Observatory Park, one the premier Denver neighborhoods for so many reasons. It’s proximity to transportation, DTC, Downtown, DU, so many great schools, whether private or public. The 7500 sq. ft. lots have called the builders and the neighborhood has seen so much redevelopment! How is the neighborhood faring currently? Well, let’s take a look. All data from the Denver MetroList.
Sold Properties:
11 homes closed Jan. 1, 2009 – Feb. 23-2009. These homes ranged in price from $200,000 to $1,700,000. In the last 6 months (Sept 1, 2008) 31 homes have sold after being on the market an average of 154 days. The difference in selling price from the original list price was -6.78%.
Active Properties:
There are currently 88 properties on the market, ranging in price from $200,000 to $2,095,000. The current average days on market for these 88 properties is 198. The current list price is 4.4% less than their original list price. Of these 88 properties, only 15 of them are less than $500,000. 36 of them are over $1,000,000, that is a 12 month supply considering 3 closed in January however none in Febuary, which leads me to believe that the top end in observatory park will be coming down.
Are you thinking about Observatory Park, whether buying or selling, give me a call. 2450 S. Garfield St. is fantastic home on the market for $425,900, take a look.
Written by Perry & Co. Real Estate Agent Brad Colburn
