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March 24, 2023

This Week in Central Park Real Estate 3.24.23

Brookfield spec home (Tealight series)

The spring buying and selling season is here in Denver! In Denver’s Central Park the winter season tends to be slower on the real estate front, but as the weather warms (knock on wood!) we typically start seeing more listings hit the MLS. Also, more of our buyers emerge from the cold ready to make their next move.

One data point we closely track?

The number of listings in and around Central Park.

Right now there are 37 total resale properties in the MLS in Central Park (34 active listings and 3 “coming soon” listings). This doesn’t include builder listings in Central Park’s North End. So there’s more availability with new construction as well.

As a benchmark, in the past few years we’ve almost touched single digit resale listings (fewer than 10 total). During very busy months we’ve seen 50+ resale listings around the neighborhood.

More inventory is good for buyers – more options, more flexibility, better pricing potentially. Counterintuitively, more inventory can also be good for sellers in a way. The more buyers who are out and about, the better.

A Focus listing in Central Park listing that recently closed

Sure, on the selling side you’d like to see less inventory with respect to your direct competition – so rather than have 10 competitive homes listed at the $800k price point which is where you might want to list your home, maybe you’d like to see 2-3 homes at the $800k price point.

But more listings is not necessarily bad news for sellers. We’ve found that if you market your home so that you’re in the top 2-3 homes at your price point in your neighborhood from a digital and physical presentation standpoint – with excellent professional staging, the very best photographs, a Matterport 3D model (helpful for non-local buyers who might not be able to do a showing), a smart social media campaign that potentially touches 10,000+ social media feeds in the right way, and more – you’re likely going to be in a good spot.

Another sign that the market is back? One of our favorite local builder, Infinity Properties, sold 15 homes in Central Park in January. That’s more homes than they’ve ever sold in a neighborhood in that amount of time. Joe Philips has all the news on Infinity in this Scoop post: How has Infinity sold 15 homes in Central Park in 2023?!

(As a quick aside, Infinity also builds in another neighborhood our team works heavily in called The Canyons at Castle Pines, which is right at the intersection of I-25 and Castle Pines Parkway in south Denver. You can follow our Canyons Facebook page here for more.)

Before we dive into the numbers, be sure to check out our new Inside Scoop post. We have updates on the new Costco, a new coffee shop that opened close to Central Park (Glissade), a new Smoothie King and Halal Guys restaurant that are moving in, and more.

We also track down development rumors such as whether a Tesla dealership is moving into Northfield, what’s being built north of the Super Target, what’s being built at Central Park Blvd and MLK, Jr. Blvd, and more.

Here’s our post:

Inside Scoop: Costco update, new coffee shop is here, Halal Guys restaurant & Smoothie King are coming, Bistro Vendome & Raising Cane’s open, and more!

Now with all that said, let’s chat about the Central Park real estate market.

Whether you live in, or would like to purchase in, Central Park or anywhere else in the Denver metro, our 7 brokers here at Focus would love to help!

Active Listings 

There are currently 34 active resale listings in Central Park, and 3 “coming soon” listings.

New Listings

This week we saw 9 new, non-builder listings and “coming soon” in the neighborhood.

Under Contract Homes

Right now there are 16 homes that are pending (meaning they are under contract, but have not yet closed).

Closed Homes

And we also saw 4 homes close.

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. Focus and its agents make no representations, warranties, or guarantees as to the accuracy or completeness of any information in this post. Please confirm all information with your own advisors and do not rely on this post. Thanks for reading the Scoop!

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