Luxury home sales in the Denver area rose 8 percent in June from June 2013, according to a report released Friday.
The report is based on Multiple Listing Service data of all homes sold for more than $1 million.
A total of 121 luxury homes sold in June, up from the 112 transactions in June 2013.
Sales were down 4.7 percent from May, when 127 luxury homes closed.
Meanwhile, the median sale price last month was $1.27 million, down 2.9 percent from a year ago, when the median stood at $1.32 million.
The upper end of the luxury market continued to improve in June with 20 sales of more than $2 million, up from 16 in June 2013. Homes also sold much faster and sellers received a higher percentage of their asking price on average than June 2013.
Some key findings from the June data:
- The most expensive sale was an eight-bedroom, nine-bath approximately 19,800-square-foot home in Cherry Hills Village that sold for $5.25 million;
- Denver boasted the most million-dollar sales with 32, followed by Boulder with 23, Cherry Hills Village with 12, and Greenwood Village with nine;
- Homes sold in an average of 66.2 days on the market, down from 141 days a year ago and 85.8 days the previous month;
- Sellers received an average of 97 percent of their asking price, up from 96.1 percent a year ago and 96 percent the previous month.
The Kentwood report does not include Boulder.