Denver Metro | Year End 2019
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.