February 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 increases, home prices have begun to drop in the Denver metro in recent months.
February 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
Our wonderful listing at 474 South Vine Street, listed at $1.945 million, is under contract and accepting backup offers.
474 South Vine Street.
Milwaukee Development, the central Denver neighborhood real estate developer I exclusively represent — has a property coming soon on South Gilpin Street in East Wash Park. We expect it to hit the market in early April. I love this house. Reach out to get get notified as soon as we have more details.
| Stat | January | % Change (M/M) | % Change (Y/Y) |
| New Listings | 7 | 40% | 250.0% |
| Closed Sales | 4 | -20.0% | -20.0% |
| Closed Average Price | $2,134,375 | 25.0% | 73.4% |
| Sale / List (Median) | 93% | -7.0% | -8.8% |
| Median Price Per Square Foot | $436 | -8.0% | -7.6% |
West Washington Park
The half duplex duplex at 750 South Clarkson street under contract, listed at $1.825 million is a recent listing that stands out in West Wash Park. The neighborhood does not have many duplexes, which represent less than 10 percent of the homes in the neighborhood.
| Stat | January | % Change (M/M) | % Change (Y/Y) |
| New Listings | 7 | 133.3% | -12.5% |
| Closed Sales | 4 | -50.0% | -20.0% |
| Closed Average Price | $967,500 | -19.8% | -21.4% |
| Sale / List (Median) | 100% | 11.1% | -2.0% |
| Median Price Per Square Foot | $402 | -1.2% | -14.8% |
Cory-Merrill
Builder Spencer Chase, who owns Chase Custom Homes, lives in Cory-Merrill. And he has built an amazing house in his (and my!) home neighborhood at 1317 South Milwaukee Street. I love this house!
Spencer thinks outside the box — he never builds the same house twice. Some of the features that stand out on this five-bed, five-bath masterpiece are the herringbone wood front door, alluring green barn doors that open to an office off the living room, and the custom chandelier over the kitchen table. It has its own personality, which is what I love about his homes. Listed at $2.595 million, the home went under contract on February 11.
| Stat | January | % Change (M/M) | % Change (Y/Y) |
| New Listings | 5 | 25.0% | -28.6% |
| Closed Sales | 7 | 133.3% | 75.0% |
| Closed Average Price | $1,547,714 | 28.3% | 35.8% |
| Sale / List (Median) | 89% | 5% | -17.6% |
| Median Price Per Square Foot | $433 | -4.20% | -14.8% |
Bonnie Brae
The home at 1101 South Clayton Street, which sold for $2 million on January 5, represents a great buy for Bonnie Brae. That’s a great price for a 5,230-square-f00t home in the neighborhood. This goes to show that buyers can find good deals in the current fluctuating market of Denver
| Stat | January | % Change (M/M) | % Change (Y/Y) |
| New Listings | 3 | 200.0% | 200.0% |
| Closed Sales | 2 | 0.0% | 100.0% |
| Closed Average Price | $864,470 | -44.7% | -29.4% |
| Sale / List (Median) | 97% | 2.1% | -12.6% |
| Median Price Per Square Foot | $420 | -9.5% | -23.4% |
Congress Park
The home at 941 Fillmore Street, listed at $750,000 and currently under contract, represents some of the best a Congress Park location has to offer. The home feeds into the coveted public high school East High School and provides walking access to amenities on 12th Avenue — such as the wonderful Blue Pan Pizza and Downpours Coffee — and to Cherry Creek.
| Stat | January | % Change (M/M) | % Change (Y/Y) |
| New Listings | 5 | 25.0% | -28.6% |
| Closed Sales | 5 | -54.5% | 150.0% |
| Closed Average Price | $737,780 | -28.6% | -29.2% |
| Sale / List (Median) | 86% | -5.5% | -10.4% |
| Median Price Per Square Foot | $316 | -9.5% | -8.1% |