Denver Home Sales For 80218

Capitol Hill, Cheesman Park, and City Park West Home Sales

Below is the latest data from Metrolist Multiple Listing Service (MLS) which includes the sale of single family homes in zip code 80218 for September 2012, compared to last year.  The neighborhoods in 80218 include: Capitol Hill, Cheesman Park, City Park West, and Uptown to name a few.  The data does not include all of the new construction sales and unlisted property transactions.  According to MellisaData.com, which includes data from public records, there were 23 homes sold in September of 2012 for an average price of $641,000.  MelissaData.com noted that 16 homes sold in September 2011 for an average sales price of $231,000.

After digging a little deeper into the data, there were two transactions in September of 2012 at $5.4 million and $1.05 million that pushed the average price up.  There were also nine other transactions over $500,000 in Denver’s 80218 zip code.  The average days a home was on market before selling dropped from 100 days in 2011, to just 60 days on the market in 2012.  This was a strong month for the Cheesman Park, Capitol Hill, and City Park West neighborhoods.

September 2011-12 Single-Family Home Sales
	2011	2012
# of Home & Condo Sales	7	17
Avg. Days On Market	100	60
Avg. Price Per Sq. Ft.	$228	$316
Lowest Sale Price	$209,000	$224,900
Highest Sale Price	$639,000	$5,985,000
Avg. Price/Avg. List	94.08%	94.68%
*Data gathered from Metrolist MLS.

Office Space For Lease in Stapleton

Class A Office Space For Lease in Stapleton

Premiere Class A office space available for rent in the desirable Stapleton neighborhood.  Building features include: three story building with 44,952 SF, built in 2007, ample parking, and premium exposure.  The building is easily accessible to I-70, I-270, and I-225, and RTD bus stop. 

Property Highlights:

• Class A Office Building
• Easy access to I-70, Denver International Airport, and Central Business District.
• Walking distance to restaurants, parks, fitness center, and numerous businesses.

10,078 RSF Available:

• 10,078 RSF available
• Suite 200: 2,841 RSF
• Suite 201: 1,973 RSF
• Suite 202: 2,585 RSF
• Suite 203: 2,679 RSF

To learn more contact Greg Pond at 303-720-9199 or greg@tjcrealestate.com.  

Park Hill Real Estate Snapshot

Park Hill Home Sales Stats

The latest data from Metrolist Multiple Listing Service (MLS) single-family homes in Park Hill’s zip code 80220 for September 2012 compared to last year is below.  The data does not include all of the new construction sales.  According to MellisaData.com, which does include new construction sales, there were 52 homes sold in September of 2012 for an average price of $388,000.  MelissaData.com noted that 37 homes sold in September 2011 for an average sales price of $329,000.  

The data reveals the Park Hill real estate market is strong with activity and home prices are climbing back.  The increase in the number of home sales from MelissaData.com showed a substantial jump in sales with 52 in September 2012 compared to last year’s home sales at 37.  The increase in the price per square foot was a positive indicator for home values.  The Park Hill real estate market is facing some headwinds with the lack of inventory.  Buyers are struggling to find the right home and properties are selling fast.  In September, there were 15 homes that sold in Park Hill in less than 10 days.

September 2011-12 Home & Condo Sales
	2011	2012
# of Home & Condo Sales	37	36
Avg. Days On Market	105	63
Avg. Price Per Sq. Ft.	$208	$253
Lowest Sale Price	$59,500	$84,900
Highest Sale Price	$1,950,000	$2,300,000
Avg. Price/Avg. List	95.38%	94.69%
*Data gathered from Metrolist MLS.

Stapleton Market Snapshot

Stapleton September Home Sales 

Below is the latest data from Metrolist Multiple Listing Service (MLS).  The data below includes the sale of homes, condos, and townhomes in Denver’s Stapleton neighborhood for September 2011 and 2012.  The data does not include all of the new construction sales, but only select transactions the builders list on MLS.  According to MellisaData.com, there were 43 homes sold in September of 2012 for an average price of $395,000.  MelissaData.com noted that 29 homes sold in September 2011 for an average sales price of $502,000.

September 2011-12 Home & Condo Sales
	2011	2012
# of Home & Condo Sales	23	21
Avg. Days On Market	62	61
Avg. Price Per Sq. Ft.	$208	$198
Lowest Sale Price	$270,919	$227,600
Highest Sale Price	$1,100,000	$925,000
Avg. Price/Avg. List	99.00%	98.29%
*Data gathered from Metrolist MLS.

Stapleton Pumpkin Patch & Farmers Market

The final Farmers Market of the season will be on Sunday, October 14th from 8:30am to 12:30pm on the Founders Green.  There will be a pumpkin patch at the farmers market and pumpkins will be available for purchase.  For every $5 you spend at the market, you will receive one coupon for the Stapleton Pumpkin Patch.  The coupons will get you the following: one coupon gets one small pumpkin, two coupons gets a medium pumpkin, and three coupons gets a large pumpkin.

