Denver area sales of luxury homes remained flat year over year.

A luxury home is a property listed over $1 million.  This can include condos as well as homes.

The market showed activity with more sales in March over February.

March luxury Denver home sales ranged from $1 million to $2.6 million with the majority sold in Denver.

Best of all John’s article and report showed that while homes aren’t exactly moving off the shelf, the Denver area market is not slowing down, or collecting homes.  In fact, inventory is decreasing.

For John’s most recently story on Denver luxury real estate visit here on InsideRealEstateNews.

Thirty-six Denver metro homes over $1 mil in March 2011.  While some communities are having trouble keeping up with year over year sales, without the tax credit this is an uptick in the luxury market that did not exist before.  Luxury homes sold in March 2011 were 9% higher than March 2010.

These luxury properties consisted of:

• 36 single family homes
• 3 were for condos

Luxury single family home sales by county:

• Denver, 12
• Arapahoe, 12
• Boulder, 7
• Douglas, 2
• Jefferson, 2

The prices ranged from $1mil-$2.6mil.

Are you interested in Colorado Luxury Real Estate?  COhomefinder has it all listed online including photos and descriptions.  Find the REALTOR from 8z Real Estate in your area who can focus in your luxury home search.

So smart home buyers are presented with an interesting opportunity that accompanies such a phenomenon. Lane calls it hyperlocal buying. I call it real estate locavorism or crossing the price point gap. Here’s how it works.

Say you live in a neighborhood of a few different price points, like the example neighborhood in the graph. The average asking price in 2009 of the homes in the yellow zone is $3M; the homes in the pink zone are at 900; the homes in the purple are in the 600s. Knowing that homes in the sub-650 market are still selling relatively well in Boulder, for example, at closer to asking price than higher end properties, sub-650 home owners can put their properties on the market and stretch their closing times. Knowing that homes above 700 are struggling more, they can make an offer on that next-level home a few streets over at a more lateral price, with vertical benefits in square footage that the buyer is likely to capitalize on later. Because the neighborhood is familiar, there’s none of the pain or expense that accompanies a crosstown or cross-country relocation.

Whatever the numbers are–selling into the 300 market and buying into the 500 one, for example–hyperlocal buying is a new take on the old concept of upward mobility, at a deep discount. It’s selling on one side of the chasm, and buying into the other, without spending the same amount it would have cost you five years ago.

What do you think about hyperlocal buying? Have you experienced any of the benefits or drawbacks of the multi-tiered neighborhood? Comments, as always, are open.

If you find yourself outside the Colorado Front Range, you might want to visit the Healthy Homes Tour and Fair in Avon, CO (in the Vail Valley). The Tour and Fair takes more of a whole-life approach, with ideas, products, and information on how to live sustainably beyond the structure of one’s home.  The fair is free, and so is the transportation, provided by the Town of Avon bus system.

Even while summer is waning, you can still see some great homes in Colorado, as the Denver Tour of Solar Homes takes place on October 9, and is a showcase of what’s new and possible in  the realm of solar living.

Enjoy!

Photo by Flickr–Creative Commons, by pnwra

Dining

• The Organ Grinder pizza had a pipe organ in it, and showed movies on a screen.
• Casa Bonita–still there on Colfax, still awesome (except for the food).
• Jims Burger Haven on Federal in Thornton–the neighborhood has changed, but Jim’s hasn’t.
• The Yum Yum Tree, the Hungry Dutchman, and the Northwoods Inn–all long gone, except for the memories.

Entertainment

• Lakeside Amusement Park opened for its 100th season May 2nd, 2009–Some of the historical homes in Lakeside are being preserved, too.
• Big Mac Arena and Rainbow Music Hall–Replaced by newer, fancier venues with commercial names, no doubt.
• Celebrity Sports Center–Gone since 1994, it was one of Glendale’s more, um, wholesome forms of entertainment.

