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. This year, there were far fewer transactions to sort through— 40% less than last year— but the findings were interesting as always. With two weeks left in the year, there are just 15 active listings in the neighborhood and six transactions pending. I mentioned this last year, but as a reminder, when I say “sold in 15 days”, I’m referring to the stat for ‘Days in MLS’. So, ‘sold in 15 days’ means it took 15 days from when the house was active in the MLS to when it went under contract.

Without Further Ado, Here’s a Recap of What Happened in 2022.

Total Number of Sloan’s Lake Homes Sold in 2022: 165

96 were Single Family, 6 were condos and 63 were multi-family homes (townhouse, half duplex, triplex or quadplex). The number of total sales in the neighborhood was down 40% from 2021

Average Sale Price: $1,032,308
Median Sale Price: $895,000
Average Days in MLS: 13
Average Sold to List Price: 102% of List
Number of Cash Transactions: 39

Most Expensive Home Sold: $3,000,000

4211 W 21st Avenue is a reimagined mid-century modern home directly across from open space on Sloan’s Lake. The single family home has 4 beds, 5 baths and 3,327 square feet and showcases stunning lake and mountain views. This record breaker sold after only 6 days on market by Rachel Gallegos with milehimodern. This most expensive home is 23% higher than last year’s most expensive home.

Lowest Price Per Square Foot (Finished): $282

2817 Federal Boulevard sold for $625,000 in December 2022 after 36 days on market and two price reductions. It’s a 3 bed, 2 bath bungalow with an unfinished basement, built in 1923. Sold by Tim Murray with eXp Realty. Last year’s lowest price per square foot was $272.

Biggest Home Sold in 2022

The largest home sold was 2521 Quitman Street. This modern new build, with 5,484 total square feet, went under contract in October of 2020 and finally closed in July 2022 for $2,290,499. It featured 5 beds, 6 baths, an attached 3-car garage, multi-level floor to ceiling windows and peaked roofs. The builder, HYGGE Modern Farmhouse, offered the buyer to pick out their finishes. Sold by Galo Garrido with RE/MAX Professionals.

Smallest Home(s) Sold in 2022

THREE-WAY TIE: 2616 Utica Street, 2612 Utica Street + 4450 W 27th Avenue are all 611 square feet in size and are all condos in the Park Plaza Condo Community. They are all 2 bed, 1 bath condos and sold for $400,000, $401,000 and $402,000 respectively. Listing agents were Tanya Hammar with Keller Williams DTC, Tod Franklin with Coldwell Banker and Rebekah Scott with Atlas Real Estate.

Lowest Price Per Square Foot (Total): $226

2625 King Street was an off market deal. This home, built in 1923, sold for $8,500 over the asking price of $420,000. The listing agent was with Ed Prather Real Estate. Last year’s record low was $265 or 17% higher than this year.

Highest Price Per Square Foot: $956

2245 Raleigh Street was an off market deal. This blond brick bungalow with 973 square feet, one block from the lake, sold for $930,000 cash. The property was sold by Debra Romera with MB Bahl Marketing Group.

Last year’s record high PSF was $878, meaning in just one year, this stat jumped almost 15%.

Least Expensive Home Sold: $365,000 (HOA: $346/mo)

3127 W 28th Avenue Unit #1 is a 2 bed, 1 bath, 618 square foot condo built in 1896. This condo is in the 10 Highlands Condo Community close to 29th and Federal. Sold in 4 days in March by Lora Martinez with West and Main. Last year’s least expensive home sold for $271,000, making this year’s 35% more than last year.

Highest Percentage Over Original List Price: 32% Over List Price

4625 W Byron Place, a mid-century modern home, directly across from Sloan’s Lake, was listed by David Heller with The Iris Realty Group for $1,500,000. It sold for $1,975,000 in June. Not surprisingly, this one went in a weekend.

Oldest Home Sold in 2022

2115 Lowell Boulevard was built in 1885. It’s an updated Victorian with 2 beds, 2 baths, an attached 2-car garage and a 350 square foot detached studio. Selling features included a primary bedroom with high ceilings, a private balcony and a rooftop deck with hot tub above the garage. It sold in 65 days for $850,000 by Trevor Sholders with DreamSpace Brokers Realty.

Most Expensive Attached Home Sold: $1,670,500

2893 Wolff Street is a 5 bed, 5 bath half duplex with 3,764 square feet that was built in 2016. Four blocks from the park, this duplex lives like a single family, with only one shared wall, which is the stairway. Features include a large kitchen island, open concept, a nanawall and a rooftop deck with views. Sold in 5 days by Barry Kunselman with Porchlight Real Estate.

Longest Time on the Market

3162 W 27th Avenue was on the market for 131 days, the longest time on market for a Sloan’s Lake listing. It was a brand new half duplex that listed in March for $1,499,999 and sold in mid July for $1,330,000. It was sold by Julie Manion with Trans Western Realty.

These stats are pertaining to the Sloan’s Lake neighborhood only. In other market updates, I will compare the entire market and/or the 80211 and 80212 zip codes, but this is ONLY for the boundaries of the neighborhood. Essentially, the east and west boundaries are Federal and Sheridan and the north south boundaries are 29th and 17th Avenue. There is a small cut out on the east side of the lake, from Meade to Federal, where the southern border is on 19th vs. 17th Avenue.

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