Lesser Luxury Home Sales Recorded in December

January 14, 2011 / Russell Legato, Residential Property Analyst

In Metro Denver, luxury home sales were down in December 2010 compared to the same month in 2009. But, according to a data release Thursday from Metrolist Inc, the total luxury home sales in 2010 in metro Denver area were up to about 12 percent compared to the previous year.

Lesser Luxury Home Sales Recorded in December

December luxury home sales or resales, which include condominium and standard houses for $1 million or more dropped by about 18 percent or 43 sales from 53 sales for the last month of 2009.

For December 2010 luxury home sales took place in 6 metro-area counties, which is led Boulder County with 12 home sales. Other by-county sales included Denver with 10 home sales, Arapahoe and Douglas with 8, each, Jefferson with 3, and Broomfield with 1 sale.

The average sold price for homes alone decreased by 8.2 percent in December from $1.58 million to $1.45 million, year over year.

One luxury condominium sold for December in Denver went for about $2.1 million. For December 2009, average high-end condo sold price for three was $1.8 million.

Overall luxury home sales for 2010 for $1 million or more homes sales, including condos and houses, climbed to about 11.6 percent to 528 homes from 473. Sales volume for luxury homes for last year rose as well, about 9.5 percent from $740.6 million to $810.9 million.

The highest December home sale was $3.1 million.

From other important luxury home sales data from the recent report includes the total December sales volume for condos and houses has dropped by about 25 percent.

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