Congress Park, Denver
Market Snapshot for Feb-Apr, 2014
Spring has come to Congress Park, Denver. After a brief winter slump, the neighborhood continues to cement its path of steady growth with a 60 percent increase in inventory over the last quarter and an increase in the sales price.
Congress Park Homes for Sale
In Feb – April, 2014, there were 85 homes for sale in Congress Park, Denver, up from 53 available homes in Nov, 2013 – Feb 2014. Compared to a year ago, that’s a tremendous decline in inventory — there were 221 homes for sale from Feb – April, 2013.
The total number of homes that sold from Feb – April, 2014 was 53, up from the previous quarter when only 38 homes were sold. In Feb – April, 2013, 95 homes were sold. Overall, that is a 44 percent decrease in sold homes; however, the ratio of available homes to sold homes increased from 42 percent 62 percent — more people are buying what is available.
Days on the Market
Listings in Congress Park, Denver remained on the market somewhat longer this quarter than the previous one. Days on the market (DOM) for the last quarter averaged 84, compared to the previous quarter’s DOM of 71. In Feb – April, 2013, the average DOM was 91.
Average Sales Price
The average sales price in Feb – April, 2014 was $401,463, an 11 percent increase over the previous quarter’s sales price of $355,383. In Feb – April, 2013, the average sales price was $380,790
Although things are stabilizing, all indications point to the fact that Congress Park continues to be a competitive player in the Denver real estate market. I am happy to assist sellers in competitive pricing and to help buyers find the perfect home in this exciting market.
Congress Park Real Estate, Denver