the 95.2 percent ratio in August 2017
  • At the end of August 2018, there were 1,055 luxury homes available, compared to 1,130 luxury homes at the end of August 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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