Denver luxury homes selling at a faster rate

Denver luxury homes with an asking price over $1 million are selling twice as fast compared to a year ago according to MLS data. In April, 93 Denver luxury homes sold in the Denver area compared to 44 sold in April of 2012. In addition, April’s number’s showed a 31% increase as compared to March’s 71 sold. Even with the increased sales, the median sale price for Denver luxury homes dropped 8.8% year over year to $1.27 million.  There was also a decrease in average days on the market with 120.7 days on average, down from 133 days in March and 172.6 days average from April 2012. Furthermore, in April, 13 Denver luxury homes sold for more than 2 million up from 10 homes sold in 2012