The Denver luxury home market is seeing a huge increase in homes sold in August. According to a report released by Coldwell Banker Residential Brokerage, 73 homes sold for more than $1 million in August 2012, up 38% from last August “when 53 homes changed hands.” Other signs that the luxury market is gaining momentum is the speed of which these homes are selling. On average, in August 2011 it took 150.4 days for a luxury home to sell, where as in August 2012, homes sold in 139.2 days. Sellers also received a higher percentage of their asking price.
Here are some of the findings on Coldwell Banker Residential Brokerage luxury report:
- The most expensive sale in the Denver area last month was a four-bedroom, six-bath home in Denver with more than 7,300 square feet that sold for $3.5 million.
- Denver also boasted the most million-dollar sales with 18, followed by Boulder with 15 and Greenwood Village and Cherry Hills Village with nine each.
- There were six multi-million-dollar sales last month, down from 11 a year ago and 10 in July.
If you are looking to buy a luxury home in the Denver area please contact Ann Meadows at 888-860-1931.