According to the latest Denver Metro Real Estate Trend Market Report, accessible below, the average price of a home in the area came in at $434,478 for the month of August 2017. That represents a 2.75 percent decline from the previous month but was more than 8 percent higher than the same time last year. And speaking of higher, the prices for the most expensive home and condo sold in metro Denver last month were absolutely eye-popping.
The photo above captures the view from 466 Houndstooth Court in Highlands Ranch, whose sale was final on August 14. The newly built six-bedroom, nine-bathroom abode measures a mammoth 9,906 square feet and is situated on a 0.53 acre lot. The pitch for the property reads like so:
Extremely rate opportunity to purchase custom home site on most exclusive, private and prestigious cul-de-sac street within the Custom Collection of BackCountry. Home site is just over 1/2 acre in size and is on a street within only 5 homes. Backs to BackCountry's private open space, the South Rim, which abuts additional 8,200 acres of open space. Unobstructed, towering mountain vistas of west and southwest mountain range.
The final price tag, according to the Denver Metro Association of Realtors, which produces the report: $8,116,000.
The priciest condo sold in metro Denver last month, according to the realtors association, was 105 Fillmore Street, #205, which closed on August 31.
The condo/townhouse boasts three bedrooms, one full bathroom, three partial bathrooms, 3,085 square feet of space and a two-car garage.
Here's the description of the pad from its original listing:
The largest Brownstone at North Creek offers luxurious living with an open floor plan and large private patio overlooking the action of Fillmore Plaza. Three bed, four bath total with extraordinary quality throughout. Separate entrance to the lower level provides an opportunity to office at home or a private guest suite with separate entrance along with the same security and concierge service.
The cost? This condo set someone back a cool $2,170,000.
These purchases stand out from other August sales, as the graphic above demonstrates.
Last month, as you can see, 3,604 homes were sold in metro Denver, with another 5,634 listings designated as active — although many of them could be under contract. The same goes for condos: 1,520 of them changed owners in August, while 1,726 officially remain on the market.
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The breakdown of prices contains more surprises — not the least of them is that nine homes and an equal number of condos in Denver sold for less than $100,000. Still, these totals are dwarfed by those in what currently qualify as the median price range. More homes priced between $300,000 and $399,999 sold in August — 1,245 of them — than in any other like classification, with the largest number of condos, 602, going for between $200,000 and $299,999.
At the upper end, 123 homes had a purchase price of more than $1 million in August, and thirteen condos went for at least that much. But there's no shortage of inventory in that category: 1,020 houses and 86 condos are listed in the seven-figure range.
Which means that if money is no object, you'll have plenty of choices to consider. But if you're hoping to spend less than $100K, good luck.
Click to read the complete Denver Market Real Estate Trend Report for September.