Sales of homes priced at more than $1 million in the Denver area rose to their highest level in two years last month, but it was largely because prices have been deeply discounted.
Sixty-seven homes sold for more than $1 million in June, up 22 percent from May and 3 percent from a year earlier, when 55 and 65 properties sold, respectively.
“For homes that are very exceptional and unique, we can locate a buyer,” said Chris My gatt, president and chief operating officer at Coldwell Banker Residential Brokerage.
Luxury homes in central neighborhoods such as Country Club, Bonnie Brae and Polo Club are selling better than their suburban counterparts, whose owners spend a significant amount of money maintaining their gardens, Mygatt said.
“Look at the property taxes and upkeep of an acre of highly manicured grounds,” he said. “People don’t want the responsibility of maintaining these properties on the high end.”
Luxury-real-estate specialist Edie Marks is holding a one-day sale on an 8,000-square-foot home at 7100 E. Crestline Ave. in Greenwood Village. The replacement cost of the 4-year-old home, which has a pool, a tennis court and a golf tee, is $4.5 million; Marks lists it for $3.6 million.
But on July 29, Marks will drop the price to $2.8 million for the day.
“I think we just have to do innovative things to blast things out of the water,” Marks said. “It all goes back to the political climate we’re living in — a climate that has scared people to inaction. They’re afraid to make decisions because they don’t know what the government is going to do.”
Marks has dropped the price on several homes, including 11 Blackmer Road in Cherry Hills Village. The 14,657-square-foot home started at nearly $8 million. Now, after dropping several times, the price is down to $2.75 million.
“I’m hoping somebody who’s looked at it will come back and it will be gone in a week,” she said.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
