Is Union Station / Lower Downtown, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Union Station / Lower Downtown is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, Union Station / Lower Downtown was a Neutral Market.

Key Takeaway

Union Station / Lower Downtown is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Union Station / Lower Downtown, CO

How much do homes in Union Station / Lower Downtown, CO cost?

Median Sold Price

$795,000

$532/sqft

Based on all homes sold in May 2024.

Difference Since Last Month

+$20,000(+2.6%)

Key Takeaway

Homes in Union Station / Lower Downtown have sold for 2.6% more than they did a month ago.

Summary: The median home sold price in Union Station / Lower Downtown was $795,000 in May 2024, up 2.6% from last month, and the median price per square foot was $532.

Median Sold Price By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 $565K$465K
-17.7%
2 $858K$795K
-7.3%
3 $912.5K$985K
+7.9%
4 --
N/A
5+ --
N/A

Summary: Union Station / Lower Downtown housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes decreased by 17.7%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes increased by 7.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Barclay Towers
+50.5%
Union Station / Lower Downtown
+2.6%

Housing Supply in Union Station / Lower Downtown, CO

How many homes are available in Union Station / Lower Downtown, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6069+15.0%

Summary: The Union Station / Lower Downtown real estate market had 69 homes for sale in May 2024, a 15.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 2228
+27.3%
2 3135
+12.9%
3 76
-14.3%
4 00
0.0%
5+ 00
0.0%

Summary: The Union Station / Lower Downtown housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.3%, 2 bedroom homes increased by 12.9%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
95-44.4%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Union Station / Lower Downtown, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Union Station / Lower Downtown in May 2024, down by 44.4% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.

Days on Market for Union Station / Lower Downtown, CO

How long does it take to sell a home in Union Station / Lower Downtown, CO?

Average Sale Time

Apr 2024May 2024CHANGE
99 Days40 Days-59.7%

Summary: Homes in Union Station / Lower Downtown had an average of 40 days on market in May 2024, down by 59.7% compared to last month.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Union Station / Lower Downtown are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 5 homes were sold in Union Station / Lower Downtown; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

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