Sloan's Lake Area Market Update: Spring 2023

The ice is melting (except in my alley) and Spring is here!

Super Bowl is over, President’s Day Weekend skiing is done, the weather is okay but not amazing enough to spend all day at a bar crawl. Kids are in school so what do we do? We look at houses. This is the Denver market’s Spring season. Sellers often spend their winter months prepping their houses and waiting for the buyers to come back around, and as predicted, they are out. The last few weeks have seen a pick up of showing activity, and the buttoned up listings in popular neighborhoods are getting multiple offers. It’s no 2022, but with fewer homes to sell than buyers looking, supply and demand is doing its thing.
One thing to consider in our low inventory market is the lack of options at different price brackets. The median and average prices of 80212 and 80211 tell some this story, but it’s also interesting to note that in the last 30 days, there were only SIX homes in the area sold under $500,000. If you’re a buyer with a $500,000 budget, this data helps you realize the scarcity of your search (and maybe, if you HAVE to move, makes you consider broadening beyond just the northwest Denver area). It’s also interesting to note that even for houses priced above the average sale price of $926,000, listings are still going for 97% of their list price. Basically, getting a “deal” is rare at any price point.
The highest priced sale this month was 2051 Perry Street, a new build (Work Shop) four doors down from the Lake. It sold for just over it’s asking price, to a cash buyer, at $2,300,000. It was listed by Jeff Plous with Hatch Realty. Interestingly, the highest priced attached home, 3403 Tejon Street, was also built by Denver builder, Work Shop. That home was listed for $1,499,000 by Catherine Dachel of Coldwell Banker and sold for $1,520,000. Buyer financing: once again, cash. With higher interest rates, we’re seeing an influx of cash in our market; this Spring, 20% of transactions used cash as compared to 18% last fall.
Want more data on the neighborhood? Are you trying to decide if moving in our 7% interest rate climate makes ANY sense? As always, I’m prepped and ready should you have questions or want to dive into buying, selling, or investing in the Sloan’s Lake area!
Source: ReColorado // Stats based on 2/8/23-3/10/23 for all listings in 80211 + 80212

80211 + 80212 Market Stats

  • Active Listings: 114

  • Coming Soon Listings: 4

  • Pending Listings: 58

  • Closed in Last 30 Days: 75 (53 single family, 22 multi-family)

  • Number of Cash Transactions: 15 (or 20% of all transactions)

  • Withdrawn/Expired (last 30 days): 25

  • Average Sold Price: $926,177

  • Median Sold Price: $800,000

  • Average Ratio Close Price by List Price: 99% of List Price

  • Average PSF (Finished): $517

  • Average Days in MLS: 36

  • Number of Showings: 1,723

  • Average Number of Showings per Listing: 7

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.