Dear Friends & Neighbors,
Each year we provide statistics showing number of sales in different price ranges, average cost per square foot, and median prices for both the East and West side of Washington Park for the past 4 years. Once again, Wash Park Sellers reaped the benefits of high demand from Buyers. This, mixed with the unprecedented low inventory, made 2016 another year that the Sellers were in the driver’s seat.
By looking at the report, you can track the continual rise of the median price of homes year after year on both the east and west side of the park. As you can see, the average price per square foot has also continued to rise on both sides of the park. Each year, more and more homes are sold in the higher price ranges. We even had to add a price range this year to keep up with the rising prices! More homes were sold on the east side of the park over $1.4 million than in any other price range. This is quite telling in terms of where the market has gone in just the past 4 years. It’s the perfect combination of Denver’s desirability and the sheer number of people moving here coupled with the low inventory of Washington Park.
The West side of the park had more homes sell between $600,000-$750,000 this year compared to other price ranges. In years past, the west side of the park always had more homes sell than the east, but this year, the west side had fewer homes sell than the east adding to the low inventory that Buyers have been suffering through.
Washington Park doesn’t lose its desirability for home buyers year after year because of its charm, location, and amenities. In fact, each year, the demand seems to grow stronger and stronger. Prices continue to climb, and Buyers are doing whatever it takes to get the homes they want in this, once again, Seller driven market.
Please let us help you as Sellers to obtain the best price for your home and effectively navigate through multiple offers. And if you are a Buyer, let us help you win the bidding wars with our expertise and knowledge of the market and neighborhood. We know how to get it done. We look forward to hearing from you.