Expensive Homes Ruled in Denver Colorado

January 11, 2011 / Russell Legato, Residential Property Analyst

Expensive homes ruled in 2010 in Denver, Colorado area. The sale of expensive homes or $1 million-plus homes in Denver showed the largest percentage increase in 2010 from 2009, according to report from an independent real estate broker Gary Bauer.

Expensive Homes Ruled in Denver Colorado

While in general, the housing market was down in 2010, expensive homes with $1 million-plus range established more than 12 percent increase from 2009, resisting the trend for the overall housing market.

In the 11-county district the includes Elbert, Gilpin, Park, Clear Creek, and Boulder counties with the addition of other six other Denver-district counties, sales for $100,000 to $200, 000 home range were down by 33.6 percent in 2010, compared to the figures in 2009.

Sales under $100,000 homes in the six-county area of Jefferson, Douglas, Denver, Broomfield, Arapahoe, and Adams were down by 24.5 percent during the same period.

Low-end homes compared to expensive homes were the favorite of fix-and-flippers and investors in 2009, but because of the high demand, low-end homes became scarce commodities in 2010, according to Bauer.

According to Eddie Marks, a real estate professional who sold about $25 million in the housing market, there is reason why expensive homes sales increased last year. It is because of the fact that in 2009, the housing market got slammed, but it began selling at a considerable pace last year.

In the 2010 real estate record in Denver, about 529 expensive homes are sold last year, compared to 471 $1 million+ homes sold in 2009 in the 11-county area.

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