Sloan's Lake Area Market Update Spring 2022

Snow once a week. Low inventory. Multiple offers over asking price. A GREAT time to sell. I think that sums up my thoughts on the start of this Spring market. But I’ll elaborate below, just in case you’d like to read on.

As inventory has ticked up, so have the number of showings, both total and per listing. Below, I show the average number of showings per listing in 80211 and 80212 is 12, but for listings priced between $500,000 and $999,999, that number more than doubles, to 27 showings per listing. This is why it feels like a party when you walk into an active listing on a Friday— buyers are out and hungry to find a great home before interest rates keep rising and more buyers hit the pavement. I realize that we throw around the term “inventory” a lot as agents, and the public may not necessarily know what that means, so I should really just start saying we don’t have enough houses for sale in Denver. I’ll say that again. WE DON’T HAVE ENOUGH HOUSES FOR SALE IN DENVER.

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, and with the right marketing strategy (and agent!) we can make the process seamless, smooth and enjoyable— and get you the price that your home deserves. I’d love to chat with you about that process, and talk through a strategy to find your next home (it’s hard but I’m finding them, promise!) I have many VERY qualified buyers and I’ll bet one of them would love to make you move- on your terms, at your price, and when the time is right for you. Let’s make it happen!

Now. Onto Those Stats

Active Listings: 46
Coming Soon Listings: 4
Pending Listings: 171
Closed in Last 30 Days: 105 (55 single family, 50 multi-family)
Withdrawn/Expired (last 30 days): 5
Average Sold Price: $792,600
Average Ratio Close Price by List Price: 109.4% of List Price
Average PSF (Finished): $557
Number of Showings: 4,065 (this has doubled since January)
Average Number of Showings per Listing: 12

The highest priced sale in the last month was 1845 W 33rd Avenue in LoHi, a new build with an ADU just down the street from the Fifth String. It sold for $2,775,000 after being listed for about five and a half months. This is a large home by LoHi standards, with 4,600+ finished square feet, 6 beds and 7 baths. Every inch was well done. It was listed by Ben Green with Generator Real Estate.

The most expensive attached home sold was 3524 Mariposa St in LoHi, which sold for $310,000 OVER the asking price. Woah. This modern half duplex, with all the bells and whistles, has 4 beds, 5 baths and 3,100 finished square feet. With a covered front patio, back yard, and a covered roof deck (with great views) this half duplex lives like a single family home. The listing agent was Sara Glaze with Kentwood City, and the buyer’s agent even lowered their commission, increasing the Seller’s net. As I said it’s great time to be a Seller. Props to the listing agent for squeezing out as much profit as possible!

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