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 neutral's market

Buyer's
Market

Difference Since April 2023

At the same time last year, Union Station / Lower Downtown was a Buyer's Market.

Key Takeaway

Union Station / Lower Downtown is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Union Station / Lower Downtown, CO

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

Median Sold Price

$764,888

$539/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$35,111(-4.4%)

Key Takeaway

Homes in Union Station / Lower Downtown have sold for 4.4% less than they did a year ago.

Summary: The median home sold price in Union Station / Lower Downtown was $764,888 in April 2024, down 4.4% from last year, and the median price per square foot was $539.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $650K$462.5K
-28.8%
2 $857.8K$836K
-2.5%
3 $1.4M$1.0M
-30.7%
4 --
N/A
5+ --
N/A

Summary: Union Station / Lower Downtown housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.8%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 30.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Barclay Towers
+33.5%
Central Business District
+3.7%
Union Station / Lower Downtown
-4.4%
Central Platte Valley & Prospect
-8.8%
The Commons
-12.0%

Housing Supply in Union Station / Lower Downtown, CO

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

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
4956+14.3%

Summary: The Union Station / Lower Downtown real estate market had 56 homes for sale in April 2024, a 14.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 1619
+18.8%
2 2830
+7.1%
3 57
+40.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Union Station / Lower Downtown housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.8%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 40%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was 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. 77.8% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Union Station / Lower Downtown in April 2024, up by 80.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% 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 2023Apr 2024CHANGE
55 Days99 Days+79.0%

Summary: Homes in Union Station / Lower Downtown had an average of 99 days on market in Apr 2024, up by 79% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 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 April 2024, 9 homes were sold in Union Station / Lower Downtown; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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 8 Days Ago

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