We have tons to cover in this week’s update on the Central Park real estate market! New listings, under contract homes, sold deals, an amazing coming soon Parkwood, and several market updates as we roll into the new year.
Before we jump into real estate we have one public service announcement for the parents of Central Park. It’s only January, but it’s time to plan ahead for summer camps for the kids! So many camps, which one to do? Ashley Faller from our team just put together a helpful blog post titled “Your 2022 Guide to Central Park Denver Summer Camps” that includes a downloadable PDF full of info on all the camp options. It could be a huge time saver for you and it may open your eyes to some options you may not have considered. Value this type of free local info? Sign up for the Scoop and we’ll email you the latest posts in one email every other Friday.
On to the real estate…
We have buyers but we need homes for them! I wanted to let you know our team is working with over 30 active buyers in Central Park right now & we’re on the hunt for homes that fit their needs! Here is a recent Facebook post we did showing you what these 30 buyers are looking for right now, just in case you have a home you’d like to sell that fits the bill. If so we’d love to chat. (My contact info is at the end of this post.)
Why do we have 30+ buyers right now searching for homes in Central Park? Because there is a historic inventory shortage going on right now! Here are two real estate market updates that can help get you up to speed on this trend as well as others in the market:
Focus Real Estate 2022 Real Estate Market Update – This is the market update if you’d like to see the main trends we’re seeing in the local market and you’re mostly focused on the Central Park neighborhood.
DMAR_MarketTrendsReport_January2022_FINAL – This is the market report if you’re into numbers and you want to geek out on a bunch of data and trends about the Denver market as a whole. Tons of great graphs and visuals that will give you the lay of the land.
3 Quick take-aways from the DMAR Report I found interesting:
- Rents went up 17.7% in Denver in 2021. So as home prices have increased dramatically so have rents, making affordability a real issue for many people.
- Denver had 1,477 homes actively listed for sale at year end. What’s the average number of listings for that time of year? 12,652! The inventory numbers are drastically lower than what is needed to meet buyer demand.
- Homeowners may want to check to make sure the insurance they have on their homes is sufficient if it had to be rebuilt due to a disaster. Unfortunately 991 homes burned in the Marshall fire and we’ve read that some homeowners may not have had enough insurance to rebuild given the cost increases in the building industry lately. (It may be time to just check in with your insurance agent!)
This week there were 11 new total listings that hit the market in Central Park. Hopefully this is the start of a trend of more inventory coming on-line. As a team we have 10 Central Park listings coming in February that we know of so far. So hopefully that’s a sign that buyers will have some more options soon!
So what’s new this week? Here are a few of our favorites:
Ok this one isn’t officially listed yet, but it just hit the market as a “coming soon” and it will be available starting on or around 1/28. (Interior pics coming soon too!) Listed by our own Mariel Ross from Focus Real Estate, this stunning 5 bedroom, 4.5 bath Parkwood home is situated perfectly on an oversized corner lot in the North End neighborhood a block from F54 pool and park! Walk to the pool, park, basketball courts, rock climbing playground and future pump track!
So much to love on this one. The state-of-the-art chef’s kitchen showcases a gorgeous 12′ quartz island, cast iron farmhouse sink, convection double ovens, 6 burner gas range with a pot filler, 48″ built-in fridge, SS appliances, walk-in pantry and soft close drawers. In addition to high end finishes like those, buyers are also going to appreciate the 10 foot ceilings, the open concept main level, the two office/flex spaces, the finished basement, the 3 car garage and the truly spacious backyard!
Asking price is $1,395,000. For more information or to set up a private showing please contact Mariel Ross at (720) 320-3536. Matterport tour & more coming soon.
Listed by Stacy Neir of the Neir Team with Kentwood Real Estate for $1,550,000, this large Infinity “Haus” home is situated on a larger lot directly across from Cottonwood Gallery Park with mountain views! The home has a contemporary farmhouse chic style and buyers will love the 25 ft soaring ceilings, wide plank flooring, reclaimed wood wall surrounding the fireplace, high end kitchen appliances, loft, gym and finished basement. This is a large home (7 beds!) with way too many features to cover in this short blurb. If you’re looking for a large Infinity home this one is definitely worth a look. We don’t expect it will last long. Want more info on this one? Stacy has provided more photos & several videos to give you a great sense of what the home has to offer. If you like what you see and you’re not working with an agent we’d love to show you the home.
Bright, west-facing, 3-bedroom plus loft, main floor office and unfinished basement paired home in Bluff Lake; just a few blocks away from Isabella Bird Community School and the Bluff Lake Nature Center! Short bike ride to Stanley Marketplace or the Eastbridge Town Center. Listed by Mariel Ross from Focus Real Estate, this home is located on a charming courtyard and features an inviting covered front porch, lots of natural light, an open layout, a home office, 3 bedrooms upstairs and a loft! Want to check it out? Our team will be at an open house there Saturday, January 22nd from 1:00 – 3:00pm.
This week 3 homes went under contract in the neighborhood. From what we’re hearing and seeing with own listings, well priced homes are ending up in bidding wars and typically going over asking price. So it’s early, but so far in 2022 it’s more of the same… a strong seller’s market driven by historically low inventory.
Not finding what you want in the resale market? There are still some new build opportunities in the North End area of Central Park that don’t involve bidding wars! Remaining builders include Infinity, Parkwood, David Weekley, Wonderland and Brookfield Residential. Interested? Grab our North End Builder Cheat Sheet to zone in on which builders could be the best fit for you based on price, size, and more.
There were 6 homes that sold and closed in the neighborhood this week. You can check those out in the link above.
There are just 14 active listings on the market in Central Park at the moment. Like we mentioned above, inventory is still really low!
Not ready to buy a home yet and looking for a rental? There are actually 7 actively listed rentals in Central Park right now which is more than usual. Check those out in the link above.
That’s it for this week’s update. Hopefully these weekly market updates are valuable. We know we enjoy putting them together and it helps us keep our finger on the pulse of the market for our clients. If you know someone making a move soon please forward it their way! And if we can be of service please feel free to reach out, my contact info is below the post.
**Focus sells homes for a 2.0 % listing commission. Neighborhood experts, flexible commissions to fit the situation.**
Our Friday real estate updates are meant to be a “roundup” type post where we discuss all listings in Central Park, not just our own. It’s our way of making sure we follow the market closely and we share it with the Scoop readers because we know many of you like to track real estate in the area as well. Many of the listings in these posts are not our company’s listings and we wanted to mention that here to make sure it’s clear. Thanks for reading the Scoop!