Denver luxury home sales dipped, but selling faster

Denver luxury home sales dipped in July, but those that did sell moved faster - In July, luxury home sales and selling prices in metro Denver dipped, but the homes that did sell sold at a faster pace than a year ago. A total of 52 homes selling for $1 million-plus sold last month, down from 65 in June and from 91 in July of 2008. The median selling price for high-end homes decreased to $1.22 million in July, from $1.38 million in June and from $1.31 million in July 2008. But luxury properties sat on the market only 83 days before selling in July, compared to 103 days in June and 107 days in July 2008, according to Coldwell Banker's luxury housing report. Homes sold for 87% of asking price on average, down from 91% in July 2008.http://www.bizjournals.com/denver/stories/2009/08/31/daily17.html