February real estate outlook for Cherry Creek, Wash Park and beyond 

Denver metro-wide real estate statistics can provide a useful market barometer, but they can hide trends happening in specific neighborhoods (aka micromarkets). You’ve heard it — real estate is local — and that couldn’t be truer in Denver, with its pockets of diverse neighborhoods.

Diving into the stats of the neighborhood you live in or are looking to buy can make a world of difference — also finding a professional with deep local knowledge helps.

My core neighborhoods cover Cherry Creek North, East and South, Wash Park, Belcaro, Bonnie Brae and Cory-Merrill. While geographically related, each ‘hood serves up a different lifestyle and creates its own real estate micromarket.

[7 ways to win in Denver real estate in 2019]

There is a wealth of real estate data out there; choosing the statistics that matter can be difficult. I chose to look at average sold price, active and sold listings and their year-over-year change. I find these tell the most about the markets current status and future trajectory.

If you have any questions about what these numbers mean for your real estate needs, please reach out.
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Cherry Creek North

Avg. sold price — $1,080,175 (+0.4%)

Active listings — 46 (+27.8%)

Sold listings — 133  (+9.9%)

[Recently sold Cherry Creek North homes]

Inventory is on the rise in Cherry Creek North and average sold price is steady. Active listings are up significantly from January 2018, while homes sold saw a more modest increase.

I anticipate this to continue throughout the selling season, but smart sellers with the right listings will still find success in Cherry Creek North.

Cherry Creek East

Avg. sold price — $607,132 (-7.8%)

Active listings — 26 (23.8%)

Sold listings — 69 (-34.3%)

Cherry Creek South

Avg. sold price — $937,033 (+9.1%)

Active listings — 12 (+9.1%)

Sold listings — 63 (+6.8%)

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Wash Park

Avg. sold price — $728,105 (+5.7%)

Active listings — 59 (+3.5%)

Sold listings — 513 (-5%)

[Recently sold Wash Park homes]

Wash Park as a whole will remain a seller’s market in 2019, but action will vary depending on what side of the park you are on.

Wash Park West, with more affordable listings than on the east side, will see a hotter sellers market. Citywide, luxury markets will cool as inventory rises and buyers gain leverage.

Belcaro

Avg. sold price — $2,153,273 (+22.6%)

Active listings — 3 (-25%)

Sold listings — 11 (-8.3%)

Bonnie Brae

Avg. sold price — $1,256,576 (+16%)

Active listings — 13 (+30%)

Sold listings — 60 (+17.6)

Cory-Merrill

Avg. sold price — $907,028 (+4.7%)

Active listings — 17 (-29.2%)

Sold listings — 94 (+17.6%)
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