Digging Deeper: Year-to-Date Zip Code Report | 01.01.23 - 03.31.23

The DMAR Market Trends Committee examined the year-over-year changes in average close price, median close price, number of closed transactions and days in MLS by zip code from January 1, 2023 to March 31, 2023.

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Median Close Price

  •  80465 posted an impressive 14 percent increase in median close price. This area of Morrison, Homestead and Willowbrook can attribute the increase to the new Red Rocks Ranch development. 
  •  Of the 90 metro zip codes, 22 had an increase in median close price while three had no change and 64 posted a decrease.
  •  64 of 90 metro area zip codes posted a year-over-year drop in close price through the first quarter. 

Average Close Price

  • 80113  (Cherry Hills, Logan Park and Broadway Heights) saw a big jump in the average price of 37 percent. Interestingly, the median price for 80113 had a decrease of 1.4 percent. The top 10 sales in 2023 sold for more than $15.6 million compared to the top 10 in 2022. This demonstrates how the big sales in the upper end change the mix.

Number of Closed Transactions

  • 80125 closed 51.3 percent more transactions this year compared to 2022. This significant increase was driven by the increased development of Sterling Ranch. 
  • Only 15 zip codes closed more transactions in the first quarter primarily due to new developments, while 73 saw decreases. 
  • 80203 (Speer, Capitol Hill and North Capitol Hill) had the largest percentage drop (51.4 percent) in closed transactions.  

Average Days in MLS

  • A whopping 87 of the 90 metro zip codes saw a significant increase in days in MLS. 80433 (Conifer) saw a jaw-dropping increase of 777.8 percent or nine days to 79 days.