Top Denver Neighborhoods in the First Half of 2017

Top Denver Neighborhoods in the First Half of 2017

Denver is still in a deep seller’s market. Lack of new inventory and continued buyer demand are keeping things tight as we go into the third quarter. The only cool down coming in the second half of 2017 is fall!

Union Station - LoDo | Denver, Colorado | Love Your Hood®
Union Station (LoDo) | Denver Neighborhood with the Most Expensive Square Footage

The Most + Least Expensive Denver Neighborhoods

When compiling the most expensive and affordable Denver neighborhoods, we found it helpful to analyze the list two different ways: one based on the median sales price and the other based on price per square foot. Why? When you think Country Club, you think of large houses and decent size lots. While this neighborhood boasted the highest median sale prices in the city, it doesn’t have the highest price per square foot. Instead, if you want to know the most expensive prices per square foot of real estate, check out the second list. Think of more urban, densely populated neighborhoods for this. While these homes may not be as large, each square foot of them is more expensive.

Based on Median Sale Prices

Don’t feel bad if you are scratching your head and saying to yourself, “Auraria, really?” We did the same thing, so we dug into the numbers to see what was up. This hood only has a few housing options, all of which are loft/condo units. With only four sales in the last six months (and one of them going for $1.9 million), there isn’t enough data to give a great representation of this neighborhood. We don’t expect to see it on the list next quarter.

Most Expensive + Most Affordable Denver Neighborhoods | Q2 2017 | Love Your Hood®

Map of Median Sale Prices by Denver Neighborhood (Q2 2017)

The map below sorts neighborhoods based on their median sale price for the second quarter of 2017. It’s a great tool to use when determining neighborhoods to focus on for your home search. Clicking on an individual neighborhood will show you the median sale price for that particular neighborhood.

View map in larger screen here.

Based on Average Price per Square Foot

Typically, neighborhoods with higher percentages of condos dominate this list, but we are seeing more neighborhoods with predominately single-family homes starting to run the show. This is proof that square footage in Denver is getting expensive everywhere, not just in the downtown neighborhoods.

Priciest + Cheapest Square Footage by Denver Neighborhood | Q2 2017 | Love Your Hood®

Map of Average PSF for Residential Real Estate by Denver Neighborhood (Q2 2017)

Lots of red! As prices increase, so does the sea of red!

View map in larger screen here.

The Fastest + Slowest Selling Denver Neighborhoods

No surprise that homes in more affordable neighborhoods move faster! Expensive homes take more time to sell since there’s a smaller pool of buyers looking for them versus homes priced less than $300K. Why is Jefferson Park sitting at the top of this list as the slowest moving neighborhood? It’s gone through a builder boom and the surplus inventory has increased the time it takes properties to sell.

Fastest + Slowest Selling Denver Neighborhoods | Q2 2017 | Love Your Hood®

Map of Average Days on Market for Denver Neighborhoods (Q2 2017)

Pretty easy to spot Jefferson Park, right?!?

View map in larger screen here.

The Denver Neighborhoods with the Greatest + Least Price Appreciation

Some big winners and losers in the last six months. It’s important to note that this is a relatively short time period to consider. Keep in mind that over the last five years, every Denver neighborhood has seen home prices appreciate (anywhere between 13-646%!). The only exception is Kennedy. And Kennedy is an odd neighborhood for compiling sales stats as it’s mostly rental units (only 116 properties have sold there since the beginning of 2012; the typical neighborhood has seen 915 properties change hands during the same time period).

Greatest + Least Price Appreciation by Denver Neighborhoods | Q2 2017 | Love Your Hood®

Map of 6-Month % Change in Median Sale Price for Denver Neighborhoods (1st Half 2017)

The majority of neighborhoods are seeing increasing sales prices. Less than 20% are experiencing a price correction.

View map in larger screen here.

The Denver Neighborhoods with the Most + Least Amount of Housing Inventory

More affordable homes sell FAST. That is all.

Greatest + Least Housing Inventory by Denver Neighborhoods | Q2 2017 | Love Your Hood®

Map of Housing Inventory by Denver Neighborhood (Q2 2017)

The entire county is in red because every single neighborhood is in a seller’s market!

View map in larger screen here.

All statistics compiled from REColorado.

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