CONGRATULATIONS!! You are looking for Denver property AND you have found a way to find top buyers agents who will work for YOU, not the seller! You will love finding a home in sunny and cosmopolitan when moving to Denver, Colorado.
The Best Time to Buy Denver Property
How is the Denver real estate market faring at this time? There will always be upward price pressure on Denver homes due to the great weather, good job markets, and accessibility to many recreational activities in Colorado including snowboarding, skiing, horseback riding, hiking, outdoor music festivals, Red Rock Amphitheater, and much more!
Our Denver buyers agents are experts on Denver property, and property values and there is no better place to get information on the current market in Denver than the local experts. If you would like to begin your search or if you’ plan’re thinking about moving to Denver Colorado, fill in our find an agent form. Or read our blog filled with current Colorado real estate updates.
Colorado Association Members list.
Moving to Denver Colorado—what to know.
- Cost of Living: Although Denver is more affordable than cities like Boston and San Francisco, its housing costs exceed the national average in the United States. The average rent for a one-bedroom apartment is approximately $1,440, varying by neighborhood. Expect higher housing prices in areas like Union Station, Highland, and Five Points, while more affordable options can be found in Lincoln Park and University Hills.
- Weather: Denver experiences all four seasons, with mild winters, warm summers, and relatively low humidity. However, weather can be unpredictable, with sudden temperature changes and occasional snowstorms, particularly in winter.
- Education: Denver hosts several universities and colleges, including the University of Denver and Metropolitan State University of Denver. The city boasts a robust public school system alongside numerous private and charter schools.
- Craft Beer and Dining: Denver is renowned for its vibrant craft beer scene, featuring numerous breweries and brewpubs. Additionally, the city offers diverse culinary experiences, ranging from upscale restaurants to food trucks serving global cuisine.
- Mountain Activities: Denver residents have easy access to outdoor destinations, with numerous options reachable within a two-hour drive. Rocky Mountain National Park, located about an hour and a half away, offers mountains, lakes, wildlife, and the iconic Longs Peak, attracting hikers and campers alike.
- Environment and Physical Fitness: Denver residents prioritize health and environmental sustainability, contributing to the city’s bike-friendly reputation. Despite widespread car ownership, biking is popular, whether for commuting or leisurely rides along the Cherry Creek Bike Path, catering to a diverse range of cyclists.
For those moving to Denver Colorado- here are the things to do:
- Red Rocks Park and Amphitheatre: Delight in a concert amid the breathtaking backdrop of red rock formations or embark on scenic hikes along the park’s trails.
- Denver Art Museum: Immerse yourself in a rich array of artworks spanning cultures and eras, housed within a captivating architectural marvel.
- Denver’s Craft Breweries: Indulge in the city’s flourishing craft beer scene by sampling a variety of locally brewed beers at one of its numerous breweries.
- Denver Zoo: Experience a day of wildlife encounters with over 3,000 animals from across the globe and engaging exhibits suitable for all ages.
- Union Station: Explore the historic Union Station, transformed from a bustling transportation hub into a vibrant destination featuring shops, eateries, and a lively atmosphere
Denver buyers agents provide Key Tips for Homebuyers in Denver in 2024:
- Denver is recognized as one of the most environmentally conscious cities in the United States, boasting extensive parklands, progressive sustainability efforts, and ample sunshine. With its vibrant sports culture and diverse range of activities, Denver offers an outstanding quality of life. For those contemplating about moving to Denver Colorado, here are three essential tips for navigating the local real estate market:
- Discover Your Ideal Location: Denver is a rapidly expanding metropolis with a variety of neighborhoods to explore. Conduct thorough research to pinpoint areas that suit your lifestyle and preferences. Consider proximity to your workplace to minimize commute times during peak hours. Evaluate neighborhood amenities such as schools, shops, and healthcare facilities according to your family’s needs. Additionally, explore nearby outdoor spaces like parks and sports facilities, which promote community engagement and social connections. Find your buyers agent here.
- Establish a Realistic Budget: Before beginning your home search, set a clear budget to streamline the process. Research average property prices in your desired area to understand Denver real estate market trends and ensure financial feasibility. Having a predetermined budget facilitates quick decision-making when encountering suitable properties. Given Denver’s fast-paced real estate scene, it’s crucial to act promptly. Engaging with Denver property managers can offer valuable insights and updates on newly available properties, leveraging their expertise in the local market.
- Plan for Future Expansion: When moving to Denver Colorado, consider potential opportunities for future growth. Determine whether there is room for expansions or interior modifications to accommodate evolving needs. Additionally, monitor community developments, including investments in shared spaces and amenities by local authorities. Stay informed about upcoming real estate projects nearby, as they may impact property values over time. Considering these factors ensures that your home investment aligns with both your current and future requirements.
