The sales of houses priced over $1 million blew out the numbers of the rest of the market, according to reports from Denver Metro Association of Realtors, Kentwood Real Estate and Coldwell Residential Brokerage. Apparently the temperature outside wasn’t the only thing rising in June, according to Coldwell Banker 223 luxury home sold in June, a 24.6 percent jump from 179 in June 2015.
Despite the overall market cooling, sales last month of luxury homes rose 32.7 percent from May’s 168 luxury home sales. Although some of that rise was due to the normal seasonal moves in the market, the rise was still significant with June’s median sale price up 2.6 percent from May, when it stood at $1.296 million.
The biggest catalyst in the spike in sales was the upper end of the luxury market, according to Coldwell. There were 35 sales of homes of more than $2 million last month, 150 percent more than than 14 in June 2015. Last month was the best June on record for luxury home sales according to Coldwell Banker Residential.
If you’re looking for a luxury home in Denver, check out our Cherry Hills listing here.