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DENVER BUSINESS JOURNAL - Sellers of luxury homes in June 2014 received a higher percentage of their asking price compared to June 2013 after the market saw a jump by 8 percent.

That's according to Coldwell Banker's Residential Brokerage June report, which also found that luxury homes stayed on the market for fewer days compared to June 2013.

Sales of luxury homes were down slightly from last month, dropping 4.7 percent — from 121 transactions in June 2014 compared to 127 in May 2014. That's still up compared to June 2013, which had 112 transactions.

Chris Mygatt, president of Coldwell Banker Residential Brokerage, said there was a slight improvement in listings earlier in 2014, but the market is still challenged by low inventory, which impacts sales numbers.

"We're hoping that turns around as summer continues," Mygatt said. "We've got the buyers ready to jump in, but we need more homes to meet the strong demand."

Read the full report on the Denver Business Journal: http://bit.ly/U9xFIM.

(© 2014 American City Business Journals. All rights reserved.)

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