Luxury home sales in Denver up in March

Amid falling home sales nationwide, the sale of luxury properties in Denver has increased, according to the Denver Business Journal.

The source reports that statistics from Metrolist show 36 single-family homes worth $1 million or more were sold in the city and its surrounding areas in March. Three of those homes were condominiums and the most expensive property sold in the area that month cost approximately $2.6 million.

According to the source, the figures for residential sales in the area were up by 22 percent from February and 14 percent year-over-year.

Two of the luxury properties were sold in Douglas County, which Forbes named one of the 10 richest counties in America. It ranked seventh, due largely in part to the county's median household income of $99,522.

High luxury property sales in the midst of a struggling real estate market is nothing new, as MDA DataQuick reported that sales of homes costing $1 million or more increased in all twenty metro areas reporting by about 18.6 percent.  

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