DENVER REAL ESTATE

Based in Castle Rock, The Meissner Group specializes in Denver real estate.

If you want to see one of the hottest real estate markets in the U.S. set your sights on Denver, Colorado. The Mile-High City is home to low unemployment, low crime, beautiful homes, and plenty to do, why wouldn’t people want to come to Denver? Recent statistics show they’re coming in droves making Denver and its surrounding suburbs one of the fastest-growing metro areas in the country.

Denver at a Glance

Let’s learn more about the Denver real estate market including demographic statistics, cost of living, and all the neighborhoods and suburbs of Denver so you know which areas deserve your attention. It’s difficult to digest the Denver real estate market at a glance but we’ve given you the need to know info.

Denver Real Estate Demographics

  • Population 663,303 (city) 2,932,415 (metro)

  • Median Age: 34.2

  • Married: 44%

  • Families with Children Under 18: 48%

  • High School or Higher: 91.6%

  • Bachelor’s Degree or Higher: 43.53%

  • Homeowners: 53% (Jan 2018)

  • Median Home Price: $422,700

  • Median Income: $76,643

  • Unemployment: 2.5%

  • Driving Distance DTC: 13.2 mi

Takeaways from Denver Real Estate Demographics

Denver is growing and quickly. One of the fastest growing metro markets in the country, the new Denver resident is young, educated, and employed. The entire Denver metro market has seen a boom from downtown Denver, to the surrounding suburbs, all the way north to surging oil and gas towns. While the population is booming, housing hasn’t kept up on inventory, making Denver one of the most competitive real estate markets in the country.

According to cost-of-living resource Best Places, Denver ranks high above the national average index of 100 with a cost of living at 144.2. Denver’s biggest drags come from transportation and you guessed it – housing costs. Out of a national average of 100 Denver scores 225.6 in housing costs.

Denver isn’t a cow town anymore. Denver has everything you would expect of an established major city like fine dining, museums, parks, sports, live entertainment, and much more. Denver residents can watch the Broncos at Mile High Stadium, see a travelling exhibition at the Museum of Art, bike down the Cherry Creek bike path, and so much more. You won’t have a difficult time selling the amenities and attractions found in Denver.

Castle Rock has several shopping options in the local shops of downtown, the sprawling Outlets at Castle Rock, and will soon be home to the Promenade at Castle Rock, a master-planned shopping and entertainment center currently under construction in North Castle Rock.

Castle Rock’s downtown has been transformed over the last ten years. What was once a spot for specialized small businesses is now a mix of shops, restaurants, taverns, and several unique locally owned venues. Within a few blocks, you can have Italian on a patio, delicious hamburgers at a brewery, or bratwurst at a Bavarian-styled beer garden.

Castle Rock is perfect for an outdoors-loving family with several miles of trails and hundreds of acres of green space. Numerous well-maintained parks dot the town, and the newly opened Miller Activity Complex will have you ziplining across Douglas County. Breweries like Burly Brewing Company are popular for the whole family with adult beverages and plenty of games.

Most Popular Denver Neighborhoods

There’s hardly a Denver neighborhood that hasn’t been revitalized or seen a population increase over the last two decades. Neighborhoods that were once industrial like River North (RiNo) or hardly existed at all like Lowry are now open for business. The fastest growing central Denver neighborhoods include:

  • Central Platte Valley – 58% (pop. Growth)
  • Ballpark – 52%
  • Central Business District – 39%
  • RiNo – 38%
  • Golden Triangle – 31%

Most Popular Denver Suburbs

Most Popular Denver Suburbs

This article concentrates on the City of Denver but the seven-county Denver-statistical area has grown with the city. Nearly every Denver-area suburb has seen drastic population increases but realtors need to keep their eye on the most populous and fastest growing neighborhoods.

Denver Suburbs Over 100,000 residents

  • Arvada
  • Aurora
  • Centennial
  • Lakewood
  • Thornton
  • Westminster

Fastest Growing Denver Suburbs

  • Frederick, CO (47.8% (pop growth since 2010)
  • Firestone (38.5%)
  • Erie (36.5%)
  • Lone Tree (35.8%)
  • Lochbuie (31.8%)

Denver’s Most Affordable Neighborhoods

If you’re trying to avoid the worst of the hyper-competitive Denver real estate market look at the Mile-High City’s most affordable neighborhoods:

  • Indian Creek – Median Home Price: $282,729
  • Montbello – $285,448
  • Mar Lee: $291,033
  • Ruby Hill: $308,958

Signs the Times are Changing for Denver Real Estate

Denver’s housing affordability issues are no secret. With low inventory, a growing population, and few new construction projects, affording a standard home in Denver and its surrounding neighborhoods is tough, but new reports suggest the Denver real estate market might be leveling out. May 2019 saw more homes for sale in Denver than any month since 2013 and forecasts from the Home Buying institute show smaller price gains through 2020. Despite the forecasts Denver is currently a hot seller’s market.

Buying Real Estate in Denver

Here’s a great question if you want to invest in Denver real estate – what are you going to buy? The current Denver housing market has seen extremely low inventory over the past several years making finding and purchasing a home a highly competitive process. Rapidly developing markets like Lone Tree and Broomfield make a competitive environment even more cut-throat.

If you’re able to find a worthwhile home or property expect to pay much higher than the national average as we learned above and expect plenty of competing bids including cash offers. There are two important words for buying Denver real estate – good luck.

Selling Real Estate in Denver

It’s not difficult to sell real estate in Denver due to the low inventory. Inventory numbers vary from around 2000 to 4000 available homes depending on the listing agency, but that’s remarkably low for an expanding city. Below we’ll learn if the Denver housing market is turning but the city’s neighborhoods and suburbs are undoubtedly seller’s markets.

If you’re selling real estate in Denver, you can look to quick cash offers for the fastest process or higher-than-asking prices for a sizeable profit. The hardest part of selling Denver real estate is getting your hands on enough inventory.

Closing the Deal in Denver

Like the Rocky Mountains surrounding the city, Denver real estate has plenty of peaks and few valleys. Every Denver neighborhood and suburb is competitive, so expect low inventory and competitive bids if you put a home in the market or are looking to buy. For now, Mile-High real estate provides excellent opportunities for sellers and developers – if you can get your foot in the door.