High-end homes slump in August ? Nancy Woodson Cpa/Metro ...

This 10,618-square-foot home with 6 bedrooms and 9 baths on 2.28 acres in Cherry Hills, in August sold for $2.65 million.

The Denver-area high-end housing market took a breather in August.

?And then some,? said independent broker Gary Bauer, who today released a report analyzing sales of homes last month that cost at least $1 million
each.

On Wednesday, Coldwell Banker Residential released its own luxury housing report that showed the same trend as Bauer?s report, but a different numbers of
sales.

?It?s the trend that is important, not the data points,? Bauer said. Bauer?s report, using Metrolist information, found there were a total of 45
luxury single-family homes and condos that closed last month, down 23.7 percent from the 59 in August 2010.

The total dollar volume for luxury homes last month was $67.6 million, down 21.5 percent from the $86.08 million in sales in August 2010.

On a month-to-month basis, August fared even poorer. There were 39 sales in single-family homes in August, a 44.2 percent drop from the 63 in July. August?s
dollar volume of $59.7 million fell 44.2 percent from $107 million in July.

Also, the sale of luxury single-family homes last month accounted for 4.2 percent of the supply of 921 homes in that nose-bleed price range, while sales
accounted for 6.9 percent and 4.5 percent of the inventory of luxury homes in July and August 2010, respectively.

As for luxury condos, the number of sales and the inventory are both smaller than for single-family homes. The six condo sales sales last month accounted for
6.5 percent of the 92 homes priced on that market. A year earlier, the four condo sales accounted for only 3.4 percent of the 188 units on the market priced
at $1 million or more. Five of the condo sales last month were in Denver and one was in Boulder County.

Bauer said that one reason that the condo market may be better by that measure is because as baby boomers down-size and move into expensive downtown
Denver condos, those individual sales can make a big impact on percentage changes, because so few units trade hands. For example, only one luxury condo sold in July.

As far as single-family home sales, last month 12 were in Denver; 10 in Boulder County; seven in Arapahoe County; five were in Jefferson County; four were in Douglas County; and one was in Broomfield. The most expensive home sold for $3.5 million.

Source: http://nancywoodson.wordpress.com/2011/10/08/high-end-homes-slump-in-august/

med metric conversion chart metric conversion chart definition definition chichen itza dts