Denver Metro Area Luxury Home Sales Soar in June, Coldwell Banker Residential Brokerage Reports
Denver, CO, July 17, 2011 --(PR.com)-- Luxury home sales in the Denver Metro Area soared in June from the previous month and were also up from a year ago as high-end buyers took advantage of attractive property values in many areas, according to Coldwell Banker Residential Brokerage, Colorado’s leading provider of luxury real estate services.
A total of 71 homes changed hands for more than $1 million last month, up sharply from May’s total of 47 sales. June’s transactions also outpaced June 2010 when 67 luxury homes were sold. Additionally, the ultra luxury market gained momentum with 11 multi-million-dollar homes selling last month, up from seven in May.
The median sale price of million-dollar homes moved higher in June, reaching $1.3 million from $1.25 million in May. However, the median was off from last June’s $1.34 million price.
Other indicators also provided encouragement for the high-end market in the Denver Metro Area: Homes also sold at a faster rate on average at 164 days vs. 215 for those closing the previous month. And sellers received an average of 92.6 percent of their asking price, up from 91.3 percent in May and 90.4 percent last June.
The figures were derived from Multiple Listing Service data of all homes sold for more than $1 million last month in the Denver Metro Area.
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