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.
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.