April core Denver neighborhood market report
This report analyzes the current real estate activity in a few of my core central Denver neighborhoods, where I do a bunch of my business, and where I experience market changes first hand, daily.
The Denver market has gotten a splash of cool in recent weeks.
Central Denver neighborhoods are among Denver’s most desired.
April Denver neighborhood market report
Because so much of my business centers on this area, I want to dive in to provide readers a better understanding of what’s happening in this extremely popular, unique aspect of the Denver real estate market.
Interested in learning more about these great Denver neighborhoods? Reach out to me at kharris@milehimodern.com
This report covers East Washington Park, West Washington Park, Cory-Merrill (where my family and me live! :)), Bonnie Brae and Congress Park. (This report leaves out Cherry Creek for now).
East Washington Park
East Wash Park has been flirting with the $700-average-price-per-square-foot threshold for months and a recent listing — on Gaylord Street — just hit the market above it. We’re all watching it.
| Stat | March | % Change (M/M) | % Change (Y/Y) |
| New Listings | 22 | -100% | 10.0% |
| Closed Sales | 17 | 466.7% | 6.3% |
| Closed Average Price | $2,067,271 | 12.9% | 13.1% |
| Sale / List (Median) | 104% | 4.0% | 3.0% |
| Median Price Per Square Foot | $601 | -1.6% | 32.4% |
West Washington Park
The same story is happening in West Wash Park, where homes are a bit less expensive and the lots smaller. However, the premium price-per-square-foot pricing is happening here, too.
677 South Washington Street, a few blocks off the park, recently sold for $1.1 million. This represented an average of $567 per square foot. Homes in West Wash Park blocks off the park have not yet attracted sales of over the $550 price-per-square-foot line, but prices are creeping up.
| Stat | March | % Change (M/M) | % Change (Y/Y) |
| New Listings | 17 | 70.0% | 142.9% |
| Closed Sales | 13 | 85.7% | 0.0% |
| Closed Average Price | $1,049,154 | -10.1% | 22.5% |
| Sale / List (Median) | 112% | 8.7% | 13.1% |
| Median Price Per Square Foot | $494 | -10.7% | 35.0% |
Cory-Merrill
Two homes have been listed recently in Cory-Merrill for over $3 million, the first time (we assume one or both will sell at that price) a neighborhood home will sell above that number.
This brings the neighborhood to a new level. It moves the needle.
| Stat | March | % Change (M/M) | % Change (Y/Y) |
| New Listings | 10 | 25.0% | 42.9% |
| Closed Sales | 9 | 80.0% | -18.2% |
| Closed Average Price | $1,426,149 | 25.2% | 22.2% |
| Sale / List (Median) | 110% | 10.0% | 0.9% |
| Median Price Per Square Foot | $478 | 25.5% | 39.0% |
Bonnie Brae
Bonnie Brae, too, is breaking records.
A new construction home at 1001 South Clayton, built by the renowned Denver builder Thomas James Homes is under contract at over $738 per square foot, a record for the neighborhood.
| Stat | March | % Change (M/M) | % Change (Y/Y) |
| New Listings | 7 | 0.75 | 75.0% |
| Closed Sales | 4 | 33.3% | -20.0% |
| Closed Average Price | $2,562,500 | 214.4% | 47.9% |
| Sale / List (Median) | 110% | 14.6% | 5.8% |
| Median Price Per Square Foot | $665 | 282.2% | 56.1% |
Congress Park
Congress Park continues its recent upward movement. The closed average sale price for neighborhood homes rose 21.4 percent from a year ago in March to $1.056 million.
1226 Detroit Street, listed for $1.6 million, is set to sell at over $300,000 over asking with multiple offers — Denver market heat still exists.
| Stat | March | % Change (M/M) | % Change (Y/Y) |
| New Listings | 14 | 75.0% | 0.00% |
| Closed Sales | 6 | 20.0% | -14.3% |
| Closed Average Price | $1,056,217 | -7.3% | 21.4% |
| Sale / List (Median) | 104% | 4.0% | 1.0% |
| Median Price Per Square Foot | $423 | 11.0% | 10.2% |