Luxury homes in the Denver metro area are selling nearly a month faster than they were a year ago, according to a recent report from the Denver Business Journal. Local homes costing over $1 million sold in an average of 96 days in April, compared to an average of 122 days in April of 2013, and 143 days in March of this year, the report stated.
While the number of luxury homes sold was slightly down this April compared to last, there was an 11 percent increase in sales from March’s 84 to April’s 93, and April’s median sale price of $1,297,100 was up more than three percent over the month before and nearly two percent from a year ago, the Business Journal reported. There are fewer luxury homes available in the area as compared to last year, with 661 this April and 719 in April, 2013. The most expensive home sold in April of this year was a 12,000 square foot home in Cherry Hills Village for $4.45 million. Denver had the highest number of luxury homes sold in the area, followed by Boulder and Cherry Hills Village.
With less inventory, it helps to have an experienced real estate broker to help you with your metro Denver luxury home search. J. David Lampe is a member of the Institute of Luxury Home Marketing and is a native of metro Denver. His interest in real estate began when he was a teen and his parents were buying and selling area real estate. David relies on the use of technology to provide an ease of service and communications for his clients.
For more information on how David can help you find your new luxury home, contact us.