Luxury home sales up 8%

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.

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About thenoelteam

As a Broker with RE/MAX Alliance, I work energetically for my clients whether they are a buyer or seller. I help you achieve your goal of owning a home or getting the best price for your home in the shortest time possible. After graduating from UCLA with a degree in communications and finance, I was licensed in 1977 and since then I have sold over 3600 properties amounting to over $1 billion in sales. I currently rank in the top 10 in home sales for Colorado. I offer the same quality of service and superior communication to all clients, ranging from starter homes to multi-million dollar estates, commercial and income properties, relocations and foreclosures My goal is to provide you with the best representation possible whether you are buying or selling. Over the years, one of the things that I've discovered is that there is a difference in the way individual Realtors do business. For me, I have always felt that honesty and personal integrity are the foundations upon which a successful business and career are built and sustained. I have an extensive background and knowledge base in real estate, including financing, which has enabled me to provide outstanding, quality advice and service not found with many agents today. My commitment to communication creates a positive relationship between my client and myself that results in a successful property sale or purchase. My passion for real estate, commitment to my clients and personal integrity has helped me to achieve success placing me in the top 1% of all brokers in nationwide. In my career, I have earned a number of awards and received considerable recognition for my success but the most significant recognition comes from the fact that over 75% of my business comes from past clients. My success is a true measure of my client satisfaction.
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