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Luxury Homes Selling Fast in Denver

The Denver metro area is brimming with luxury residences, and the sales of these properties has grown significantly in the last year–with current sales numbers double last year’s. Denver has the most million-dollar sales with 24 homes, followed by Boulder with 19, Cherry Hills Village with 12 and Greenwood Village with 10. The Cherry Hills Village movers have found that the total $1 million-plus home sales for April 2013 in the region totaled 93. That is a 44 percent increase from April 2012. Despite a large growth in inventory sold, the median sale price for luxury homes declined by 8.8 percent from the same comparative time period.

Time on the market is decreasing for luxury homes, and the average length of time that houses are spending on the market is about 121 days, down from the previous average of 172.6 days last year. Additionally, sellers are receiving 96% of what their asking prices are, up slightly from last year’s 93% average.

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