Denver Luxury Homes Have High Demand in the Market

Denver Luxury Homes Have High Demand in the Market

December 16, 2013  |  Real Estate


According to the report by the Coldwell Banker Residential Brokerage,sale of luxury homes in Denver increased by 33% from last year. There were more than a 100 homes worth $1 million that were sold in May and 73 homes worth over $1 million sold in October.

Denver’s luxury market continues to gain momentum as the year ends, expecting it to carry through the next year. President of Coldwell Banker Residential Brokerage, Chris Mygatt said that there is a strong buyer demand for well-priced homes in the luxury market. This is despite the Federal Reserve’s announcement of its plans to taper its bond-buying program resulting to an increase in interest rates the past weeks. Still, the rates remain at nearly 50-year lows. Not bad, right? This situation is an indicator that the time to buy is NOW before rates go up any higher.

From reports compiled by the Coldwell Banker Residential Brokerage, it has been found that the highest sales mark in luxury homes were from Denver, followed by Boulder and Cherry Hills. There were 14 homes costing more than $2 million that were moved in May, which was twice the number that were sold in the same month last year.

The most expensive home sold as of Coldwell’s October update was a 7,400 square foot Boulder home that went for $3.4 million. While in May, the most luxurious sale went for $8.691 million for a nine-bedroom, 13,000 square foot mansion in Evergreen

Luxury home sellers so far got 96.5 percent of their asking price as of October 2013, a notch higher from the 94.7 percentage of last year. This is a clear indication of the continuing popularity and a surge in demand for luxury homes in Denver. The year 2013 ends on a good note for high-end homes in the market, and with the buying season coming up again pretty soon, the statistics stack up more favorably for luxury home listings.

The best is yet to come, indeed. And for home buyers in Colorado, you can safely say, the world of Denver real estate is your oyster.

For premiere real estate listings and more, check out The Blake Team’s luxury homes.

About the author

The Blake Team is a full-service Real Estate team based in Aurora, Colorado specializing in working with Buyers & Sellers, foreclosures/HUD, short sales, and luxury properties. A team with years of experience and an impressive success rate that made it the No.18 real estate brokerage in the nation, as well as the No.1 Keller Williams agent in Colorado led by CEO & Founder Lisa Blake. The Blake Team is your No. 1 choice for getting your dream home!