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 October 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

$600,000

$532/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$200,000(-25.0%)

Key Takeaway

Homes in Union Station / Lower Downtown have sold for 25% less than they did a year ago.

Summary: The median home sold price in Union Station / Lower Downtown was $600,000 in October 2024, down 25% from last year, and the median price per square foot was $532.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $603.5K$462.5K
-23.4%
2 $837K$750K
-10.4%
3 $1.0M$985K
-1.5%
4 --
N/A
5+ --
N/A

Summary: Union Station / Lower Downtown housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.4%, 2 bedroom homes decreased by 10.4%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

Central Platte Valley & Prospect
-5.7%
Central Business District
-10.0%
The Commons
-14.3%
Union Station / Lower Downtown
-25.0%

Housing Supply in Union Station / Lower Downtown, CO

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

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7587+16.0%

Summary: The Union Station / Lower Downtown real estate market had 87 homes for sale in October 2024, a 16.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 3535
0.0%
2 3849
+28.9%
3 23
+50.0%
4 00
0.0%
5+ 00
0.0%

Summary: The Union Station / Lower Downtown housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.9%, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
440.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 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. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Union Station / Lower Downtown in October 2024, the same as the previous month. Of the 4 sold homes, 100% were sold under asking, 0% 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

Oct 2023Oct 2024CHANGE
94 Days83 Days-12.1%

Summary: Homes in Union Station / Lower Downtown had an average of 83 days on market in Oct 2024, down by 12.1% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was 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 October 2024, 4 homes were sold in Union Station / Lower Downtown; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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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