At the risk of sounding like a broken record, we have much of the same in our real estate update this week. Low inventory? Check. Great time to sell? Check. Buyers in bidding wars? Check. While inventory is very low, we saw a record number of new listings in the month of October (2022 listings). In fact, the Denver real estate market set 22 records in the month of October which, in any other year, would be a slower month. Here’s a quick summary:
- Lowest number of active residential listings in the month of October (previous record set in 2016)
- Highest median close price on record at $475,000
- Highest average close price on record at $561,999
- Lowest median days in MLS in October at 6 days (previous record set in 2015)
- Lowest average days in MLS in October at 24 days (previous record set in 2015)
- 5,984 residential properties closed last month; a new October record
- 6,141 residential properties pending last month; a new October record
- Highest October sales volume at $3,363,002,016 (4th highest month of all time)
You can see the rest of the records setting numbers in this brief summary from the Denver Metro Association of Realtors.
So, what’s happening here in Central Park? It seems the city and county of Denver have approved more plans for the second phase of North End sparking more new build action. KB Homes is opening their paired home Villa collection today. The homes offer 2-5 bedrooms, finished or unfinished basements and attached 2 car garages. Plan pricing starts at $452,000. For more information, check out this post and Facebook Live tour by Ashley Faller.
Thrive Home Builders has started contracting on the first of a series of lot releases. The two plans offer 3-5 bedrooms, unfinished or finished basements and 2-3 car attached garages. Base pricing starts at $708,900. See what our team loves about these homes in this post and Facebook Live video by Joe Phillips.
We expect to see new lot releases from Infinity, Parkwood, Lennar, David Weekley, Wonderland & Brookfield over the next couple of months. To get the latest updates, sign up to receive our North End Builder Cheat Sheet Here.
And finally, onto the Central Park Listings.
5493 Valentia St is a 2 bed, 2.5 bath townhome w/ a detached 2-car garage on a quiet greenway in the Willow Park East neighborhood of Central Park. Large windows and vaulted ceilings let in tons of natural light while a balcony off the master bedroom and a beautiful backyard with stamped concrete patio and turf lawn provide multiple ways to enjoy the outdoors year-round. Enjoy plenty of storage space in the unfinished basement or add a bedroom, bathroom, rec room, office, exercise space or playroom by finishing the space to suit your needs. Listed for $537,900 by Audrey Hellner of Morton Properties of Denver.
One home is currently listed as coming soon. The Denver Square – esque home is located in the heart of Eastbridge about ½ block from the F-15 Park and Pool.
11 properties went under contract this week. 4 were located north of I-70 and 7 were south. Prices ranged from $559,000 to $850,000
17 properties closed this week. All but 2 were south of I-70 and prices ranged from $318,000 to $1,225,000
There are 26 properties currently on the market in Central Park. They range in price from an income-qualified property for $271,000 to a large single-family home in Central Park North for $975,000. One listed we thought was worth a closer look:
9083 E 36th Ave offers 4 bedrooms, 3.5 bathrooms, a finished basement, lovely yard & an attached 2 car garage. Perhaps the best feature of this home is the location. Situated across the street and a couple doors down from the Jet Stream pool in the quiet Central Park North neighborhood. Easy access to Sprouts Farmers Market, light rail, the Rec Center and 80 acre Central Park. Listed for $765,000 by Kathy O’Donnell Gibson with The Denver Home Company.
There are 10 properties listed for rent at the moment.
Hope you find value in these weekly real estate updates. Let us know if there’s ever a topic you’d like more info on. If you’re in the market to buy a home, or you’re ready to take advantage of this hot market and sell your home, I’d love to help. At Focus Real Estate, we offer reduced commission rates while providing full brokerage services and neighborhood expertise. Find out more by visiting our website or email me at firstname.lastname@example.org. Have a great weekend everyone.
Disclaimer: 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!