Sales of single family homes in Denver worth $1 million or more increase in September

Forty-seven homes including 42 single-family homes and five condos sold in September in the Denver metropolitan area for $1 million or higher, according to real-estate analyst Gary Bauer.

Bauer said that more single-family homes were sold in September 2011 than September 2010 – 395 versus 385.

Likewise, more condos sold in September 2011 than September 2010 – 31 versus 23.

Bauer said of the 42 single-family homes sold in September, the highest price was for a 9,694 square foot home with four bedrooms and seven baths. It sold for $3.8 million.

The average selling price in September for single-family homes in the $1 million or more category was $1,478,593.

The active inventory for single-family at the end of September was 799 units and 84 condo units.

Bauer said that of the 395 single-family homes sold so far this year, the highest price was $8.2 million for a 12,298 square foot home with five bedrooms and nine bathrooms.

Of the 31 condos sold this year, the largest amount paid was $2.47 million for a 2,691 square foot three bedroom and three bathroom condo.

The inventory of the high-priced homes showed a decline of 32 percent, from 1,174 homes in September 2010 to 799 in September 2011.

However, the average price for homes remained the same at $1.5 million for September 2010 and September 2011.

As far as condo, active inventory in September 2011 was 84 versus 115 a year earlier, or a decrease of 27 percent.

The luxury real estate market in Denver is booming right now!