DENVER — The Denver metro's luxury market took a hit in the second quarter as the impacts of the coronavirus came into focus.
New listings of homes priced at or above $1 million in the first half of 2020 were still up 1.76% from the same period a year ago, according to data from the Denver Metro Association of Realtors. But that was far short of the double-digit growth seen in that segment since 2016.
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Year-to-date sales of detached luxury homes were also down 12.41% from June 2019 to June 2020.
Nevertheless, June offered some indications that activity in the luxury segment was picking back up. New listings in June were up 17.14% from a year ago. Sales of detached luxury homes doubled from May to June, reaching 230.
By the end of the month, there were 413 pending sales of detached luxury homes, up 58.85% year over year.
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