Denver Metro – Q1 2019
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.
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 Ceek 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, 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, Saddle Rock Golf Club, Sloan’s Lake, Southglenn, Southern Hills, Stapleton, Tallyn’s Reach, Uptown, Washington Park East, Washington Park West, West Highlands