November 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.
Like the leaves, the market is changing.
November 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
863 South Williams in East Wash Park reflects how the market has changed. It is now on the market at $2.35 million.
The home is beautiful, a 3,500-square-foot, two blocks from the park. My favorite current home in East Wash Park, it has a casual, sophisticated feeling, with lots of wood accents.
I represented the previous sellers when it sold April 2021. We closed on April 16. The home sold for $2.1 million, $300,000 more than list price. We had multiple offers, several all cash with quick closes. We went under contract five days after listing.
Fast forward to this year, the same home is now listed at $2.35 million on November 11 and has received two offers, both contingent upon the sale of the buyers’ existing homes.
863 South Williams Street.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 5 | -69% | -68.8% |
| Closed Sales | 8 | 33.3% | -11.1% |
| Closed Average Price | $2,750,832 | 22.3% | 70.4% |
| Sale / List (Median) | 97% | -3.0% | -5.8% |
| Median Price Per Square Foot | $551 | -13.4% | 16.5% |
West Washington Park
There are a few little gems available in West Wash Park right now, 445 South Emerson Street, a four-bed, two-bath listed at $1.2 million, being one of them. I love this fully renovated bungalow with a walk-out basement and three-car garage. The price is a little steep, but with buyers hard to come by in this market, any smart seller will negotiate price.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 2 | -88.2% | -75.0% |
| Closed Sales | 7 | -22.2% | -61.1% |
| Closed Average Price | $1,164,286 | 4.5% | 27.9% |
| Sale / List (Median) | 95% | -1.0% | -5.0% |
| Median Price Per Square Foot | $452 | 1.1% | 1.6% |
Cory-Merrill
1356 South Milwaukee provides a good example of what’s happening in Cory-Merrill now. The price started at $1.275 million when it went on the market on October 12; the sellers dropped the price to $1.095 million on October 26 and it went under contract on November 7.
It’s a cute bungalow in good condition on a nice lot. A home like this would typically fly off the market, but it didn’t. Didn’t fly off the market. Buyers are just not displaying a lot of urgency. They’re weighing their options, taking longer to make offers.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 7 | -36.4% | 0.0% |
| Closed Sales | 8 | 100.0% | 33.3% |
| Closed Average Price | $1,512,880 | 83.7% | -1.0% |
| Sale / List (Median) | 93% | -5.1% | -7.9% |
| Median Price Per Square Foot | $433 | -14.93% | 3.8% |
Bonnie Brae
The new construction home at 1029 S Cove Way, listed for $2.85 million, represents one of the first homes by newer Denver builder TJH. TJH came to the Denver market about two years ago and started buying lots. They own over 100 lots in the metro now and their homes are just now hitting the market. The performance of this listing will reveal how the market will respond to this builder’s style and design.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 2 | -60.00% | -71.4% |
| Closed Sales | 4 | 100.0% | -42.9% |
| Closed Average Price | $2,177,500 | -9.9% | 39.7% |
| Sale / List (Median) | 97% | 3.2% | -4.9% |
| Median Price Per Square Foot | $561 | -3.8% | 29.9% |
Congress Park
617 Detroit Street, a 4,000-square-foot home listed for $995,000, would have been a hot investor purchase just a few months ago. But with rising interest rates and a cooling market, the investor world is slowing down. Builders and developers are looking more carefully at what they to take on. This home went under contract in five days, but many of those like it, I am seeing taking longer to sell.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 5 | -37.5% | 0.00% |
| Closed Sales | 3 | -72.7% | -25.0% |
| Closed Average Price | $1,714,575 | 63.0% | 80.1% |
| Sale / List (Median) | 100% | 3.1% | -4.8% |
| Median Price Per Square Foot | $503 | 33.1% | 24.2% |