Denver Real Estate: Luxury Home Sales On The Rise

07/20/2010 03:49 pm ET | Updated May 25, 2011

Luxury home sales in the Denver metro area reached the highest point in nearly two years this June, demonstrating a steady improvement in the housing market. Sixty seven homes sold for $1 million or more last month, up 3% from June of last year.

According to the Denver Business Journal, this peak in sales can be largely attributed to historically low mortgage rates and competitively priced homes. Denver had the highest number of luxury home sales in Colorado last month followed by Boulder, Castle Rock, Cherry Hills, and Greenwood Village.

Resort towns in the Colorado Rockies are also reporting an uptick in luxury home sales.

Among the priciest pads sold last month in the Denver area was a six-bedroom, five-bathroom 9,207 square foot Denver home that sold for $3.95 million.