August 2017 Denver Real Estate Statistics

The August 2017 Denver Real Estate Statistics show the late summer market slowly winding down. Much like what we saw last month, August 2017 showed a drop in the median sales price, an increase in the number of days on the market, and less new listings. However, unlike July 2017, in August we saw a slight increase in the number of homes sold. Comparing these numbers to August 2016, we see a similar seasonal trend, with the exception of the median sales price. Compared to this same time last year, the median sales price has risen by nearly $27,000. Average thirty-year mortgage rates dropped again slightly to a low 3.88%. If these trends continue as expected we should see similar seasonal slowing continue through the Fall.


August 2017 Denver Real Estate Statistics

University Park

Neighborhood Profile: University Park

University Park History:

University Park owes much of its history to it’s proximity to the University of Denver. The school was originally founded as Colorado Seminary by John Evans in 1864. However, in 1880 the school added the name the University of Denver. Just a few years later the school outgrew its original site at Fourteenth and Arapahoe Street. Consequently, the board of trustees accepted an offer of 150 acres southeast in which to move the university and expand.

University Park
Chamberlain Observatory

There were conditions to this offer however, most notably that no alcohol could be made or sold in the area. Gifts of land and cash helped the University holdings increase to almost 500 acres. The University of Denver trustees then platted 399 acres in University Park and sold those lots to benefit the university. University Park was part of the incorporated town of South Denver and by the mid 1890’s South Denver had several hundred residents. Only about a dozen residents were actually living in University Park and ten years later the silver crash of 1893 would contribute to causing citizens of University Park to approve annexation into the City and County of Denver.

University Park experienced a population boom after WW II when veterans stationed in Colorado decided to make Denver their permanent home. Using GI Bills many attended Denver University and the school received the nickname, “GI Tech.” In the following ten years many of the current homes were built resulting in an average build date of 1955.

University Park Today:

University park is still a strongly desirable place to live because of the beautiful homes on large lots, big established trees, low crime, and gorgeous parks. All of these features add to the charm of this Denver neighborhood.

University Park

Where: 
University Park is bounded by University Boulevard to the west, South Colorado Boulevard to the east, Interstate 25 to the north, and East Yale Way to the south.

Who Lives There: 
Singles make up almost half the population, married couples are 37% with 19% of the households having children. Annual Residential Turnover is 27%.

Retail Areas:
Colorado Boulevard
University Boulevard

Median Sales Price: 
$597,500 ( 2017). Average home prices range between $382,000 (for a condo) to a $825,000 for a single-family home.

Main Attractions: 
Properties are kept up well by owners, the neighborhood is very pedestrian and bicycle friendly

Common Complaints:
Restaurants and retail close early (including weekends), recent construction is hindering parking and driving in areas

Schools:
Most Precious Blood Catholic School
Accelerated Schools (Private)
Parzival Shield (Preschool)
Buchtel Bungalow University

Local Parks: 
Robert H. McWilliams Park, 
Observatory Park, and 
Prairie Park

Public Transportation and Bike Lanes: 
The E,H, and F RTD Light Rail Lines run through University Park. The stops to get on however, are over the boundry lines in the University and Virginia Village neighborhoods.

Bus lines servicing the neighborhood include the 21, 24, 27, 40, and the 46

University Park has four regional shared bike routes: D11, D13, D18, and D20. The East Harvard Gulch Trail is a multi- use trail. Designated bike lanes run most of E. Buchtel Blvd. and part of E. Yale Avenue

Popular Events:
Neighborhood Garage Sale (June)
Forth of July Parade
Band in the Park followed by stargazing
Sing & Sleigh-bells

University Park


Fisher, Steve. Images of America: University Park and South Denver.
Published by Arcadia Publishing. Charleston, South Carolina, 2009. Print.

Statistical data collected from Metrolist, Inc. RE Colorado – powered by Matrix.

South Park Hill

Neighborhood Profile: South Park Hill

South Park Hill History:

Speculators purchased most of South Park Hill from the federal government in the 1860’s. It was Prussian German, Baron Allois Guillaume Eugen Von Winckler, however, who’s credited as “the father of Park Hill.” Winckler came to Denver in 1884 at the age of 25 and soon after was introduced to Walter Von Richthofen. Richthofen was one of the investors of the town of Montclair. Winckler decided to invest in land close to Montclair and purchased a plot east of Colorado Boulevard, between 26th Avenue and Montview in 1885. He platted the land “Park Hill” and envisioned the property with grand homes on oversized lots. A large number of people were moving to the Denver area and Winckler was hoping to profit from this boom. The silver crash of 1893 helped contribute to slow sales in Park Hill. Consequently, Winckler took his own life in 1898.

South Park Hill
Montview Blvd

Soon after investors bought the Park Hill holdings. They really started to flesh out Park Hill as an idyllic and affluent residential neighborhood. The original land owned by the Baron was annexed to Denver in 1893 while the rest of the land composing greater Park Hill was added ten years later. Varying styles of homes were built throughout the 1920’s and 30’s. In addition, automobiles were becoming popular at this time. Therefore homes were built with detached garages to accommodate this craze.

