2012 Denver Real Estate Statistics – Washington Park (East)

Two reasons why East Washington Park’s real estate performance shockingly dipped from 2011 to 2012:

  1. Wash Park is so far ahead of the curve in terms of Denver real estate that the tony east-side neighborhood actually experienced its 2012 in 2011 (take a minute), and there’s no way any neighborhood could hold this kind of momentum.
  2. It didn’t.

I may have gotten some of you to think #2, since you wouldn’t expect deception from this blog. And you would be right.

East Wash Park has always been the bellwether of Denver real estate, and people tend to freak out if Wash Park starts to tank. I’m here to tell you: you may continue with the good times.

Since 2010, average sales prices in East Wash Park have hovered between $650,000-$670,000. That part is no surprise. Check last year’s East Wash Park wrapup. Average prices in 2012 ticked up to $654,000 from $650,000 in 2011, and the price per square foot has crept ever closer to the $400/PSF, finishing 2012 at $394/PSF.

And, just to brag, 12 of the last 14 Wash Park homes that sold in 2012 went under contract in less than 30 days. Nine of those sold in less than a week. Boom.

A few trends from 2012:

  • the 76 homes that sold in East Wash Park is more of an indication of the low inventory than ability to sell. That’s not much of a stretch.
  • Lots that sold in East Wash Park hovered around 5422 SF, which shows a trend toward scrapes (double lots are 6250 SF), putting an emphasis on yard size with the house.
  • Only one half-duplex sold in 2012.
  • Days on Market averaged 47 days, still a month under the city average. That number included 13 homes that sat on the market for more than 100 days.

What can I say? Don’t mess with East Wash Park.

Karl Lueders is a Denver Metro Association of Realtors Million-Dollar Roundtable honoree, as well as a 5280 Five Star Realtor. He can be found in traditional ways: if Twitter, G+ and LinkedIn are the new traditions. Calling Karl Lueders 720-971-8267 also works. Especially if you’re planning on living in or leaving Washington Park.