November core Denver neighborhood market report
This report analyzes the 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 real estate market is becoming increasingly complex. The market data suggests a normalizing market, but I can tell you, things are anything but normal. They’re as nuanced and charged as I’ve seen since launching my real estate career over a decade ago.
November Denver neighborhood market report
Because so much of my business centers on this area, I wanted 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
East Wash Park is in demand. And sellers, and developers, know it. The number of new listings in October jumped 100 percent from October 2020 to 16, which also represented a 77.8 percent lift from September. The median close price of nearly $1.4 million represents a new normal for the neighborhood as the median price per square foot has begun to hover around $500. This is one of Denver’s premier central neighborhoods and the numbers show it.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 16 | 77.8% | 100.0% |
| Closed Sales | 9 | -35.7% | -57.1% |
| Closed Median Price | $1,357,000 | 5.8% | -6.4% |
| Sale / List (Median) | 103% | 1.0% | 4.0% |
| Median Price Per Square Foot | $473 | -6.5% | 4.9% |
West Washington Park
West Wash Park is also seeing increased demand, spurred, like East Wash Park, by proximity to downtown and the great park. This translated to a 29.1 percent year-over-year closed median price jump to $865,000 on 18 sales in October. Like its sibling to the east, the median price per square foot is creeping up; the $445 mark in October represented a 21.9 percent increase from a year ago and 11.5 percent jump from September.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 8 | -55.6% | -20.0% |
| Closed Sales | 18 | 125.0% | -5.3% |
| Closed Median Price | $865,000 | -1.1% | 29.1% |
| Sale / List (Median) | 100% | -2.0% | 0.0% |
| Median Price Per Square Foot | $445 | 11.5% | 21.9% |
Cory-Merrill
New listings in Cory-Merrill have remained fairly steady over the last four months with October clocking in at seven. The number of monthly closed sales have hovered from 6 to 11 in that time span. Once the hidden gem of central Denver neighborhoods, Cory-Merrill, with an October median close price of over $1.6 million is quickly becoming an elite central neighborhood.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 7 | 0.0% | 75.0% |
| Closed Sales | 6 | -33.3% | -57.1% |
| Closed Median Price | $1,627,500 | 141.1% | 27.3% |
| Sale / List (Median) | 101% | -2.9% | 4.1% |
| Median Price Per Square Foot | $417 | 24.5% | 27.5% |
Bonnie Brae
Sales are less frequent in small Bonnie Brae, but October brought seven closed sales, along with seven new listings. Prices are creeping up in this neighborhood, too, with the closed median price at $1.4 million in October.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 7 | 0.0% | 133.3% |
| Closed Sales | 7 | 600.0% | -36.4% |
| Closed Median Price | $1,400,000 | 57.3% | -33.6% |
| Sale / List (Median) | 102% | -9.7% | 3.0% |
| Median Price Per Square Foot | $432 | 3.6% | 16.4% |
Congress Park
After a fairly active period from July through September, Congress Park activity dipped in October with just four closed sales in the month, over a 60 percent drop from September and from the year previous. With a median close price of $821,250 in October, the neighborhood continues an approach to $1 million area.
| Stat | October | % Change (M/M) | % Change (Y/Y) |
| New Listings | 5 | -64.3% | 25.0% |
| Closed Sales | 4 | -63.6% | -69.2% |
| Closed Median Price | $821,250 | -13.6% | 0.7% |
| Sale / List (Median) | 105% | 1.0% | 4.0% |
| Median Price Per Square Foot | $405 | -10.0% | 14.7% |