Denver Real Estate Market Snapshot

National Housing
The national housing market received some good news from two housing reports last week.  According to the Census Bureau, the number of housing starts and permits climbed significantly in August.  The National Association of Realtors reported that sales of previously owned homes jumped 7.8 percent compared to last year.  Home builders remain upbeat with the National Association of Home Builders confidence index climbing to its highest point since June of 2006.  Home builders started construction on new homes at a rate of 750,000 per year, which is a 24.5 percent bounce compared to last August.

The housing market continues to make strides toward a recovery.  The chief economist for the National Association of Realtors, Lawrence Yun, stated that there is a better balance between home buyers and sellers in the market now.  If the current pace of home sales continues, there is a 6.1 month supply of homes on the market, which is down from 8.2 months from last year.  The current low inventory will provide some support for home prices.

One other pillar in the foundation to the housing recovery is the historically low mortgage rates.  The Federal Reserve announced in mid-September that they would continue buying mortgage backed securities to the tune of $40 billion a month until the labor market improves— dubbed QE3.  The Fed’s QE3 program should provide a temporary foundation for housing keeping mortgage rates low for the remainder of the year.  The Fed signaled that they are going to keep rates low through 2015.  As of September 26, 2012 30-year fixed rate mortgage rates in Colorado hovered around 3.22 percent, according to Zillow Mortgage Marketplace.

According to S&P's press release, home prices nationwide continued to show some signs of growth:
“Home prices increased again in July,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “All 20 cities and both Composites were up on the month for the third time in a row. Even better, 16 of the 20 cities and both Composites rose over the last year. Atlanta remains the weakest city but managed to cut the annual loss to just under 10%.

Shadow Inventory
There has been a lot of chatter about the housing markets next hurdle is shadow inventory.  According to a report by JP Morgan Chase, the shadow inventory of distressed mortgages and foreclosed homes dropped by 1.2 million in the first half of the year.  The report predicts that shadow inventory will drop to over 4 million down from the apex of 6 million in 2010.  The analysts at JP Morgan forecast “the rapid decline should prevent downward pressure on home prices going into 2013.”

Colorado Housing
The Case-Shiller report for the July 2012 home price index revealed that Denver home prices grew at the highest rate since January 2002.  The Denver home price index rose 5.4 percent compared to last year.  This was the seventh year-over-year increase in a row for Denver.  Case-Shiller reported that Denver ranked number four out of the twenty cities that experienced increases in the home price index that Case-Shiller monitors.  In comparison to the other twenty metropolitan areas that Case-Shiller tracks, Denver did not experience the real estate bubble that other metropolitan areas experienced.  The chart below compares the Denver area to the other 20 cities that Case-Shiller tracks.  The Denver area had an increase of 5.4 percent, compared to the 1.2 percent increase in the 20-city Case-Shiller composite.

Stapleton Home Sales Stats

Below is the latest data from Metrolist Multiple Listing Service (MLS).  The data below includes the sale of homes, condos, and townhomes in Denver’s Stapleton neighborhood for August 2012 compared to last year.  The data does not include all of the new construction sales.  According to MellisaData.com, there were 47 homes sold in August of 2012 for an average price of $427,000.  MelissaData.com noted that 46 homes sold in August 2011 for an average sales price of $402,000. 

August 2011-12 Home & Condo Sales
	2011	2012
# of Home & Condo Sales	35	26
Avg. Days On Market	57	56
Avg. Price Per Sq. Ft.	$197	$197
Lowest Sale Price	$135,000	$89,000
Highest Sale Price	$999,500	$574,500
Avg. Price/Avg. List	98.64%	97.93%
*Data gathered from Metrolist MLS.

Lowry Home Sales Stats

Below is the latest data from Metrolist Multiple Listing Service (MLS) which includes the sale of homes, condos, and townhomes in Lowry for August 2012 compared to last year.  The data does not include all of the new construction sales.  According to MellisaData.com, which includes new construction sales, there were 14 homes sold in August of 2012 for an average price of $329,000.  MelissaData.com noted that 19 homes sold in August 2011 for an average sales price of $398,000.  

August 2011-12 Home & Condo Sales
	2011	2012
# of Home & Condo Sales	8	13
Avg. Days On Market	149	86
Avg. Price Per Sq. Ft.	$205	$211
Lowest Sale Price	$319,900	$347,500
Highest Sale Price	$690,000	$1,225,000
Avg. Price/Avg. List	96.80%	97.08%
*Data gathered from Metrolist MLS.

