Luxury-home sales still strong in area
In July, 15 homes in the Boulder submarket sold for more than $1 million, which was down from 18 sales.
Boulder had the second-most million-dollar-plus sales in the Denver area, trailing only Denver, which had 22 sales.
Throughout the metro Denver area, 73 homes sold for more than $1 million, up from 69 that were sold in July 2011.
It still was a big drop from June, when 108 homes were sold for more than $1 million, making it the biggest-selling month since the report began in 2007.
The report is compiled from Multiple Listing Service data.
Other metrics improved in July. The median sale price reached $1.3 million, up 4.4 percent from June. Homes are spending less time on the market, and sellers are getting an average of 96 percent of their asking price, up from 93 percent in June.
Indicators continue to suggest that supply trails demand, and low inventory is the biggest challenge.
"Listings are down more than 38 percent from where the market was a year ago," Chris Mygatt, Coldwell Banker's president for residential brokerage in Colorado, said in a release. "Until more properties get on the market, it will be hard for sales to keep climbing at such a fast pace. The demand is there; the market just needs more homes."
More breaking news...
Boulder County posts state-low foreclosures
Tickets on sale for BCBR's Mercury 100
Across Colorado, the average was about 1 completed foreclosure sale
The list of 100