Coldwell Banker: 27% jump in luxury sales


  • Coldwell Banker releases luxury home sales report.
  • Report covers sales in October.
  • Median price is up.

Luxury home sales in October in the Denver area jumped by 27 percent from both October 2012 and September, according to a report by Coldwell Banker Residential Brokerage.

A total of 93 homes sold for at least $1 million in October, compared with 73 in September and in October of lsat year, according to an analysis of Mutliple Listing Service data.

There were 14 sales in October above $2 million, up from eight in October 2012 and 12 in September.

The median sale price of a luxury home last month was $1.36 million, up 7.3 percent from a year ago levels and off fractionally from the $1.369 million median price in September.

Other market indicators were mixed.

Sellers received a higher percentage of their asking price on average than in September and October 2012. But homes took a little longer to sell on average than the previous month and a year ago.

“The Denver metro area’s luxury market remains quick healthy as we continue through the fall selling season and approach year-end,” said Chris Mygatt, president of Coldwell Banker Residential Brokerage in Colorado.

“There still is strong buyer demand for well-appointed and well-priced homes in the upper end of the market.”

Some key findings from this month’s Coldwell Banker Residential Brokerage luxury report:

  • The most expensive sale in the Denver Metro Area last month was a six-bedroom, six-bath approximately 7,400-square-foot home in Boulder that sold for $3.4 million;
  • Denver boasted the most million-dollar sales with 27, followed by Boulder with 15, Cherry Hills Village with nine, Greenwood Village with eight, and Castle Rock with five;
  • Homes sold in an average of 105.4 days on the market, up from 101.3 days a year ago and 87.7 days in September;
  • And sellers received an average of 96.5 percent of their asking price, up from 94.7 percent a year ago and 94.3 in September.

An earlier report on luxury homes by Kentwood Real Estate showed a slight drop in October. But the Kentwood report does not include Boulder.

Have a story idea or real estate tip? Contact John Rebchook at is sponsored by Universal Lending, Land Title Guarantee and 8z Real Estate. To read more articles by John Rebchook, subscribe to the Colorado Real Estate Journal.


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John Rebchook

John Rebchook has more than 30 years of experience in writing and communications. As the Real Estate Editor for the Rocky Mountain News, he wrote about residential and commercial real estate for 26 years. He has won numerous awards for business stories and columns that he wrote, both as an individual and part of teams. In addition to real estate, he also covered economic development, banking and financing, the airlines, and cable TV for the Rocky. In addition, he was one of the original freelance writers for, covering commercial real estate for the Internet publication.

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