The sale of high-priced homes in metro Denver surged 33 percent in a year, according to the most recent report byÂ Coldwell Banker Residential Brokerage, released Tuesday.
There were 101 homes costing more than $1 million each that changed hands in May, according to the report. That's up from 93 sold in April.
â€œDenver Metro Areaâ€™s luxury housing market continues to gain momentum as the year moves along,â€ saidÂ Chris Mygatt, president. â€œWell-qualified buyers remain determined to purchase while prices are still attractive and mortgage rates still quite low.â€
Coldwellâ€™s report is based on multiple listing service data fromÂ Metrolist Inc.
The price of those homes continued to climb, as reflected in every other local or national survey of metro Denver home sales recently. The median sales price rose 2.4 percent from April to $1.3 million, which is also a 2.2 percent climb from May 2012â€™s median price of $1.272 million.
Mygatt said that although interest rates have ticked up in recent weeks following the Federal Reserveâ€™s announcement of plans to taper its bond-buying program, rates remain near 50-year lows.
â€œI think savvy homebuyers understand that the time to get into a home is now before rates go up any higher,â€ he said. Source Denver Buisness Journal
For more information on buying Denver homes, selling Denver homes, or rent to own Denver homes, please visit the websites at www.MyDenverHomeAgent.com or www.RentToOwnDenverHomes.com.Â