Is University Park / Observatory Park, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing University Park / Observatory Park is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, University Park / Observatory Park has remained a Seller's Market.

Key Takeaway

University Park / Observatory Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in University Park / Observatory Park, CO

How much do homes in University Park / Observatory Park, CO cost?

Median Sold Price

$1,670,000

$501/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

-$180,000(-9.7%)

Key Takeaway

Homes in University Park / Observatory Park have sold for 9.7% less than they did a year ago.

Summary: The median home sold price in University Park / Observatory Park was $1,670,000 in April 2024, down 9.7% from last year, and the median price per square foot was $501.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $375K$400K
+6.7%
2 $550K$812.5K
+47.7%
3 $838.2K$679.5K
-18.9%
4 $1.4M$1.6M
+11.4%
5+ $2.7M$2.8M
+6.1%

Summary: University Park / Observatory Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 47.7%, 3 bedroom homes decreased by 18.9%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 6.1%.

Housing Supply in University Park / Observatory Park, CO

How many homes are available in University Park / Observatory Park, CO?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2845+60.7%

Summary: The University Park / Observatory Park real estate market had 45 homes for sale in April 2024, a 60.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 34
+33.3%
2 24
+100.0%
3 12
+100.0%
4 1015
+50.0%
5+ 1220
+66.7%

Summary: The University Park / Observatory Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
310+233.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in University Park / Observatory Park, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in University Park / Observatory Park in April 2024, up by 233.3% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% were sold over asking.

Days on Market for University Park / Observatory Park, CO

How long does it take to sell a home in University Park / Observatory Park, CO?

Average Sale Time

Apr 2023Apr 2024CHANGE
56 Days18 Days-67.9%

Summary: Homes in University Park / Observatory Park had an average of 18 days on market in Apr 2024, down by 67.9% compared to last year.

Breakdown of Home Sale Times

8 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 University Park / Observatory Park are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 10 homes were sold in University Park / Observatory Park; 80% of homes were sold within 30 days, 20% 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 19 Days Ago

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