Micromarket Reports

Denver Metro is a hub for urban adventures, budding and booming businesses, nature lovers, city slickers, and everyone in between. Since it has a little something for everyone, it’s no wonder Denver was named the second-best city to live in within the U.S. by U.S. News. The unique assets of Denver Metro have attracted people from across the county and across the world to migrate to the Mile High City, creating a favorable environment for home buying and selling.

LIV Sotheby’s International Realty (LIV SIR) reports on the Denver Metro real estate market, sectioning into 57 neighborhoods. Collectively, comparing the year-end results of 2019 to that of 2018, new listings increased by 3.8%. The number of new listings that came onto the market during 2019 totaled 64,542, compared to 2018 when the total new listings amounted to 62,203. These additional new listings likely contributed to the 7.8% rise in total dollar volume sold throughout the course of 2019. These metrics illustrate the health of the market as we reflect on 2019 and continue into 2020.

Within the 57 neighborhoods that make up Denver Metro, there were specific market changes that should be noted. Cherry Creek North, a community loved for its proximity to the amenities of downtown Denver while maintaining a quiet residential reputation, saw an impressive 47.8% increase in properties sold in 2019 as compared to 2018. The average days on market for the Golden Triangle neighborhood dropped dramatically by 85.8% from 430 days in 2018 to just 61 days in 2019. Further south, average home prices in Lone Tree have grown 28.2% since last year. The average price for a home in 2019 was $873,140. Overall, there are plenty of opportunities throughout Denver Metro for sellers to reap the most dollars out of their investment in a home, as prices in many micro markets are steadily increasing.

This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Baker, Belmar, Bell Mountain Ranch, Berkeley, Bonnie Brae, Belcaro, Bow Mar, Capitol Hill, Castle Pines North, Castle Pines Village, Cheesman, Cherry Creek, Cherry Creek North, Cherry Hills Village, City Park, City Park, Cory-Merrill, Columbine Valley, Congress Park, Country Club, Crestmoor, Downtown (condos), Golden Triangle, Greenwood Village East, Greenwood Village West, Hale Mayfair, Heritage Greens, Highland, Highlands Ranch, Hilltop, Homestead, Jefferson Park, Ken-Caryl North Ranch, Keen Ranch, Ken-Caryl Valley, Lakewood, LoHi, Lonetree, Lowry, The Meadows, Montclair, Observatory Park, Park Hill, Platt Park, Polo Reserve, Pradera & Timbers, RiNo, Saddle Rock Golf Club, Sloan’s Lake, Southglenn, Southern Hills, Stapleton, Sunnyside, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, and West Highlands.

Consistently ranked as one of the best places to live, Denver Metro offers an unbeatable lifestyle with ideal weather, panoramic mountain views, and regularly added trendy restaurants and entertainment. Plus, a strong economy continues to drive people from out of state to call Denver their home.

LIV Sotheby’s International Realty reports on the Denver Metro real estate market, sectioning into 54 neighborhoods. Collectively, comparing the results of Q1 of 2019 to that of 2018, new listings increased by a notable 5.7%. This increase led to almost 15,000 new listings so far in 2019. Average price also increased by 2.1% and total dollar volume sold increased by 1.7%. These three increases show a healthy and active market for Denver Metro as we head into the spring and summer months of 2019

Across the 54 neighborhoods there are notable increases in average price and decreases in average days on market, proving that 2019 is off to a very active start. Cheesman (including single family and condos) saw an impressive 47.3% increase in average price to $614,695 in 2019, as well as a 11.8% increase in average price per square foot to $391. Downtown (including condos) saw an astounding 48.7% increase in average price to $860,052 in 2019 and a 14.6% drop in average days on market to just 88 days in 2019. Golden Triangle also saw an impressive jump in average price by 34.8% to $790,833 in 2019. Many other neighborhoods also reported similar increases in average price as well as significant decreases in average days on market, resulting in a wonderful market for sellers to benefit.

With the increase of Denver Metro buyers both within and outside of the state, buyers should be prepared to act quick when their Denver dream-home is found. The initial start to 2019 anticipates a very busy year for both buyers and sellers as Denver Metro has proven to be, and will most likely continue the path to be, an extremely hot market.

The Colorado real estate market performs quite differently than the national average. Even in an area the size of metro Denver, market trends can vary dramatically from neighborhood to neighborhood. When you are contemplating as large a financial commitment as the purchase or sale of a home, micro-market data on your neighborhood can make a big difference.

LIV Sotheby’s International Realty compiles quarterly and year-end reports of micro-market statistics to help you make better real estate decisions. Contact your LIV Sotheby’s International Realty broker today or email info@livsothebysrealty.com for a printed copy of our Micro Market Reports.

The Colorado real estate market performs quite differently than the national average. Even in an area the size of metro Denver, market trends can vary dramatically from neighborhood to neighborhood. When you are contemplating as large a financial commitment as the purchase or sale of a home, micro-market data on your neighborhood can make a big difference.

LIV Sotheby’s International Realty compiles quarterly and year-end reports of micro-market statistics to help you make better real estate decisions. Contact your LIV Sotheby’s International Realty broker today or email info@livsothebysrealty.com for a printed copy of our Micro Market Reports.