Post WW II Denver experienced a housing shortage. Park Hill developers built more homes to accommodate the new growth. The U.S. Supreme Court also ruled that housing restrictions were unenforceable. Residents of other Denver neighborhood sought to make South Park Hill their home. In 1972 the City of Denver divided Park Hill into three sections. As a result much of Old Park Hill became what is now South Park Hill.

South Park Hill Today:

The America Planning Association declared Park Hill among the top ten “great places to live in America” in 2008. This statement still holds true today. South Park Hill is a quiet community, with beautiful old homes, lovely tree lined streets and strong community involvement.

South Park Hill

Where: 
South Park Hill is bounded by East 23rd Avenue to the north, East Colfax Avenue to the south, Colorado Boulevard to the west, and Quebec Street to the east.

Who lives there: 
Married couples make up close to 45% of the neighborhood, singles 38%, and 25% of the households have children. The Annual Residential Turnover in almost 22%.

Retail Areas:
Colfax Avenue
Kearney Street (between 22nd and 23rd)
Oneida Street (between 22nd and 23rd)

Median Sales Price: 
$602,000 for a single family residence (2017)

Main Attractions: 
Beautiful old homes and a family oriented atmosphere.

Common Complaints: 
Lack of upscale restaurants and retail, one of the most expensive neighborhoods to buy a home.

Schools: 
Denver School of the Arts,
Johnson & Wales University
Montview Community Preschool and Kindergarten
Odyssey School of Denver

Local Parks: 
W.H. Ferguson Park

Public Transportation and Bike Lanes: 
Bus lines that run the parameter are the 65, 40, 20, RC, 15, and 15L

South Park Hill has a designated bike route (D8) along Montview Boulevard and the D15 and D17 that are shared bike lanes

Art Venues and Popular Events:
Sweet Studios
Annual 4th of July Parade
Park Hill Home Tour and Street Fair (every September)

South Park Hill


Goodstein, Phil. Park Hill Promise: The Quest for an Idyllic Denver Neighborhood.
New Social Publications. Denver, CO, 2012. Print.

“Park Hill Neighborhood History”
Denver Public Library: Neighborhood History Guides
http://history.denverlibrary.org/park-hill-neighborhood-history

Web.4/2017

Statistical data collected from Metrolist, Inc. RE Colorado – powered by Matrix.

Sloan Lake

Sloan Lake

Sloan Lake

Sloan Lake History:

Thomas Sloan and his wife Sarah staked claim to 160 acres of what is now the Sloan Lake neighborhood in 1862. The Ohio couple moved to Denver in 1959, and ran a bar and boarding house on Larimer Street. The lake did not actually exist on the original homestead. Rumor has it that Mr. Sloan dug a well and woke up the next day to a growing lake. He hit a gusher of a natural spring, ultimately covering 200 acres. Now Sloan Lake is the biggest lake in Denver.

Before his death, Sloan platted the area “Lakeville.” In 1881 an amusement park, Manhattan Beach, opened on the north shore of the lake. It featured hot air ballon rides, elephant rides, boating attractions, a dance hall, a roller coaster and more. The park burned down in 1908, replaced later that year with Luna Park. That amusement park closed six years later after great completion from Elitch Gardens and Lakeside Amusement Park.

Sloan Lake Today:

Sloan Lake is the second largest park in Denver. Attracting many people it boasts, bicycle and jogging paths, boating, fishing, basketball courts, and picnic areas. A scenic neighborhood, it also has an amazing view of the Rocky Mountains.

Sloan Lake

Where:
Sloan Lake is bounded by Sheridan Boulevard to the west, Federal Boulevard to the east, West 29th Avenue to the north, and West 17th and 19th Avenues to the south.

Who Lives There:
48% are single, 33% are married, and 21% of households have children. The Annual Residential Turnover is 19.84%

Retail Areas:
Sheridan Boulevard
Federal Boulevard
West 29th Aveenue

Median Sales Price:
$482,500 for a single family home (2017). Home prices range on average from  $447,000 (condo) to $595,000 (for a detached family home).

Main Attractions:
Sloan Lake and Park (the park covers half the neighborhood), close to downtown but still quiet and relaxing. 

Common Complaints:
Parking can be hard to find in certain areas, many mordern oversize homes are replacing the quaint victorians.

Schools:
Brown Elementary School

Local Parks:
Sloan Lake/ Sloan’s Lake Park
Cooper Lake
Hallack Park
Osceola & 29th Park

Public Transportation and Bike Lanes:
Mass transit is primarily buses running the prameter of the neighborhood. The lines include, 28, 28B, 31, 20, 50, and 51.

D6 is a designated bike lane along 24th Avenue that turns into a shared bike lane route. D8 is a designated bike lane along 17th avenue. Running the peramater of Sloan Lake is an off street trail. D1 is a shared bike lane route.

Art Venues and Popular Events:
Denver Sloan’s Lake Art and Music Festival

Sloan Lake


Goodstein, Phil. Northside Story: Denver’s Most Intriguing Neighborhood.
New Social Publications. Denver, CO, 2011. Print.

Statistical data collected from Metrolist, Inc. RE Colorado – powered by Matrix.