Summer Market Update
We are at the height of summer, heading into a holiday weekend. The lake paths are full, the Boathouse is getting its first serious makeover in decades, and the market is finally rewarding many buyers. Summer is typically the time when we see the most homes on market. We're experiencing that this year, however compared to last summer, Denver inventory is down about 15%. Across the market, our days on market are just over 30 days, and the average price is hovering around $800,000. In the Sloan's Lake and Highlands neighborhoods, the average days on market is about the same, but our average price is approximately $100k higher.
The neighborhood has a mix of property available and there are four active listings above $3M in the neighborhood, clustered near Sloan's Lake and Rocky Mountain Lake in Grand View. Finding a move-in ready single family home for under $1M remains a challenge for buyers looking to move up from a smaller, attached home or a rental. If you're a townhome buyer, you have more options and in turn, negotiating power. Median price for a townhome in the area is approximately $700,000.
With interest rates staying higher, buyers who are active right now are serious but picky. When a home is priced correctly, it's still getting attention. If you're a seller, remember that bidding wars are no longer a common thing, especially on an overpriced listing. But if you handle repairs, price thoughtfully, and present well, you can get it done!
Source: ReColorado // Stats based on 5/30/26-6/29/26 for all listings in 80211 + 80212
The most expensive home sold last month was 2720 Quitman Street, a 5 bed, 4 bath, 5,200 square foot new construction home located four blocks from the lake. It was sold for $2,665,000 by Blane Harvey with Your Castle Realty after 28 days on market. The sale included a $62,000 seller paid concession. It featured brick and stucco exterior, an open floor plan, luxury kitchen with butler pantry, rooftop deck and a finished basement.
The most expensive attached property sold last month was 3645 Lipan Street, a 3,600 square foot townhouse in LoHi. It was sold by Delroy Gill with Sotheby's for $1,750,000 in a weekend. The luxury townhouse had 5 beds, 5 baths, a detached 2 car garage, and a finished basement with 10 foot ceilings. Designed by Lubowicki architecture with artist Lawrence Argent, creator of Denver's iconic Blue Bear statue, the property features beams, steel detailing, and floor-to-ceiling south facing glass.
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Experience Caitlin Clough's dedication and expertise in real estate. Caitlin brings unmatched negotiation skills, empathetic communication, and a deep understanding of Denver's neighborhoods to guide clients seamlessly through their home-buying or selling journey, making dreams come true one key at a time.
