September 2016 Riverfront Recap

 

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The fourth quarter of 2016 has arrived and while the real estate market in Riverfront Park continues to grow, sales in the neighborhood have slowed so far this year. In the first three quarters of 2015, 83 homes had sold in Riverfront Park. Conversely, we’ve seen 67 residential sales year-to-date in the neighborhood. 

Below is a snapshot of the Big Board and a closer look at each of the individual residences sold:

Riverfront Park September Market Report

riverfront Park Denver Market Report

Lower priced units continue to prove to be a hot commodity in both Riverfront Park and the city of Denver, specifically the 80202 zip code covering Denver’s central core. As illustrated in the two tables below, lower priced units tend to sell quicker than their higher priced peers. The trend continues through the $750,000 price level at which point, there is a retracement in Cumulative Days on Market (CDOM). Inventory levels between $750,000 and $1,000,000 are tighter and while the buyer pool may not be as large as the tier below, there are enough individuals in the marketplace seeking higher quality residences to sustain market turnover. In Riverfront Park, the luxury market has softened; this is reflected in two metrics: CDOM and number of units sold. Last year through September 30th nine sales occurred above $1M, two of which were above $2M. Comparatively, this year there have been six sales above $1M, the highest of which was $1,735,000.

Riverfront Denver Market Report

We are amidst the fall selling season which can be productive for buyers and sellers so we’ll keep a close eye on the market and continue to monitor the trends as we approach the end of the year.

As always, if you have questions regarding the real estate market or a single residence in particular, feel free to reach out to me via e-mail, mobile phone or through RiverfrontDenver.com.

Adam Moore
Mile Hi Modern
LIV | Sotheby’s International Realty

 Mobile: 303.956.8069
255 Clayton Street, Unit 100
Denver, CO 80206

Recent Sales Information

See Recent Sales Information for the Past Year in any Riverfront Park Building.

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