Real Estate Market Trends in University Park/Observatory Park, Denver

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Q3 Market Trend Report - University Park & Observatory Park

November 2, 2015

Homes for sale in University Park or the Observatory Park neighborhood are some of the most sought after and desired homes in the Denver Metro Area. The current state of the market is comparable to that of the 2007-2008 time frame in terms of selling price for homes in this neighborhood. For Q3 of this year, there were 39 homes sold in University Park/Observatory Park with an average price of $832,117, which is slightly lower than the previous quarter by about 40K.

The average price of the 24 active listings surpassed the previous quarter however, totaling $1,004,867. The average number of days on the market for homes for sale in University Park is a bit longer than other neighborhoods like Hale or University Hills, but the prices are also much higher. On average, the asking price for sold listings was higher than the actual selling price at $857,287.

Looking for more information about homes for sale in Observatory Park? Learn more by browsing our Observatory Park Neighborhood Guide and get to know the area and its surroundings. Our team offers completely one-on-one guidance throughout the home buying or selling process and is here to help you. Contact Elevation Realty to learn more about your desired neighborhood and find the home that is right for you.

University Park Market Trends

This quarter, the University Park neighborhood 31 homes were sold with the average sold price of $870,908 and the average time on the market for sold listings was 44 days. 27 active listings are currently active with the average price of $989,592. Listings under contract had an average prices of $1,057,050 for the 18 recorded. 

The average asking price for University Park homes for sale was $890,152 while the average discount recorded of sold listings was -2.00%. In 2011, the price for homes averaged at $610,000 and has gone up to an average of $720,000 in 2014. The price of homes in this area is still on the rise - contact the experts at Elevation Realty to learn more about the homes for sale in University Park.