Park Hill Home Sales Stats

The latest data from Metrolist Multiple Listing Service (MLS) single-family homes in Park Hill’s zip code 80220 for August 2012 compared to last year is below.  The data does not include all of the new construction sales.  According to MellisaData.com, which includes new construction sales, there were 90 homes sold in August of 2012 for an average price of $405,000.  MelissaData.com noted that 65 homes sold in August 2011 for an average sales price of $448,000.  

August 2011-12 Home & Condo Sales
	2011	2012
# of Home & Condo Sales	53	56
Avg. Days On Market	94	44
Avg. Price Per Sq. Ft.	$245	$248
Lowest Sale Price	$78,900	$73,000
Highest Sale Price	$2,195,000	$1,425,000
Avg. Price/Avg. List	95.39%	97.43%
*Data gathered from Metrolist MLS.

Stapleton Development Meeting

Northfield Mall in Stapleton

Forest City hosted the Stapleton Development Meeting for local real estate professionals to provide an update on the next stages of development.  Forest City launched the discussion with news that they will start building in the Northfield Mall area of Stapleton in November.  Forest City noted that they have been prepping the land in Northfield since November 2010.   The new neighborhood will be called Conservatory Green.  

The Conservatory Green will have similar density to the south side of Stapleton.  Some of the streets in Conservatory Green will have curves, rather than the grid or linear roads like the older part of Stapleton.  The neighborhoods will have walking paths and access to the Rocky Mountain Arsenal, Dicks Sporting Goods Arena, and the Northfield Mall.  Forest City went on to say that there will be additional community gardens.

Conservatory Green will have a 45-acre park being developed at the same time construction starts on new homes.  Forest City forecasts the park will be complete in the spring of 2014.   Some of the other plans Forest City mentioned about Conservatory Green were a new town green and town center similar in size to the 29th Avenue Town Center.  They plan to have a hardscape plaza, fountain, fire pit, and amphitheater.

According to Forest City, the real estate value in Stapleton recently reached the $2.1 billion mark.  There are over 5,000 homes in Stapleton now.  Over the last 10 years, Stapleton has experienced 1,286 home sales of previously owned homes.  This year there have been 400 home sales, which is approaching a 40 percent increase compared to last year.  From January thru August 2012, home sales of previously owned homes are up 50% compared to last year.  The average home price value is also up 3 percent since June.

New Home Design in Conservatory Green

The north neighborhoods were inspired by the prairie landscape in Northfield. The new homes being built in Conservatory green will consist of five architectural styles: 1) Prairie, 2) Foursquare, 3) Craftsman, 4) Farmhouse, and 5) Modern.  Forest City is attempting to do some different compositions to have a unique feel on the diversity of homes.  The color palette for the homes in Conservatory Green and the remainder of the neighborhood were inspired by the prairie landscape and flora in Northfield.

The home builders building new homes in the Conservatory Green neighborhood will be most of the same builders in Stapleton today.  The list of builders is: Infinity Home Collection, Parkwood Homes, Standard Pacific, New Town Builders, Wonderland Homes, KB Home, David Weekley Homes, and Boulder Creek.  Boulder Creek is the newest addition to the family of builders in Stapleton.  Boulder Creek will be building age targeted ranch homes for seniors.  

Parkwood Luxury Townhomes

Forest City was excited to announce some of the details on the new homes being built in the Conservatory Green neighborhood.   Infinity Home Collection will be building the Haus collection, which will replace the current Pure models.  The Infinity Haus will have a larger lot, and is in the $650,000 to $750,000 price range.  They will also be building a model similar to the existing Lime model in Central Park North that will range from $500,000 to $550,000.

Parkwood homes will be building a few of their traditional homes like the south side of Stapleton, as well as luxury townhomes.  Parkwood will have larger lot sizes, similar to the size of Infinity's lot, side driveway lots, and row gardens in the backyard.  Single-family homes will range from $550,000 to $650,000.  The luxury townhomes will start in the low $400s.  

Forest City explained that builders Standard Pacific and New Town Builders will be doing similar homes that are currently in Central Park North, Central Park West, and Bluff Lake.  New Town Builders plans to continue building sustainable homes, and may continue with their zero energy homes.  

David Weekley Homes will be doing similar models that are currently in the Central Park West neighborhood of Stapleton.  David Weekley is going to start building paired homes in the Conservatory Green neighborhood, which is a new venture for David Weekley in Stapleton.  They will do paired homes, and single families on the same block, which is also a new concept in Stapleton.

Wonderland Homes will continue to do the courtyard traditions and innovations and models.  Some new home design will accompany some of their existing homes as well.  The Edge will come to the northside of Stapleton and Conservatory Green with some updates.  KB Home will start building courtyard homes, entry-level homes, with home garden boxes.  Boulder Creek will do ranch style plans only with finished basements.  Boulder Creek homes are geared towards grandparents and seniors.