There are many benefits to living in Colorado. Within the United States, Colorado has been ranked the second highest in well-being, and employed adults are healthier than working adults in most other states. Colorado also has spectacular scenery and a wide variety of recreational activities —with ten national parks, 42 state parks, 26 world class ski resorts, and 35 additional recreational venues for winter activities. Add in the arts and cultural sites and temperate climate, there isn’t a question as to why people from all over the world are attracted to Colorado.
In addition to all the benefits as mentioned above, there are a variety of unique neighborhoods to choose from in Colorado. The real estate market for Denver Metro is a hot area with the panoramic mountain views, a strong economy, dynamic restaurants, and entertainment options—people want to live in Denver, and they are proud to call this innovative place their home. While the average price for living in the Denver Metro area has increased from 2017 to 2018, the overall dollar value of the homes sold has also increased. This means that whether owning or buying a home, the average price for the whole Denver Metro area has increased.
A recent Colorado market report analyzed 54 neighborhoods and found overall increases in the average price, increases in the number of properties sold, and also decreases in the average days a home was on the market. A couple of notable, exciting results found in comparison from 2017 to 2018:
• The Golden Triangle neighborhood: 31.2% increase in the average price from $465,492 to $610,718.
• Bell Mountain Ranch and Ken-Caryl North Ranch neighborhoods: increase of approximately 50% for properties sold
In addition to the two results above, many other neighborhoods in Colorado saw decreases in the average days on the market. Interestingly, four neighborhoods had reductions for the average amount of days a home was on the market of 40% or more from 2017 to 2018. These neighborhoods are Cherry Creek East & South, Heritage Greens, Pradera & Timbers, and Uptown. Out of these, Uptown had the most significant decrease of 59.5% for the average days a home was on the market, which means that a home was only on the market for an average of 32 days in 2018.
These exciting results will benefit not only buyers but also sellers in 2019. Metro Denver has been and will continue to be an incredibly popular market.