Sloan's Lake Area Market Update: Fall 2023

Ahhh, Fall.

Crisp morning air, yellow aspen leaves, and more days on market have arrived. While we're still living in a low inventory market, we've started to see more homes taking longer to sell, which is creating more options for buyers. The Denver metro area currently has 6,593 listings for sale. According to market stats expert, Megan Aller with First American Title, to achieve a balanced market with a 6-month supply of inventory, we would need 20,776 total listings. With our current supply, we have 1.9 months of inventory or 31.7% of balance.
Buyers are also responding to the Fed’s ‘hawkish pause’ by slowing down their searches as well. Pending sales in the Sloan’s Lake area are down by almost 10% and closed transactions are down by over 20% as compared to summer. In my business, I’m seeing buyers tour more properties, compete in fewer multiple offer situations and get more concessions or repairs completed by the Seller during the inspection period. But their options still feel limited, and in low inventory neighborhoods, it’s still tough to find a ‘deal’. Cash transactions have also increased as buyers look for ways to avoid using mortgages in this higher rate climate.
The highest priced sale in the last 30 days was 2762 King Street in Sloan’s Lake, a 4 bed, 5 bath new construction home built by Thomas James Homes. It was sold by my colleagues, Peter Blank and Jack Urbano with milehimodern. It sold for $1,885,000 on September 15th after being on market for 39 days. The sale also included a $20,000 concession to the Buyer, which may have been used to buy down their rate. You’ve probably heard people in the market talking about a rate buy down or a ‘2-1 Buy Down’. Don’t be embarrassed if you don’t know what that means you’re not a lender! Feel free to call me and I can explain or put you in touch with one of my lender partners to break it down for you.
Are you trying to decide if now is the right time to move? Do you want a change of scenery, or more space (or less!) but don’t want to give up your sub 3% interest rate? As always, I’m prepped and ready should you have questions or want to dive into buying, selling, or investing in the Denver area!

80211 + 80212 Market Stats

  • Active Listings: 243 (up 48% since summer)

  • Coming Soon Listings: 12

  • Pending Listings: 101

  • Closed in Last 30 Days: 79 (49 single family, 30 multi-family)

  • Number of Cash Transactions: 23 (or 29% of all transactions)

  • Withdrawn/Expired (last 30 days): 57

  • Average Sold Price: $886,303

  • Median Sold Price: $775,000

  • Average Ratio Close Price by List Price: 96% of List Price

  • Average PSF (Finished): $516

  • Average Days in MLS: 32

  • Number of Showings: 1,790

  • Average Number of Showings per Listing: 4

Related Blog Posts

Sloan’s Lake Condo Buildings

Are you interested in a low maintenance community or a lock-and-leave residence? These are some of the most popular condo buildings in the Sloan's Lake area.

Sloan's Lake Area Market Update: Spring 2024

Spring 2024 has been an interesting time for the Denver real estate market.

The Pop Top Story

When we bought our bungalow at the end of 2019, we weren’t exactly looking to move. Being a real estate agent, I always have my eye on the market.

The Pop Top - Move Out + Demo

Move out day was stressful but thrilling. I remember telling the girls that in one year’s time, we’d be back in the house.

The Pop Top - Finalizing Finishes

By May, the entire house was framed and it started to take shape. Seeing the second story, even just with lumber, was really exciting.

The Pop Top - Construction Full Speed Ahead

By September, the contractors were laying hardwood floors (we picked an engineered European oak in a 7.5” width). Then came interior doors, trim, and stairs.

The Pop Top - The Final Product

It took a long time, cost a lot of money, and required a million decisions. I understand what a luxury this experience has been, I feel extremely lucky.

Helpful Resources

Whether you live in Denver or you're planning a move and need advice for how to buy a home here, this guide will be helpful.

Rupert's At The Edge

This is a favorite breakfast, brunch and lunch spot in the area and we had the opportunity to speak with the co-owner Tim. Read the interview below!

All Things Home

One of the best parts of my job is that I get to be that source of “all things home” for clients and friends.

Nurture A Wellcare Marketplace

We recently had the opportunity to interview the Nurture leadership team to learn more about this amazing Wellcare Marketplace.

Sloan's Lake Neighborhood: 2023 in Review

It’s my favorite time of year! I get to celebrate the holidays and put on my stats hat to review the real estate happenings for the Sloan’s Lake neighborhood.

Giving Back

It’s always an honor to serve my clients, but it’s extra special to give back to our community on their behalf.

Sloan's Lake Area Market Update: Fall 2023

While we're still living in a low inventory market, we've started to see more homes taking longer to sell, which is creating more options for buyers.

Nikki Nation Jewelry

We had the pleasure of interviewing past clients and local business owners. Nikki started her jewelry business here in Denver in 2015 and until 2023.

Sloan's Lake Area Market Update: Summer 2023

More like June gloom is here. This rain sure is making things green around here, but I’m itching for real summer.

Wholly Craze

This boutique specializes in women’s clothing and accessories, sourcing many of their items from brands made in America.

Sloan's Lake Area Market Update: Spring 2023

It’s no 2022, but with fewer homes to sell than buyers looking, supply and demand is doing its thing.

Sloan's Lake Neighborhood: 2022 in Review

Every year, I put my stats hat on and review the real estate happenings of the year for the Sloan’s Lake neighborhood.

Sloan's Lake Area Market Update: Fall 2022

This fall, the market has been impacted by rising interest rates and inflation. It made buyers hit pause, and I get it.

Sloan's Lake Area Market Update: Summer 2022

As summer winds down, it’s clear that we’re experiencing a shifting market in Denver. This shift means multiple offer situations are occurring less.

M Stevenson Photography

One business that I’m excited to highlight here is a photography business, M Stevenson Photo, run by a friend and past client, Molly Stevenson.

Sloan's Lake Area Market Update: Spring 2022

If you live in the neighborhood and are open to moving, know that the odds of selling are better now than they’ve ever ever been.

Sloan's Lake Neighborhood: 2021 in Review

Last year, I had some fun reviewing the year with a million different stats for the Sloan’s Lake neighborhood. One year later, I’ve decided it should be a tradition.

Work With Caitlin

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.