May 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 is showing pre-summer scarcity in pretty much all of the key real estate data available. In many ways, the market is stalling based on low inventory stemming, in large part, from homeowners reluctant to move because they have locked in low rates.
May 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
I am honored to feature this month’s representative home for East Wash Park — 1235 South York Street — a fantastic, six-bed, seven-bath masterpiece renovated by Milwaukee Modern. Listed at 3.88 million, it went under contract just five days after hitting the market on May 13. I love the home’s transitional style, wide floor plan and its four beds and baths on the upper level — a hard-to-find feature in homes in this neighborhood.
| Stat | April | % Change (M/M) | % Change (Y/Y) |
| New Listings | 10 | -44% | -56.5% |
| Closed Sales | 4 | -42.9% | -75.0% |
| Closed Average Price | $2,174,623 | 14.7% | 9.8% |
| Sale / List (Median) | 97% | -3.0% | -10% |
| Median Price Per Square Foot | $548 | 0.4% | -0.4% |
1235 South York Street
West Washington Park
Like many Denver areas, activity is down in West Wash Park, from a month ago, and a year ago. The six sales in April represent a 14.3% drop from March and a 64.7% drop from April 2022. Homes sold in April also commanded a lower median price per square foot, down 28.1% and 20.3% from a month and year ago, respectively.
| Stat | April | % Change (M/M) | % Change (Y/Y) |
| New Listings | 9 | -30.8% | -60.9% |
| Closed Sales | 6 | -14.3% | -64.7% |
| Closed Average Price | $1,012,500 | -20.7% | 10.6% |
| Sale / List (Median) | 101% | 0.0% | -6.5% |
| Median Price Per Square Foot | $429 | -28.1% | -20.3% |
One home that did well, however, was 1100 South Emerson Street, a recently remodeled five-bed, four-bath listing, which sold on May 5 for $1.725 million, a good bit above its $1.598 million list price. That price represents a price per square foot of $554 and a record price for Emerson Street. An open floor plan, Juliette balcony and walk-out basement helped separate this home from the crowd.
Cory-Merrill
Cory-Merrill saw a bit of activity in April with 11 listings, a jump from both the month and year previous. One of the standout recent listings is 1074 South Cook Street, a new construction home that displayed a nice blend of architecture and design that sold on April 28for $2.995 million by a milehimodern colleague.
| Stat | April | % Change (M/M) | % Change (Y/Y) |
| New Listings | 11 | 83.3% | 10.0% |
| Closed Sales | 4 | 33.3% | -55.6% |
| Closed Average Price | $1,723,750 | 110.6% | -12.1% |
| Sale / List (Median) | 93% | -3% | -10.6% |
| Median Price Per Square Foot | $447 | 6.43% | -3.9% |
1074 South Cook Street
Bonnie Brae
Bonnie Brae, as the smallest neighborhood of the ones tracked in this report, typically has fewer sells each month than the other areas. A recent listing that stands out — 815 South Medea Way, a six-bed, seven-bath beauty listed at $3.875 million — caught my eye. Wow, a show-stopping home, which went under contract in just six days on the market. It’s a newer-construction home that the current owners outfitted with full home automation. It’s also one of the few residential homes that has LEED certification — a truly dreamy home.
| Stat | April | % Change (M/M) | % Change (Y/Y) |
| New Listings | 6 | 20.00% | 100.0% |
| Closed Sales | 3 | N/A | -57.1% |
| Closed Average Price | $1,455,000 | N/A | -36.6% |
| Sale / List (Median) | 94% | N/A | -13.8% |
| Median Price Per Square Foot | $505 | N/A | 2.6% |
815 South Medea Way
Congress Park
The classy red-brick bungalow at 640 Clayton Street is walking distance to Cherry Creek North, in the highly ranked Bromwell Elementary School district and features exposed brick — need I say more? The home went on the market on May 19 at $1.649 million, and I don’t expect it to stay long.
| Stat | April | % Change (M/M) | % Change (Y/Y) |
| New Listings | 7 | 0.0% | -69.57% |
| Closed Sales | 4 | -33.3% | -77.8% |
| Closed Average Price | $1,451,750 | 21.4% | 51.0% |
| Sale / List (Median) | 108% | 4.9% | -0.9% |
| Median Price Per Square Foot | $479 | 1.3% | -4.2% |