Reporter- Denver Business Journal
While the number of luxury homes sold in metro Denver dipped slightly from June to July, year-to-date statistics are still showing increases over 2011’s luxury sales, according to a report Monday from Kentwood Real Estate.
There were 46 homes and condos with a price tag of $1 million or more sold in the seven-county Denver metro area in July, down one from the 47 sold in July 2011. But year-to-date, there were 276 sales, up from the 245 sold through July in 2011 – a 12.7 percent increase.
Kentwood’s numbers come from Metrolist Inc., the Greenwood Village-based company that is metro Denver’s Multiple Listing Service, a database of home sales activity for real estate professionals.
The highest-priced sale of the month was $7.5 million. But it didn’t help the average-sales-price statistic, which fell slightly from $1.66 million in July 2011 to $1.62 million last month.
The most startling statistic from the report was the plunge in average days on the market, which went from 111 days in July 2011 to 56 days in July — an almost 50 percent drop.
Year-to-date total volume of luxury home sales stood at $370,536,342 through July, up 14 percent from 2011’s total volume through July.
The seven counties covered by the report include Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson. Boulder County is not included.
Dennis Huspeni covers real estate and retail for the Denver Business Journal and writes for the “Real Deals” blog.
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