In December 2011, luxury home prices across the Metro Denver area jumped eight percent, showing signs that the high-end market was alive and well at the end of the year.

The median price for a million-dollar-plus home in the Metro Denver area was $1.35 million in December 2011, up from $1.245 million in November 2011 and $1.25 million in December 2010. Overall home million-dollar-plus home sales in December dropped slightly to 41 homes from 45 homes one month prior and 51 homes one year prior. However, multi-million-dollar home sales increased to nine homes in Denver, up from five in November and eight in December 2011.

Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado, stated, “We’ve seen really good activity in the upper end of the market for the better part of the past year. That’s a healthy sign for the overall market because history has shown that sustainable recoveries in the housing market typically begin with the luxury segment.”

The challenge seems to be that there are too few homes on the market, not a lack of buyers. This presents a unique opportunity for Denver home sellers as there is still a healthy demand right now, just not the selection of homes that home buyers would like.

Visit Coldwell Banker Residential Real Estate Table Talk for more information about the latest Metro Denver real estate figures and information. If you would like to take advantage of listing your home in a market with low inventory, call me today!

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