The real estate market price change map above shows Congress Park home sale statistics and Congress Park real estate trends for October 2010. Congress Park is labeled as Congress North and Congress South on the above map. In this article I will explain what is happening in the Congress Park real estate market.
October 2010 Congress Park Real Estate Market Statistics
- The average days on market (DOM) was 69 days for Congress Park North and 60 days for Congress Park South which is the average time it takes a Congress Park home to sell. This is below average for most neighborhoods in Denver which is good if you are a home seller in Congress Park.
- There was a negative 9.4% price change for Congress Park North and a positive 12% price change for Congress Park South since 2009.
- $359,000 is the current average price of North Congress Park homes for sale and $488,000 for South Congress Park homes for sale as of October 2010.
- 38 homes sold in Congress Park North and 56 homes sold in Congress Park South from October 2009 to October 2010 .
- There are currently 31 active North Congress Park homes for sale and 15 active South Congress Park homes for sale as of October 2010.
- There are 9.8 months of inventory available in Congress Park North and 3.2 months of inventory available in Congress Park South. A healthy market has 6 months of inventory or less which means that the North Congress Park real estatemarket is unhealthy and the South Congress Park real estate market is healthy as of October 2010.
As you can see in the map above, in the Congress Park real estate market, prices have gone down for North Congress Park but up for South Congress Park over the past year. Homes in both areas of Congress Park are not taking too long to sale. South Congress Park is doing better than North Congress Park because it’s in a more desirable area closer to Cherry Creek.
It’s a great time to be a buyer or seller of Congress Park homes for sale. Interest rates are at all-time lows and Congress Park is a great established Denver neighborhood with very nice, larger older homes. Congress Park is very conveniently located near downtown Denver.