December 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.
After years of relative scarcity, the inventory of Denver homes for sale is beginning to fill.
December 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
A great milehimodern listing at 964 South York Street is a good example of what’s happening in the neighborhood. The home listed on December 1 for $2.095 million and was under contract by December 5. This was priced about right.
By comparison, 863 South Williams Street, which listed for $2.35 million on November 10 and went under contract by November 20, was priced $300,000 under the nearest comp, but the sellers are owner-occupants and they found a number they were good with.
We’re seeing this variability some in the market now — some sellers stand happy with a number in this market, and are ready to move on.
964 South York Street
| Stat | November | % Change (M/M) | % Change (Y/Y) |
| New Listings | 6 | 20% | -40.0% |
| Closed Sales | 9 | 12.5% | -40.0% |
| Closed Average Price | $1,682,600 | -38.8% | 13.0% |
| Sale / List (Median) | 91% | -6.2% | -11.7% |
| Median Price Per Square Foot | $492 | -10.7% | -3.7% |
West Washington Park
I spoke to a colleague yesterday who listed 993 South Ogden for $850,000. It has no garage, but had great demand. It had 18 showings in 48 hours and is now under contract — a much higher number than what we’re seeing in the market now. The appeal, though, is for a decent home in the neighborhood priced at under $900,000.
| Stat | November | % Change (M/M) | % Change (Y/Y) |
| New Listings | 4 | 100.0% | -42.9% |
| Closed Sales | 9 | 28.6% | -50.0% |
| Closed Average Price | $888,167 | -23.7% | -5.1% |
| Sale / List (Median) | 96% | 1.1% | -4.0% |
| Median Price Per Square Foot | $442 | -2.2% | 8.3% |
Cory-Merrill
The home at 1624 South Monroe Street reveals what’s happening in Cory-Merrill. The house was built in 2005 and the homeowners have made great updates over the years, it’s obvious. See the navy cabinets in the kitchen. It exhibits a practical, cozy, whimsical style throughout.
Priced well at $2.05 million, the home hit the market on December 1 and went under contract on December 8.
1624 South Monroe Street
| Stat | November | % Change (M/M) | % Change (Y/Y) |
| New Listings | 2 | -71.4% | -33.3% |
| Closed Sales | 5 | -37.5% | -16.7% |
| Closed Average Price | $1,845,697 | 22.0% | 164.9% |
| Sale / List (Median) | 99% | 6% | 6.5% |
| Median Price Per Square Foot | $461 | 6.47% | 16.4% |
Bonnie Brae
Bonnie Brae has been quiet with just three closed sales in November. 1029 South Cove Way stands out. The sellers are offering $100,000 off the $2.795 million list price for offers received between now and and the end of the year. First listed on November 10, it’s a new-construction home in a good location, so I’m watching to see how it performs.
| Stat | November | % Change (M/M) | % Change (Y/Y) |
| New Listings | 2 | 0.00% | -33.3% |
| Closed Sales | 3 | -25.0% | -72.7% |
| Closed Average Price | $2,377,333 | 9.2% | 49.6% |
| Sale / List (Median) | 91% | -6.2% | -9.0% |
| Median Price Per Square Foot | $528 | -5.9% | 12.3% |
Congress Park
The lovely listing at 1355 Adams Street in Congress Park went under contract on December 6 after listing for $1.297 million on December 1. This home was a flip, but the design on this one stands out, very custom and unique. It had mixed textures and tones, with a little bit of an off-the-beaten-path approach. This goes to show that homes with custom, well-done touches have a timeless appeal.
1355 Adams Street
| Stat | November | % Change (M/M) | % Change (Y/Y) |
| New Listings | 6 | 20.0% | 50.00% |
| Closed Sales | 5 | 66.7% | -58.3% |
| Closed Average Price | $980,800 | -42.8% | 13.4% |
| Sale / List (Median) | 95% | -5.0% | -2.1% |
| Median Price Per Square Foot | $403 | -19.9% | 2.8% |