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. This year, there were only 129 sales in the neighborhood, which represents 22% fewer than 2022 and 44% fewer than 2021. With just over one week left this calendar year, there are 29 active listings in the neighborhood and seven transactions pending. The theme all over Denver- and really, nationwide- is that most sellers aren’t excited to give up their sub 3% interest rate and aren’t selling unless it’s necessary. Sloan’s Lake surely followed suit.

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.

And So Here We Go! Read on for a Recap of What Happened in 2023.

Total Number of Sloan’s Lake Homes Sold in 2023: 129

83 were Single Family, 7 were condos and 39 were multi-family homes (townhouse, half duplex, triplex or quadplex). The number of total sales in the neighborhood was down 22% from 2022, the average price was up slightly and the median price was down slightly. The average days on market almost doubled.

Average Sale Price: $1,046,552
Median Sale Price: $875,000
Average Days in MLS: 24
Average Sold to List Price: 98% of List
Number of Cash Transactions: 32

Most Expensive Home Sold: $3,600,000

2450 Zenobia is custom new build on Sloan’s Lake. The single family home has 5 beds, 5 baths and 3,875 square feet. It also had the highest price per square foot at $929. This year’s record is 20% higher than last year’s most expensive home, which sold for $3M.

Least Expensive Home Sold: $325,000

2662 Utica is a 1 bed, 1 bath, 401 square foot condo built in 1943. This is in the Park Plaza Condos across from the lake and Pirate Playground, which has a $368/mo HOA. It was also the smallest home sold in the neighborhood. The sale included a $5,000 concession to the Buyers. Sold by Guy Nahmiach with Keller Williams after 13 days on market.

Biggest Home Sold in 2023: 5,484 sqft

The largest home sold was 2485 Oak Street. This modern new build, with 5,484 total square feet, is one block north of the lake. It features 5 beds, 6 baths, extra large windows and a custom staircase. At $2,925,000, it was also the second most expensive home sold in the neighborhood. Sold by Christopher Gibson with LoKation Real Estate and Billy Jo Benoit with Brokers Guild. * Seller has requested that no photo be shared.

Oldest Home Sold in 2023: 1886

2529 Irving Street was built in 1886. It’s a Victorian with 2 beds, 2 baths and a detached 2 car garage. It features a primary suite addition with dormers on the second level and a flex space off the kitchen. It sold in 3 days for $750,000 by Ryan Schulz with Berkshire Hathaway.

Lowest Price Per Square Foot: $316 finished

2575 Grove Street is a 4 bed, 5 bath half duplex that sold for $1,065,000 with a $40,000 concession. It was on market for 124 days by the latest count, but with expirations and pending sales, it had actually been listed since May of 2022. Sold by Ryan Dillon with Madison & Company.

Most Expensive Attached: $1,495,000

2526 King Street is a 4 bed, 5 bath half duplex with 3,563 square feet that was built in 2014. This duplex sits on a large lot with a large yard, deck with pergola and a rooftop patio. Features include a large kitchen island, open concept, and lots of storage. Sold in 2 days by Rachel Gallegos with milehimodern.

Lowest Sale to Original List Price Percentage: 81%

3710 W 26th Avenue was originally listed for $700,000 and sold for $570,000. It was a 1940s Tudor on 26th, which is a busier street, and the buyer purchased the home with cash, as-is. The listing agent was Erin Brumleve with Keller Williams.

Highest Percentage Over Original List Price: 12% Over

2209 Julian Street, a smartly updated Victorian, was listed by Kelly Reed with milehimodern for $850,000. It sold for $950,000 in August. In a down market, this one still had multiple offers and went in a weekend.

Longest Time on the Market

2185 Julian Street was on the market for 314 days, the longest time on market for a Sloan’s Lake listing. It was a new construction half duplex built by MAG builders and was listed before completion. It sold for $1.325M by Josh McKinley with Compass and Josh Behr with LIV Sotheby’s. (Originally listed for $1.595M)

Largest Concession

3929 W 24th Avenue was on the market for 69 days and was listed for $2,395,000 by Katie Robinson and Kayla Schmitz with Kentwood. It sold for $2,295,000 with a $98,795 concession to the Buyers at Closing. Seller concessions were a common occurrence in 2022, providing an incentive for Buyers to help buy down the higher interest rates we saw this year.

Lowest Price Per Square Foot: $266 total

2666 King Street sold for $650,000 in May off market as a fixer. It also qualified for the second lowest finished price per square foot sale in the neighborhood. The deal was double ended by Daniel Villanueva with Volante Realty.

Least Expensive Single Family Home

2040 Hooker Street sold for $549,700 in November. It’s a 2 bed, 1 bath home with just over 1,000 finished square feet and an unfinished basement. Sold by Kellen Harmon with Home Savings 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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