Shopping

• Villa Italia and Cinderella City–If you’ve ever wanted to live in a mall, now you can. Both of these are now real estate developments and full-fledged communities.

Other

• Cruising Colfax–Although you can probably still do it, you’re going to feel awfully lonely.
• The Daniels & Fisher tower–Still standing, although there’s no more May D&F there. Now the renovated tower hosts offices and lofts, and in the basement you can find Lannie’s Clocktower Cabaret.
• Lowry Air Force Base–Now “Lowry” is a neighborhood and urban community.

Photo courtesy of Shankbone, under the Creative Commons license.

You can find the Parkfield community in the Denver/Commerce City area, which is in the DIA corridor between I-70 and I-76.

Like it? Home owner’s dues are $4032 quarterly, but you’ll be glad for the security gate once the paparazzi come crawling. You’ll find photos and more information on the estate, priced at $17M, at its 20 Cherry HIlls Park Drive listing page.

I guess when Steven Wright said, “You can’t have everything. Where would you put it all?” he’d never been to dinner at Shanahan’s.

If you’ve read the post “Where’s the Bottom,” you may be asking yourself the question, “who cares where the bottom is?” With the prices of Denver homes at low prices, and mortgage rates taking their cue with the nose-diving, the real estate takeoff could begin soon, with influxes of families and folks from all over the US.

If you’re on the fence about buying your first home, or just your next home, it’s worth speaking with a Denver REALTOR, who takes the pulse of the Denver neighborhood markets daily, and can give you valuable, detailed, local information in just a few minutes.  You never know when the best seats on the bandwagon will be taken.  Come on in, while there’s still room for your tuba.

• Garfield
• Lincoln
• Monroe
• Monaco
• Grant
• Madison
• Lafayette
• Downing

You’ll find some of the best of the more than 7,000 Denver homes for sale here.  And here are some tips about what you can find at other Denver street locations.

Where the eats are:
Arapahoe, Wynkoop, Larimer and 16th Street are homes to some of Denver best and most boisterous downtown restaurants.

Where the shows are:
Ogden, Broadway, Fillmore, and Colfax are the little centers of music and arts venues where some of today’s best acts can be seen.

Where the parks are:
Washington (Wash Park), Bellaire Street (Cranmer Park), Franklin Street (Cheeseman Park) Colorado Blvd (City Park), and Saint Paul (Congress Park).

Where the schools are:
Of course, there are lots of them.  But these particular ones were featured in 5280 Magazines “best schools in Denver” edition for 2008.

• Denver School of Science Technology on Valentia Street
• Denver School of the Arts on Montview Blvd.
• Colorado Academy on South Pierce Street
• Bruce Randolph School on Steele Street
• Rocky Mountain School of Expeditionary Learning on South Holly Street
• Wyatt-Edison on Franklin Street
• PS1 Charter School on Delaware Street

What’s There
Near Hilltop is some of Denver’s most renowned restaurants, and is a long-time companion to the arts and culture scene. Today, the face of Hilltop is, like most other places, changing a little.  While many small homes have been razed and rebuilt, or enlarged to accommodate today’s tastes, most of the historical flavor and architecture remains. A few lots are being consumed almost in their entirety by gigantic homes, but the number of these corner-to-corner builds are pretty limited. George Cranmer’s residence, the mayoral home (also known as Cableland), the modern splendor of the Shangi-La mansion, and other nameless, yet spectacular homes.

What’s Nearby
The area is also home to established community landmarks such as Temple Emanuel, Assumption Greek Orthodox, and Epiphany Episcopal.  And because Hilltop is in the center of it all, the neighborhood is within an hour of destinations such as DIA, Boulder, and Colorado Springs.

Who’s There
For now, Hilltop is a mature neighborhood consisting mostly of single residents without children. In fact, the majority of married couples living there are childless ones as well. What turn the neighborhood will take due to these kinds of demographic turns is likely unfolding now too.