A buyer’s market? No, the data collection and analysis behind the Infographic is technically working correctly, but since we added the area where all the new builds are happening just out of the true Sloan’s Lake boundaries [to capture the redevelopment of St. Anthonys], keep in mind that there are a lot of attached homes there, and this is skewing the over all market of Sloan’s Lake. So the attached home market is leaning towards buyer’s, but the market for detached homes? Still a SELLER’S MARKET as inventory is still below normal levels and the demand is high.
What detached homes sold in August? Well since we see so many scrape and new builds and/or older homes being retrofitted like a new home, those who love the charm of yesteryear will love the fact that the beautiful Victorian charmer at 3147 W 28th sold quickly. I bet the new owners are enjoying their home and Sloan’s Lake! And remember the 1880 built home at 1839 Grove? It sold, and is now a rental. Rental market is hot so it is a great time to invest!
And the development land at 16th/17th and Julian/King finally made it through to closing for $2.3m. Watch for that project!
2800 Wolf St sold in August for $520,000. My review after viewing the home when it came on the market in May was that the home was overpriced and the market agreed. Originally listed at $650,000 it dropped to $575,000 and sold for $520k. This is a wonderful home and great value.
Attached homes remain hot in Sloan’s. Of the 29 sold attached homes in Sloan’s all but 5 were new. Not a surprise! 3401 W 16th and 1562-64 Perry were both suggested as development projects. 3235 W Conejos Pl is a lovely row home and 2351 Federal is the 1904 historic school house conversion.
We did see the usual cooling in August due to folks taking the last summer vacation and especially due to the back to school rush, but don’t be fooled. Denver is still a hot hot market and Sloan’s Lake is no exception. We are moving along quickly again and we will until we see a seasonal slowing around the holidays and winter.
As I have shared before, even though we are a seller’s market, sellers still need to be wise and completely prep their home. This could include hiring an inspector and taking care of a few vital things. Stage! And don’t overprice. Price just below value and you will entertain multiple offers and select the combination of conditions that meet your needs. Still a great time to buy as interest rates are low and appreciation will be working for you. Also, if you have considered investment properties, this is a great time!
*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.