September 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 market has experienced a somewhat surprising fall uptick. Read on to see what that means for Denver neighborhoods.
In particular, there are a lot of listings coming online in the luxury market — homes priced between $2 and $4 million. New construction is coming online. Buyers in this price range now have many options.
September 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
891 S York Street stands out in East Wash Park. It was on the market in spring and took awhile to sell. It finally sold at $3.715 million. But these buyers had a change of heart and put it back on the market at same price, and, surprisingly, it went under contract immediately, in under 2 days. It’s extremely rare for buyers to immediately resale a property, and even more so to see such a drastic change in sale speed.
Another listing, a new-construction build at 1111 Gilpin Street reveals how the market still shows some heat. Listed at $4.15 million, it went under contract in a week.
| Stat | August | % Change (M/M) | % Change (Y/Y) |
| New Listings | 5 | -29% | -66.7% |
| Closed Sales | 4 | -60.0% | -80.0% |
| Closed Average Price | $2,108,750 | 14.4% | 40.0% |
| Sale / List (Median) | 100% | -2.0% | 0.0% |
| Median Price Per Square Foot | $586 | 7.1% | 9.5% |
West Washington Park
The deal in the last month that stands out in West Wash Park involves 1003 S Corona, which recently went under contract at $1.545 million, which represents $613 per square foot, on the high end for the neighborhood. The interesting thing about this sale is that the home was actually off the market — it had gone active on July 28 and then withdrawn on August 11. A careful agent dug this one up for their client — another reason to use an experienced, diligent real estate agent.
| Stat | August | % Change (M/M) | % Change (Y/Y) |
| New Listings | 14 | 7.7% | 27.3% |
| Closed Sales | 15 | 36.4% | -11.8% |
| Closed Average Price | $1,155,267 | -6.4% | 22.1% |
| Sale / List (Median) | 100% | 1.0% | -2.0% |
| Median Price Per Square Foot | $463 | -7.4% | 8.7% |
Cory-Merrill
1510 S Clayton Street, a new build by reputed Denver builder Chase Custom Home, recently sold for $2.795 million. That’s a huge number for Cory-Merrill, but the builder’s reputation is so high that their homes fetch top dollar.
| Stat | August | % Change (M/M) | % Change (Y/Y) |
| New Listings | 11 | 175.0% | 37.5% |
| Closed Sales | 3 | -62.5% | -72.7% |
| Closed Average Price | $1,210,000 | -23.1% | -11.8% |
| Sale / List (Median) | 98% | 0.0% | -3.0% |
| Median Price Per Square Foot | $452 | 5.61% | 13.3% |
Bonnie Brae
A recent sale in Bonnie Brae at 725 S Cove Way epitomizes the classic real estate axiom — it’s good to get into a valuable neighborhood on the lower price end if you can. This home, a three-bed, three-bath, 2,338-square-foot bungalow sold for $1.275 million, which represents a great purchase price for the hood.
| Stat | August | % Change (M/M) | % Change (Y/Y) |
| New Listings | 4 | 300.00% | 33.3% |
| Closed Sales | 5 | 150.0% | 25.0% |
| Closed Average Price | $1,873,000 | -35.1% | 86.1% |
| Sale / List (Median) | 95% | -3.1% | -7.8% |
| Median Price Per Square Foot | $594 | 10.8% | 23.8% |
Congress Park
780 Columbine Street, a three-bed, four-bath, great-location home, went under contract in under 48 hours, listed at $2.35 million. Part of this home’s charm involves its proximity to great amenities, such as the Denver Botanic Gardens, just a short walk away.
| Stat | August | % Change (M/M) | % Change (Y/Y) |
| New Listings | 9 | 12.5% | 28.57% |
| Closed Sales | 6 | -40.0% | -64.7% |
| Closed Average Price | $952,667 | -16.5% | 2.3% |
| Sale / List (Median) | 100% | 4.2% | -1.0% |
| Median Price Per Square Foot | $380 | 6.7% | -0.5% |