Denver Housing Market Trends

Denver real estate -- Denver, Colorado and the greater metro area -- is the hottest market in the United States right now. A 2015 mid-summer report had Denver, Aurora and Lakewood atop the national list of housing markets. Denver real estate is hotter than any California, Texas, New York or Florida and has been at or around the top for more than a decade. The greater metro area of Denver is a seller's dream. But, it is a mistake to think that buying in one of the uber-trendy Denver locals is a bad idea just because the market is booming. Over the last 20 years, Denver has proven that it will generate equity quickly regardless of almost any purchase price. The first reason is that there is little real estate to be had in downtown and the surrounding area. As such, real estate prices in Denver rarely fall, almost always growing in value. As, Denver -- Colorado in general -- continues to grow in popularity, buyers are forced to realize that there is rarely a buyer's market or a perfect time to buy in Denver. Denver and Colorado simply have too much to offer for prices to nose-dive. While one would assume that Denver's popularity stems from its close proximity to the mountains and recreation areas of Colorado, it is actually Denver itself that is the draw. Forbes Magazine ranked Denver as the second best city in which to launch a startup. The same magazine ranked Denver #1 on its list of 2015's "Best Places for Business and Careers." Investing in Denver real estate puts a buyer in one of the strongest corporate markets in the country.

Breakdown of Denver and Metro Areas

Denver Proper and the Capitol Hill Area

Denver proper and the Capitol Hill Area two of the city's least homogeneous areas. Similar to one another, they are a combination of both the high and low ends of the Denver real estate market. These areas have several neighborhoods consisting of homes built during the turn of the last century, both large and small houses. Many of these homes provide a sound opportunity for those hoping to buy a home for cheap, renovate, and sell quickly. A speculator can scoop up two, three and four bedroom homes with the promise of a reasonable equity bump on a minimal investment.

Cherry Creek

Traditionally, and still today, the most expensive area in Denver and the metro area is Cherry Creek. It consists of mansions previously owned by the likes of the "unsinkable" Molly Brown. The most exclusive shopping in Denver can be found in the Cherry Creek North Shopping District and the Cherry Creek recreational path is over 22 miles long. The recreational path takes a course alongside the South Platte River through Downtown Denver, Lower Downtown (LoDo) and ends just below the river's whitewater park, "Confluence." The Cherry Creek neighborhood is Denver's most affluent.

Washington Park

Another upper-middle class neighborhood in Denver County is the Washington Park Neighborhood. With two lakes and 155 acres of well maintained grounds, "Wash Park" is extremely popular with both the younger generations and retirees. Unlike many of the Denver County neighborhoods west of I-25, each house in the Washington Park Area is unique in both size and appearance. For those hoping to find a condominium or apartment, Wash Park has an abundance of smaller residential options as well.

The Highlands

The Highlands mark the center between Arvada to the north, Denver to the East, Golden to the west and Lakewood to the south. The main thoroughfares through the Highlands is 38th Avenue and Federal Boulevard. This area consists of smaller brick and mortar homes that were built at the beginning of the 1900s. Denver's dry climate has left most of these homes in great condition meaning they are great for remodel projects. The Highlands are less than five minutes from LoDo and ten from downtown with the exception of workday mornings and evenings when traffic congestion slows travel. For people looking for a safe area that is close to the downtown action, the Highlands are a great option.

Arvada

A similar setting to that of the Highlands, Arvada is a middle-class area, but with mostly stick-frame homes built in the 1960s, 70s, and 80s. Arvada is far enough from Downtown that the community has a different flavor than those found in Denver County and the surrounding neighborhoods. Without the bustle of the big city, Arvada still has somewhat of a small town vibe. With a solid school system and low crime rates, Arvada is perfect for the young family looking to settle down or the retiree hoping to be within driving distance of the great outdoors.

Lakewood

Well removed from the center of Denver, Lakewood is a well-to-do area that has a middle to middle-upper class feel. Lakewood has easy thoroughfare access to the foothills and mountains; is very progressive with respect to shopping and dining and also has an arts and theater presence. In the Denver Area, with the exception of Cherry Creek, Lakewood has the most consistent real estate values. A purchase in Lakewood is generally a sound decision.

Aurora

The Aurora area exploded in popularity following the 1995 closure of Stapleton Airport. A product of intelligent-expansion/anti-sprawl development policies, Aurora has a large number of public recreation areas including three off-leash dog parks including the Cherry Creek State Park Off-Leash Dog Area which is over 100 acres. With the development of Gateway Park, Aurora has its own dining and entertainment sector, one of the newest and most progressive in the Denver area.

Denver Real Estate Market History

Even when the rest of the country sees real estate prices plummet, Denver has a tendency to continue climbing or -- at the least -- remain steady. According to Denver Real Estate Watch, home prices have only fallen once in 35 years and only for a two-year span from 2008 to 2009. As if to make up for the embarrassing dip, Denver real estate reached historic highs this summer rising at a faster rate than any other major city in the country according to the Denver Post. While Denver has a wide variety of homes to choose from, the prices are high. Even for a median priced home, a person requires and income of at least $60,000 per year to afford the loan payments. The popularity of Denver has made it the 9th most expensive city in the country to buy a house in according to Westword. But, if a person can afford to buy a house, Denver has proven that it will show investors a return on their money. The Denver real estate market offers everything from mansions to one bedroom apartments and everything in between. From houses built at the turn of the last century to some of today's more impressive residential architecture, Denver has a home for just about anyone's liking.