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Luxury market update

(source: Denver Post)
The number of metro Denver luxury home sales increased 33 percent in December compared with December 2013, although median sale prices slipped to $1.3 million, down 2.8 percent from a year ago, according to Coldwell Banker Residential Brokerage.
 
The median price in December was $1,322,500 down slightly from December 2013's median price of $1,336,894.
 
The figures are based on Multiple Listing Service data of all homes sold for more than $1 million in December in the Denver metro area.
 
A total of 100 luxury homes sold in December, compared to 75 in December 2013 and climbing 23 percent from the 81 luxury homes sold in November.
 
Coldwell Banker Residential Brokerage president Chris Mygatt said the metro Denver housing market finished 2014 the way it began 2014 with very strong gains in the luxury segment.
 
He noted that the upper end of the market was particularly strong in December with 18 sales of more than $2 million, more than double the sales in that category in 2013.
 
"Our local economy continues to do well, homeowner equity continues to climb along with property values, and there continues to be strong buyer demand," Mygatt said in a statement. "Those are all great ingredients for the luxury market."
 
Denver had the most million-dollar sales with 37, followed by Boulder with 15 and Cherry Hills with five.
 
The most expensive sale in the metro area in December was a three-bedroom, four-bath approximately 4,400-square-foot home in Boulder that sold for $4,401,000.
 
In November, the most expensive sale was in Greenwood Village that went at $3,825,000.
 
In December, sellers received an average of 95 percent of their asking price, down from 95.5 percent in December 2013 and 97 percent in November.

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