Neighborhood of The Conservatory - Market is Softening

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 

The Neighborhood of  The Conservatory  can be found North of Hampden and between E-470 and Halifax is Aurora CO  80013.    It is very popular with newer homes and homeowners show pride in ownership.

  

Homes in The Conservatory have basements, some are finished, some have mountain views, and were built from 2002 to 2016.  There are ranch models along with two-story and multi-level homes ranging in square footage from 1,387 to almost 3,000 above ground, all with basements.  DR Horton/Continental was the original builder, but now Richmond, Standard Pacific, and Carpace have homes in this neighborhood also.  There are approximately 1,400 homes in this neighborhood.

 

  The Conservatory has been desirable to buyers with its several pocket parks, trails for hiking or walking the dog, it is a pool community, and easy access to C-470 and Denver International Airport or Buckley Air Force Base.   Grocery shopping and many dining options and plentiful retail therapy are within ten minutes.  Southlands Shopping Center is off C-470 and Smoky Hill Road offering not only shopping but a 16-screen movie theater, many dining options, a hotel, Farmers Market in the Summer along with outdoor concerts, and many service providers.

 

Search for homes for sale in The Conservatory here - 

 Active Homes for Sale in The Conservatory

 

What happened in July 2022?

9 homes sold priced from $575,000 to $750,000  (7 last month)

These homes were on the market for an average of 22 days  (last month was 8 days) 

The average sales price was $650,000  (last month was $665,000)

Sellers saw 100% to list price  (last month was 100%) 

 

The Denver metro area has seen a significant increase in listings, and now seeing the days on market increase.   Prices are still holding, but seeing many price reductions each week.

To compare - let's compare numbers to before the interest rates increased.

March 2022 (in The Conservatory), there were 7 sales, average 7 days on market, and Sellers saw 108.2% to list price.    At the time of writing in March, there were 2 listings, today there are 15 listings!

 

 

Here is what all of 2021 looked like - 

Total Sales - 112 sales (92 in previous year)

Average Days on Market - 7 days (17 in previous year)

Average Sold Price $565,500 ($455,500 in previous year)

Sellers saw 102.73% sales price to list price (100% in previous year)

 

 

 

  

 

 

Are we in a housing bubble?   Economists around Denver are saying all the factors say NO.  The unemployment rate has bounced around with COVID, but now the numbers are way down.   Supply and demand continue to remain strong and we are seeing an influx of new residents coming into Denver looking for housing.

  

 

 

If you are interested in homes for sale in The Conservatory or would like to discuss your options to sell, please give me a call.  I live and work in the Aurora area, and am an experienced REALTOR® in this strong Seller's market. 

 

Posted by

Joan Cox
Broker/Owner, REALTOR®
House to Home, Inc.

Serving the Denver Metro area including all suburbs


Helping Buyers and Sellers achieve their real estate dreams, one house at a time!

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Comments (6)

Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Too me Joan, the market is really good, it is just softening to the point that buyers have a bit of time to decide on a listing.

Aug 09, 2022 10:51 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I am reading that markets are softening all over the country. Inflationary pressures are taking a strong market to task Joan 🧐

Aug 09, 2022 05:01 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Joan... that was quite an increase in days on market in July... I'm sure the two interest rate hikes between mid-June and mid-July had something to do with it. That being said, still looks like a solid market to me.

Aug 10, 2022 05:10 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Jeff, not only do they have time to process, but we have more homes to view now!  

Aug 10, 2022 08:00 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Good way to put this market Paul! 

Aug 10, 2022 08:01 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina Hollander, Broker not only the rate hikes, but this time of year is statistically slower after end of June or at least mid-July.   Schools start in many counties 8/8 around Denver, so last vacations, and getting kids ready for school is more on the minds.

Aug 10, 2022 08:02 AM