Denver Rankings

Denver Real Estate News Recap: April 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Lack of crime, quality of public schools, cost of living, job opportunities, and local amenities placed 11 Denver neighborhoods among the top 25 places to live in Colorado, according to Niche.

+ Neighbors in Governors’ Park are banding together to encourage responsible growth as buildings considered landmarks are being torn down to make way for high-rise apartments.

The premium over list price is at an all-time high (think 104.1%) as more metro Denver buyers will pay whatever it takes to get under contract.

The 20 hottest real estate markets in the Denver metro area saw median home prices increase anywhere from 20% to a whopping 79% in 2020.

 

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Denver Real Estate News Recap: February 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ Denver’s widespread broadband access, wage growth, and booming tech industry placed us as the 11th best-performing large city according to Milken Institute. Rising housing costs could hamper our future performance.

+ As the Denver metro area becomes the most expensive outside of coastal areas, first-time homebuyers have a tough time landing their first place. With a 32% decline in available listings between the third and fourth quarters of 2020, the 2% decline in average list price isn’t helping enough.

+ The number of homes for sale in Denver is at 14.9% the average amount for the end of February. This historically low amount is causing listings to sell in a median of five days, compared to 15 days a year ago.

 

 

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Denver Real Estate News Recap: January 2021

Here’s a quick digest of what happened in Denver real estate last month:

+ 56% of economists think the Denver housing market will outperform the national average this year, hoisting our city to one of the top five hottest markets for 2021.

+ Some local economists believe the Denver housing market is running out of gas. They said, “while new home sales should match the pace of 2020, existing-home sales this year will fall and price increases in the months ahead will be more subdued.”

+ Our opinion? 2021 is likely going to be a fast-paced, appreciating market on all fronts.

+ Denver is the third hottest market for millennial homebuyers, ranking behind only San Jose and Boston. A whopping 59% of all Denver-area homebuyers in 2020 were from Gen Y.

 

 

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Denver Real Estate News Recap: December 2020

Happy New Year! Here’s a quick digest of what happened in Denver real estate last month:

+ Renofi is projecting that the average price of a home in Colorado will reach $763,309 by 2030, making us the 4th most expensive state after California, Hawaii, and Washington.

+ Denver ranks 8th in cities with the highest inflow of new residents during the pandemic.

+ Local restaurant owner Josh Wolkon shares how you can help save local restaurants.

 

 

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The cost of entry to Denver home ownership

Source: Bill Hethcock and Denver Business Journal Staff of the Denver Business Journal

John Burns Real Estate Consulting has analyzed 130 metro areas in the United States for what percentage of their residents can afford an entry-level home in that metro. The report considered a home priced 20% lower than the median in that area as entry level and assumed a 5% down payment. It features an interactive infographic which allows you to compare Denver with other major metros across the country! Denver, with 50.2% of it’s residents able to afford a home in this range, is much more affordable than cities like San Francisco (11%), NYC (36%) and Boulder (40%), but less so than Boston (51%) and Chicago (59%) and several other metros.

Just how big is the barrier to entry to owning a home in Denver? Here are some numbers for the five most expensive zip codes in the city:

Cost of Entry in Denver's Most Expensive ZIP Codes

ZIP CodeDenver Neighborhoods within ZIP CodeMedian Home ValueMonthly Mortgage PaymentMinimum Salary Required
80238Stapleton$592,600$2,989$119,579
80210Platt Park
Rosedale
University
$603,900$3,046$121,860
80230Lowry$626,300$3,159$126,380
80206Congress Park
Cherry Creek
$664,800$3,354$134,148
80209Wash Park$724,900$3,657$146,276

Looking for a neighborhood that’s more friendly to your pocketbook? Reach out to our team and we’d love to help you find your next place.

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