The Denver market is not slowing down. Congress Park homeowners, it’s still a great time to list your home!
It looks like Congress Park real estate will end the year strong, along with the rest of the Denver metro! The fact we had a strong number of listings throughout the fall gives us hope. After all I’ve got a number of buyers taking advantage of the “slow season” to find the right home!
The Congress Park Vibe: Colfax Avenue
Colfax avenue was famous for decades as the road to travel between the Midwest and the Rockies. In fact it remains the longest commercial street in the United States! While it’s great to have such a historical feature bordering are neighborhood, it is the incredible revitalization of the corridor that’s making Congress Park an even hotter neighborhood. Numerous local shops and restaurants have made the avenue home. Preservation efforts are being made to save the charming old neon signs along the route. And recently the city granted a milestone $150,000 to the Fax-Mayfair BID to continue making it a fantastic community for urban dwellers and local businesses.
Congress Park Real Estate Statistics
Number of Active Listings
There was an incredible 72% percent increase in inventory this past quarter, with active listings up from 54 to 93! A year ago at this time, there were 150 active listings.
Congress Park had a bit of a dip in closings this past quarter. There were 55 homes sold between September to November, 2014, compared to 77 transactions between from June to August — a 29 percent decrease.
Days on the Market
Congress Park properties were on the market for much longer this quarter! The days on the market (DOM) jumped by 74 percent, from 20 to 36 days.
Average Sales Price
An increase in the average sales price this past quarter grew Congress Park real estate from $405,000 to $425,000.
Interesting in Buying or Selling Congress Park Real Estate?
Bottom line: Congress Park neighbors, now is an excellent time to sell. Don’t let the less number of closings or extended Days on Market fool you! It’s still an excellent time to sell and get the return you deserve. As a fellow neighbor, I’m an expert that can make it happen for you!
Contact me for advice or a consultation.
Congress Park Real Estate, Denver