Less inventory means home sellers have more power. As compared to last month, sales saw a 13% decrease. Extremely low amounts of inventory helped sellers to move their properties quickly in the $300,000 to $399,000 price range. https://www.mashvisor.com/blog/why-where-invest-denver-real-estate https://crej.com/news/airbnb-31-billion-gorilla-room Additions to the local labor force tend to drive rents and prices up on properties in the vicinity and results in local construction of homes and apartments. It has a bright future, and it is poised for rapid appreciation and increasing rental rates. The foot hills of denver, co is the place to go . https://www.recolorado.com/market-statistics/market-watch.aspx According to RENTCafe, 151,260 or 51% of the households in Denver, CO are renter-occupied while 143,098 or 48% are owner-occupied. The college market presents a unique opportunity for landlords. New listings increased by a massive 89.27 percent from the month prior. In April, the median sales price of all residential properties increased by 2.56 percent to $400,000. There was 82,000 square feet of negative net absorption in the second quarter of 2020, compared to 1,800,000 square feet of negative net absorption in the third quarter of 2020. Management, Vendor It is the largest and capital city of Colorado, home to roughly 700,000 people. The historical change in home prices for Denver-Aurora-Lakewood, CO is shown below for the three-time period. We strive to set the standard for our industry and inspire others by raising the bar on providing exceptional real estate investment opportunities in many other growth markets in the United States. Directory, Utility Even as Denver home prices have reached new heights, the market remains attractive to residential real estate investors in the $300,000 to $399,000 price range. The Denver area’s unemployment rate is less than 3%. Westwood, where the average rent goes for $1,010/mo. It is home to several major businesses and corporations. While there are houses in the hills, it is a lot harder to build on the mountainous landscape than on flat plains. Downtown is the most walkable neighborhood in Denver with a Walk Score of 93. Let us know which real estate markets in the United States you consider best for real estate investing! And the average interest rate on a 30-year mortgage was around 3.58%, according to Freddie Mac. After a remaining almost flat throughout 2019, with a mere 1% rise in prices, the Denver housing market was showing little signs of gains. The percent of Denver homeowners underwater on their mortgage is 4.7%, which is higher than Denver-Aurora-Lakewood Metro at 3.9%. You can also view available properties for … Market information is pulled by month. In the Denver Metro Area this May, 3,437 homes closed, a year-over-year decrease of 44%. The homebuyers won’t be able to outbid real estate investors and would end up renting. They said that any single-family home in the Denver housing market could be considered a good rental property due to the rapid rise in home prices. Class A asking rents are expected to increase 2.6% this year and 1.9% in 2020. It is also home to mining and energy companies such as Halliburton, Smith International, Newmont Mining, and Noble Energy. According to REcolorado's (state's largest network of real estate professionals) June 2020 report, the average price of a home in the Denver metro area was $508,951, a year-over-year increase of 2%. ... access the industry’s most accurate and reliable rent and occupancy data, explore potential investments and compare properties to the competition. That protects your investment in the Denver housing market. Another popular neighborhood and expensive neighborhood in Denver is Cherry Creek where the median home price is around $898,000. Denver was ranked as the country's 16th-most walkable city, with 600,158 residents. But in 2019, it clearly experienced a cooling trend where home values appreciated by a mere 1%. https://www.dmarealtors.com One-bedroom apartments in Denver rent for $1429 a month on average (a 3.22% decrease from last year). https://businessden.com/2018/08/27/50-of-airbnb-landlords-ignore-denver-rules-taxes-in-booming-100m-industry, Growing rental market The highest annual change in the value of houses in the Denver Real Estate Market was 29% in the twelve months ended with the 2nd Quarter of 1978. The second-quarter report from Bruteig’s Apartment Appraisers & Consultants shows: The average monthly rent in an apartment rose to a record $1,454 in the Denver area. Four of the seven counties in Metro Denver reported an over-the-year increase in retail sales. Get accurate, real-time analysis on apartment renovation November 23, 2020 at 7:36 p.m. In March 2020, the average sale price for all residential single-family homes (attached plus detached) was $513,526, up 7.31% since March 2019 – setting a new record high. Therefore, finding a good Denver real estate investment opportunity would be key to your success. This figure also corroborates with Zillow's positive forecast, so the home prices in this region are expected to increase by at least 3-6% in the next twelve months. Office - The Metro Denver office market vacancy rate increased slightly from 10.4 percent in the second quarter of 2020 to 11.5 percent in the third quarter of 2020. Rental Trends: As of October 2020, the average rent for an apartment in Denver, CO is $1621 which is a 3.21% decrease from last year when the average rent was $1673, and a 1.23% decrease from last month when the average rent was $1641. http://www.landlordstation.com/blog/top-landlord-friendly-states After all, when a college like Evergreen State that scares off students or simply fails to attract them like many classics, private liberal arts schools who found themselves rendered redundant after brand name schools opened their doors, there’s less demand for the rental of the house as a permanent residence. The year 2020 began very much still in favor of sellers for the Denver Housing Market. Real estate prices are deeply cyclical and much of it is dependent on factors you can’t control. The Boulder metro area is becoming a high-tech hub, driving up rental rates and property values. Y-o-Y Change. The previous year, rent for a two-bedroom home was $1,508 per month. Denver City Council approves $1,000 fine for companies violating short-term rental rules By Conrad Swanson. rent and occupancy data, explore potential investments The year ended with an average home price of $486,695 and a median of $420,000. Compared to last month, there was an increase of 3%. The DMAR Market Trends Committee, part of the Denver Metro Association of REALTORS®, provides timely, consistent and relevant monthly summaries of valuable local real estate market statistical data for both its members and the general public. Consult with one of the investment counselors who can help build you a custom portfolio of Denver turnkey properties. Capitol Hill is the most affordable neighborhood, with a median listing price of $310K. July 2020 had hit a record high number of home sales in any given month in the Metro Denver real estate market. There are no state laws that prevent you from rekeying the locks after evicting them.