Why are you moving to Denver Colorado?
When moving to Denver Colorado, consider your specific needs and preferences.
If you’re single and seeking a starter home, contemplate options like condos or townhouses. Data from the Colorado Association of Realtors (CAR) indicates that these properties have a median price of $430,000, which is $160,000 less than the average single-family home priced at $590,000.
For those in search of a spacious residence with a backyard, situated in a desirable school district for children, focus your search on specific Denver areas while considering local pricing trends. For instance, CAR reports that the median price for single-family homes is $615,250 in Jefferson County, comparatively more affordable than Douglas County, where it stands at $680,000.
Regardless of your preferred location, remember to factor in your workplace location as well. The expansive Denver metro area may entail lengthy commutes, so it’s essential to consider proximity to your job when selecting a neighborhood.
How do real estate agents get paid?
While it’s the seller who covers the commission, it’s divided among several parties: the seller’s realtor/agent/broker, the buyer’s realtor/agent/broker, and their respective brokerage firms. These commissions are settled at closing, with the total commission dispersed into smaller percentages, each allocated among the involved realtors/agents/brokers and brokerage firms. To delve deeper into how buyer’s agents get paid, click here for a thorough explanation.
Denver Real Estate Market Statistics:
Denver, the capital and largest city of Colorado, boasts a population of 715,522 residents and is celebrated for its dynamic culture set against the stunning backdrop of the Rocky Mountains.
Recognized for its fiercely competitive housing in the Denver real estate market. Denver has seen a median sale price of $570,000 for homes in recent months.
The city is served by the Denver Public Schools district. Catering to 93,356 students with a student-teacher ratio of 16 to 1.
With an average individual income of $50,642 and an average household income of $78,177. Denver offers opportunities for economic prosperity.
However, if you are first time moving to Denver Colorado, you have to know that the cost of living in Denver is notably higher than the national average. Standing at 27.6% above the rest of the country and seven percent higher than the state average in Colorado.
Denver Housing Market Trends in 2024
- What’s the Current Status of the Denver Housing Market?
In February 2024, Denver Metro’s housing market in 11 counties saw early activity as the buying season began. REcolorado data revealed households’ notable optimism due to expected mortgage rate drops. Driving a 25% increase in inventory from last year and a remarkable 176% surge compared to two years ago. Sellers actively fueled this trend by adding more listings.
- How Competitive is the Denver Housing Market?
Homebuyers were notably active in February, finalizing contracts on 3,454 home listings. The number of pending sale listings in February slightly surpassed the previous year’s figures, indicating sustained interest from buyers. These homes remained on the market for an average of 25 days, reflecting a slight decrease compared to the previous year.
- What’s the Future Market Outlook for Denver?
Looking ahead, the future market outlook seems promising, with certain factors to consider. The price range that witnessed the most activity in February was $500,000 to $600,000, signaling a robust presence in this segment. Moreover, standing inventory, or the number of listings actively available homes for sale in CO by the end of the month, saw a 25% increase compared to the previous February. With 5,218 available Denver CO homes for sale.
- Is It a Buyer’s or Seller’s Housing Market?
Given Denver’s real estate market, it favors sellers as inventory, though rising, fails to satisfy buyer demand, creating favorable conditions for sellers. Nonetheless, for people who are moving to Denver Colorado, buyers are active, fostering competition. Potential mortgage rate drops may further affect the buyer-seller balance in the coming months.
2024 Market Forecast in Denver, CO
For Sale Inventory: As of February 29, 2024, Denver presents a total of 6,862 properties available homes for sale in CO.
New Listings: February 2024 witnessed the introduction of 2,381 new listings into the Denver real estate market, enhancing inventory diversity.
Median Sale to List Ratio: In January 2024, the sale-to-list ratio was recorded as 0.995. Indicating a harmonious balance between listing prices and actual sale prices.
Median Sale Price: As of January 2024, the median sale price in Denver was reported at $539,000.
Avergae List Price: On February 29, 2024, the median list price for homes in Denver reached $590,000.
Percent of Sales Over/Under List Price: In January 2024, 23.2% of sales surpassed the list price. While 52.7% fell below it, underscoring the variability in pricing dynamics.
VIDEO LINKS FOR COLORADO
To access the National Buyers Agents Association Youtube channel. Click here.
The National Home Buying Guide for 2024:
https://youtu.be/a49pIBvcTgg?si=jDy8VMMRxOB-dwLi
5 Critical Home Buying Decisions:
https://youtu.be/7Py4I94I9Ro?si=tB_fBayaffAi2aWP
National Buyers Agents Association’s Interview Servie:
