The Glass House at Denver’s Riverfront Park
The Glass House is a high-end condo completed along the Denver Lower Downtown (LoDo) Riverfront area across from Riverfront Park. It’s an impressive community and is more than a condo, it’s a lifestyle with a daily breakfast buffet, rooftop pool area with outdoor fireplace, and gym, among the many amenities. Units in the Denver Glass House condo started closing in June 2007, making it one of the newer Denver LoDo developments that finished before the credit crunch hit the development market.
As of Oct 21, 2008, there are 27 condos currently for sale in the Glass House, with 6 coming on the market in the past 2 weeks. The average list price for these LoDo condos is $602,298, which works out to $486.67 per square foot. There are currently 4 units under contract and 1 sold in the past 30 days. In the previous 30 days before that, 1 unit sold with 13 sales total in the past 120 days.
Due to the lower number of sales and in order to increase of the diversity of our sales statistics, we’re going to look at the 13 homes sold in the past 120 days. The average time on market for these condos is 172 days with an average sale price of $411.75 per square foot. The ratio of sales price to original list price is 91.3%.
By looking at the properties currently for sale, we’re seeing non-resident owners, or investors, selling condos in the Glass House. At current activity levels, we’re looking at 9-24 MONTHS of inventory available. Some units for sale are being offered with a profit margin built in while there are many units that are selling to break even. Be on the lookout for good deals in the Glass House since there’s little appreciation growth for investors at this time and they’re moving out.
Click here to see what’s currently for sale in the Glass House.
To get information on how to get your Glass House condo sold, including a free market valuation, contact us.
 |
 |
Comments on this entry are closed.