Listings in the Denver metro area are gradually increasing which helps boost sales on the upper end of the market.
In fact, Metro Denver’s luxury housing market saw sharp sales gain and record-high prices in May, as well as rising inventory.
1. There were 127 luxury homes sold in May (a 36 percent increase from April’s 93 sales and a year-over-year increase of 24.5 percent).
2. The median sales price increased to $1,613,513 from last month, a 24 percent year-over-year increase compared to May 2013.
3. Homes sold in an average of 85.8 days on the market, down from 142 days a year ago and 96.1 days the previous month.
4. Sellers received an average of 96 percent of their asking price, up from 95 percent a year ago.
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