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 November 2023

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

$602,500

$526/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$185,000(-23.5%)

Key Takeaway

Homes in Union Station / Lower Downtown have sold for 23.5% less than they did a year ago.

Summary: The median home sold price in Union Station / Lower Downtown was $602,500 in November 2024, down 23.5% from last year, and the median price per square foot was $526.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $650K$462.5K
-28.8%
2 $835K$727K
-12.9%
3 $975K$985K
+1.0%
4 --
N/A
5+ --
N/A

Summary: Union Station / Lower Downtown housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.8%, 2 bedroom homes decreased by 12.9%, 3 bedroom homes increased by 1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

The Commons
-18.9%
Central Platte Valley & Prospect
-19.7%
Union Station / Lower Downtown
-23.5%

Housing Supply in Union Station / Lower Downtown, CO

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

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7881+3.8%

Summary: The Union Station / Lower Downtown real estate market had 81 homes for sale in November 2024, a 3.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 3031
+3.3%
2 4547
+4.4%
3 33
0.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Union Station / Lower Downtown housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.3%, 2 bedroom homes increased by 4.4%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
37+133.3%

Asking Price vs. Sold Price

5 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. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Union Station / Lower Downtown in November 2024, up by 133.3% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% 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

Nov 2023Nov 2024CHANGE
24 Days90 Days+262.9%

Summary: Homes in Union Station / Lower Downtown had an average of 90 days on market in Nov 2024, up by 262.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was 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 November 2024, 7 homes were sold in Union Station / Lower Downtown; 43% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 43% 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 17 Days Ago

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